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#290746 - 12/14/07 09:07 PM Re: Money Sense [Re: Svengali]
London Offline
CoS Member

Registered: 02/15/04
Posts: 965
Loc: The Inmost Dens
I've yet to meet anyone who doesn't think I'm mentally abnormal for buying my vehicles in cash. Apparently $4,000 is way to much to spend on a Jeep advertised for $8,000, and $2,000 is way too much to spend on a motorcycle worth $3,000. Yes, folks, haggling and paying all at once really does produce these results!

So call me crazy.
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#290796 - 12/15/07 05:08 AM Re: Money Sense [Re: Svengali]
x9x Offline
CoS Member

Registered: 12/10/04
Posts: 958
Loc: Flanders - Europe
I know cases of families having a bulk of loans going on for everything they own, the fancy flat screen TV, their furniture, their car that got wrecked while being drunk behind the wheel.
They basically pay-off huge amounts of money for stuff that they normally can't afford, the wrecked car they dont have anymore included. These are the lowest of the low, and the majority of people are living this way. Stupidity supreme for sure.
The only reasonable loan might be for real estate, I needed money to accomplish my goals company wise and the money you loan you can deduct from your tax money over here, so that's a pretty good formula...renting a building was around $1500 per month, paying off the building I bought is $1600 per month, but in the end it's gonna be mine.
I don't believe in loaning money for personal stuff like tv sets, cars and what not...if you can't afford it, don't loan for it.
A credit card got rarely used here, as I prefer paying things with cash money as much as possible.



Edited by x9x (12/15/07 05:09 AM)
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#290825 - 12/15/07 08:38 AM Re: Money Sense [Re: Svengali]
DarkApollyon Offline
CoS Member

Registered: 10/18/05
Posts: 581
Loc: Brighton, England
Having this year finally freed myself from some debts incured through my own stupidity and unrealistic spending for the position I was in at the time, I wholeheartedly agree with you!

I no longer possess any credit cards, and have no intention of doing so for the foreseeable future. Neither will I be taking out any further loans of any sort!

Even though getting out of debt has left us slightly tighter financially in the short term than I would consider ideal, our position should improve within the next 12 months or so, and it feels so good to finally have been able to put that period of youthful stupidity behind me!

That being said the position here in the UK regarding consumer debt among the population reads like a timebomb waiting to explode, and I feel there will be long term economical repercusions when the shit finally does hit the fan in the near future....
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#291311 - 12/17/07 09:48 AM Re: Money Sense [Re: AurEum]
Moon Shadow Offline


Registered: 10/01/07
Posts: 58
Loc: ohio
Hi,

Does anyone here Remember the cartoon where starving mice found lots of cheese and eat it till they are very sick? They are then offered cheese later and they are appaled green faced and scream with disgust, 'Cheese!!!!!!!'
Well, having credit cards in the past and I had awful debt. My credit is excellent now and when I get a call from Visa, Master Card, Discover Card, yadda...
I scream into the receiver, Cheeeeese!!!

Moon Shadow
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#291316 - 12/17/07 09:58 AM Re: Money Sense [Re: Moon Shadow]
Leske Offline


Registered: 12/16/07
Posts: 48
Loc: Iraq - Usually Kansas City
LOL.. I think I would pay money to see that. Do you accept Diners Club?

I prefer to purchase everything I have with cash. Not withstanding my own paranoid reasons for doing so... I find that having something that is yours outright is much better than owing someone... I hate to not be in total control of my life, and owing money to someone gives them too much power over you.

Now if I could just pay off this stupid car... yeah, hypocrite, I know. :P
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#291429 - 12/17/07 08:41 PM Re: Money Sense [Re: Svengali]
Bill_M Offline
CoS Magister

Registered: 07/28/01
Posts: 11565
Loc: New England, USA
 Originally Posted By: Svengali
Credit cards are good to have for emergencies and basically indispensable if you travel, book reservations, or rent cars.

I absolutely agree. I love to travel, and I don't know how I could (nor why I'd want to) book a hotel room or rent a car without a credit card. Never mind the fact that I buy stuff on-line a lot, and have services that charge by the month (internet services, gym, etc.). That beats having to write out checks. Plus it helps your credit history if you can show that you can responsibly use a credit card.

 Originally Posted By: Svengali
I see people in gas stations and convenience stores paying with credit cards! Nothing like paying interest on gas you burned up or a soft drink you drank six months ago!

I usually use my American Express card for gas, dining, monthly-charged services (internet, etc.) and what not. It's an interest-free card. The only catch is that I have to pay it off every month. But I kind of like that, because it forces me to keep things in check. Their "Membership Rewards" points is a nice bonus too, which I've used to get stuff I'd normally pay for otherwise, like concert tickets and airfare.

As for fees, there's a small flat fee once a year, and interest charged on specific items if the price was huge and I decide to pay it off over time, but that's really it. But I am not, as George Carlin said, ever "paying 18% interest on Tic-Tacs"!
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#291872 - 12/19/07 11:06 AM Re: Money Sense [Re: Svengali]
Kallista Offline


Registered: 11/20/07
Posts: 23
Loc: Long Island, NY
 Originally Posted By: Svengali


When I was little, my Grandfather and I would play MONOPOLY. .



