I guess I'm the odd duck out - - - other than for a mortgage I don't borrow money - - - I guess that is why every piece of equipment and every vehicle was used except for the 1978 chevy 4X4 I bought new ( still paid cash when I sold a load of hogs ). It served me well to over 500,000 miles but as any tool it passed its us-full life.
Many times I could probably have done good by borrowing but when I was young my father ( he was killed when I was 9 ) drilled into me to pay as you go.
I have many big boy toys but most of them were bought from a junk yard and rebuilt by me. The last decade I am still buying used but buying better than I have in the past.
Is my way the right way? I don't know but I have seen many who have borrowed and looked like the smart guy out there and a few years later they were losing everything.
I have bought my cattle a few at a time - - - took time to build up but no debt. Also I have mostly tillable ground and the cattle are as much a loved hobby as anything so that would make a difference. If I look back over the decades it is amassing to me that I have had the success I enjoy when so many others much smarter than me have failed.
