I admit my savings account is pretty weak. But I'm working on it. I now carry no credit card debt, nor do I have a car loan. My car is 7 years old and I don't foresee trading it for quite a while longer, maybe even another 6 or 7 years. The only debt I have now is my student loan, which is still around $16,000. I need to save up and think about getting more debt in the form of a mortgage, but renting also has its benefits, particularly when the job market might dictate a move to a different city.