south west mn | deeretick - 6/20/2020 20:57
If you had the debt paid down and not much cash on hand, would you take out a loan to have a larger cash reserve?
Winner, winner, chicken dinner.
I never have over $10,000 in the bank when I have loans. Whenever I get a head I pay down long term debt, when when the next big bill comes I just tap the operating loan.
I’m not going to be paying interest on a $500,000 loan, while having $300,000 in the bank. That would be an extra $12,000 in interest per year just so I could “feel” rich. |
Question for the bankers
