nc ks | jd7520 - 12/28/2025 08:05
All being debt free does is put your destiny, decissions and future into your own hands and control. Having debt puts you under the control of your lender. And no it does not kill the farm.
Ok, not expanding the farm for future generations kills the farm. It is much harder to expand without debt. In isolation, not using debt when roi of the item causing debt is higher than the interest rate of the debt is not good business. Wealth can be built by debt if you know how to manage it. I guess I don't have a single day that I wonder what my lender thinks I must do. The only thing he does is decide whether I'm a good risk or not. Yes or no. I have much more freedom from using someone elses money to make money than I would have if I never borrowed money. I have nothing against the idea of being debt free, it just isn't a goal of mine. I also don't use debt to live a lifestyle. I think that is where a lot of people get tripped up and where some get the idea debt is bad. Having no personal debt I'm 100% on board with. |
How many debt free farmers?
