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9 Things You Should Never Borrow Money For

2. A Boat.

9 Things You Should Never Borrow Money For

Spending summer on the lake is a lot of fun for the entire family. Soda, swimsuits, and wakeboarding make for a great afternoon.

However, borrowing for a boat can put you back a significant amount — especially once you add the cost of registering, insuring, storing, and launching the boat.

There are many options that can prevent you from needing to borrow to purchase your vessel. If waiting until you have enough money doesn’t sound appealing, considering buying a used boat, buying a boat with friends, renting, or borrowing for your days on the water.

Although these options may not seem as exciting as buying new, it will certainly save you money over time.

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