Quote:
Originally Posted by strupgolf
Maybe I'm in another world, but why are you worried about a LOC that is money you dont have to buy things you dont need. I've always thought that a LOC is for emergincies. The old way was to SAVE for things you want. Thats what is wrong with this society. My house is worth so much, say 190k, and if I sell it I hope to get 190k. If I want a new roof on the house, I save up for it and pay for it. What did you use the "extra" money for? If you used it, you owe it, plain and simple. I'm not trying to be harsh here, but correct me if I am missing the point.
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This is a great point. I used my line of credit to improve my income producing properties.
I did not buy an Escalade, I did not buy "toys" I did not buy my wife jewelry, I did not remodel the kitchen, I did not take extavagant vacations, I did not buy a bigger house (same house 18 years) I did not impress my neighbors w new Acura's, BMW's, Hummers, Denali's, Suburbans, Leased Mercedes, you get my point.
I live below my means plain and simple. I know I know your saying "but life is short?"
Nothing worse than being old and broke. My inlaws are a perfect example.
I drive a 1984 car, and my wife, a 1991. They never break, knock on wood.
I cant even imagine a car payment, never
Oh yeah I forgot to mention the douche bags that drive Range Rovers, thats a whole new thread
