Hightower-Ash98
XS650 Addict
drive down to florida, I'll sell you my basket case for a steal
I gotta pay rent somehow lol
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Idle curiosity - How many here are debt free?
- Thread starter Downeaster
- Start date
I gotta pay rent somehow lol
Tiesco
XS650 Addict
Spending a large chunk of my life as a military man, we were reassigned every year and a half or so, so I never bought a house until I was about 50. So yeah... I've got the mortgage. Other than that, nothing to speak of. If it's something we can't pay off at the end of the month, we either don't buy it or look for a 12mo interest free offer. We've got credit cards we got 'cause they offered no interest for 18mo if you transfer you debt to them. So we'll buy furniture (for instance) on a store card with high interest and promptly take up an interest free offer from someone, transfer that high interest to it and pay for the furniture.... or whatever, interest free. Other than the house and the odd used car payment, we haven't paid out any interest in over 25yr.
Mechanical Engineering.
what's your dissertation on?
"By the way it's Kubota, not Cabota"
Yes and no...
Lol, I'm debt free as of yesterday. But I'll be back in debt before long. Closed on selling the house in washington, had a good but of equity so EVERYTHING got paid off. Have a chunk left over, so once we find a new house down here in OK we will do a small down payment and keep a chunk in savings. So I'll have a mortgage again, but that's cheaper than rent for the same size place.
Makes more sense financially too at current mortgage rates.
Taking on debt for housing, other NEEDED durable goods, or for the means of production is not a crime. Financing "toys" like say a motorcycle is lunacy. But that's the way I was raised.
Life may throw burdens on you that require short term debt. The trick is ceaseless vigilance to get that debt gone as soon as possible.
Full disclosure, I teetered on the knife edge of things going wrong several times. I took on a heavy burden of debt to finance getting into business.
I look back sometimes and say was that a good plan?
Life may throw burdens on you that require short term debt. The trick is ceaseless vigilance to get that debt gone as soon as possible.
Full disclosure, I teetered on the knife edge of things going wrong several times. I took on a heavy burden of debt to finance getting into business.
I look back sometimes and say was that a good plan?
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Yeah, what he said. Gotta have a place to live and gotta have reliable transportation to get to work. Other than that if you ain't got the $$$ in your pocket you don't get it until the funds are there.
Oh yeah. There are a few spendy things I want, not need. Since I haven't had the cash, I never got them. With selling the house I could buy them, but at the same time I worry about,"what if I need that money for an emergency later?" So even now I can't justify the purchase. Now I might get a TIG and plasma cutter, but tools are a little different than say a rifle scope that is over $2k.
Luckily the wife's car is 3yrs old with 15k on it, my truck is 13yrs old with 170k but didn't use any oil from washington to OK with a trailer, triumph has 100k but is reliable and good shape, yamaha is a toy in all honesty. So I'm covered on vehicles and basically have a backup for the backup.
House is the big need, but I really want to avoid debt for anything else. Eventually I'll need to replace the truck and current prices make me cringe.
Luckily the wife's car is 3yrs old with 15k on it, my truck is 13yrs old with 170k but didn't use any oil from washington to OK with a trailer, triumph has 100k but is reliable and good shape, yamaha is a toy in all honesty. So I'm covered on vehicles and basically have a backup for the backup.
House is the big need, but I really want to avoid debt for anything else. Eventually I'll need to replace the truck and current prices make me cringe.
That's what I did build up equity after 5 years and then a bank would lend me enough to get out of the 3 way C4D
The interest was crazy nuts but then parents of friends were making good money on CD's so the old folks had some extra cash to go with there Social security checks
What the hell I got a house and they got to bank a little cash
Hightower-Ash98
XS650 Addict
Wish I was like that, most of the stuff I like is "Vintage" AKA isn't made anymore and hard to find. If I want something that's currently mass produced, I'll hold off on buying it for years maybe.
But If I see an old rifle I've been dying to have, and have one chance to get it...
FLEA
XS650 Guru
the big mines here pay big money but its amazing when ever there a down turn theres a rush of exspensive toys going cheap in mining areas ,good eg is a local bloke who worked in the coal mines 20yrs .. had a 5 yr break and decided to go back .. 3 weeks after starting the new coal job he took out a loan for a 70k car ... under union rules last hired is first to go when job shedding .... cant understand the rational behind it especially the same car would have dropped 10k just driving out the door ... earning that sort of money could have saved the pennies and bought it for cash for a lot less ... rant over
What gets me about financing big-ticket items is the accompanying expense full-coverage insurance, warranties, and the (sometimes) bloated valuation declaration to the taxing authorities.
A doit yerself type, careful paperwork and risk management can bypass those, save bundles...
A doit yerself type, careful paperwork and risk management can bypass those, save bundles...
Hi DE,
that would be me, for 3 months in 1993.
Then the head office arseholes decided to move our design office from rural Manitoba to downtown Saskatoon.
Alas that I was at an awkward age, too young to retire, too old to get a job, especially in a Manitoba village with it's main employer displacing staff.
Sure the company paid the move but I had to suck up the mortgage payments on a twice the price for an equivalent house in Saskatoon.
Still paying off the rump of that mortgage. Luckily, when those same arseholes decided to relocate the Saskatoon office to Missisauga Ontario
I was old enough to refuse to be last in-first out low man on the union totem pole and hold my hand out for a year's wages instead.
Got a job driving a lathe after that, My 40 years old machinist's papers from Rolls-Royce got me started the day I applied.
When I was 18, I got my first adult job working for the Copper mines in Arizona. Shortly after I hired on, I applied for a loan at the local bank to buy a new Yamaha XT500 enduro. When the loan officer saw that I worked for the mines he just rubber stamped it approved and told me if I ever got laid off at the mines my loan payments would be suspended until I returned to work. I looked at him and said “ You’re kidding! “ And he said “ We’re a bank in a mining town , most of our customers work for the mines, if we didn’t , we would go out of business.”
FLEA
XS650 Guru
different times and places , over here most of the big mines are now fly in fly out with very little cash staying in the local economies .. now days the banks here will reposess and forclose real quick plus you have a lot of smaller community banks where we have what they call the big 4 (banks) who are just pure evil with their biz practises .. remember the old cartoon where the evil banker ties the spunky young girl /women across the railway tracks .. well.. thats our banks
