On Thu, 07 Aug 2008 11:56:57 -0700, Darren New wrote:

> Jim Henderson wrote:
>> True.  I know that some loans do prohibit certain uses of the money,
> 
> The only restrictions I've ever seen are for gambling (which is more a
> legal restriction) and for paying a "down payment" (because, you know,
> the point of the down payment is it's the part you didn't borrow).

I vaguely recall seeing something about investing in one set of paperwork 
I looked at (not the one we agreed to).

>> Of course.  Most people find it difficult to save up the $14K that we
>> had to spend (total tear-off and replace).  But most people are very
>> poor money managers. :-)
> 
> Depends how much you make, too, I guess. I'm pretty conservative with
> savings.

Yeah, we tend to run closer to the edge than I'd like.  Part of the 
challenge is when you make the transition from "not making much" to 
"making enough to save some" is that you've got to pay off what you've 
borrowed while in the "not making much" phase.  Many people (myself 
included) don't learn until after you get to the "making enough to save 
some" how to really manage money.

Money management is something that I think *should* be taught in school, 
though - there are so many "life skills" that kids coming out of high 
school (or college for that matter) don't have but should; that's one of 
them.

Jim

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