Go Back   EcoModder Forum > Off-Topic > The Lounge
Register Now
 Register Now
 

Reply  Post New Thread
 
Submit Tools LinkBack Thread Tools
Old 11-04-2017, 04:08 AM   #21 (permalink)
Ecomuggler
 
Xist's Avatar
 
Join Date: Jun 2012
Location: Mesa, AZ
Posts: 5,234

Chorizo - '00 Honda Civic HX, baby! :D
90 day: 40.43 mpg (US)

Mid-Life Crisis Fighter - '99 Honda Accord LX
90 day: 33.7 mpg (US)
Thanks: 3,148
Thanked 887 Times in 662 Posts
How many people use credit cards correctly?

"I made $5,000 from credit card rewards last year!"
"How much did you pay in interest?"
"Why?"

I usually agree with Dave Ramsey. When I disagree I do not say his advice is bad, just that it could be better. I will pay off my debts my way, faster, and save money compared to the debt snowball, but not by a huge margin.

He constantly preaches to cancel credit cards and never use them again. Credit rewards help some people. Others fall into a trap. I could not maintain work in 2007 and could not pay my credit cards. I joined the Army in 2008 and quickly paid off my credit cards, which the banks had already closed, but then I could not find anyone that would rent me a car without a credit card. Ramsey insists you can find one, but that was not my experience several years ago.

Ramsey says that you can get along just fine with no or bad credit, it will just be less convenient, and sometimes more expensive.

Some people need that. I do not think I do.

Denial!

Intervention!

Fish are friends, not food!

Here are more examples of his methods backfiring: https://www.dailyworth.com/posts/430...it-score-price

He gives safe advice that probably works for 95% of people.

I wonder if anyone else gives advice that consistently helpful.

Deviate at your own expense.

  Reply With Quote
Alt Today
Popular topics

Other popular topics in this forum...

   
Old 11-04-2017, 02:29 PM   #22 (permalink)
Master EcoModder
 
Join Date: Jun 2008
Location: Earth
Posts: 4,783
Thanks: 196
Thanked 703 Times in 510 Posts
Quote:
Originally Posted by Xist View Post
"I made $5,000 from credit card rewards last year!"
"How much did you pay in interest?"
Nothing, though I made closer to $500 than $5000. Again, it's really simple: don't buy stuff you wouldn't be willing to pay cash for, and pay the balance in full every month - or whenever the 0% interest period ends :-)
  Reply With Quote
Old 11-04-2017, 03:38 PM   #23 (permalink)
Master EcoModder
 
freebeard's Avatar
 
Join Date: Aug 2012
Location: northwest of normal
Posts: 8,786
Thanks: 1,907
Thanked 2,876 Times in 2,245 Posts
This thread showed up on the subforum main page for me only today. I find it interesting from a dis-interested point of view. I haven't had a credit/debit card since my wife left in 1975. I do have a debit card from Goodwill because they don't give out cash refunds.

Quote:
Imagine me throwing nickels at you!
Please! I hoard nickels. They are the last coin that hasn't been debased (75% copper, 25% nickel). An ammo can full of rolled nickels is worth $40, if the currency gets debased then that becomes $400.

Quote:
Fish are friends, not food!
I am soooo glad I found the thread.
  Reply With Quote
Old 11-05-2017, 11:27 AM   #24 (permalink)
Ecomuggler
 
Xist's Avatar
 
Join Date: Jun 2012
Location: Mesa, AZ
Posts: 5,234

Chorizo - '00 Honda Civic HX, baby! :D
90 day: 40.43 mpg (US)

Mid-Life Crisis Fighter - '99 Honda Accord LX
90 day: 33.7 mpg (US)
Thanks: 3,148
Thanked 887 Times in 662 Posts
Dave Ramsey gives statistics on people spending more due to cash rewards and not paying off their balances like they plan to. Sure, it will work for some people, but if you spend 1% more, or leave a small balance at the end of the month and need to pay interest, there goes the benefit.
  Reply With Quote
The Following User Says Thank You to Xist For This Useful Post:
roflwaffle (11-08-2017)
Old 11-05-2017, 11:33 AM   #25 (permalink)
wdb
lurker's apprentice
 
Join Date: May 2008
Location: the Perimeter
Posts: 691

PlainJane - '12 Toyota Tacoma Base 4WD Access Cab
90 day: 20.98 mpg (US)
Thanks: 245
Thanked 140 Times in 107 Posts
Let's see: 29% interest on the balance, 1% cash back.

