About Jon Dulin

Hi, my name is Jon and I run Penny Thots. I blog about many personal finance topics, but my specialties lie in investing, paying off debt, and achieving your financial goals. You can learn more about me on the Author Page.


  1. AvatarCrystal says

    I’d like to add borrowing from your 401k, borrowing against your home (except maybe for critically-needed repairs) and carrying any balance whatsoever on a credit card. Have I done any of these things? Yes, two out of three – that’s partly how I know they’re mistakes. But living without debt should be the goal and is the only way to be financially free.

    As for paying for your children to go to college, often NOT a good idea. I put myself through college in my 30s and bless those parents that made my way affordable by supporting their children so they could extend their dependency and delay becoming adults. Does this describe all college students? No, of course not – some are driven and serious and going places. But it’s my observation that those individuals figure out how to get an education with or without their parents. If you can easily afford to send your kid to college, great. If not, let them know early and they’ll figure it out if it’s important to them.

  2. AvatarKC @ genxfinance says

    Some parents have this notion that they need to work hard, borrow money just to send their kids to college. Doesn’t matter if they’re broke. As long as they get education. It’s admirable but you need to be practical in today’s time. There are other alternatives out there. All you need to do is look enough.

  3. AvatarSteveark says

    I’d add one more, borrowing money to buy new cars when you could drive a used car paid for with cash. I’ve got enough money to have three new Porsche’s if I wanted them but I’m driving an old Toyota 4 Runner that looks nice and runs perfectly. My wife is driving a 2006 Nissan Exterra. We haven’t had a car payment in over 20 years. When most people are paying over $500 per vehicle and have two vehicles it qualifies as a huge money mistake in my book. Just by eliminating those payments and driving affordable older cars most people could move from debt to wealth. The irony is that people often think my wife and I are driving new cars because we chose cars that didn’t see a lot of styling changes over the years and kept them looking nice and shiny.