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re: Giving Free advice thread

Posted on 6/11/21 at 1:22 pm to
Posted by A Smoke Break
Lafayette
Member since Nov 2018
2098 posts
Posted on 6/11/21 at 1:22 pm to
Always have just one credit card and use it as a gas card. Do not touch it outside of that. Pay it off every month. Utilize an index fund for your retirement, a savings account as a windfall account, and never get below a grand in checking.
Posted by Displaced
Member since Dec 2011
32764 posts
Posted on 6/11/21 at 1:24 pm to
quote:

Always have just one credit card and use it as a gas card. Do not touch it outside of that

This is horrible advice.
This post was edited on 6/11/21 at 1:25 pm
Posted by Mingo Was His NameO
Brooklyn
Member since Mar 2016
25455 posts
Posted on 6/11/21 at 1:36 pm to
quote:

Always have just one credit card and use it as a gas card. Do not touch it outside of that.


No

quote:

Pay it off every month.


Yes

quote:

Utilize an index fund for your retirement,


Partly

quote:

a savings account as a windfall account


Eh, better vihicles but this is safe

quote:

never get below a grand in checking.


Depends, I don't keep that much. I have one transaction debited every 6 months. I usually keep somewhere around $500.
Posted by Displaced
Member since Dec 2011
32764 posts
Posted on 6/11/21 at 1:37 pm to
quote:

and never get below a grand in checking.



I would say never no need to keep more than a grand in checking.
Posted by mikelbr
Baton Rouge
Member since Apr 2008
47858 posts
Posted on 6/11/21 at 1:53 pm to
quote:

Always have just one credit card and use it as a gas card. Do not touch it outside of that. Pay it off every month. Utilize an index fund for your retirement, a savings account as a windfall account, and never get below a grand in checking.



I hope something financially bad happens to people like you.

And I want people like WDS and Mingo to get really fat.

This post was edited on 6/11/21 at 1:55 pm
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