--- title: "Meaning & Key Takeaway of: I was only 21 when I bought a…" description: "\"I was only 21 when I bought a five-bedroom detached house in Stoke-on-Trent that was way outside of my financial status in life. I did it by borrowing ..." image: "https://sms4smile.com/quotes/i/677/john-caudwell-9822_bank_i-was-only-21-when-i-bought-a-five-bedro_313584.jpg" --- # I was only 21 when I bought a five-bedroom detached house… ![“I was only 21 when I bought a five-bedroom detached house in Stoke-on-Trent that was way outside of my financial status in life. I did it by borrowing money from my family and the bank, taking out a huge mortgage.” quote by John Caudwell](https://sms4smile.com/quotes/i/677/john-caudwell-9822_bank_i-was-only-21-when-i-bought-a-five-bedro_313584.jpg) [Download](https://sms4smile.com/quotes/i/677/john-caudwell-9822_bank_i-was-only-21-when-i-bought-a-five-bedro_313584.jpg) [Open image](https://sms4smile.com/quotes/i/677/john-caudwell-9822_bank_i-was-only-21-when-i-bought-a-five-bedro_313584.jpg) > “I was only 21 when I bought a five-bedroom detached house in Stoke-on-Trent that was way outside of my financial status in life. I did it by borrowing money from my family and the bank, taking out a huge mortgage.” [John Caudwell](https://sms4smile.com/quotes/author/john-caudwell/) ## About This Quote This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation. Overextending financially to buy a large house can lead to heavy debt and stress. **In simple terms:** Buying beyond means creates risk. Key Takeaway Assess affordability before big purchases. Themes financial risk aspiration debt management Mood anxious reflective Type personal anecdote cautionary When to use this quote - home buying - career planning - family financial decisions Key Concepts mortgage family loans housing market Questions to Reflect On - Do you truly need the house? - How will you manage the mortgage? A Different Perspective High debt can limit future flexibility and increase anxiety. ★ ★ ★ ★ ★ No ratings yet [Borrowing](https://sms4smile.com/quotes/about/borrowing/) [Borrowing money](https://sms4smile.com/quotes/about/borrowing-money/) [Family](https://sms4smile.com/quotes/about/family/) [Life](https://sms4smile.com/quotes/about/life/) [Money](https://sms4smile.com/quotes/about/money/) [Status](https://sms4smile.com/quotes/about/status/) ## Related quotes > [Borrowing money on what's called 'easy terms,' is a one-way ticket to the Poor House. If you think it ain't a Sucker Game, why…](https://sms4smile.com/quotes/will-rogers/borrowing-money-on-what-s-called-easy-terms-is-a-one-way-ticket-to/) [Will Rogers](https://sms4smile.com/quotes/author/will-rogers/) > [I always thought I'd buy my mother a house if I ever became successful - a big, beautiful house on the nicest street in…](https://sms4smile.com/quotes/tom-shales/i-always-thought-i-d-buy-my-mother-a-house-if-i-ever-became/) [Tom Shales](https://sms4smile.com/quotes/author/tom-shales/) > [If you're running a business for the long term, the last thing you should be doing is borrowing money to buy back stock.](https://sms4smile.com/quotes/stanley-druckenmiller/if-you-re-running-a-business-for-the-long-term-the-last-thing-you/) [Stanley Druckenmiller](https://sms4smile.com/quotes/author/stanley-druckenmiller/) > [The Government has to stop borrowing as much money; if we don't, quite frankly New Zealand will be downgraded and interest rates will go…](https://sms4smile.com/quotes/john-key/the-government-has-to-stop-borrowing-as-much-money-if-we-don-t-quite/) [John Key](https://sms4smile.com/quotes/author/john-key/) > [Our role as producers is mainly limited to borrowing money from friends when we run short of