Quote:
Originally Posted by scott craft
I think it's pretty interesting that you're the only one on this thread that doesn't think getting a loan for a boat is a good idea. I wonder why more don't think like that?
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Scott as you and purebay have stated, 'each of you have learned a lesson about finances' and now each of you are looking at finances in a different way.
Borrowing from a financial institution for '
things' other than a home loan is well stupid. If a person is fortunate enough to have cash on hand to pay for a home, then that person is ahead of most. When a person borrows money, that person is now debted to the loan originator. Every dime a person pay's towards a loan note is a dime that is not saved or invested. Hince no saving for the next
'thing' a person wishes to aquire which leads to another loan note for most. See the pattern and understand the debt and misery that follows. One of the biggest self hurdles we as humans face is personal patience. We as a society see something and want it NOW.
When a person experiences the satisfaction of purchasing 'things' on a paid for basis. The freedom of not oweing some institution every month is gratifying.