You are gonna spend too much with a debit card or a credit card. The CC isn't the problem here
Yes and No.
Alot of ppl are saying "well most ppl..." And that's the point
Most ppl need to chill (like i plan om doig after going HAM since Oct)
Dave Ramsey agrees Renting vs. Owning Is Fine, Credit Cards Are Trash
- Thread starter Easy-E
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Yes and No.
Alot of ppl are saying "well most ppl..." And that's the point
Most ppl need to chill (like i plan om doig after going HAM since Oct)
Credit Card rewards have gotten me on amazing flights all while being debt free and paying my CC bills monthly
CashmereThoughts
Veteran
CashmereThoughts
Veteran
Not using a credit card probably would probably force me to spend less.
two mentalitys.
1. i have credit avail so i can go into debt
2. ill use my credit cards for things i would normally use my debit card for and pay the balance immediately.
If you keep your ballances at 10 percent of the limit you will most likely be in that 750 and above score range eventually and the perks you receive are great
southern.girl
Superstar
Dave continuously noted that home ownership is better than renting in the long run. He just doesn't agree with broke people buying houses that they can’t afford, thus the home being a burden & not a blessing.
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i'm very disciplined so i don't have any use for a dave ramsey. i'll stick to having a 800+ fico score and having a card that i use for buying gas and a card i use at restaurants and at grocery stores, etc. all for that cashback and points. and since i'm not delusional enough to think i'll never need a bank's money to fund a venture i'll keep my credit exceptional so i continue to pay 0% or low interest rates.
With CCs people will often overspend even if paying off the balances in the name of points etc.
I agree with using CCs wisely, but the numbers support that most people aren’t doing that.
I agree with using CCs wisely, but the numbers support that most people aren’t doing that.
southern.girl
Superstar
Got it.
Yep they are legal loan sharks. The fukked up part is unlike the mob the credit card debt is insured so even if you don't pay the credit card company gets the money back. Thats also why they bully families when a family member dies. They bully the family to pay off the credit card. Even though the debt is covered by insurance. Then by the time the family realizes that they can just send in a death certificate to get the debt cleared. The credit card company takes that death certificate and sends it to the insurance who covers the debt.
Also the dirty credit card companies sell the credit card debt to a collector for pennies on the dollar. So they always make a profit on the debt whether its paid or not. They are just like vegas....they always win.
2008 plenty of folks saw they burden turn into a shackle. Or worse a shackle turns into the banks property that in turn sells the home for pennies on the dollar.
Ask all them folks in 2008 with adjustable interest rates on their homes or reverse mortgages or pulling out equity on their home.
Dave is far from perfect. But there are a lot of folks (especially in other countries) who live by the only buy what you can afford and pay cash for things.
Also on youtube there was a video of an interview from the 50s. It was like a 90 year old black man. He was born into slavery and the interviewer asked him how did he have all the things he got over the years (house, car and etc). He said that to never pay with credit on anything. Only buy what you can afford in cash. If you pay credit it can be taken from you and the interest you pay goes to the bank and not your pocket (something along those lines).
IsThatBrothaMouzone?
Superstar
Renting vs. Owning doesn't matter much as long as you can afford whichever path you take.
If you rent, use the extra cash reserves to save and invest in the market (different types of mutual funds/etf etc). Also use the money to pay off any debt you may have. If you want to own, save up enough so that you don't wipe out your savings to buy a house. If you need a $50k down payment, save $80k or $100k so that you still have reserves.
Pay off all debt before buying a house is good strategy.
Owning a house is fine as long as you treat it as housing and not an investment. Real estate has higher-highs but has always been way more volatile. It should be a piece of your portfolio but never the biggest piece. People often look and say "I paid $200k for the house and sold it for $325k" but ignore the money they put into it, the taxes etc.
If you rent, use the extra cash reserves to save and invest in the market (different types of mutual funds/etf etc). Also use the money to pay off any debt you may have. If you want to own, save up enough so that you don't wipe out your savings to buy a house. If you need a $50k down payment, save $80k or $100k so that you still have reserves.
Pay off all debt before buying a house is good strategy.
Owning a house is fine as long as you treat it as housing and not an investment. Real estate has higher-highs but has always been way more volatile. It should be a piece of your portfolio but never the biggest piece. People often look and say "I paid $200k for the house and sold it for $325k" but ignore the money they put into it, the taxes etc.
What happened to people doing whats best for them?
The need to be justified in your decisions just proves immaturity..
The need to be justified in your decisions just proves immaturity..
Homes are investments long term..
But being no one stays put longer than 10 years took away its luster..