Our grandparents’ generation never financed anything. In fact, it was considered stupid. If, in 1950, you told your neighbor that you got a super low interest rate on your brand new car, they would have looked at you like you were on fire. Cash was the method of choice for almost every purchase – even houses! Don’t believe me? According to a study performed at the University of Pennsylvania, in 1949, the average debt on a person’s house was approximately 20{07c0bb02cae1f0b356e550d14375ff5283a467e66c49238eeeae84ea79201741} …
Article by Life And My Finances. Read entire story here.
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