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Old 04-10-2014, 07:30 PM   #51
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The great thing about all this advice is we are free to throw ours out there and the people on the other side are free to pick and choose whatever suits them.
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Old 04-10-2014, 07:34 PM   #52
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Yeah, definetly a generational difference. I feel ok leveraging debt at low interest rates to enjoy life now, while still putting a good amount of money away for the future. Debt is not a bad word, there is such a thing as good debt. Now, getting in over ones head is up to each of us to figure out.

What is comfortable for some is not for others. My vehicle payments are more than most house payments, but that is only part of the picture....cash on hand, investments, net worth, etc...everyone has a different situation.

Borrowing at under 2% beats inflation, and in the case of a house is an investment....the return being if value increase outpaces interest.
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Old 04-10-2014, 07:50 PM   #53
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WOW, what a $$$$$$$$ contest. This is great reading and funny!
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Old 04-10-2014, 08:22 PM   #54
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Originally Posted by heavynlori View Post
Our dad could not get Dish Network due to no credit history - always paid cash for everything including cars and house and no bank account either - stashed in a jar (old school) - hard to imagine.....
Shoot im only 40 and it happened to me....when I finished college I was up to my ear holes in debt (stupidity ) ...so I cut up every card I had and spent the next few years paying EVERY THING off.....up until about 4 years ago I was STILL driving my old 88 gmc...wife finished school and I walked in to buy me a shiny new truck....they said I didnt have bad credit I just didnt have any...so they would not finance me...lol..I got it financed but I had to bring a bag full of cash with me. (30k)....my credit is much better these days....and I have no problem financing things as its a necessary evil anymore..

sent from fat fingers via a space dish thing with no regard to grammer.
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Old 04-10-2014, 08:25 PM   #55
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Shoot im only 40 and it happened to me....when I finished college I was up to my ear holes in debt (stupidity ) ...so I cut up every card I had and spent the next few years paying EVERY THING off.....up until about 4 years ago I was STILL driving my old 88 gmc...wife finished school and I walked in to buy me a shiny new truck....they said I didnt have bad credit I just didnt have any...so they would not finance me...lol..I got it financed but I had to bring a bag full of cash with me. (30k)....my credit is much better these days....and I have no problem financing things as its a necessary evil anymore..

sent from fat fingers via a space dish thing with no regard to grammer.

Unfortunately it is a necessary evil. Though if handled responsibly can be a great tool.
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Old 04-10-2014, 09:19 PM   #56
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Financing is not even evil. It is a tool to use. It all depends on how the tool is used, if you are a craftsman or an apprentice.
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Old 04-10-2014, 09:38 PM   #57
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I don't smoke, don't drink much, don't gamble, buy lottery tickets, etc....I like to think spending smartly on a lot of little things adds up and enables people to enjoy bigger things. Life's a garden, dig it. You can't have no in your heart.
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Old 04-11-2014, 10:14 AM   #58
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Our dad could not get Dish Network due to no credit history - always paid cash for everything including cars and house and no bank account either - stashed in a jar (old school) - hard to imagine.....
When my grandmother passed about 5 years ago, we had to go through every piece of clothing, pocket book, file folder, pillow case, etc., etc., etc. because she and her husband hid money. All told, I think they found something like $64,000 in the house stashed away.
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Old 04-18-2014, 09:19 PM   #59
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It's been a long time since we financed anything, decided to finance a portion of our 8289 just to have something recent in our credit history. I wanted to go 36 mo but most wanted 4%+ for such a short period. Went for 60 months at 2.25%, payments less than $200 with a 2% penalty if paid off earlier than 36 mo. At month 37 the account will be paid off, no penalty.
If you're waiting for month 37 to make a balloon payment, don't. Make lump sum payments as early as you can, calculating how much to pay so payment 36 for the minimum required amount is the final payment. That minimizes the total interest you pay, without a prepayment penalty.

Chris
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Old 04-18-2014, 09:39 PM   #60
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I would hardly think anyone on an RV forum board would be really hurting for money.

Either way....you should ALL send your money to me and i'll keep an eye on it for you!
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