I liked this, for one it reminded me of playing Monopoly with my grandfather as a kid. Good memories. Now, I also liked it because it reminded me of a saying I heard once "you are either Monopoly smart or Trivial Pursuit smart." I, despite my profession (accountant) am Trivial Pursuit smart. ha!

I also hate debt, and I am not playing a victim here, but I would say just about all my debt is due to legal fees and our bullshit justice system. I always paid my lawyers etc. for BS that went of for about four years and never borrowed, but didnt exactly live well either. I am projecting it will take just as long to get back to where I was before it all started. Its all true, debt is bad and associating with a-holes might as well make you one too. Its all about good decisions.
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#292234 - 12/21/07 12:56 AM Re: Money Sense [Re: Svengali]
Boman Offline


Registered: 12/17/07
Posts: 8
I had an interesting conversation with two different people the other day regarding debt.
The first was some twit who had more money than brains.
She was the credit card companys dream.
Wanted to go to a big drug taking party around New Years here in NZ.
Wanted to go soo bad she maxed out her credit card for the airfares and the ticket ! ! ! !
She then complained to me she had to pay her credit card off and still had to get spending money.
I didn't try to explain the problem she had created by not saving for the concert earlier on , she was just too stupid.
The next person was whinging to me the other day how he had got a computer on some 2yr no payments deal and now had to start paying it off. the problem was it just gathers dust as he doesn't use it and it is worth a fraction of the amount he will be paying for it.

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#293629 - 12/27/07 01:38 PM Re: Money Sense [Re: Svengali]
VKat Offline


Registered: 03/23/05
Posts: 157
Loc: Northern California
I have had past co-workers ask me how I manage to be financially better off then them. I believe my extreme dislike for giving other people money sets me apart from them. If you asked them to give up their wide screen HD TV to the credit card companies, they would throw a shit fit; Not having the capability to comprehend that they are giving up a wide screen HD TV every year in interest.

I am a twenty four year old single mother with two kids. Using the equity in my house, some basic student loans, and little bits of help from family to attend college full time. Before this move I only had my house mortgage as a debt. The idea of paying interest on loans to go to school made me sick. It took a friend with a good business sense to remind me of what I would get as a return in a better job. (Crunching the numbers as an interest comparison helps.)

Interest is a great way to enslave yourself. I cannot understand why someone would choose a huge vehicle payment over having the ability to eat food that tastes good.

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#293909 - 12/28/07 10:55 AM Re: Money Sense [Re: VKat]
Kallista Offline


Registered: 11/20/07
Posts: 23
Loc: Long Island, NY
I give you a lot of credit for being a single mother of two at such a young age and still owning a home and holding down your own.
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#294003 - 12/28/07 03:01 PM Re: Money Sense [Re: Kallista]
Vestiphobic Offline


Registered: 12/23/07
Posts: 99
Loc: Minnesota
Thanks for the post, this is good to hear!
I am only 21, and though I have never been in debt (I used the money left to me to pay for college when I was in it), I have never had a lot of savings, living pay check to paycheck, which, when you're 18-20 is just fine, but now I am being forced to look at a whole new world of rent money, bills, insurance etc etc etc, and it really opens your eyes.

Other than selling my paintings here and there, I'm trying to find a way to better invest my money, though to be honest, I am more of a time investor, ie, I will invest more of my free time to things that give me money, like more hours at work, more painting and finishing off that novel so I can really start to rake in the money.

Its unfortunate I think, that not a lot of people ever learn to live out of that sort of near poverty level, but dammit, I'm trying!

(if anyone has any suggestions, I am WIDE open)!
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#294026 - 12/28/07 04:29 PM Re: Money Sense [Re: Vestiphobic]
VKat Offline


Registered: 03/23/05
Posts: 157
Loc: Northern California
Before investing money, it is important to save money in case of a financial hardship. Where I live there is scarce public transportation so the importance of having a working vehicle is high. I have seen a personís vehicle break down, they donít have any money to fix it, so they lose their job, and then lose their home.

If I were you I would keep an eye out for jobs that either assist to further your experience in the arts or places you in a position to meet people who promote artists.

For me living well is more of a self accomplishment. I could have hooked my claws into some rich guy and not had to work the rest of my life, which is fine if that is what makes you happy.

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#294030 - 12/28/07 04:56 PM Re: Money Sense [Re: Vestiphobic]
Shade Offline
CoS Witch

Registered: 07/08/06
Posts: 6135
Loc: A Trailer Park
I really like Sharebuilder (dot com). It's very easy to set up, no account minimums, you can get percentages of stock (so you don't have to buy whole shares), you can invest automatically (so you never need to think about it - it's automatically deducted from your bank account on the schedule you set up), it prints your tax forms. Basically you choose a dollar amount you want to invest, the stocks you want to invest in, and then how you want your dollar amount divided between those stocks. Has all of the usual bells and whistles for research and your money is very accessible in times of emergency. It's one of many things I use but I always recommend it to folks who are intimidated by investing or don't have alot of time and/or money. You really don't need alot of money to get started! I think consistency is more key.
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