Yet another financial question

[Turf1600]

House

Ahh...just the response I was awaiting.

You my friend are WRONG.

If you have had one job for 1 year and have paid rent on time for 2 solid years any under writer can qualify you for the best possible interest rate on a home - assuming you can afford it. Little known fact. If you have no credit history for 6 months you will not meet the minimum criteria to have a FICO score - and the above method will get you a house. Ask me how I know!!!

[Turf1600]

Honest Answer: I buy every nut, bolt, carrot, lunch, gas.... you get the idea.. on my credit card... and pay it off (in full) every month...

Why you ask? 1) Credit Score 2) "Points" I use these "points" to purchase flights when traveling..

IIRC something like 85% of people never use "points" or other credit card perks.

[thectrlguy]

Still waiting for your "formula"

You're totally not grasping the concept. you're getting hung up on the math. with your 10k scenario - we're looking at $450 a year getting in the way of financial freedom. that is marginal.

[thectrlguy]

And?

IIRC something like 85% of people never use "points" or other credit card perks.

[thectrlguy]

NO CREDIT, BAD CREDIT?

PSLOAN CAN HAVE YOU APPROVED!!!

Ahh...just the response I was awaiting.

You my friend are WRONG.

If you have had one job for 1 year and have paid rent on time for 2 solid years any under writer can qualify you for the best possible interest rate on a home - assuming you can afford it. Little known fact. If you have no credit history for 6 months you will not meet the minimum criteria to have a FICO score - and the above method will get you a house. Ask me how I know!!!

[Turf1600]

I can't believe this already..

1) How in the hell did you come up with $450 in your earlier post.

2) No credit cards aren't you're enemy.... ever travel? ever rent a car? stay in a hotel? buy something online? What I'm suggesting, everyone should have a credit card... for any of the reasons noted above..... not for some emergency fund.. did I ever say emergency?

3) Training to be frugal and accountable? What the fuck is the difference between a savings account and a market account? if you can't save the cash.. it doesn't fucking matter...

What is your plan? Keep money in the bank? don't spend any cash you don't actually have? Wow... you should write a book... solid gold my friend... solid gold....

Lol - 450 is the difference between 14.5% and 10% on a 10k CC. Duh...

Ever heard of a debit card?

#3 makes no sense to me

My plan is as follows.

Save 1k to keep from using credit

debt snowball

boost the 1k to 6 months of living expenses (i my case 25k)

Begin contributing 15% of total income into a roth IRA or 401k

Become a millionaire.

I haven't quite gotten to the last step yet but I'm working on it. Currently I'm yielding ~13% in my IRAs. I've been maxed out for 4 months so I'm looking forward to contributing next years funds.

So, YES! My plan is don't spend cash you don't actually have. Any questions?

[Turf1600]

NO CREDIT, BAD CREDIT?

PSLOAN CAN HAVE YOU APPROVED!!!

If you want to make fun of me for not being broke that's fine. The above is not what I claimed at all and you know it. Do you by chance own a home?

I'm not going to get into a pissing match with you. If you want to borrow money your whole life so be it.

[thectrlguy]

Lol - 450 is the difference between 14.5% and 10% on a 10k CC. Duh...

Ok, all things being equal..... that's halfway to your magical amount of 1K in cash...

Ever heard of a debit card?

And?

#3 makes no sense to me

Doesn't surprise me....

My plan is as follows.

Save 1k to keep from using credit debt snowball boost the 1k to 6 months of living expenses (i my case 25k) Begin contributing 15% of total income into a roth IRA or 401k

Become a millionaire.

I haven't quite gotten to the last step yet but I'm working on it. Currently I'm yielding ~13% in my IRAs. I've been maxed out for 4 months so I'm looking forward to contributing next years funds.

So, YES! My plan is don't spend cash you don't actually have. Any questions?

This is coming from the guy that nickel and dimed me on a 2002 cluster... because "I can maybe do like 50 shipped - but i need to find a way for my girlfriend not to kill me"

Spare me, I am far from broke... anytime you want to compare bank statements let me know...

[Turf1600]

Ok, all things being equal..... that's halfway to your magical amount of 1K in cash...




And?




Doesn't surprise me....






This is coming from the guy that nickel and dimed me on a 2002 cluster... because "I can maybe do like 50 shipped - but i need to find a way for my girlfriend not to kill me"

Spare me, I am far from broke... anytime you want to compare bank statements let me know...

Lol. I guess some people just cant figure out a way not to borrow money.
Yeah, I'm a cheap ass - so what? 2002 clusters are not that expensive. I found an early one on the FAQ a few days later for less money.

I know it sucks being broke and relying on credit cards - but there's no reason for you to take my advice to jean personally.

To the OP - I hope you make the right decision.

[thectrlguy]

I own two homes, and two commercial properties.... What makes you think I don't have money?

Do you think Bill Gates uses his credit card or debit card to pay for lunch?

If you want to make fun of me for not being broke that's fine. The above is not what I claimed at all and you know it. Do you by chance own a home?

I'm not going to get into a pissing match with you. If you want to borrow money your whole life so be it.

[thectrlguy]

Which is it? Now you're a cheap ass? Would you want to save the $450? ...
10 minutes ago.... $450 wasn't worth the hassle...

So tell me, ever travel? hotel? (and not some shady trucker motel), rent a car?

Lol. I guess some people just cant figure out a way not to borrow money.
Yeah, I'm a cheap ass - so what? 2002 clusters are not that expensive. I found an early one on the FAQ a few days later for less money.

I know it sucks being broke and relying on credit cards - but there's no reason for you to take my advice to jean personally.

To the OP - I hope you make the right decision.

[Turf1600]

I own two homes, and two commercial properties.... What makes you think I don't have money?

Do you think Bill Gates uses his credit card or debit card to pay for lunch?

I'm not really interested in the answer. Congrats on the 4 properties.

[JGood]

Not everyone lives your lifestyle man. Just because you don't go to school or haven't run into a really tough time in your life doesn't mean everyone else hasn't. What works good for you may be bad for someone else, and vice versa.

[Turf1600]

Which is it? Now you're a cheap ass? Would you want to save the $450? ...
10 minutes ago.... $450 wasn't worth the hassle...

So tell me, ever travel? hotel? (and not some shady trucker motel), rent a car?

I do pretty much whatever I like. why do you ask, kind sir?

I'm a cheap ass when it comes to car parts. Once again, you're mixing my reasoning regarding paying off debt with math. Debt is an emotional struggle - not a mathematical one.

[thectrlguy]

Is this directed at me?

Not everyone lives your lifestyle man. Just because you don't go to school or haven't run into a really tough time in your life doesn't mean everyone else hasn't. What works good for you may be bad for someone else, and vice versa.