Question about borrowing money

[Brute 23]

Herofan, I meant no disrespect to you at all. I come from a rare prospective I guess. I have said on here more than once, I would rather take all the risk involved, work 80 hours a week, and make less money to be able to farm and work for my self, than to have a good paying 40 hour a week job with retirement,insurance and a boss. That's me, I would rather live comfortable and happy, than wealthy and be on someone else's payroll.

Every one is on some ones pay roll... Every one works for some one. Wealthy is not a dollar amount it's a lifestyle.

 

[denvermartinfarms]

Surely to goodness you understood what I meant. But if not, I mean I would rather have enough to live, and not go somewhere to a job where there is someone telling me what to do, how to do it, and when to be there. Than to have more than I need to be comfortable.

 

[TexasBred]

Herofan, I meant no disrespect to you at all. I come from a rare prospective I guess. I have said on here more than once, I would rather take all the risk involved, work 80 hours a week, and make less money to be able to farm and work for my self, than to have a good paying 40 hour a week job with retirement,insurance and a boss. That's me, I would rather live comfortable and happy, than wealthy and be on someone else's payroll.[/]

Every one is on some ones pay roll... Every one works for some one. Wealthy is not a dollar amount it's a lifestyle.

:lol2: :lol2: AS in owning everything you want but owing 110% of what it's worth?? Now that is lifestyle. From the outside looking in, they have it made. Only they know how soon it may be gone and with it....the lifestyle. To me wealth is nothing more than a frame of mind as in "I"m a poor rich man"..an old song with a lot of meaning.

 

[Brute 23]

Herofan, I meant no disrespect to you at all. I come from a rare prospective I guess. I have said on here more than once, I would rather take all the risk involved, work 80 hours a week, and make less money to be able to farm and work for my self, than to have a good paying 40 hour a week job with retirement,insurance and a boss. That's me, I would rather live comfortable and happy, than wealthy and be on someone else's payroll.[/]

Every one is on some ones pay roll... Every one works for some one. Wealthy is not a dollar amount it's a lifestyle.

:lol2: :lol2: AS in owning everything you want but owing 110% of what it's worth?? Now that is lifestyle. From the outside looking in, they have it made. Only they know how soon it may be gone and with it....the lifestyle. To me wealth is nothing more than a frame of mind as in "I"m a poor rich man"..an old song with a lot of meaning.

Wealth is resources in excess of what you need. Its a lifestyle choice to live on less than you make.... which in turn developes wealth.

 

[TexasBred]

As in "A wealth of friends", "a wealth of good health", a "wealth of kindness", a "wealth of love". All you're talking about is the discipline to spend less than you make. Wealth by definition only. ;-)

 

[backhoeboogie]

Imagine all American's paying cash for everything. No one buys a house until they have the cash. They'd be paying rent for 40 years and the price of rent would be sky high because everyone else would be in the same boat.

House payments are cheaper than rent around here. If you pay 650 a month rent, that's nearly $8,000 a year thrown out. Most of the places I look at in my town for $650 a month are not something I would want to live in.

 

[Brute 23]

As in "A wealth of friends", "a wealth of good health", a "wealth of kindness", a "wealth of love". All you're talking about is the discipline to spend less than you make. Wealth by definition only. ;-)

That's exactly what I am saying... Friends, good health, kindness, ect are all resources that help you prosper. You have to be disciplined to treat your friends right, you have to be disciplined to live healthy, you have to be disciplined to treat people kind all the time..... And you have to be disciplined and have foresight to save money so you have cash on hand to purchase things. It's easy to walk in the bank and get a loan after you realize you need money... It's hard to sacrifice on a daily basis in anticipation of needing cash for you next purchase.

The Debt itself is not as big of an issue as the lack of forseit, patience, and discipline that tends to go along with it. Not having debt is about training your behavior. ;-)

 

[TexasBred]

As in "A wealth of friends", "a wealth of good health", a "wealth of kindness", a "wealth of love". All you're talking about is the discipline to spend less than you make. Wealth by definition only. ;-)

That's exactly what I am saying... Friends, good health, kindness, ect are all resources that help you prosper. You have to be disciplined to treat your friends right, you have to be disciplined to live healthy, you have to be disciplined to treat people kind all the time..... And you have to be disciplined and have foresight to save money so you have cash on hand to purchase things. It's easy to walk in the bank and get a loan after you realize you need money... It's hard to sacrifice on a daily basis in anticipation of needing cash for you next purchase.

The Debt itself is not as big of an issue as the lack of forseit, patience, and discipline that tends to go along with it. Not having debt is about training your behavior. ;-)

Even lack of debt does not translate to wealth...nor happiness. A lot of folks can give the appearance of "wealth" but doesn't take long to figure out who IS Mr. and Mrs. Jones and who is trying to keep up with them. As I said "I'm a poor rich man". ;-)

 

[Brute 23]

Imagine all American's paying cash for everything. No one buys a house until they have the cash. They'd be paying rent for 40 years and the price of rent would be sky high because everyone else would be in the same boat.

House payments are cheaper than rent around here. If you pay 650 a month rent, that's nearly $8,000 a year thrown out. Most of the places I look at in my town for $650 a month are not something I would want to live in.

No you would see fast food companies, direct tv, Starbucks, and new car sales will take a beating. 8 yr old wouldn't be packing $300 cell phones. It will look a lot like when some of y'all old timers grew up.

In America there is not an income problem... It's a priority problem. People choose to take out a mortgage so they can buy cell phones, new cars, $150 per mo satellite, $1500 TVs, ect. ;-)

You would also see the housing markets adjust. They will build houses people can afford... Not houses they can get a loan on.

 

[Brute 23]

That's exactly what I am saying... Friends, good health, kindness, ect are all resources that help you prosper. You have to be disciplined to treat your friends right, you have to be disciplined to live healthy, you have to be disciplined to treat people kind all the time..... And you have to be disciplined and have foresight to save money so you have cash on hand to purchase things. It's easy to walk in the bank and get a loan after you realize you need money... It's hard to sacrifice on a daily basis in anticipation of needing cash for you next purchase.

The Debt itself is not as big of an issue as the lack of forseit, patience, and discipline that tends to go along with it. Not having debt is about training your behavior. ;-)

Even lack of debt does not translate to wealth...nor happiness. A lot of folks can give the appearance of "wealth" but doesn't take long to figure out who IS Mr. and Mrs. Jones and who is trying to keep up with them. As I said "I'm a poor rich man". ;-)

I agree.

 

[herofan]

Herofan, I meant no disrespect to you at all. I come from a rare prospective I guess. I have said on here more than once, I would rather take all the risk involved, work 80 hours a week, and make less money to be able to farm and work for my self, than to have a good paying 40 hour a week job with retirement,insurance and a boss. That's me, I would rather live comfortable and happy, than wealthy and be on someone else's payroll.

Oh, no disrespect taken. Your comments were fine. I'm just having a little friendly banter. As i wrote elsewhere, people's various ideas on finances have always fascinated me. i was just raised a saver, and that's probably how i will always be, although I am not totally against borrowing, and am always open to someone explaining how borrowing would be better.

Some posters have made good points. For one, backhoeboogie made a good point about the state that renting would be in if we all waited to have the cash to buy our house. I guess it take a little of all lifestyles. I guess the good part is that we all have the freedom to do as much as want. People don't lose their butts as much as they would have in my grandparents day either. There's unemployment, bankruptcy laws, insurance, etc. I guess that makes a difference too.