Comments on: You Need to Borrow Money http://financialhighway.com/you-need-to-borrow-money/ Personal finance blog discussing investments, savings, insurance and financial planning ideas to grow wealth Wed, 08 Feb 2012 02:23:14 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Vintage HQ http://financialhighway.com/you-need-to-borrow-money/#comment-16850 Vintage HQ Sun, 23 Oct 2011 00:43:01 +0000 http://financialhighway.com/?p=4352#comment-16850 <strong>Vintage HQ With all the doggone snow we have gotten as of late I am stuck inside , fortunately there is the internet, thanks for giving me something to do....</strong> With all the doggone snow we have gotten as of late I am stuck inside , fortunately there is the internet, thanks for giving me something to do.... Vintage HQ With all the doggone snow we have gotten as of late I am stuck inside , fortunately there is the internet, thanks for giving me something to do….

With all the doggone snow we have gotten as of late I am stuck inside , fortunately there is the internet, thanks for giving me something to do….

]]> By: Taking Advantage of the Opportunities – Being Financially Prepared — Personal Dividends - Money+Lifestyle http://financialhighway.com/you-need-to-borrow-money/#comment-6713 Taking Advantage of the Opportunities – Being Financially Prepared — Personal Dividends - Money+Lifestyle Thu, 21 Oct 2010 16:55:23 +0000 http://financialhighway.com/?p=4352#comment-6713 [...] I took out student loans that I didn’t actually need during my undergraduate years. I did need to borrow for my graduate work, but student loans weren’t necessary before that. Additionally, credit [...] [...] I took out student loans that I didn’t actually need during my undergraduate years. I did need to borrow for my graduate work, but student loans weren’t necessary before that. Additionally, credit [...]

]]> By: Mitsy http://financialhighway.com/you-need-to-borrow-money/#comment-6520 Mitsy Mon, 11 Oct 2010 18:00:57 +0000 http://financialhighway.com/?p=4352#comment-6520 While some of these "tips" are good (and kind of obvious) for most people, it's unrealistic for many of us to try to buy a car (or other major purchase) without getting a loan. I don't know about the rest of you, but I don't have $10,000 just lying around. Sure, you can spend a lot less on an older car (and I've driven my share of clunkers in the past) but if you need reliable transportation, driving an older car isn't going to cut it. Chances are good that you'll need a loan for the car and that's just the norm for most people. I'd suggest saving at least $1,000.00 for the car &/or sales tax, but otherwise, a car is a major purchase but something most people need in order to continue going to work. I pay about $300 extra a month on my mortgage and will have it paid off in a little over 5 years. So, it's good to have goals & be working towards paying things off, but don't insinuate that being in debt is something for the ignorant because most of us have debt and paying cash for everything just doesn't work for a lot of people. While some of these “tips” are good (and kind of obvious) for most people, it’s unrealistic for many of us to try to buy a car (or other major purchase) without getting a loan. I don’t know about the rest of you, but I don’t have $10,000 just lying around. Sure, you can spend a lot less on an older car (and I’ve driven my share of clunkers in the past) but if you need reliable transportation, driving an older car isn’t going to cut it. Chances are good that you’ll need a loan for the car and that’s just the norm for most people. I’d suggest saving at least $1,000.00 for the car &/or sales tax, but otherwise, a car is a major purchase but something most people need in order to continue going to work. I pay about $300 extra a month on my mortgage and will have it paid off in a little over 5 years. So, it’s good to have goals & be working towards paying things off, but don’t insinuate that being in debt is something for the ignorant because most of us have debt and paying cash for everything just doesn’t work for a lot of people.

]]> By: Financial bondage http://financialhighway.com/you-need-to-borrow-money/#comment-4183 Financial bondage Tue, 29 Jun 2010 23:15:52 +0000 http://financialhighway.com/?p=4352#comment-4183 I would politely point out that you don't have to borrow money. Well, perhaps for a 15 year mortgage... but that would be the only reason. All the other loans mentioned could be paid using cash... assuming someone made a decent income, paid off their debt, and saved like mad. We really need to get rid of the mindset that we have to borrow and take on debt... we do have options... we can say no thank you. Prior to 1950, lots of debt was rare... home loans were rare, car loans were 12 months or less.. .and credit cards did not exist. So people had little or no debt and they lived just fine. The good ole days. I think we need to get back to this "do not borrow" mindset. It won't be easy.... but it is doable. :) I would politely point out that you don’t have to borrow money. Well, perhaps for a 15 year mortgage… but that would be the only reason. All the other loans mentioned could be paid using cash… assuming someone made a decent income, paid off their debt, and saved like mad.

We really need to get rid of the mindset that we have to borrow and take on debt… we do have options… we can say no thank you. Prior to 1950, lots of debt was rare… home loans were rare, car loans were 12 months or less.. .and credit cards did not exist. So people had little or no debt and they lived just fine. The good ole days. I think we need to get back to this “do not borrow” mindset. It won’t be easy…. but it is doable. :)

]]> By: Anthony Kirlew http://financialhighway.com/you-need-to-borrow-money/#comment-4168 Anthony Kirlew Mon, 28 Jun 2010 22:41:50 +0000 http://financialhighway.com/?p=4352#comment-4168 Agreed, financing is a huge part of life. I am on a mission to help people learn how to become their own banker and learn how to become their own source of financing. You can learn more at Becoming Your Own Banker 101 - http://www.byob101.com. Agreed, financing is a huge part of life. I am on a mission to help people learn how to become their own banker and learn how to become their own source of financing. You can learn more at Becoming Your Own Banker 101 – http://www.byob101.com.

]]> By: 3 Simple Tips for Borrowing Smart http://financialhighway.com/you-need-to-borrow-money/#comment-4162 3 Simple Tips for Borrowing Smart Mon, 28 Jun 2010 10:56:18 +0000 http://financialhighway.com/?p=4352#comment-4162 [...] are new here, you might want to subscribe to the RSS feed for updates on this topic.For most of us, borrowing money is a fact of life. It has to be done. While cash can be used for most things, a completely cash [...] [...] are new here, you might want to subscribe to the RSS feed for updates on this topic.For most of us, borrowing money is a fact of life. It has to be done. While cash can be used for most things, a completely cash [...]

]]> By: Are you ready to buy a home? http://financialhighway.com/you-need-to-borrow-money/#comment-3919 Are you ready to buy a home? Wed, 09 Jun 2010 11:16:37 +0000 http://financialhighway.com/?p=4352#comment-3919 [...] and the 20% rule is still a good one to aim for. The bigger your down payment, the less you have to borrow, and the lower your monthly payment will [...] [...] and the 20% rule is still a good one to aim for. The bigger your down payment, the less you have to borrow, and the lower your monthly payment will [...]

]]> By: Personal Finance Buzz http://financialhighway.com/you-need-to-borrow-money/#comment-3816 Personal Finance Buzz Tue, 01 Jun 2010 12:22:14 +0000 http://financialhighway.com/?p=4352#comment-3816 <strong>Personal Finance Buzz...</strong> Your story was featured in Personal Finance Buzz! Please visit and promote your article.... Personal Finance Buzz…

Your story was featured in Personal Finance Buzz! Please visit and promote your article….

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