A place to live is one. Modest means of transportation. Education with a

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Dec 17, 2024
11:39:44am

gwalker All-American

A place to live is one. Modest means of transportation. Education with a

reasonable amount of debt that can lead to career prospects that will enable you to pay it off.

That said, with counsel from me and my wife, we have three kids that have bachelor's degrees that graduated with zero debt. And a son is starting law school with reasonable plans to graduate with no debt.

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gwalker

Bio page: gwalker
Joined: Aug 8, 2001
Last login: Dec 17, 2024
Total posts: 57,445 (7,783 FO)

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Messages

Author

Time

Pro tip that's obvious but not always lived: Pay off your credit cards every

gwalker

11:19am

Well TNT's philosophy is "Buy now, pay never"

TNT

11:20am

Die owing the banks millions while you have nothing.

Archaea

11:21am

That sounds like a problem for future TNT anyway.

gwalker

11:22am

Exactly. Like Jerry says staying up late is "morning guy's problem"

TNT

11:22am

It's surprising that lenders actually want to be repaid. The nerve

Archaea

11:24am

Been doing this for 20+ years. I use card for everything to get points and pay

TheSpiker

11:21am

Two lives:

Archaea

11:23am

This is why I don't understand why more people aren't for restructuring student

Sparkling Delirium

1:02pm

RE: This is why I don't understand why more people aren't for restructuring

Powerbait DPM

1:45pm

I'm not aware of any cards these days where interest doesn't begin to accrue from the date of purchase,

ChinaFan

11:28am

Huh? I don't know of any credit cards that will still charge you interest even if you

Skeptical Optimist

11:32am

I don't accrue any interest

Himni

11:32am

None of my cards charge interest unless I carry over a balance

gilbertatty

11:33am

I have never heard of this. If you have a card doing that, get a different card.

TheSpiker

11:34am

I'm not aware of any credit cards that accrue interest from the date of purchase

Manti

11:35am

Maybe it's from experience with an old card. I have mine on autopay so there is never any carry over, but I haven't

ChinaFan

11:37am

just checked, no interest or fees all year, and I earned 100,000 miles

ChinaFan

11:39am

My problem with multiple payments per month is

Archaea

11:40am

A line of credit from your bank might, but not a standard VISA, AMEX, etc.

NumbersGuy

12:09pm

Interest running, are you sure?

Archaea

11:36am

Not sure and not true

citron

11:46am

Time to get a real credit card...

my4boys

11:40am

Are you outside the US? Super curious about this. Like the others, I have never

RoboKayne

12:18pm

Update: I did some sleuthing. I think OP may be based in China. It does not

RoboKayne

12:20pm

The other thing that would not surprise me is if CC agreements are shifting

RoboKayne

12:25pm

Depends on your credit score. Credit One will charge you interest immediately

Princepete

12:22pm

That's not how cards work in the US

justAnotherCoug

12:53pm

Some pay interest and some earn it. These groups live completely different lives

11:29am

What necessities do you think are fine to go into debt for?

brazilcoug

11:33am

A place to live is one. Modest means of transportation. Education with a

gwalker

11:39am

Few things annoy me more than people without money saying they "need" a new car.

11:43am

A large car payment on an expensive car to impress your 3 neighbors is

brazilcoug

11:51am

What you live is also what your children learn, sadly and gladly.

Archaea

11:46am

I know it’s more challenging but no loans on cars or schooling is just as

brazilcoug

11:49am

Well done.

Archaea

11:50am

Eh, I think you’d be surprised at how many people have car payments and/or

brazilcoug

11:53am

If we had a guessing game, I'd wager it would be a much smaller percentage than

Archaea

11:55am

I'm sure it's less than 1% if not much less than 1%.

Powerbait DPM

12:04pm

Buying a good, used vehicle has benefitted many people.

Archaea

12:08pm

House, car(s), education and CFB season tickets.

neboutefan

11:48am

We are dealing with what you did in the past. Mostly my fault 🤦

BulldogCoug79

11:35am

You're exactly right. And there's a lot of peace on the other side.

gwalker

11:37am

I paid off my house this fall, decided I didn't want a loan out there for another 5 years as we retired 18

ChinaFan

11:43am

The CC charge for taxes is not worth in my opinion. I pay taxes from

Archaea

11:49am

Get free of the interest trap and never go back.

Archaea

11:38am

This is a very powerful quote that I share with my children on a regular

11:46am

A powerful quote.

Archaea

11:48am

RE: Pro tip that's obvious but not always lived: Pay off your credit cards every

Powerbait DPM

11:52am

Super silly SNL skit but it is true to the bone. Share with your children to

11:59am

Credit cards are great for record keeping and travel points - never carry a

Jersey hunter

2:13pm

They are lines of credit if paid off monthly.

Archaea

5:12pm

Also, security. They are great at identifying and paying for fraud.

RoboKayne

7:34pm

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