cash.](https://sms4smile.com/quotes/sreenivasan/our-role-as-producers-is-mainly-limited-to-borrowing-money-from/) [Sreenivasan](https://sms4smile.com/quotes/author/sreenivasan/) > [We should not be borrowing money from the Chinese to bail out the Greeks. What's coming next? Intergalactic bailouts?](https://sms4smile.com/quotes/jeb-hensarling/we-should-not-be-borrowing-money-from-the-chinese-to-bail-out-the/) [Jeb Hensarling](https://sms4smile.com/quotes/author/jeb-hensarling/) > [There is no practice more dangerous than that of borrowing money](https://sms4smile.com/quotes/george-washington/there-is-no-practice-more-dangerous-than-that-of-borrowing-money/) [George Washington](https://sms4smile.com/quotes/author/george-washington/) > [There were moments where I had no money in my account and I was borrowing money to do stuff.](https://sms4smile.com/quotes/ice-spice/there-were-moments-where-i-had-no-money-in-my-account-and-i-was/) [Ice Spice](https://sms4smile.com/quotes/author/ice-spice/) > [As I have said for many years throughout this land, we're borrowing money from China to buy oil from the Persian Gulf to burn…](https://sms4smile.com/quotes/al-gore/as-i-have-said-for-many-years-throughout-this-land-we-re-borrowing/) [Al Gore](https://sms4smile.com/quotes/author/al-gore/) > [There is no practice more dangerous than that of borrowing money; for when money can be had in this way, repayment is seldom thought…](https://sms4smile.com/quotes/george-washington/there-is-no-practice-more-dangerous-than-that-of-borrowing-money-for/) [George Washington](https://sms4smile.com/quotes/author/george-washington/) > [Basically he never went to work and didn't have a job. Of course I thought he did. I thought he was on the phone…](https://sms4smile.com/quotes/christie-brinkley/basically-he-never-went-to-work-and-didn-t-have-a-job-of-course-i/) [Christie Brinkley](https://sms4smile.com/quotes/author/christie-brinkley/) > [Borrowing money from a bank is sometimes like borrowing money from your children.](https://sms4smile.com/quotes/vikrant-parsai/borrowing-money-from-a-bank-is-sometimes-like-borrowing-money-from/) [Vikrant Parsai](https://sms4smile.com/quotes/author/vikrant-parsai/) > [Except for the con men borrowing money they shouldn't get and the widows who have to visit with the handsome young men in the…](https://sms4smile.com/quotes/martin-mayer/except-for-the-con-men-borrowing-money-they-shouldn-t-get-and-the/) [Martin Mayer](https://sms4smile.com/quotes/author/martin-mayer/) > [In theory, when you're working with a record label, you're just borrowing their money. And that's basically how the record industry works, right? It's…](https://sms4smile.com/quotes/patrick-carney/in-theory-when-you-re-working-with-a-record-label-you-re-just/) [Patrick Carney](https://sms4smile.com/quotes/author/patrick-carney/) > [Viewed from a distance, or through the eye of the All-Knowing CEO of the Universe, the crash of 2008 followed the usual pattern. A…](https://sms4smile.com/quotes/james-buchan/viewed-from-a-distance-or-through-the-eye-of-the-all-knowing-ceo-of/) [James Buchan](https://sms4smile.com/quotes/author/james-buchan/) ## More by John Caudwell > [I do want to keep the Wedgewood Collection in place, intact, and open to the public. Selling it off would be a real tragedy.](https://sms4smile.com/quotes/john-caudwell/i-do-want-to-keep-the-wedgewood-collection-in-place-intact-and-open/) [John Caudwell](https://sms4smile.com/quotes/author/john-caudwell/) > [I make no apology for wanting to make a profit - the more I make, the bigger percentage will go to charity. So most…](https://sms4smile.com/quotes/john-caudwell/i-make-no-apology-for-wanting-to-make-a-profit-the-more-i-make-the/) [John Caudwell](https://sms4smile.com/quotes/author/john-caudwell/) > [I