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Non-Cattle Specific Topics
Coffee Shop
Borrowing money to build credit.
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<blockquote data-quote="Clodhopper" data-source="post: 1332574" data-attributes="member: 24993"><p>Good post, John. I don't know anyone who was able to pay cash for everything unless they inherited large amounts from dad or grandpa. When you born po, the bank is a necessary evil.</p><p></p><p>If I would have scrimped and saved to buy property with cash, I would still be renting everything today. The bank let me buy ground at $1100-1400 per acre years ago. Saving for 15 years would have put me in the market at $5000+ ground. I can't afford that with owned ground now, and dang sure couldn't with a small pile of cash saved form working.</p><p></p><p>That being said, borrowing for the sake of borrowing doesn't seem like too good of an idea. Most people spend more than they need or can afford when borrowing.</p></blockquote><p></p>
[QUOTE="Clodhopper, post: 1332574, member: 24993"] Good post, John. I don't know anyone who was able to pay cash for everything unless they inherited large amounts from dad or grandpa. When you born po, the bank is a necessary evil. If I would have scrimped and saved to buy property with cash, I would still be renting everything today. The bank let me buy ground at $1100-1400 per acre years ago. Saving for 15 years would have put me in the market at $5000+ ground. I can't afford that with owned ground now, and dang sure couldn't with a small pile of cash saved form working. That being said, borrowing for the sake of borrowing doesn't seem like too good of an idea. Most people spend more than they need or can afford when borrowing. [/QUOTE]
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Borrowing money to build credit.
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