We live comfortably but in a modest house. Usually if OH or I want something - clothes, holidays etc - we just buy them. However the current economic climate is making us think twice and we are trying to save more and spend less. We always pay our credit card off every month and do not have any other debts, apart from the mortgage which we are overpaying in order to be rid as soon as possible.
I can remember back in our 'early days' worrying about credit card debts and loans, although we were always able to pay the minimum and cleared them eventually. Since becoming free of debt we avoid any type of loan, preferring to pay from savings. We only use a credit card for convenience and for the loyalty points (which this year have paid for my OU course!)
I find now that rather than worrying about debt, I worry that our 'rainy day' fund isn't adequate. OH was made redundant quite suddenly 6 years ago and was unemployed for 4 months. Luckily we had savings then, but it was depressing just how quickly they dwindled even though we were being very careful with our spending. I would hate to be in that position again.
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