Forums
New posts
Search forums
What's new
New posts
New media
New media comments
Latest activity
Classifieds
Media
New media
New comments
Search media
Log in
Register
What's New?
Search
Search
Search titles only
By:
New posts
Search forums
Menu
Log in
Register
Navigation
Install the app
Install
More Options
Advertise with us
Contact Us
Close Menu
JavaScript is disabled. For a better experience, please enable JavaScript in your browser before proceeding.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an
alternative browser
.
Forums
The Water Cooler
General Discussion
Car buying and financial responsibility
Search titles only
By:
Reply to Thread
This site may earn a commission from merchant affiliate links, including eBay, Amazon, and others.
Message
<blockquote data-quote="Shoot Summ" data-source="post: 2874081" data-attributes="member: 1055"><p>Dave has interesting advice, it certainly works for many, but it's also a bit extreme in some cases.</p><p></p><p>Credit cards aren't bad, the way people tend to use them is, carrying a balance is ridiculous. Even if I decide to carry a balance for a larger purchase, my mail box has a 0% interest offer in it every day, so I will transfer to 0% instead of leaving it on a higher interest card. This makes much more sense than pulling it out of good investments that are earning 2-3x the balance transfer fee.</p><p></p><p>As I stated earlier, I'm not of fan of the smallest to largest payoff either, I put it all in a spreadsheet, then determine the financial impact of the payoff, cost of money(interest rate) is a bigger factor when I am helping folks get on track.</p><p></p><p>And being a "millionaire" for retirement these days, is likely to leave you short, so you need to target being a "multi-millionaire", and NEVER stop contributing the portion of a 401K that is matched by your employer, that's just throwing money away.</p></blockquote><p></p>
[QUOTE="Shoot Summ, post: 2874081, member: 1055"] Dave has interesting advice, it certainly works for many, but it's also a bit extreme in some cases. Credit cards aren't bad, the way people tend to use them is, carrying a balance is ridiculous. Even if I decide to carry a balance for a larger purchase, my mail box has a 0% interest offer in it every day, so I will transfer to 0% instead of leaving it on a higher interest card. This makes much more sense than pulling it out of good investments that are earning 2-3x the balance transfer fee. As I stated earlier, I'm not of fan of the smallest to largest payoff either, I put it all in a spreadsheet, then determine the financial impact of the payoff, cost of money(interest rate) is a bigger factor when I am helping folks get on track. And being a "millionaire" for retirement these days, is likely to leave you short, so you need to target being a "multi-millionaire", and NEVER stop contributing the portion of a 401K that is matched by your employer, that's just throwing money away. [/QUOTE]
Insert Quotes…
Verification
Post Reply
Forums
The Water Cooler
General Discussion
Car buying and financial responsibility
Search titles only
By:
Top
Bottom