Now that is funny….my oldest who
Sounds like Osha needs to get involved, for hunter safety of course.
No, not necessarily, but you should certainly have a plan and be on track to accomplish your goals laid out in that plan before spending extravagantly. For example, say you want to retire at 65, with a 120k standard of living. To do that successfully, you need to know how much to save each year to do so. Say you’ve done the planning and found you need to max out your 401k and save/invest an additional $20k per year in non qualified accounts. Once that’s done and satisfied for the year, or is solidly on track to be satisfied through automatic contributions, then you get to spend. Until then you don’t. And you also don’t get to spend if doing so now prevents you from saving sufficiently in future years. And if you’re guessing at how much you should be saving/spending, you’re doing it wrong and shouldn’t be spending until you’ve done the proper planning.
At the end of the day, someone will always hate on what you do when it comes to your money or finances. No 2 people will agree on how money should be spent, and more importantly, what's important to them.
Not if you don't ever tell anyone.
Well, a lot of folks won't like to hear this, but if you want to hear the "bottom line", here it is. And it is what it is, regardless what you believe it is. Everything we have belongs to God. He demands 10% of the "first fruits" in our tithe, but it's all (100%) still His. We are just stewards of what He blesses us with, and we all eventually have to answer to Him. So if you believe that taking on even more debt to fund adventure hunts is being a good steward.......well, that's for you to decide and answer for. It doesn't really matter what "we" think.
The same standard should be applied to car loans, second homes, etc. while I disagree with your position, thank you for making the point.
Dont let facts get into the way of people presenting themselves as financial authorities. What I find most entertaining is the average financial advisor or CFP is busy working, especially the ones who have time to lurk on forums and beat a dead horse. If they were such wizards, they would be off on a yacht somewhere being fed grapes and fanned with a feather.
I think the teaching of financial guru Dave Ramsey is very similar to this. A favorite quote of Dave’s is from Proverbs: “The borrower is slave to the lender.”
You aren’t getting a 10 yr loan at 6%.
Metaphorically speaking, the successful ones pretty much do.
I saw rates under 7 online but you are probably correct. I guess there will be fees as well. So you would probably pay the same or maybe save a few grand at most. You would just get to go a couple years earlier and if health or age was a concern that may be a big benefit. Still doesn't look like much of a poor financial decision in this example. The OP isn't going sheep hunting though so their scenarios may not look the same.
