Author Topic: Is This Worth Looking Into?  (Read 6202 times)

Offline Solar

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Re: Is This Worth Looking Into?
« Reply #30 on: April 13, 2015, 12:24:05 PM »
I just read through this thread and found it very interesting.

You all have been giving excellent advice.  Debt is a four letter word that is dirtier than most.

Trying to change the habits of mature people can be very difficult if not impossible.  That is why it is imperative that we raise our kids to experience financial freedom in their lives.  They should have a healthy fear of debt.  That does not happen by accident.... it is cultivated.

Once irresponsible debt has been incurred, the only solution involves pain and uncharacteristic discipline.  Usually a course correction only happens when there is no alternative.

It never fails to amaze me how many otherwise rational and sane people can get so outrageously indebted.
For decades I watched friends and associates fall under debt.
From owning their home free and clear and using it as collateral for bigger and newer toys, only to lose it all.
Just had a neighbor lose their land. Everything was going well for them, but she had to have an Andalusian horse she bought for around 30 grand, that was the first stupid move, then had to have an arena, which cost another 30 grand after dozer work and top of the line stable/barn, which they used the equity in the house/land to pay for.

Horse got sick, add another 15 grand in vet bills and trailering to Davis veterinarian hospital/college 100 miles away.
Long story short, she lost the horse, and the vet bills and disposal fees put them way over budget.
They lost it all, and for what? An emotional need to be accepted by their wealthy friends, (keeping up with the Jones, syndrome).
Yes, she had serious inadequacy issues that killed their dream, a dream she wasn't willing to work, or wait for, "I had to have it now" problem.
#WWG1WGA

Offline kroz

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Re: Is This Worth Looking Into?
« Reply #31 on: April 13, 2015, 12:44:01 PM »
For decades I watched friends and associates fall under debt.
From owning their home free and clear and using it as collateral for bigger and newer toys, only to lose it all.
Just had a neighbor lose their land. Everything was going well for them, but she had to have an Andalusian horse she bought for around 30 grand, that was the first stupid move, then had to have an arena, which cost another 30 grand after dozer work and top of the line stable/barn, which they used the equity in the house/land to pay for.

Horse got sick, add another 15 grand in vet bills and trailering to Davis veterinarian hospital/college 100 miles away.
Long story short, she lost the horse, and the vet bills and disposal fees put them way over budget.
They lost it all, and for what? An emotional need to be accepted by their wealthy friends, (keeping up with the Jones, syndrome).
Yes, she had serious inadequacy issues that killed their dream, a dream she wasn't willing to work, or wait for, "I had to have it now" problem.

That is a very sad story, Solar.

My sister-in-law is into expensive horses but she works her tail off to pay for the full array of amenities required for such a hobby!  That is ONE expensive hobby!!  Cost of the horse is not usually the biggest expense.  But she is the hardest working woman I have ever met and a real wizard with their finances.... which helps!  My bro was very lucky when he snagged her.

Offline Solar

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Re: Is This Worth Looking Into?
« Reply #32 on: April 13, 2015, 01:10:34 PM »
That is a very sad story, Solar.

My sister-in-law is into expensive horses but she works her tail off to pay for the full array of amenities required for such a hobby!  That is ONE expensive hobby!!  Cost of the horse is not usually the biggest expense.  But she is the hardest working woman I have ever met and a real wizard with their finances.... which helps!  My bro was very lucky when he snagged her.
Yep, it costs a lot for a hobby, and sadly for her, it was an emotional void to feed, so losing it was as devastating as bankruptcy.
#WWG1WGA

zewazir

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Re: Is This Worth Looking Into?
« Reply #33 on: April 13, 2015, 06:52:27 PM »
The attitude of "gotta have it now" (aka "instant gratification") is a significant societal illness that is bringing down our entire economy. Dot-gov are not the only ones who cannot seem to grasp the basic fact that when spending out-grows income, the end will be less than pretty. In 2014, Americans spent over $150 Billion just on credit card interest charges. (Imagine the extra jobs created buying $150B worth of STUFF instead of giving it away to the international banking system!)

And it's getting worse. In watching the Apple Watch fiasco, there was an eBay auction today in which the winning bid was $210 more than Apple charges for that model watch, just because they will get it a few weeks faster than waiting for the Apple Store. "Gotta Have It Now" taken to stupidity.

Of course, the end result is not that different from the person who just has to have that (whatever) RIGHT NOW, so they pay for it with that 21.5% APR credit card, then take 18+ months paying off their new toy.

Online walkstall

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Re: Is This Worth Looking Into?
« Reply #34 on: April 13, 2015, 07:02:50 PM »
The attitude of "gotta have it now" (aka "instant gratification") is a significant societal illness that is bringing down our entire economy. Dot-gov are not the only ones who cannot seem to grasp the basic fact that when spending out-grows income, the end will be less than pretty. In 2014, Americans spent over $150 Billion just on credit card interest charges. (Imagine the extra jobs created buying $150B worth of STUFF instead of giving it away to the international banking system!)

And it's getting worse. In watching the Apple Watch fiasco, there was an eBay auction today in which the winning bid was $210 more than Apple charges for that model watch, just because they will get it a few weeks faster than waiting for the Apple Store. "Gotta Have It Now" taken to stupidity.

Of course, the end result is not that different from the person who just has to have that (whatever) RIGHT NOW, so they pay for it with that 21.5% APR credit card, then take 18+ months paying off their new toy.


A Credit Card(s) = A fool and his or her money soon departed.
A politician thinks of the next election. A statesman, of the next generation.- James Freeman Clarke

Politics is supposed to be the second-oldest profession.  I have come to realize that it bears a very close resemblance to the first.  ~ Ronald Reagan ~

Always remember "Feelings Aren't Facts."

Offline Solar

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Re: Is This Worth Looking Into?
« Reply #35 on: April 13, 2015, 07:42:18 PM »
The attitude of "gotta have it now" (aka "instant gratification") is a significant societal illness that is bringing down our entire economy. Dot-gov are not the only ones who cannot seem to grasp the basic fact that when spending out-grows income, the end will be less than pretty. In 2014, Americans spent over $150 Billion just on credit card interest charges. (Imagine the extra jobs created buying $150B worth of STUFF instead of giving it away to the international banking system!)

And it's getting worse. In watching the Apple Watch fiasco, there was an eBay auction today in which the winning bid was $210 more than Apple charges for that model watch, just because they will get it a few weeks faster than waiting for the Apple Store. "Gotta Have It Now" taken to stupidity.

Of course, the end result is not that different from the person who just has to have that (whatever) RIGHT NOW, so they pay for it with that 21.5% APR credit card, then take 18+ months paying off their new toy.
So true, and when our debt finally comes due, I hope to God I'm on my death bed.
Because most in this country aren't prepared for what's coming. Unfortunately, It'll probably be sooner than later.
#WWG1WGA

Offline edward222

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Re: Is This Worth Looking Into?
« Reply #36 on: April 13, 2015, 10:10:38 PM »
The worst one can do is lie to people and get caught doing so, because retrieving ones credibility can be next to impossible..
You only get one shot at first impressions. :wink:
So just be yourself, be honest in your posts and people will give you a second chance.

 :blush: :blush: :blush: :blush:

Offline edward222

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Re: Is This Worth Looking Into?
« Reply #37 on: April 13, 2015, 10:13:12 PM »
No, I don't hate you.

Ahhh I see, that five words of yours is enough to make me say "thank you"  :blushing: :blushing:

Back to this threads topic  :thumbup:


 

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