had challenges to overcome as a child, and that was good.](https://sms4smile.com/quotes/john-caudwell/i-had-challenges-to-overcome-as-a-child-and-that-was-good/) [John Caudwell](https://sms4smile.com/quotes/author/john-caudwell/) > [Sometimes your worst competitors are the ones which are dying because they do stupid things.](https://sms4smile.com/quotes/john-caudwell/sometimes-your-worst-competitors-are-the-ones-which-are-dying-because/) [John Caudwell](https://sms4smile.com/quotes/author/john-caudwell/) > [I realised I've got quite a talent for coming up with ideas for design. I've got so many ideas about fashion.](https://sms4smile.com/quotes/john-caudwell/i-realised-i-ve-got-quite-a-talent-for-coming-up-with-ideas-for/) [John Caudwell](https://sms4smile.com/quotes/author/john-caudwell/) > [I always felt, right from a youngster, that it was my destiny to be a success. It sounds a little bit egotistical, but I…](https://sms4smile.com/quotes/john-caudwell/i-always-felt-right-from-a-youngster-that-it-was-my-destiny-to-be-a/) [John Caudwell](https://sms4smile.com/quotes/author/john-caudwell/) > [It's important to show children love, affection and balance and invest time in their moral upbringing.](https://sms4smile.com/quotes/john-caudwell/it-s-important-to-show-children-love-affection-and-balance-and-invest/) [John Caudwell](https://sms4smile.com/quotes/author/john-caudwell/) > [I do like a healthy dose of adrenalin, but my character is more rounded. I am not timid; I like excitement.](https://sms4smile.com/quotes/john-caudwell/i-do-like-a-healthy-dose-of-adrenalin-but-my-character-is-more/) [John Caudwell](https://sms4smile.com/quotes/author/john-caudwell/) > [My father was unwell when I was 11, had a stroke at 14 and died when I was 18. My mother going to work…](https://sms4smile.com/quotes/john-caudwell/my-father-was-unwell-when-i-was-11-had-a-stroke-at-14-and-died-when-i/) [John Caudwell](https://sms4smile.com/quotes/author/john-caudwell/) > [My second business would have succeeded but for competitors' jealousy. I was selling motorbike gear cheap, but the people I was undercutting complained to…](https://sms4smile.com/quotes/john-caudwell/my-second-business-would-have-succeeded-but-for-competitors-jealousy/) [John Caudwell](https://sms4smile.com/quotes/author/john-caudwell/) > [I will stay living in Staffordshire. Other people would be moving offshore. I am reasonably happy to help support the British economy. I have…](https://sms4smile.com/quotes/john-caudwell/i-will-stay-living-in-staffordshire-other-people-would-be-moving/) [John Caudwell](https://sms4smile.com/quotes/author/john-caudwell/) > [I have a helicopter that I use for U.K. business trips, and I fly myself. I have a yacht in Antibes in the south…](https://sms4smile.com/quotes/john-caudwell/i-have-a-helicopter-that-i-use-for-u-k-business-trips-and-i-fly/) [John Caudwell](https://sms4smile.com/quotes/author/john-caudwell/) > [If I died tomorrow, I would regret growing so wealthy and still running the business when there are so many more people I could…](https://sms4smile.com/quotes/john-caudwell/if-i-died-tomorrow-i-would-regret-growing-so-wealthy-and-still/) [John Caudwell](https://sms4smile.com/quotes/author/john-caudwell/) > [If you throw money around like confetti, it just becomes shallow and meaningless.](https://sms4smile.com/quotes/john-caudwell/if-you-throw-money-around-like-confetti-it-just-becomes-shallow-and/) [John Caudwell](https://sms4smile.com/quotes/author/john-caudwell/) > [I suppose I have very undesirable traits. I am very critical, which is very undesirable. But it is good from a business point of…](https://sms4smile.com/quotes/john-caudwell/i-suppose-i-have-very-undesirable-traits-i-am-very-critical-which-is/) [John