With great regret, The tractor must be sold.

[BrokeFarmerJohn]

I have been a tractor owner for two years now.

Before I bought my tractor, I never heard of TractorByNet, I joined shortly before I purchased my 2005 JD 4320. I can say I have been fairly active on the site in this time. I find myself quoting what I learned on this site in real life quite a bit.

I have gotten the opportunity to learn from so many very experienced and knowledgeable people and it’s because of those knowledgeable people I, soon have to part with the tractor. (In the spring)

A few people on here turned me on to Dave Ramsey, I looked him up one day on my lunch break and watched a few of his videos and have been kinda hooked since lol. I have always thought I was good with money.... I would put the term more like “clever” with money, but I never really had guidance.

Debt Free (except the house) is something I have chased for a while now and it’s been a losing battle but after crunching numbers I can only do it by selling the 4320 and go down to just the JD 455 garden tractor. This also means taking a break from the “hobby farm” for a year or two.

The tractor was really the last thing I wanted to sell, I will deff regret seeing it have a new owner, it’s been very reliable machine and has never caused me troubles in the two years I have had it.

I just want to say thank you to all the people on this site, I have learned so much from this site as well as being a tractor owner in RL and running a hobby farm. It was a great experience. Something I will pick back up on later in life. I’m 28 years old so I have a little time lol.

I will push snow, mow and do yard chores with the 455, so I’ll stick around on here. But I will surely miss having a loader handy moving stuff around.

 

[Wagtail]

Good on ya for taking the 'long view', the media tends to push "the youth of today" as being over-spending, live in the moment, "I want it now!"... well, you get the gist. You're simply re-grouping to secure a solid foundation.

Very sensible.

The time will indeed rapidly pass and then you'll have that new(er, to you, if that's your choice) tractor.

And of course you'll "stick around"... a 455 is still a tractor. :thumbsup: Besides that, I'd have to say that 3/4 of the advice that I give on TBN is stuff that I've learnt from the good people on TBN.

(I can't do it all, ya'know...)

 

[Diggin It]

First off, I'd never get hung up on some web guy.

Second, was there a reason you needed or thought you needed a bigger machine? A lot of us went with smaller machines that are quite capable.

Third, I'm pretty sure there are loaders available for the 455 is that's all you need.

 

[TripleR]

BrokeFarmerJohn, most of us can fully understand. My brother and I bought and fixed up well worn used machines until we could comfortably afford new. We still use the old ones though. Good luck in your future.

 

[Thomas]

I understand..turn the page start new chapter.

Once bitten by tractor fever there ain't no cure.

 

[BrokeFarmerJohn]

First off, I'd never get hung up on some web guy.

Second, was there a reason you needed or thought you needed a bigger machine? A lot of us went with smaller machines that are quite capable.

Third, I'm pretty sure there are loaders available for the 455 is that's all you need.

The reason I got the 4320 was to feed round bales at first with plans of bush hogging, driveway repair etc.

I’m the last person to get hung up by some fly by night dude selling the next self help book or get rich quick, was prob the reason I never heard of Dave Ramsey before I came to TractorByNet. The ONLY reason I looked him up was because of the reference.

But his plan is sound. The plan is to get out of debt (besides the house), I can sell everything I don’t need and it still won’t get me out of debt, my only play is to sell the tractor and use the equity I built in it.

 

[BrokeFarmerJohn]

Good on ya for taking the 'long view', the media tends to push "the youth of today" as being over-spending, live in the moment, "I want it now!"... well, you get the gist. You're simply re-grouping to secure a solid foundation.

Very sensible.

The time will indeed rapidly pass and then you'll have that new(er, to you, if that's your choice) tractor.

And of course you'll "stick around"... a 455 is still a tractor. :thumbsup: Besides that, I'd have to say that 3/4 of the advice that I give on TBN is stuff that I've learnt from the good people on TBN.

(I can't do it all, ya'know...)

Thanks buddy.

I bought my house 4 years ago at the age of 24, I got clever with cash to come up with the down payment. I bought the house with debt, every time I turned around it seemed, I was spending money on something, (water softener, washer and dryer, dishwasher, fridge, Convert incandescent to CFL bulbs (over 200), buy a lawn mower, car repairs, buy buy buy). I just never got the debts paid off.

Then I got into hobby farming so I needed a bigger truck, trailer and tractor....

I never missed a payment, paid what I could with cash which ended up being a good amount of unsecured debt.

I could make payments and have everything except the house paid off in about 4 years, I can make the payments and I don’t struggle to pay them BUT...

Looking ahead, I’m not getting ahead by doing that, I would rather be debt free in under a year, then not worry about money and pay cash for everything “including the next tractor”.

Like Dave Ramsey quoits a lot. Proverbs 22:7 The rich ruleth over the poor, and the borrower is servant to the lender.

As long as I owe, I will never get ahead.

 

[Diggin It]

Until this recent purchase, I hadn't been in debt to anyone for over 10 years. I had two small car loans for a short period, both of which were paid off well before their terms.

Since this tractor loan is being paid out of a type of 401K plan, I'm not really even in debt now.

Everything else, house/property, the two old cars, all gadgets are paid for in full. My two CCs pay all my bills automatically and are themselves paid off in full every month which means no CC interest. Since I earn bonus points on them, it's like they're paying me to use them.

The 'secret' is to live below your means. As far below as possible/practical. Save as much as you can each month. My goal was to live on less than half of my monthly income. That allowed me to bank enough to live on for several years until certain retirement plans could kick in.

I avoided most pitfalls others fell into. No fancy gadgets as soon as they hit the market. No new cars, ever. All used, once they fell below half of their original price. No high satellite or cable bills when I didn't have the income to cover them. No high cell phone bills; my current 'smarter than me' phones cost me about $10/mo each and I'll be dropping the second in the next month or two.

No extravagant vacations every year. I traveled all I could stand early on and just don't have the interest any more.

No web guy needed to show me any of that.

 

[Thall303]

A Dave Ramsey course should be required for all High School students.....and for many others!

 

[Sigarms]

A Dave Ramsey course should be required for all High School students.....and for many others!

+1

My 14 year old got his first cell phone for Christmas (which I already kind of regret, but it can be used for after school activities). He had his phone taken away already for discipline, to which he complained about, and I asked him who is paying the monthly plan on "his" phone. He informed me that all the other kids have their parents "cover" their cell phone plans. I then asked him if he thought I should cover his car insurance as well when he wants to start driving.

At least these two now can get working papers and both will be getting jobs one way or another this upcoming summer. Taxes, insurance and gas are nice things to learn about, particularly when it comes out of your pocket.

When I drive by the high school in my rural county, I'm just amazed at all the nice cars these kids drive to school. Last year my boys joked that there was no way they'd drive "my" work car to school. Now, funny enough, if it doesn't cost them anything, my work car is starting to look pretty good to them if I offer it to them LOL

BFJ - Although you may be selling the tractor, sounds like you have a pretty good head on your shoulders. The only house I bought was this one about 13 years ago and I was pushing 40 by that time.