Yet another financial question

[Turf1600]

Is that a fact? Maybe you didn't listen... I've got two other accounts, plus equity...

But hey, maybe you'll be the next Donald Trump.... or Dave Ramsey... whichever...

What do you do again? Nurse?

full time college student / full time @ outpatient imaging - I'm now doing statistical analysis here. My wife is in nursing school. I have other ventures in the works though.

[thectrlguy]

Is that a fact? Maybe you didn't listen... I've got two other accounts, plus equity...

But hey, maybe you'll be the next Donald Trump.... or Dave Ramsey... whichever...

What do you do again? Nurse?

I'll catch up and exceed in 7 years when I'm 29. Mark my words...lol

[Turf1600]

I'll catch up and exceed in 7 years when I'm 29. Mark my words...lol

[thectrlguy]

29 - Self Employed, Control Systems Eng.

Our advice isn't the same, or this wouldn't have "snowballed" into this...

Nice. How old are you and what do you do?

Mine would be more impressive - but a down payment happened 3 months ago. Seriously - our advice is the same but i use a debit card and you use a credit card. FYI 2 years ago I had 0 dollars.

[Turf1600]

Nada.... the file size is "too large" apparently...

Basic Breakdown:
Checking/Savings 130K
Visa: 1.5K
Online Investments: 40K (trading account)
Line of Credit: 0

Nice. How old are you and what do you do?

Mine would be more impressive - but a down payment happened 3 months ago. Seriously - our advice is the same but i use a debit card and you use a credit card. FYI 2 years ago I had 0 dollars.

[thectrlguy]

Nada.... the file size is "too large" apparently...

Basic Breakdown:
Checking/Savings 130K
Visa: 1.5K
Online Investments: 40K (trading account)
Line of Credit: 0

Can you add it as an attachment? Photo hosting is blocked from my work.

[Turf1600]

Sure....

For the record, this is one of three different accounts (one business and one other account with a CU.... but, I'm in the process of closing my accounts with them. I can't stand credit unions.... )

Let me know if you want the others.

Can you add it as an attachment? Photo hosting is blocked from my work.

[thectrlguy]

Animosity? Could care less about the cluster.... simply don't agree with your advice...

This thread is becoming so useless it's almost funny. Thectrlguy - why do you have such animosity towards me? Because I lowballed you on the cluster?

[thectrlguy]

Sure....

For the record, this is one of three different accounts (one business and one other account with a CU.... but, I'm in the process of closing my accounts with them. I can't stand credit unions.... )

Let me know if you want the others.

You going to post your bank statement too?

[Turf1600]

This thread is becoming so useless it's almost funny. Thectrlguy - why do you have such animosity towards me? Because I lowballed you on the cluster?

[Turf1600]

You going to post your bank statement or not?

[thectrlguy]

Incorrect... only true, if a third party runs your credit. If you are doing it, (due diligence) doesn't effect your rating. PERIOD

Every time you run your credit it impacts your score.

[JGood]

I guess to word what I said better - things like that have a VERY poor return on investment. I would not list them as one of my assets. I agree on the intangible asset part - otherwise I wouldn't have any of it!

What is this debate about anyways?

Of course they have no useful economical return. They also have no economical liability once payed off. My point was, for the third time, this is not an argument about spending habits, so the post regarding middle class, rich, poor, etc... was absolutely pointless, and it was wrong. I forget who it was, wasn't you though.

The debate is about whether credit cards are good or not, and for the third time, IT DEPENDS.


end.

[Turf1600]

They can be intangible assets, not having a dollar value but having a value or pleasure to the owner (intangible). This is actually exactly what I said in my post, not sure what wasn't clear.



That makes no sense. An asset is something with future economic value. A liability is an obligation.

Please do explain to me, how a TV becomes a liability when payed off. I never said anything about not paying off the liability (initial purchase price) and instead, letting it compound like a fucking idiot (most of America?). Don't forget, some people do pay their credit card bills as they get them (or, pro actively, a few times per month, like me).

My point was this is not a debate over what you spend money on.

I guess to word what I said better - things like that have a VERY poor return on investment. I would not list them as one of my assets. I agree on the intangible asset part - otherwise I wouldn't have any of it!

What is this debate about anyways?

[JGood]

Are you arguing that consumer electronics are assets?

They can be intangible assets, not having a dollar value but having a value or pleasure to the owner (intangible). This is actually exactly what I said in my post, not sure what wasn't clear.

If so, they are rapidly depreciating assets. compound that with the interest *SOME* people pay and it turns out to be a very poor financial decision - and a liability.

That makes no sense. An asset is something with future economic value. A liability is an obligation.

Please do explain to me, how a TV becomes a liability when payed off. I never said anything about not paying off the liability (initial purchase price) and instead, letting it compound like a fucking idiot (most of America?). Don't forget, some people do pay their credit card bills as they get them (or, pro actively, a few times per month, like me).

My point was this is not a debate over what you spend money on.