SoCal General Chat

[IRON-E]

How many times have you accidentally sat on your balls this week Ed?

A few, so nice of you to be concerned for me. ;-)

[Luke Girard]

Taking Dave Ramsey's Financial Peace class. Tonight's my second class and I'm glad I'm learning about saving my money before I get a job and move out. I plan on never going into debt so no credit card for me I will live in a budget and save. =)

[JFarhanbod]

I sorta wanna sell my m-systems and pick something up like a 15x8 and run meatier tires. Have any of y'all ran both 17s and 15s? How much better is the ride?

[E30_Pare]

Taking Dave Ramsey's Financial Peace class. Tonight's my second class and I'm glad I'm learning about saving my money before I get a job and move out. I plan on never going into debt so no credit card for me I will live in a budget and save. =)

but u need credit at some point.

[Luke Girard]

but u need credit at some point.

For what? I never plan on buying anything unless I can pay for it in cash. If I want something I'll save up for it. The only time I'll go into debt is when I have to buy a house. I don't ever want to buy a new car anyways I'm content with my old BMWs =)

They way he teaches the class is to have no debt and have an emergency fund. So when something breaks, you lose your job or you have unexpected bills you have 3-6 months living expenses saved up so you don't have to scramble for money. You have it saved up just for emergencies so your emergencies don't make you desperate for money and you have to sell your car or house to save yourself. It's really smart and I'm glad I'm learning it at 18 before I move out and have bills. I will always live within my budget and not spend more than I have.

[QUKBMER]

You have to have credit to buy a house,a new car,anything on line,a plane ticket etc etc. Don't think you cant go through your whole life without it bro unless your a rich bastard or you win the Donald trump lotto. You cant live off of just having cash only in Calif bro. When you have kids whole different story all together. You are still to young to know. Enjoy your life right now. Believe me i'm 46 i know already.

[Luke Girard]

You have to have credit to buy a house, a new car, anything on line, a plane ticket etc etc. Don't think you can't go through your whole life without it bro unless you're a rich bastard or you win the Donald Trump lotto. You can't live off of just having cash only in Cali bro. When you have kids its a whole different story all together. You're still to young to understand. Enjoy your life right now. Believe me I'm 46 I already know.

I'm not rich but if I only buy things I can afford I don't go into debt. You DO NOT have to have a CREDIT card to buy things online, a plane ticket or a new car. You can use a DEBIT card which is exactly like cash. But having a credit card is borrowing money and that's what gets you into debt. I never want to be in debt no matter what. My grandparents are very well off and buy everything in cash, check, or debit card. They bought every single one of there cars brand new with CASH! They just bought a 2013 Honda Odyssey for $40,000 in cash with no payments. Why would you ever want to go into debt? The rich rule over the poor, and the borrower is the slave of the lender. I don't ever want to be a slave to anybody over money. If I save money and have an emergency fund like I stated in my last post I will never have a money emergency! I know I'm only 18 and I don't even have a job yet but I want to live life how I want too with out having to worry if I have enough money to pay the bills each month. That is why I will budget, save money, and be prepared for emergencies because they happen weather you plan for them or not.

[Tonys18t]

For what? I never plan on buying anything unless I can pay for it in cash. If I want something I'll save up for it. The only time I'll go into debt is when I have to buy a house. I don't ever want to buy a new car anyways I'm content with my old BMWs =)

They way he teaches the class is to have no debt and have an emergency fund. So when something breaks, you lose your job or you have unexpected bills you have 3-6 months living expenses saved up so you don't have to scramble for money. You have it saved up just for emergencies so your emergencies don't make you desperate for money and you have to sell your car or house to save yourself. It's really smart and I'm glad I'm learning it at 18 before I move out and have bills. I will always live within my budget and not spend more than I have.

you aint from around here are you son. lol.

living within your means is unamerican.

you can live just fine without credit, its a myth that you cant.
I've lived in the States for over 20 years, i'm not super rich or anything, I own everything i have outright and have never applied for any kind of credit.

Debt = Stress = Death.

its easy. if you want something work for it and save the money. you will do just fine without being a slave to some bank.

[RUFFLZ]

what the fuck

[Luke Girard]

You aint from around here are you son. lol.

Born and raised in California! I've never lived anywhere else in my life. I just want to make smart choices with my life. I don't want to be a slave to any bank or anybody and want to enjoy life. I love america because I can chose to live debt free! I believe that being wise with my money will allow me to live the best life I can and support my love of BMWs. =) ;D;D;D;D

[Tonys18t]

Its a good mindset dude.

[ak-]

For what? I never plan on buying anything unless I can pay for it in cash. If I want something I'll save up for it. The only time I'll go into debt is when I have to buy a house. I don't ever want to buy a new car anyways I'm content with my old BMWs =)

They way he teaches the class is to have no debt and have an emergency fund. So when something breaks, you lose your job or you have unexpected bills you have 3-6 months living expenses saved up so you don't have to scramble for money. You have it saved up just for emergencies so your emergencies don't make you desperate for money and you have to sell your car or house to save yourself. It's really smart and I'm glad I'm learning it at 18 before I move out and have bills. I will always live within my budget and not spend more than I have.

I consider this to be common sense.
And you're suppose to make banks and credit lines work for YOU not the other way around by owning them money in interest. It's not hard, just live within your means and take advantage of the rewards.
Also, lines of credit give you window's of opportunity to advance in life. Saying you will buy everything in cash for the rest of your life is not believable.
I highly doubt your well off grandparents got where they are without some sort of line of credit to get them jump started.

[efficient]

lol good luck living in that bubble. everything is getting more expensive everyday. you say your grandparents bought everything cash, well things have changed from there time to our present time. only way i see you being out of debt is if you stay living at home till you save a big chunk of change or if you find a good career or win the lotto.
just my 2 cents.
btw i use my credit card for everything and pay it all at once at the end of the month.

[Luke Girard]

It's a good mindset dude.

Thank you! I'm really happy I have parents that have taught me how to manage money and took the time to teach me and pay for this class. Now to start saving for an e30 M3 and an e34 M5!!!!!!!!!

I consider this to be common sense.
And you're suppose to make banks and credit lines work for YOU not the other way around by owning them money in interest. It's not hard, just live within your means and take advantage of the rewards.
Also, lines of credit give you window's of opportunity to advance in life. Saying you will buy everything in cash for the rest of your life is not believable.
I highly doubt your well off grandparents got where they are without some sort of line of credit to get them jump started.

This is all very true! And yes I know that they have a line of credit just like my parents do too. Although my Grandpa was a Colonel in the Air Force and after he retired he became a well known bronze sculptor. And they saved and invested there money very wisely.

lol good luck living in that bubble. everything is getting more expensive everyday. you say your grandparents bought everything cash, well things have changed from there time to our present time. only way i see you being out of debt is if you stay living at home till you save a big chunk of change or if you find a good career or win the lotto.
just my 2 cents.
btw i use my credit card for everything and pay it all at once at the end of the month.

I do understand that but I don't need to buy it if I can't afford it. And paying off your credit card at the end of each month is exactly like having a debit card. Except you're not borrowing money with a debit card it's already there. And I'm going to college to become a computer engineer!

[Tonys18t]

Saying you will buy everything in cash for the rest of your life is not believable.

It really isnt, if you are prepared to work hard and live within your means it can be done. you just gotta use your head and want it bad enough.

As for this being an old skool idea, i know people under 20 right now who work two or three jobs, dont buy all the latest toys, save and invest their money, and are already very well set up for their future.
A lot of people say they are prepared to work for success but they give up when the going gets tough.