Your subtitle is “Information for those who want to be millionaires.” Are you there yet?

I appreciate the detail you gave here about your expenses–looks like $7800/year, so your income need not be more than $31,200 for that to be 25% of your income, which means your program isn’t depend on, say, a six-figure income. It is, however, dependent on living in a place with a low cost of living.

I have debt a mortgage and recently added a student loan. We live on about 50% of our income or less and we don’t do other forms of debt.

Our major reason for not living on less than 50% is because we live in one of the most expensive cities in the US. So for us we’ll get there in a few more years. But until then we’re okay with how we’re doing.

No, this is a way to build wealth, not the only way to build wealth. There are plenty of people who have built enormous amounts of wealth by leveraging other people’s money to their advantage.

Your irrational fear of all forms of debt no matter what the benefits are, coupled with some fundamentally bad advice given here is the reason you have seen such a strong reaction from a pretty knowledgeable community.

I’ll bet you’ve liked the jump in traffic because of it, though. I’ll even be nice and click a few of our adsense links.

My phone bill can be placed onto my credit card, and I can make automatic payments on my card from my checking account. I don’t see how I’m hurting myself by playing the float in this case, not to mention the 1% kickback. While it may be true that some (most?) people don’t come out ahead with cards, you insulted those of us who have the discipline to do so.

I don’t want you to think that my beef is that some stranger on teh intrawebs insulted me in the abstract; my ultimate complaint is that a decent percentage of what you’ve stated on this blog is not only wrong, but harmful to any who would follow your advice. Unless you plan on renting for life (or are willing to wait until having a massive ball of cash to buy a house with), and don’t drive, you’re hurting yourself by not having a good credit score. I’m not saying that’s the way things should be, but it is the way they are. Past performance is a poor means of picking a mutual fund, and you’ve made no mention of asset allocation in your mutual fund picking thread as well.

Seems like a few thousand dollars a year may allow them to live on 20% of their income (or less) and save the rest. I don’t see how it has to be “either/or.” I’m too conservative for this, but I recognize that for the people that have taken the time and stomach for it, it seems like a good source of revenue.