Chuck wrote:

"Rich" wrote in message
...

That's easy!
Don't spend money that you don't have!
If you don't have it now, what makes you think you will have it when you
have to repay the loan?

A loan doesn't GIVE you money... it just time-shifts when you need to
have it.

Rich

Chuck wrote:


That's fine, but what if my credit is poor and I can't get a bank loan?




Well, what if my transmission falls out of my truck or the engine blows?
Both could be a reality with my truck since it has almost 200,000 miles on
it. In this case, I would have to "spend money that I don't have". We do not
have public transportation here to speak of and I work night shift anyways.
Don't think that I could afford $40 for a cab every day...

What about when the A/C goes out in the house? (This is one of the times
that I am glad that I rent)

Refrigerator goes out?

That is the purpose of saving up a small cash emergency fund. You are
right, you can't predict when things like this will happen, but you can
predict that they will happen so you have to plan and prepare in advance
for them.


Matt