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Aug 4, 2022
7:03
:46
pm
Ozymandias
All-American
And buy all these overpriced goods and services I am marketing to you while I
laugh my way this the bank.
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Ozymandias
Previous username
imanihonjin
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Ozymandias
Joined
Oct 9, 2006
Last login
Jun 27, 2024
Total posts
28,332 (1,309 FO)
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Messages
Author
Time
10 Money Traps To Avoid
brazilcoug
8/4/22 6:32pm
Marriage...kids...
EEcougar
8/4/22 6:36pm
I've done a 401k loan, but it was paid back 60 days later. Ooh yeah and those evil credit cards. I got a couple. Man
DJROSS
8/4/22 6:38pm
RE: I've done a 401k loan, but it was paid back 60 days later. Ooh yeah and
brazilcoug
8/4/22 6:42pm
I have a buddy who swears by his car leases. He says they're great because he
Cougar Junkie
8/4/22 6:38pm
If there was a reasonable drive it into the ground leasing option I might bite, but for someone who racks up serious
DJROSS
8/4/22 6:42pm
If you own your own business, leases with lowest reserve possible can be great.
Mtbcoug
8/4/22 6:50pm
Hmmm. Never considered that. I'll look into it.
DJROSS
8/4/22 7:27pm
“I have a buddy…” 😂🤣😂
brazilcoug
8/4/22 6:43pm
Okay, you busted me.
Cougar Junkie
8/4/22 6:47pm
RE: 10 Money Traps To Avoid
BoiseBlueCoug
8/4/22 6:38pm
BOAT — Break Out Another Thousand
Cougar Junkie
8/4/22 6:39pm
Best family investment I ever did. But ya, it’s expensive.
FromCAtoUT
8/5/22 12:20am
I know a CPA who got financially destroyed by an ARM. Avoid at all cost.
Jeff Spicoli
8/4/22 6:39pm
ARMs can be better products if you know you won’t be in place for very long.
Iman23
8/4/22 6:44pm
You get killed when something unexpected happens.
Cougforgood
8/4/22 8:08pm
Agreed. That's a no go. I don't care how desperate someone is to "own" a house.
DJROSS
8/4/22 6:45pm
Several of those can make a ton of sense in certain circumstances.
garyfan
8/4/22 6:39pm
RE: Several of those can make a ton of sense in certain circumstances.
brazilcoug
8/4/22 6:45pm
RE: Several of those can make a ton of sense in certain circumstances.
garyfan
8/4/22 6:50pm
I am utterly shocked that the guy who insists that he has life figured out
crazY
8/4/22 7:53pm
I used a 401k loan for down payment on house. I got back 300k when we sold 7 yrs
ordinary tri guy
8/4/22 6:40pm
RE: I used a 401k loan for down payment on house. I got back 300k when we sold 7
brazilcoug
8/4/22 6:46pm
Same I borrowed from my 401K 3 years ago to increase my down to avoid pmi.
Utefaninenemyland
8/4/22 7:31pm
And if real estate had gone down while your 401(k) was going up, you would have
Cougar Junkie
8/4/22 7:46pm
I still would have avoided pmi. Paid it back within 6 months. Worth it either
Utefaninenemyland
8/4/22 7:49pm
Same here. I cut out the PMI charges and paid myself back. I'd do a 401k loan
Forzaitalia
8/4/22 7:09pm
401K loans, if you pay them back, are very useful
HiLife
8/4/22 7:44pm
Yep same way for me. It was a great option.
ordinary tri guy
8/4/22 8:06pm
The only one I've done is credit cards. I just have no-fee cards, and always
Cougar Junkie
8/4/22 6:42pm
Yep we do credit cards too under the same philosophy. There is the
AFewThoughts
8/4/22 6:55pm
Ahhh come on.. You can't just have one...
DJROSS
8/4/22 7:32pm
I have a few cards I pay hundreds in fees a year. Its
SouthernBlueBlood
8/4/22 7:44pm
Agreed my Amex BONVOY is a net gain every year. $95 fee but the free night is
Utefaninenemyland
8/4/22 7:52pm
I have sapphire, bonvoy, and Citi Costco- it’s all in about 800 a year
SouthernBlueBlood
8/4/22 8:04pm
I use my Delta Amex for everything but Costco and gas. Delta One next summer
Utefaninenemyland
8/4/22 8:41pm
For me, the Costco credit card works the best. I buy a lot of gas (4% back)
Cougar Junkie
8/4/22 7:58pm
Credit cards are fine
Princepete
8/4/22 6:43pm
Dave Ramsey is great for people that have no discipline and need bright line
Ozymandias
8/4/22 6:50pm
And "baby" steps. Because, you know, a "regular" step can be daunting.
Cougar Junkie
8/4/22 6:56pm
The argument is so…
brazilcoug
8/4/22 7:02pm
Okay dude. Yawn all you want. I have never paid a cent in credit card interest
Ozymandias
8/4/22 7:09pm
Laugh all you want. Glad I didn’t follow his advice.
Ozymandias
8/4/22 7:20pm
Dave Ramsey didn't get rich on the expense side of the equation. He got rich on
Dryfire
8/4/22 7:38pm
Dave Ramsey: Don't use credit cards...now pay me...
WJCougar
8/4/22 7:02pm
And buy all these overpriced goods and services I am marketing to you while I
Ozymandias
8/4/22 7:03pm
… Said every financial advisor ever. Dave doesn’t ask for much and his services
brazilcoug
8/4/22 7:05pm
Do you send him a check in the mail?
garyfan
8/4/22 7:08pm
My biggest gripe about Dave is that he has a debt-free scream hourly on his show
Cougar Junkie
8/4/22 7:10pm
My goodness. Of all the things to complain about.
brazilcoug
8/4/22 7:19pm
I enjoy his show otherwise. When the debt-free scream segment starts, I change
Cougar Junkie
8/4/22 7:24pm
Lol. Look into the money he receives for “recommendations” to ELPs and what it
Ozymandias
8/4/22 7:14pm
Wow. I’ll just 😃
brazilcoug
8/4/22 7:20pm
More like
Ozymandias
8/4/22 7:21pm
#11: paying your employees market rates
Mitty
8/4/22 7:13pm
The "market rate" is how much an employee is willing to work for. To argue
Cougar Junkie
8/4/22 7:16pm
RE: The "market rate" is how much an employee is willing to work for. To argue
Ozymandias
8/4/22 7:19pm
Oops. My bad.
Cougar Junkie
8/4/22 7:25pm
Really dumb to not take advantage of credit card rewards and pay them off.
Manauara
8/4/22 9:16pm
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