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m.hony · 06-12-2014, 04:49 PM

Anything under 5% is good in any year!

mistermcfrug · 06-12-2014, 05:22 PM

Quote:

Originally Posted by PA BAMBI II

Credit is a joke...do as our grandparents did. Pay cash. If you can't afford it, you can't afford it.

I am not rich- I paid $1000 for my Airstream and I'm restoring it myself. I would never put my mortgage up against a loan for a camping trailer. I own all of my cars (all used) and the only debt I have is my mortgage.

Life is simpler when you don't owe people...

Ha! I was wondering on this thread if anyone would make the obvious comment. Thanks!

BoldAdventure · 06-13-2014, 03:55 AM

Quote:

Originally Posted by mistermcfrug

Ha! I was wondering on this thread if anyone would make the obvious comment. Thanks!

Yeah poor people who could never handle their money to begin with always talk about how much credit is a joke. Dave Ramsey has great advice, but it will only ever take you so far. Dave will never teach you to leverage debt wisely to increase your wealth.

I personally don't look at if I can afford the monthly payment, that's stupid. I take a look at what my overall total payment will be with interest plus if I could pay cash today. If you don't that's how people end up buying a 100K house and actually paying the bank 200K over 30yrs.

A perfect example of this is I use a credit card for gas every month because I get 5% back on what I spend. I use it only at the pump. I have a structured budget where we always have cash set aside anyways. We could pay all out debts at the drop of a hat.

A guy who makes 30K a year buying a 24K car because he can afford the monthly payment is stupid. A guy with a half million dollars in savings and making 6 figures a year buying a 60K car can afford it to leverage it.

So no, credit is not stupid, only the person who can not handle it properly is stupid.

If you can't handle it wisely then maybe you should stick to cash.

J. Morgan · 06-13-2014, 07:35 AM

"""If you can't handle it wisely then maybe you should stick to cash."""

Hmmm, so that is the only reason to pay cash ?

Interesting.

(Inflammatory fallacy)

BoldAdventure · 06-13-2014, 08:21 AM

Quote:

Originally Posted by J. Morgan

"""If you can't handle it wisely then maybe you should stick to cash."""

Hmmm, so that is the only reason to pay cash ?

Interesting.

(Inflammatory fallacy)

There are good reasons to pay cash for lots of things, and good reasons to leverage debt if you know how to manage it.

You don't need a fallacy to support either.

AtomicNo13 · 06-13-2014, 08:22 AM

I pay cash because I can afford to, and would prefer not to make banks any richer. Money or property is better in my pocket than theirs. Property is just money in a different form! A wise investment/ can always be turned back into cash!

xrvr · 06-13-2014, 08:32 AM

Financing is just buying money from a bank at over the current value. I know, I have done it all my life. Not the smartest way, but the only way some of us could own things. Took me over 50 years to be in a situation where that was not necessary anymore. Jim

J. Morgan · 06-13-2014, 08:39 AM

""A false dilemma (also called black-and/or-white thinking, bifurcation, denying a conjunct, the either-or fallacy, false dichotomy, fallacy of exhaustive hypotheses, the fallacy of false choice, the fallacy of the false alternative, or the fallacy of the excluded middle) is a type of informal fallacy that involves a situation in which limited alternatives are considered, when in fact there is at least one additional option."""

BoldAdventure · 06-13-2014, 08:51 AM

Do what makes you happy. In the end, we're all dead.

J. Morgan · 06-13-2014, 08:55 AM

I think that there is a place for financing and cash , we should be able to express our opinions without getting angry or being overly sensitive when opinions differ.

That is my only point.

BoldAdventure · 06-13-2014, 09:00 AM

Quote:

Originally Posted by J. Morgan

I think that there is a place for financing and cash , we should be able to express our opinions without getting angry or being overly sensitive when opinions differ.

That is my only point.

I didn't do a good job of equating that point, although it's the one I share.

My original quote was wrong, because I quoted a member who quoted this post:

Quote:

Originally Posted by PA BAMBI II

Credit is a joke...do as our grandparents did. Pay cash. If you can't afford it, you can't afford it.

I am not rich- I paid $1000 for my Airstream and I'm restoring it myself. I would never put my mortgage up against a loan for a camping trailer. I own all of my cars (all used) and the only debt I have is my mortgage.

Life is simpler when you don't owe people...

The more I learn the more I realize I don't know anything.

J. Morgan · 06-13-2014, 09:02 AM

"""The more I learn the more I realize I don't know anything.""""

This is a quote I can relate to.

Take Care!

xrvr · 06-13-2014, 09:05 AM

And the older I get, the less I care! Jim

SteveSueMac · 06-13-2014, 09:44 AM

Love the last 2 quotes together :-)

Now get out there and camp! Amen. :-)

m.hony · 06-14-2014, 06:17 AM

I don't particularly care to borrow money.
You got 2 choices- save money till you have enough and the buy whatever- or finance whatever and have it now-
Sometimes I do it one way, sometimes the other-
I could wait 3 years to have an Airstream, or I can have one now.
My viewpoint was different before the bad economy and market crash of '08.
Before then, I would never borrow money in an attempt to hoard money or save. I lost so much that it doesn't matter anymore. 25 years of working 120 hour weeks for nothing, except to see the other side of life- now I work 45 hours a week and camp every weekend.

LeslieAP · 02-13-2017, 02:29 PM

Hello, I'm new to this forum and am just reviewing options on financing a more vintage style airstream, vs options involving a tiny home. I'm really curious how everyone here decided between a tiny house and an airstream? If this was even a decision anyone here had to make...any advice, comment, thoughts, are welcome. Thank you!

Foiled Again · 02-13-2017, 02:36 PM

I love my Airstream. It is an emotional choice... not logical though I can make it sound that

Foiled Again · 02-13-2017, 03:00 PM

(Thumb typing)
I can make it sound logical.
I am not rich but I can afford to buy a house, a tiny house, an Airstream or an SOB.

Most people who go the tiny house route are trying to dig oit from crushing student loan debt, bankruptcy or other financial difficulties. And many are making ill-advised choices because they haven't thought about zoning, the cost of moving if it becomes necessary or what can go wrong if a family member develops health problems.

Tiny houses have a CUTE factor that is hard to deny..
But resale value? No. You lose money selling 99% of all RVs but you can sell them.

If your goal is inexpensive shelter for 2 to 5 years, buy an SOB, not an airstream where you're paying a premium for style, and towing ease.

If saving money is in your "been there, done that" list, then do whatever you want.

My main objection to tiny houses ia that they weigh so much and are so ungainly that you have to hire a semi to move them..
And getting one set up and leveled may require having a pad poured - $$$.

Paula