|
North central, IA | I did exactly as Ron describes. I always avoided the temptation to pay debt early, but instead used any extra cash to pay ahead on operating expenses for the next year or use as down payment on the next land purchase. Remember, principal is repaid with after tax money. Crop expenses are paid with pre-tax money. If you can understand the implications of that, and learn to use it to your advantage, Uncle Sam will finance about a third of your expansion. Its not very sexy, when your compadres are buying new pickups and adding on to their houses and you are very quietly going to your local supplier the last week of December and plopping down a big wad of money but it works...well. | |
|