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Old 10-26-2020, 12:56 PM   #17
Slicefixer
Eight Point
 
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Join Date: Jan 2019
Location: NE TX
Hunt In: KS, AR, TX,LA
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Quote:
Originally Posted by curtintex View Post
Just as important as saving, is analyzing compound interest from a debt perspective. I guarantee you there are more TBHers with debt than there are with savings. Compound interest will absolutely kill you from a debt perspective. That **** works against you while you’re working, while you’re sleeping, while you’re on vacation, while you’re charging something else on that credit card or while paying $700k over 30 years for a $200k house. Before anyone worries about compound interest working for them, they should eliminate it working against them. In my humble opinion.


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Yep....👏👏👏...100% One of the most overlooked changes that's occurred over my lifetime is the universally accepted definition of "afford".....

My Ford dealer hunting buddy recently told me this. The number 1 concern of the vast majority of his customers is one thing...."what's the payment?" A Toyota master mechanic also told me recently that Toyota is now offering 10 year financing....10 years? On a vehicle?

Financing a business is understandable and quite often necessary, an absolute. 15/30 @ 2%/3% on a home is understandable, but, 10 years on a vehicle....boat....etc?

I just have a hard time getting a handle around this "stacking debt" mindset. However, it's not any of my biz....

IMOP, it ain't going to end pretty for a lot of folks....

Last edited by Slicefixer; 10-26-2020 at 01:07 PM.
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