Yep. People don't do math.
  Reply With Quote
Old 11-05-2017, 12:16 PM   #26 (permalink)
V8 guy
 
oil pan 4's Avatar
 
Join Date: Jul 2011
Location: NewMexico (USA)
Posts: 4,969

Sub - '84 Chevy Diesel Suburban C10
SUV
90 day: 19.5 mpg (US)

camaro - '85 Chevy Camaro Z28

Riot - '03 Kia Rio POS
Team Hyundai
90 day: 30.21 mpg (US)

Bug - '01 VW Beetle GLSturbo
90 day: 26.43 mpg (US)

Sub2500 - '86 GMC Suburban C2500
90 day: 11.95 mpg (US)
Thanks: 104
Thanked 1,161 Times in 853 Posts
I let mine get up there for a month. Bought a 29cc redmax contractor grade weed eater because I kept finding barbed wire, baling wire, fence posts, cinder blocks, concrete rubble, car parts, cast iron pipe, rebar and a whole pile of other junk with my push lawn mower and kept bending blades. I figured I better get a trimmer before I destroy my push lawn mower or my riding lawn mower and I was not going to buy some weak pos junk from lowes.
And a 60cc echo chain saw after big dried out dead trees broke my electric saw. And some other stuff for the new house. I wanted the 67cc echo saw but they didn't have it. Plus I bought the part to fix my electric saw plus 2 spares.
By next month I should be able to click "pay current ballance" every time I make a payment.
If not I will dig some cash out of my safe deposit box since it's earning 0% and pay stuff off.
__________________
1984 chevy suburban, custom made 6.5L diesel turbocharged with a Garrett T76 and Holset HE351VE, 22:1 compression 13psi of intercooled boost.
1989 firebird mostly stock. Aside from the 6-speed manual trans, corvette gen 5 front brakes, 1LE drive shaft, 4th Gen disc brake fbody rear end.
  Reply With Quote
Old 11-05-2017, 01:50 PM   #27 (permalink)
Master EcoModder
 
freebeard's Avatar
 
Join Date: Aug 2012
Location: northwest of normal
Posts: 8,786
Thanks: 1,907
Thanked 2,876 Times in 2,245 Posts
Quote:
Yep. People don't do math.
People don't do infosec.

Hand a card to a waiter and they disappear with all your routing information to your assets vs scan a QR code to transfer Satoshi. When one Bitcoin reaches $10K, a Satoshi will be worth one dime. Of course the miners will be a significant contributor to
Anthropogenic Global Warming — ASICs are already dieing in the heat.
  Reply With Quote
Old 11-05-2017, 02:22 PM   #28 (permalink)
Engine-Off-Coast
 
Natalya's Avatar
 
Join Date: Apr 2016
Location: Atlanta
Posts: 363

Hyper Black - '10 Honda Insight LX
90 day: 44.99 mpg (US)

Unit-02 Red Insight - '00 Honda Insight 5MT
90 day: 68.53 mpg (US)
Thanks: 135
Thanked 163 Times in 98 Posts
Credit card.. constantly paying it off every month, down to 0, have never (in 8 years of having it) had to pay a % on a balance left over from the previous month.

I used to use a debit card exclusively, but after the Target hack a friend of mine advised me to switch to the credit card so that if that ever happened again it'd just be CC info they stole not debit info. I also still use cash a lot unlike most people who went straight to plastic.
__________________


Silver 2001 Insight (Sold)
  Reply With Quote
Old 11-05-2017, 02:24 PM   #29 (permalink)
Master EcoModder
 
Join Date: Jun 2008
Location: Earth
Posts: 4,783
Thanks: 196
Thanked 703 Times in 510 Posts
Quote:
Originally Posted by Xist View Post
Dave Ramsey gives statistics on people spending more due to cash rewards and not paying off their balances like they plan to.
Of course it won't work if you don't do it. Duh!
  Reply With Quote
Old 11-05-2017, 04:19 PM   #30 (permalink)
Master EcoModder
 
freebeard's Avatar
 
Join Date: Aug 2012
Location: northwest of normal
Posts: 8,786
Thanks: 1,907
Thanked 2,876 Times in 2,245 Posts
Morality is asking yourself what society would be like if everyone did it.

So if everyone used credit card in a way that cost 0% of everything, and accrued added value, how would the surveillance of everyone's financial activity be subsidized? I don't get that.

  Reply With Quote
Reply  Post New Thread


Thread Tools




Powered by vBulletin® Version 3.8.7
Copyright ©2000 - 2017, vBulletin Solutions, Inc.
Content Relevant URLs by vBSEO 3.5.2
All content copyright EcoModder.com