- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
0
Posted on 7/9/23 at 10:36 pm to jcaz
quote:
I don’t have to lol and I’m entitled to do what I want to do boomer The point is why pay $10k cash for a shitbox that needs constant repairs when i can easily afford a $800 car note and have no stress? You guys that take pride in driving beaters for fun are hilarious. You think everybody else spending their money as they choose is an idiot on the verge of bankruptcy
I don’t get it either. I won’t keep anything more than 10 years old unless it’s a classic car or truck or a certain model I want as a 4th or 5th car.
Posted on 7/9/23 at 10:47 pm to The Boat
quote:
With cash back and other perks you’re doing it wrong if you don’t put everything on a credit card. Not to mention the security it provides over paying straight from a checking account. Pay it off at the end of the month.
The key is to pay it off at the end of each month. There are many perks with using the proper credit card for all of your purchases.
Posted on 7/10/23 at 3:40 am to geauxbrown
quote:
it’s cheaper for me to use someone else’s money
Famous quote heard in every Bankruptcy case
Posted on 7/10/23 at 4:58 am to Dicky
quote:
Enjoy your 2015 Camry.
There's your answer, OP.
People are more concerned about status than financial stability. It doesn't matter how many books are written on the habits of millionaires--people are still going to spend money just to look good.
Only area I disagree with this is a house. I'd rather have a mortgage and put $1000 into something that I own/will own once paid off than $1000 into a rental.
Even if I rented something at $600/month, I could never save enough to buy a house in cash.
This post was edited on 7/10/23 at 5:01 am
Posted on 7/10/23 at 5:36 am to jcaz
quote:
The point is why pay $10k cash for a shitbox that needs constant repairs when i can easily afford a $800 car note and have no stress?
If you're paying $10k for a "shitbox", you're doing it wrong.
I've never owned a new vehicle, and with the exception of 1 vehicle, never had an issue with "constant repairs". And even in that case, I bought it because it was significantly below Blue Book, knowing I could repair it and get my money back out of it.
The only "shitbox" I've ever bought was a $1500, nearly 30 year old SUV that was intended as a recreational vehicle.
Meanwhile, I once worked with a guy that bought two brand new Fords--both were lemons.
This post was edited on 7/10/23 at 5:37 am
Posted on 7/10/23 at 6:04 am to BabyTac
Right, let me wipe out all of my capital when I can use someone's elses money at a small fee or in some cases interest free.
Posted on 7/10/23 at 6:08 am to BabyTac
quote:
I feel in the minority here. Why has it become the norm to take a loan out to buy something you can’t afford? Cars, trucks, tuition, appliances, home projects, recreation crap, etc. Spoiled people. You can either save for it or if it ain’t worth saving for, it ain’t worth it!
I don't on purchases less than 10k ever, but if I need a new AC unit, and a company is offering 12 months same as cash with zero down, I'd be an idiot not to finance.
Posted on 7/10/23 at 6:10 am to geauxbrown
quote:
it’s cheaper for me to use someone else’s money versus my own.
This is the correct answer
Posted on 7/10/23 at 6:35 am to BabyTac
quote:
BabyTac
You get worse and worse with every post.
Posted on 7/10/23 at 7:06 am to BabyTac
How do you expect people to save up money to get a car without credit, when most people need a car to get to work.
This post was edited on 7/10/23 at 7:07 am
Posted on 7/10/23 at 7:10 am to BabyTac
quote:
So live bare minimum.
You can live on bare minimum but I’m not, we’ll both eventually be dirt.
Posted on 7/10/23 at 7:17 am to BabyTac
quote:
If you need a loan or credit…you can’t afford it!
I feel in the minority here. Why has it become the norm to take a loan out to buy something you can’t afford? Cars, trucks, tuition, appliances, home projects, recreation crap, etc. Spoiled people. You can either save for it or if it ain’t worth saving for, it ain’t worth it!
so that other thread....about what screams poorly educated..... pretty sure this is the winner for me!!!
so many on this board on do not understand interest rates, inflation, compounding interest etc that will agree with you. just screams poorly educated.
i mean how hard is it to understand (this isnt current but was a short time ago)
if you have the following conditions:
inflation- 5%+
interest rate of loan-1.9%
compounding interest of investment- 6%
it makes financial sense to take out the longest loan that they offer at that interest rate? you take out 120 months if they will let you.
example, i financed my house at below 2.5% less than 2 years ago. i would be retarded to put down more than they required.
so many here would make fun of someone for doing the car example above.....just screams poorly educated.
some of you, included the tard OP, really need to start taking online classes on finance and need to stop worrying about your feelings.
This post was edited on 7/10/23 at 7:28 am
Posted on 7/10/23 at 7:46 am to BornKjun
quote:
Borrow at 6%
+
Invest cash at 10%
=
Wealthier than paying in cash
Paying in cash is basically giving up the opportunity to invest at a higher return. Paying in cash is effectively locking in a savings at a rate equal to the loan amount.
The ultimate question is: what are you doing with the cash that you are holding onto. If it’s enough to buy a house or a car, it’s enough to create more wealth via investments.
This logic is great, but it also assumes the buyer is discipline and savvy enough to execute the plan. 90%+ are financing non essential items on a paycheck to paycheck budget.
The OP's trollish post isn't far from accurate. People are financing toys and non-essentials to keep up with their friends (who are also likely financially illiterate). A friend I work with finally got tired of being and debt and is Ramsaying her way out of it. It's not for everyone but it works for people who aren't financially smart.
Posted on 7/10/23 at 7:48 am to WhiskeyThrottle
quote:
it works for people who aren't financially smart.
just because some people are dumb, doesnt mean debt is bad.
low iq people tend to do low iq things
Page 5 of 5
Popular
Back to top
Follow TigerDroppings for LSU Football News