What do I know? Well I know A LOT about what not to do and am now learning and practicing what to do. This idea has a lot of room to grow, just like I had a lot of room to grow. I used to think that I was one loan away from having the next big thing that I wanted. My spending behavior was one that included TOO MUCH instant gratification. I wanted a boat, I had some money to get a boat, but my credit union gave me 2.6% interest on a $20,000 loan to buy a new boat. Someone made the age old comment, wow, that’s cheap money. I now know that wasn’t the case, sure it wasn’t a high interest rate and it was a cheap loan mathematically but psychologically it just perpetuated the cycle of instant gratification and the need for having what I wanted now despite the cost, that psychological spiral is far more costly than the interest.