Caudwell](https://sms4smile.com/quotes/author/john-caudwell/) [Explore all 70 John Caudwell quotes ](https://sms4smile.com/quotes/author/john-caudwell/) ## More Bank quotes > [It isn't what a man's got in the bank, but what he's got in his head, that makes him a great merchant.](https://sms4smile.com/quotes/george-horace-lorimer/it-isn-t-what-a-man-s-got-in-the-bank-but-what-he-s-got-in-his-head/) [George Horace Lorimer](https://sms4smile.com/quotes/author/george-horace-lorimer/) > [My aim was to make money for the bank. You lose track of the amounts involved when you are engaged in this kind of…](https://sms4smile.com/quotes/jerome-kerviel/my-aim-was-to-make-money-for-the-bank-you-lose-track-of-the-amounts/) [Jerome Kerviel](https://sms4smile.com/quotes/author/jerome-kerviel/) > [I earnestly feel terrible for any mistakes at the bank.](https://sms4smile.com/quotes/steve-mnuchin/i-earnestly-feel-terrible-for-any-mistakes-at-the-bank/) [Steve Mnuchin](https://sms4smile.com/quotes/author/steve-mnuchin/) > [You can look at the West Bank. Cities are like prisons. They can be closed quickly by the Israeli forces, and everything stops in…](https://sms4smile.com/quotes/hassan-nasrallah/you-can-look-at-the-west-bank-cities-are-like-prisons-they-can-be/) [Hassan Nasrallah](https://sms4smile.com/quotes/author/hassan-nasrallah/) > [What we prefer to do is operate our investment bank in a way that is like what investment banks used to be, which is…](https://sms4smile.com/quotes/warren-stephens/what-we-prefer-to-do-is-operate-our-investment-bank-in-a-way-that-is/) [Warren Stephens](https://sms4smile.com/quotes/author/warren-stephens/) > [The situation in the West Bank and Gaza involves a military occupation amid urban guerrilla warfare, analogous to the British security measures in Northern…](https://sms4smile.com/quotes/jack-schwartz/the-situation-in-the-west-bank-and-gaza-involves-a-military/) [Jack Schwartz](https://sms4smile.com/quotes/author/jack-schwartz/) > [Remember, your bank will never call and ask you to hand over account numbers or say you must swap money from one account to…](https://sms4smile.com/quotes/angela-rippon/remember-your-bank-will-never-call-and-ask-you-to-hand-over-account/) [Angela Rippon](https://sms4smile.com/quotes/author/angela-rippon/) > [I couldn't be working in a bank and launch a clothing line. It's only because cinema gave me a lot of access that I…](https://sms4smile.com/quotes/vijay-deverakonda/i-couldn-t-be-working-in-a-bank-and-launch-a-clothing-line-it-s-only/) [Vijay Deverakonda](https://sms4smile.com/quotes/author/vijay-deverakonda/) > [If there is a risk in a bank, our first question should be 'Okay, what are you in the bank going to do about…](https://sms4smile.com/quotes/jeroen-dijsselbloem/if-there-is-a-risk-in-a-bank-our-first-question-should-be-okay-what/) [Jeroen Dijsselbloem](https://sms4smile.com/quotes/author/jeroen-dijsselbloem/) > [With post offices and postal workers already on the ground, USPS could partner with banks to make a critical difference for millions of Americans…](https://sms4smile.com/quotes/elizabeth-warren/with-post-offices-and-postal-workers-already-on-the-ground-usps-could/) [Elizabeth Warren](https://sms4smile.com/quotes/author/elizabeth-warren/) > [True wealth is not measured by how much money you've got in the bank or how many toys you've got. Some of the happiest…](https://sms4smile.com/quotes/rashad-evans/true-wealth-is-not-measured-by-how-much-money-you-ve-got-in-the-bank/) [Rashad Evans](https://sms4smile.com/quotes/author/rashad-evans/) > [I might have added zeros to my bank balance and followers to my Instagram account, but apart from that, I still lead a