Register | Sign In


Understanding through Discussion


EvC Forum active members: 63 (9161 total)
5 online now:
Newest Member: popoi
Post Volume: Total: 915,585 Year: 2,842/9,624 Month: 687/1,588 Week: 93/229 Day: 4/61 Hour: 0/0


Thread  Details

Email This Thread
Newer Topic | Older Topic
  
Author Topic:   The Debt Clock
Pressie
Member
Posts: 2103
From: Pretoria, SA
Joined: 06-18-2010


Message 59 of 114 (818536)
08-30-2017 7:21 AM
Reply to: Message 58 by Phat
08-30-2017 2:45 AM


Re: Debt can be good
Goodness graceous me. That's a very bad way of going about. Eventually someone is going to pay.
I can put my own case, for example. My parents always taught me: "never, ever, spend more than you earn and put some money away". I recently went to my bank to get a mortgage on an investment property. Due to the deposit, my credit rating, value of our house as collateral, etc., I got the loan with the condition that I pay it off before retirement age. Now, that's going to cause me and my wife to struggle to make the payments, but we'll manage. Only just.
After that the same bank offered me a loan on buying a new, expensive vehicle. A vehicle I can not afford at all. Even without the loan for the house.
If I took out that loan, our children would never inherent anything. Not even a sofa. So, someone has to pay...
Edited by Pressie, : No reason given.

This message is a reply to:
 Message 58 by Phat, posted 08-30-2017 2:45 AM Phat has replied

Replies to this message:
 Message 60 by Phat, posted 09-09-2017 9:39 AM Pressie has not replied

  
Newer Topic | Older Topic
Jump to:


Copyright 2001-2023 by EvC Forum, All Rights Reserved

™ Version 4.2
Innovative software from Qwixotic © 2024