Just my opinion

[Locky]

I have noticed quite a few times on this forum when people talk about financing a travel trailer they will get responses saying "save up and pay cash". Well here is my take on it:
I will use my exact scenario. I bought my trailer new in 2006 for $14,000. I financed it for 10 years and when my trailer was all paid for my total amount was $18,651. So it cost me on average an extra $38.65 a month in interest. I think that was money well spent to spend the quality time i have had with my kids and now grandkids. So for the ones on here that always bring up the stupid comment about saving up to pay cash for that......well enjoy sitting at home saving while the rest of us are out enjoying mother nature and making memories with our family.

[DutchmenSport]

Live fast, love hard, die young, and leave a beautiful memory! (That was my uncle's advise.... um ..... it all "quite" didn't work for him that way. He died at 89.)

[paulcardoza]

Foolish = Asking for advice on how to spend YOUR OWN MONEY on an internet forum.

[wa8yxm]

Locky wrote:
I have noticed quite a few times on this forum when people talk about financing a travel trailer they will get responses saying "save up and pay cash". Well here is my take on it:

Much clipped to save bandwidth.

NOT just your opinion. but that of my College Economics Professor as well... And... One I share.

Most people do not think about this but when you put money in the bank these days they pay a fraction of a percent in interstt. A thousand dollars won't earn but a few cents in interest per year.


But inflation is much, much, much, higher so you are loosing value every day with money in the bank.

ON the other hand.. That loan, may the interest may well be LESS than inflation.. So you are getting ahead.. But in either case, even if inflation does not outpace your interest rate.. You are not falling behind as fast.

[Cloud_Dancer]

If I were to explain the way I did it, no doubt that someone would think I was telling them what to do, and how to do it. Suffice it to say that my way doesn't work for everyone. Heck, it didn't work that great for me either.

[TomG2]

DallasSteve wrote:
It's been suggested by one of the members that most people can't be expected to accomplish what I accomplished and be able to pay cash for big ticket items like an RV because it's usually the result of good luck or rich parents. Let's look at my good luck.

...snip.....

Nobody singled you out as not having made a success of your finances. Many people do. I have been around a long time and have heard people bragging about always paying cash from some not nearly as industrious as you. I have seen fortunes made and lost based on conditions beyond one's control. That does not make them stupid for buying on time or brilliant for always paying cash. And yes, I do consider myself very lucky for being born in the United States of America.

[TomG2]

I belong to a wonderful camping group for Single RVers. In LoW's (Loners on Wheels), we refer to our campers as "rigs". A rig can be anything from the bed of a pickup to a $300k diesel motorhome. Makes no difference to us.

[Lantley]

Campers aren't divided into "have" and "have not" We are all part of the "we made it here today!" (in spite of everything else going on in our lives and the world around us) and that's a good thing!

Don't let anyone pee on your hitch, have fun!

Enjoy it!

DiskDoctr those are words to live by THanks!

[DiskDoctr]

DallasSteve wrote:
It's been suggested by one of the members that most people can't be expected to accomplish what I accomplished...

Hard work, luck, inheritance, etc. Nobody begrudges you for what you have. (or at least they *shouldn't*)

I don't bow before those with a fancy camper, nor do we look down on someone with an older camper. We camp. We enjoy time with our friends and family- including new friends we make on every trip.

Campers aren't divided into "have" and "have not" We are all part of the "we made it here today!" (in spite of everything else going on in our lives and the world around us) and that's a good thing!

Don't let anyone pee on your hitch, have fun!

Enjoy it!

[delwhjr]

DallasSteve wrote:
It's been suggested by one of the members that most people can't be expected to accomplish what I accomplished and be able to pay cash for big ticket items like an RV because it's usually the result of good luck. Let's look at my good luck.

I was lucky enough to be born in the USA. Did anybody else here have that good luck?

I was lucky enough to have good parents. Anybody else?

My parents were middle class; they died with a combined estate of about $100K that my brother and I split. I used most of my share to buy two new cars for my 2 oldest children. Woo hoo! We's Rich!

I was lucky enough to be able to work 40 hours a week in my early 20s with a wife and 2 kids while going to night school to get a degree in accounting. Some people call that luck, I guess.

I was lucky enough to be able to spend hundreds of hours studying for the CPA exam (in the evening after work) and pass while others had the bad luck to be out drinking and partying.

I was lucky enough to decide to change careers at 40 and to spend hundreds of more hours studying computer books to pass Microsoft certification exams (in the evening after work) while others had the bad luck to be drinking and watching football.

I was lucky enough to defer expensive purchases and vacations so that I could save for my retirement and college for my son while others had the bad luck to be running up credit card debt to live for today.

I was lucky enough to never smoke and do drugs and to quit drinking in my 20s when others had the bad luck to keep wrecking their health. I also exercised regularly and ate healthy - more good luck.

I could go on, but you get the picture. None of what I have is the result of wise decisions, hard work, and sacrifice - it was all just good luck.

I would disagree. You made the wise decision to make your own luck 🙂

[DallasSteve]

It's been suggested by one of the members that most people can't be expected to accomplish what I accomplished and be able to pay cash for big ticket items like an RV because it's usually the result of good luck or rich parents. Let's look at my good luck.

I was lucky enough to be born in the USA. Did anybody else here have that good luck?

I was lucky enough to have good parents. Anybody else?

My parents were middle class; they died with a combined estate of about $100K that my brother and I split. I used most of my share to buy two new cars for my 2 oldest children. Woo hoo! We's Rich!

