Firearms Debt

[DeadeyeChrista'sdad]

Had a guy tell me with a straight face that his plain jane rock river was WORTH the 1200.00 or so that he paid for it last time around. I let discretion keep me from pointing out that the TC rifle he ended up trading it for was priced at signifigantly less. Knucklehead.
Meanwhile, I took my time and built one for 640.00 which was worth close to that amount BEFORE the recent mess started. Wonder what it's worth now?? Hmmm...

 

[sepe]

Is anyone willing to admit that they have went into long term debt due to the buying craze and hysteria over the past few weeks? I see a ton of people buying things for far more than they cost a month ago because others are doing so. I just hope everyone remembers that after everything settles down that there will still be time to get stuff and that anything the government does will likely not happen overnight. There will be people attempting to fight the liberals and doing their best to stop or atleast slow down the lawmaking process.
Please don't pjt yourself in a situation to still be paying for a rifle or a handful of magazines 10-20-30 years from now by putting them on a credit card you may not be able to pay off. Now if you can pay it off and like to think you are beating the credit card companies at their game by getting reward points then go ahead and buy what you can find bjt remember to pay it off. If it comes right down to it there will likely be a fight and in the end good will prevail in one way or another. I believe there are enough true Americans left to protect the Constitution and Bill of Rights.
I hope you and all of your families had a good Christmas!!!

I could understand if someone was buying something as an investment and could pay the debt down reasonably quickly but if people see the panic buying as a worthy investment, they probably aren't too good with money. I'd also have a hard time feeling that there enough people that would be willing to fight for the Constitution and Bill of Rights since we've got a good number here that have always been willing to see certain rights taken away because they don't feel it would affect them.

 

[Ejohnson]

I am only a few thousand dollars from being 100% debt free. For a couple years, I haven't used a credit card for anything more than $20 in the gas tank, then it gets paid off that month. I've never used a card to buy a firearm, only cash. And that's the way it will stay. By next Christmas, I will be debt free and will stay that way!!

 

[dave29]

The only thing I owe money on is my house. All my vehicles are paid for and they are newer. I was dumb and got myself into some serious debt years ago, I'm talking hundreds of thousands. It's all paid off now, and it was rough. I don't buy anything unless I can pay for it outright. I used to buy a new $45,000 truck every two years, that is dumb, now I will only buy vehicles that are 2-3 years old and pay cash for it. There are so many big ticket purchases that I wasted tens of thousands of dollars on, it makes me sick. I'll be damned if I am going to go in to debt for some guns.

Live and learn. I learned the hard way. It's all good now though.

 

[hornadylnl]

As long as I'm not asking any of you to pay my bills, why do you care if I go into debt buying guns or related things?

 

[Archer46176]

I was SO suprised to see such a response here. In general all are in line with the way we do things. We have no debt but our home and it was refinanced to half the interest just a few months ago and knocked off 300 from our payment. I bought a few things right before the baby was born and we have a REALLY nice savings but I refuse to buy an AR or AK now. Not that I dont want one but I just dont need one at inflated panic.prices.

Dave Ramsey is definately the man. I squared away out financs a long time ago and that allowed me to stop being a millwright and be a stay at home dad. I cook, clean, sew, fix the stuff around the house, keep the cars well maintained, take care of our animals inside and out and the most important care for our baby girl.

All of our bills are paid ahead and we still save quite a chunk every pay period. If you dont know about him check out Dave Ramsey...

 

[tat2clod]

Well sonofa%$#@% Igot that pre approved loan letter from Shark loan co,its only sixty three bucks a month.I got a frankenstein ar and two p mags and three hundred rounds of ammo are you guys saying someone got me?

 

[KJQ6945]

Never, never, never, never, borrow against your 401k!!!! Unless you are about to loose your home.


As JoFra said: Setup a 2nd savings account, have HR split your direct deposit with the amount you would pay for the loan sent into that account. Be patient then pay cash.

Dont get a loan against your retirement, that's unwise.

I disagree. Your 401k is the perfect place to get cash for an INVESTMENT type of purchase.

1.) Obama got reelected. Do you think the stock market is going to explode any time soon?

2.) your borrowing from yourself.

3.) you pay yourself back with interest.

On obama's first term, my 401k was losing money faster than I could put money in it. What would you rather get a guaranteed 3% that you pay on a loan to yourself, or loose 5% by keeping it in there?

Don't you wish you spent about 10k on registered HK sears about 1985? They were around $300. They're now around $17,000. That would have worked out better than any 401k in history.

 

[techres]

Welcome to smug anonymous.
Last week was fibber's anonymous.
Next week will a meeting of reloader's anonymous and the meeting topic will be, "where can I find any primers?"
It replaces the normal "gun owners unity" which ended last week when members of the "reloaders anonymous" took offense at the "EBR anonymous" members who were chanting "where's the primers?!" (a big hit chant from 2009).

Nothing new here.

Too bad we can't just welcome the new gun owners, be happy for our industry, and hope that the extra $ will leak into politics to keep the c&c mills running on overload.

 

[KJQ6945]

Welcome to all the new gun owners.

2.

 

[The Bubba Effect]

Debt is dumb and cash is king..

I will not go into debt for anything fun or hobby related.
Pay as you go.

Dave Ramsey is my hero.

+1

I have not added debt in years. Debt sucks, kill it.

 

[Turf Doctor]

I disagree. Your 401k is the perfect place to get cash for an INVESTMENT type of purchase.

1.) Obama got reelected. Do you think the stock market is going to explode any time soon?

2.) your borrowing from yourself.

3.) you pay yourself back with interest.

On obama's first term, my 401k was losing money faster than I could put money in it. What would you rather get a guaranteed 3% that you pay on a loan to yourself, or loose 5% by keeping it in there?

Don't you wish you spent about 10k on registered HK sears about 1985? They were around $300. They're now around $17,000. That would have worked out better than any 401k in history.

Who is Obama?? No explosion I can see in the future.

If I don't have the money now or can't set it aside for guns, ammo or whatever you want to purchase. What makes you think you can borrow from yourself and be able to pay it back??

 

[KJQ6945]

Who is Obama?? No explosion I can see in the future.

If I don't have the money now or can't set it aside for guns, ammo or whatever you want to purchase. What makes you think you can borrow from yourself and be able to pay it back??

Obama is the guy that is going to ruin your 401k.

No foreseeable growth in the stock market is the point. Investments are supposed to make money, not loose it.

As for paying it back, I have a job.

The bottom line is this. A 401k is an investment. Contrary to some opinions on here, guns are investments also. They generally appreciate in value, you can pass them to your heirs, and they are blast to enjoy today! Last month, they were a better investment than stocks. Today, who knows?

 

[Lobb40118]

I have not and will not go into debt for anything any longer except maybe a house.