Hi everyone,
I am interested to hear what this forum thinks about debt.
We can have anything we want simply by borrowing the money to get it.
but is this a legitimate way of reaching our goals?

Regards

Robart

Hi Robart,

What would you rather have:

1. Have anything you want and be deep, deep in debt?

2. Have anything you want and still have an abundance of money?

I would prefer the second!

And while we are at it, give me an abundance of anything else I desire in my life!

Create and enjoy a wonderful day!

Lucky

THINK! - The Ultimate Success Seminar
Reserve your seminar seats now and pay the admission fee later!

I might suggest that you search the forums for the word "debt". There will be many comments that may shed some light!

One point someone brought up previously is that there are many good uses of debt. Take real estate mortgages for example. I am not sure of other parts of the world but in the USA it is not very common to purchase your own home or investment property without a mortgage. By leveraging "other people's money" you can create wealth for yourself.

Robart, it depends on what you mean by "debt."

Some people read that word and think of being crushed under the weight of obligations.

But others look at it and just see it as a very useful tool.

Example: If I have accumulated a good-sized chunk of cash, I can pay that all out for a new sailboat. Now I own the boat free and clear and it has begun to depreciate in cash value.

OR, having excellent financial advisors, I can take out a boat loan at a low rate of interest and invest that cash in something that pays at a MUCH higher rate. Now my cash is working for me. In effect, it's paying the "debt" of the loan AND making more cash for me at the same time.

(And there are loads of other options, as well, that could be very smart and profitable.)

See, debt isn't good or bad. It's just what you do with it -- and that, of course, begins with how you think of it and what you expect.

I am one of those "Some people....." Rebecca.
Thanx for your feedback.
I understand it is not appropriate to dwell on past struggles but this is one of my challenges now.

I have been given an opportunity to purchase a 7 acre property at considerably less than the asking price.
I need to decide whether I want to dive back in again.
There is much to consider, is this a trap or an opportunity presented by formless substance.
I dont mean to sound pessimistic, merely realistic.
Thanx for your comments Dave and Lucky

Hello Robart,

To answer your first question: yes, borrowing money is a legitimate way to get what you want. And if you borrow the smart way, you are getting richer than if you paid cash for it.

What do you want? Just forget about the borrowing, debt or past struggles for a minute. Why do you want to buy this property? What will it be bringing you? How will owning it, make you feel?

Just for the fun of it, this morning I went web shopping in "Country homes". It is a Dutch website which specializes in homes and businesses outside of city areas. Saw a lovely property in a town I had never heard of which is located exactly in the region where I would like to live. Funny coincidence, I think it is also about 7 acres.

I have no plans of moving any time soon but I just let my mind play with it. What would it be like? Would I really want to buy this? What more information do I need before I can make a good decision? Reading a few more descriptions, I learned a few more things about the rules of what we call "destination planning". I now know that in some cases I can buy a piece of junk, knock it all down and build a new home. "Destination planning" stated it can be a house of 600 m3 size. I am sorry that I am not converting that for you but 5-600 seems to be the size I am looking for.

I played, and I learned and my home of the future has become more specific. Why don't you try and do the same? Play with your new property in your mind as if you already own it. Listen to your heart and it will tell you if you really want to buy it.

When you make clear your desire, your money choices will automatically sort themselves out.

Caroline

No, my challenge goes far deeper than I let on in that reply.
These thought patterns dont just disappear overnight, its going to take some concerted effort on my part to reach the positive level you good people are at.

I read the book some time back and am rereading it now.
Bare with me peoples,I am dragging my heals.
I feel as tho' I cant really discuss much here til I have Mr. Wattles words more firmly implanted and have identified and dealt with my issues.

I am thankful for your responses and for the opportunity to grow.

Rob

Hey Caroline,

I read your post and I felt a surge of excitement well up inside me.....yes, thats good.
"Just forget about the borrowing, debt or past struggles for a minute. Why do you want to buy this property? What will it be bringing you? How will owning it, make you feel?"

We are going up to look it over this weekend.
I am not going to worry about how it will come, I will focus only on whether it speaks to me or not.
If this is the place we really want, things will work out to make it ours.

Our most immediate desire is to buy a yacht and cruise the world for a few years then we will settle in the mountains.

I shall imagine how sweet that would be if money was not a problem..........oooh baby.

You guys have turned the light on.


Thanks

quote:

Originally posted by Rebecca:
See, debt isn't good or bad. It's just what you do with it -- and that, of course, begins with how you think of it and what you expect.

Very helpful Rebecca! Especially since the same can be applied to everything.

I read about buying a house, renting it out and using the rent money to pay for a loan, etc. Someone else I know is thinking about buying a franchise to get a house. There must be many many applications for this.

Anyway, the reminder that things are not good or bad in themselves, but that that they are what we make them, was very helpful!

Lucky

THINK! - Your Success Seminar
September 25-27, 2007 in Amsterdam, The Netherlands

Thankyou Lucky. You know what....my Partner Nathalie (Swiss)and I plan to be in Switzerland around September-October next year ......... interesting.

Thankyou Rebeccah, You did sum it up beautifully.

So did you Caroline, thanks

Its all in the way we look at things.....

I have searched the forums on the word "Debt" wow, I am not the only one with this question.
Time I began looking into this further.

Til now I have seen any real estate aquisition as taking us off track from the real dream....the yacht.
But if we are smart the one can help us gain the other.

I feel a tad reluctant to bare my soul but the truth is if I didnt need help I wouldnt be here in the first place.