I was lucky enough to be able to work 40 hours a week in my early 20s with a wife and 2 kids while going to night school to get a degree in accounting. Some people call that luck, I guess.

I was lucky enough to be able to spend hundreds of hours studying for the CPA exam (in the evening after work) and pass while others had the bad luck to be out drinking and partying.

I was lucky enough to decide to change careers at 40 and to spend hundreds of more hours studying computer books to pass Microsoft certification exams (in the evening after work) while others had the bad luck to be drinking and watching football.

I was lucky enough to defer expensive purchases and vacations so that I could save for my retirement and college for my son while others had the bad luck to be running up credit card debt to live for today.

I was lucky enough to never smoke nor do drugs and to quit drinking in my 20s when others had the bad luck to keep wrecking their health. I also exercised regularly and ate healthy - more good luck.

I could go on, but you get the picture. None of what I have is the result of wise decisions, hard work, and sacrifice - it was all just good luck.

[farmer_s_daught]

Well, I'm on the 'finance' side (it seems there are lots of 'sides' to this post). Three years ago I was diagnosed with breast cancer and had a double mastectomy (no chemo/radiation, thank goodness!). I also found out that I carry a gene that raises the risk for another cancer. I'd always dreamed of having a trailer and didn't personally know anyone who had one. When I became eligible to receive a portion of my ex's retirement, I realized it would just make a payment on a travel trailer. I was 62, single, (2 yrs ago)and decided that if I didn't take this risk and buy a trailer I'd always regret it. If I waited until I 'saved up' it would never happen. Life it too short---and I want to be able to enjoy my summers for the next few years (I'm a teacher and have summers off). If my cancer returns (heaven forbid) at least I can say--I jumped out on a limb, took a risk and had fun(it scared me to death to learn all the stuff newbies have to learn--and I'm still learning). I've also provided fun times for my adult children as well. As many have posted, make the choice that works for you and we'll all have many great memories.

[winnietrey]

I think there is some truth to the statement," if you did not do it before you retire, you will not do it when you retire". And that often includes spending money.
A person has been very frugal their whole life, it can be very difficult for them to spend, and go traveling etc. No matter how big their bank account

[DallasSteve]

troubledwaters wrote:

DallasSteve wrote:
...Third, you apparently will never know how great it is to have financial security. Let me give you an example. Because I deferred a lot of expenditures when I was younger (I'm hoping you know what expenditure means) I now have reached a point where I will probably run out of time before I run out of money. That's a wonderful feeling. When I was looking for my current apartment I decided that I wanted one with an attached garage, something I wouldn't have done in the past to save for my future. This one happened to be brand new to boot. I decided, it's time to enjoy my money. I've been saving all my life for when I get old. There's no point in saving for when I get old any more. I'm 60. I'm there! This is what I have been saving for. It's great to be at a point where whatever I want (within reason) I can get it; with no debt...

You seem to think it is an either or proposition. That you can't have a comfortable retirement and have borrowed money for an RV when you were younger. That's not at all true, it is possible to have your cake and eat it too. Heck I'm still paying for my house, my RV, a car, paying for college, and still have enough for my comfortable retirement.

You're assuming something that I did not write. Again, I have no problem with what the original poster wrote until he decided to be insulting towards those with a different opinion. Some people can have a comfortable retirement and finance an RV. In the case of the original poster it doesn't appear to me that they will ever know financial security, but that could happen.

[delwhjr]

troubledwaters wrote:

DallasSteve wrote:
...Third, you apparently will never know how great it is to have financial security. Let me give you an example. Because I deferred a lot of expenditures when I was younger (I'm hoping you know what expenditure means) I now have reached a point where I will probably run out of time before I run out of money. That's a wonderful feeling. When I was looking for my current apartment I decided that I wanted one with an attached garage, something I wouldn't have done in the past to save for my future. This one happened to be brand new to boot. I decided, it's time to enjoy my money. I've been saving all my life for when I get old. There's no point in saving for when I get old any more. I'm 60. I'm there! This is what I have been saving for. It's great to be at a point where whatever I want (within reason) I can get it; with no debt...

You seem to think it is an either or proposition. That you can't have a comfortable retirement and have borrowed money for an RV when you were younger. That's not at all true, it is possible to have your cake and eat it too. Heck I'm still paying for my house, my RV, a car, paying for college, and still have enough for my comfortable retirement.

X2
I will be very comfortable in my retirement and I too did not defer any expenses because of the "save everything for retirement" mantra. My plan will have everything paid off when that day comes and I will enjoy the many memories that came from jumping in when I wanted.

[troubledwaters]

DallasSteve wrote:
...Third, you apparently will never know how great it is to have financial security. Let me give you an example. Because I deferred a lot of expenditures when I was younger (I'm hoping you know what expenditure means) I now have reached a point where I will probably run out of time before I run out of money. That's a wonderful feeling. When I was looking for my current apartment I decided that I wanted one with an attached garage, something I wouldn't have done in the past to save for my future. This one happened to be brand new to boot. I decided, it's time to enjoy my money. I've been saving all my life for when I get old. There's no point in saving for when I get old any more. I'm 60. I'm there! This is what I have been saving for. It's great to be at a point where whatever I want (within reason) I can get it; with no debt...

You seem to think it is an either or proposition. That you can't have a comfortable retirement and have borrowed money for an RV when you were younger. That's not at all true, it is possible to have your cake and eat it too. Heck I'm still paying for my house, my RV, a car, paying for college, and still have enough for my comfortable retirement.