middle-class…](https://sms4smile.com/quotes/vikrant-massey/i-might-have-added-zeros-to-my-bank-balance-and-followers-to-my/) [Vikrant Massey](https://sms4smile.com/quotes/author/vikrant-massey/) > [Monetary policy transmission encompasses the whole continuum of interest rates; of course, the central bank only determines the overnight policy rate.](https://sms4smile.com/quotes/urjit-patel/monetary-policy-transmission-encompasses-the-whole-continuum-of/) [Urjit Patel](https://sms4smile.com/quotes/author/urjit-patel/) > [I actually love Twitter and Instagram. I do think it's so strange to think that 20 years ago, people would never have known personal…](https://sms4smile.com/quotes/lorde/i-actually-love-twitter-and-instagram-i-do-think-it-s-so-strange-to/) [Lorde](https://sms4smile.com/quotes/author/lorde/) > [The Oslo Accords in 1993 determined that the Gaza Strip and the West Bank are a single territorial entity which cannot be divided. Immediately,…](https://sms4smile.com/quotes/noam-chomsky/the-oslo-accords-in-1993-determined-that-the-gaza-strip-and-the-west/) [Noam Chomsky](https://sms4smile.com/quotes/author/noam-chomsky/) Browse all 916 Bank quotes ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Quotation", "text": "I was only 21 when I bought a five-bedroom detached house in Stoke-on-Trent that was way outside of my financial status in life. I did it by borrowing money from my family and the bank, taking out a huge mortgage.", "creator": { "@type": "Person", "name": "John Caudwell" }, "isPartOf": { "@id": "https://sms4smile.com/quotes/#website" }, "url": "https://sms4smile.com/quotes/john-caudwell/i-was-only-21-when-i-bought-a-five-bedroom-detached-house-in-stoke-on/", "about": { "@type": "Thing", "name": "Bank" }, "@id": "https://sms4smile.com/quotes/john-caudwell/i-was-only-21-when-i-bought-a-five-bedroom-detached-house-in-stoke-on/#quotation", "image": { "@type": "ImageObject", "@id": "https://sms4smile.com/quotes/i/677/john-caudwell-9822_bank_i-was-only-21-when-i-bought-a-five-bedro_313584.jpg", "contentUrl": "https://sms4smile.com/quotes/i/677/john-caudwell-9822_bank_i-was-only-21-when-i-bought-a-five-bedro_313584.jpg", "url": "https://sms4smile.com/quotes/i/677/john-caudwell-9822_bank_i-was-only-21-when-i-bought-a-five-bedro_313584.jpg", "width": 1080, "height": 1080, "caption": "“I was only 21 when I bought a five-bedroom detached house in Stoke-on-Trent that was way outside of my…” — John Caudwell", "creditText": "SMS4Smile Quotes", "creator": { "@id": "https://sms4smile.com/quotes/#organization" } } }, { "@type": "BreadcrumbList", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://sms4smile.com/" }, { "@type": "ListItem", "position": 2, "name": "Quotes", "item": "https://sms4smile.com/quotes/" }, { "@type": "ListItem", "position": 3, "name": "John Caudwell", "item": "https://sms4smile.com/quotes/author/john-caudwell/" }, { "@type": "ListItem", "position": 4, "name": "I was only 21 when I...", "item": "https://sms4smile.com/quotes/john-caudwell/i-was-only-21-when-i-bought-a-five-bedroom-detached-house-in-stoke-on/" } ], "@id": "https://sms4smile.com/quotes/john-caudwell/i-was-only-21-when-i-bought-a-five-bedroom-detached-house-in-stoke-on/#breadcrumb" }, { "@type": "WebSite", "@id": "https://sms4smile.com/quotes/#website", "name": "SMS4Smile Quotes", "url": "https://sms4smile.com/quotes/", "publisher": { "@id": "https://sms4smile.com/quotes/#organization" } }, { "@type": "Organization", "@id": "https://sms4smile.com/quotes/#organization", "name": "SMS4Smile Quotes", "url": "https://sms4smile.com/quotes/", "logo": { "@type": "ImageObject", "url": "https://sms4smile.com/quotes/wp-content/themes/sq/assets/icons/icon-512.png", "width": 512, "height": 512 } } ] } ```