The Amish have no credit cards, mortgages, or car loans. Not enough money — save or don't buy.
Principle
Don't buy what you can't pay for now. Only exception — land: the community may lend to a young family at 0% (no banks, no interest). Debt repaid as possible.
How It Works
Young couples live modestly, save. Build homes gradually — first one room, then expand. Don't buy a ready home on mortgage. Tools bought used or at auctions.
Result
90%+ of Amish families are debt-free. Compare: 80% of Americans carry debt, average household debt $100,000+. The Amish aren't richer in absolute terms, but freer: no monthly payments, no fear of losing home.
Downside
Slow start. Young families live modestly for 5–10 years. But by 40, an Amish person typically owns land and home debt-free. The average American at 40 is mid-mortgage.