Most of us, looking back, would have to admit that our dads gave us pretty good advice when it came to money. Why was that? I think it was because they had already either been down the wrong road when it came to money or they were smart enough to observe others and stay off the paths of destruction.
My dad was raised by a single mom during the great depression of 1929. His father had abandoned the family leaving my grandmother to care for a family of 4 kids.
Dad told me his childhood memories of slogging through the Kansas snowbanks hunting squirrels and rabbits for food. His first car was a compilation of several junkyard model A parts to make up a running auto.
My dad always said if it costs more than $5,000 dollars it better have a foundation under it. This, of course, was back when a new car was about $5,000 dollars. He was definately not in favor of borrowing money. One could never accuse my dad of acting real spiritual, but he had learned well the old proverb that the borrower becomes the lenders slave.
The older my dad got the more he hated debt. Thing is, the older I get the more I hate debt. Funny how that works, isn't it?
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