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RE: how are your finances? - 5/27/2009 8:52:41 PM

janiebelle

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Joined: 4/29/2009
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FR

For those of us stateside, not great.
We're what, $12 trillion more in the hole than a few short months ago?
We should be ashamed of saddling the next generation of Americans with such an obomination.
j

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RE: how are your finances? - 5/27/2009 9:23:41 PM

ThatDamnedPanda

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quote:

ORIGINAL: PyrotheClown

I could never figure out the appeal of credit cards

it's paying money for less money

I hear you, but they do have value if used properly. I've got 2 credit cards, but I never carry a balance on either one. For all practical purposes, I live on a cash-only basis - I don't buy anything on credit that I don't have the cash for in one of my bank accounts. I use each of my cards to make a few small purchases each month (for clothes or eating out, never at grocery stores, because believe it or not that does affect your credit score), and pay them in full before the due date. Just to make it easier to keep the balances down, I also carry a debit card in case I'm ever caught without cash and need a card for something. Any unexpected expense up to and including a blown engine comes straight out of the savings or checking account, without having to spike my credit card balances. The point is that by using only a small percentage of my available credit (usually less than 5% at any given time, sometimes as little as 1%), and paying as agreed each month, I'm demonstrating that I'm a wise, responsible user of credit. This boosts my credit score, so that if I ever do want to buy something that I really can't get without using credit (like investing in real estate, for example), I'll qualify for loans more easily, and get better interest rates.

It's all a game, finance is, and if you play it properly credit cards can be a valuable tool. It's just a question of how you manage them.

< Message edited by ThatDamnedPanda -- 5/27/2009 9:48:01 PM >

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RE: how are your finances? - 5/27/2009 9:33:43 PM

Cuffkinks

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I can't really complain.
My job is stable. (At least, it appears to be as stable as any can be in this age.) I have three credit cards, each one has about a 200 dollar balance on it. I pay about twice the minimum due each month to keep the accounts active. My only real debt would be my truck payment and my mortgage. I actually manage to put a few bucks away each month.
So...my finances are in pretty good shape. Life is good.

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RE: how are your finances? - 5/27/2009 10:09:20 PM

popeye1250

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quote:

ORIGINAL: janiebelle

FR

For those of us stateside, not great.
We're what, $12 trillion more in the hole than a few short months ago?
We should be ashamed of saddling the next generation of Americans with such an obomination.
j

How are they supposed to pay it off if the govt keeps spending more than it takes in? You don't pay off $12T you declare bankruptcy.

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RE: how are your finances? - 5/27/2009 10:48:30 PM

YoursMistress

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Sigh. It turns out that divorce is not a good way to make alot of money.

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RE: how are your finances? - 5/28/2009 7:29:12 AM

DemandingLeader

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quote:

ORIGINAL: PyrotheClown

yeah, but I live cheaply ;)

in any case, I'm free and clear, and I don't have any one else who I am financially responsible for.

Life is good

Enjoy it now. In 15 years, that wont be the case. You'll be responsible then, about the same time you become too expensive to your employer, because your employer will be looking at the wage standard of some African country to control his costs.

LOL, oh my, how I see me, in you, at that age.

Hehehe.

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RE: how are your finances? - 5/28/2009 11:40:44 AM

purepleasure

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I have enough to pay the bills and enjoy a few SMALL luxuries (dinner out, or something fun) a month, but like many others, I have very little credit debt. If I can't pay cash, more than likely, it's not needed.

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RE: how are your finances? - 5/28/2009 5:03:03 PM

YourhandMyAss

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It's a good philosphy but it wouldn't work for me. When my dog needed 500 dollars in medical tests to find out he was dying, I didn't have the money in my bank and I knew something was wrong but not what, I whipped that card out and payed for his needs. Same thing with getting an Ac in here, An AC unit is going to be 2 to 400 dollars, and if I had to have it right now I'd finace it too. It's a nice concept no cash no buy it, but with weather approaching up to 110 degrees, and no ac in a garage studio apartment that's not insulated and gets hot enough to roast in here litterally, and a fan don't even cut it, I aint waiting till I have the cash for an AC, I already spent one summer last year soaked through to the bone misreable in the heat and will not do it again this summer.

Now I won't go out and get the 5 thosand dollar mr slim ductless I wanted but I will get a window unit.

quote:

ORIGINAL: Aneirin

The biggest thing I ever did though that has had such a positive effect, is to ditch credit, deal only with what I have, if I don't have the cash, I can't have the product simple as that.

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RE: how are your finances? - 5/28/2009 5:41:42 PM

CountrySong

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ORIGINAL: janiebelle
For those of us stateside, not great.
We're what, $12 trillion more in the hole than a few short months ago?
We should be ashamed of saddling the next generation of Americans with such an obomination.
j
janiebelle - They have it figured out the fed has stated that it plans to creat inflation at the rate of 4% per year over 5 years (longer if needed). If they just do that for 10 years and only sell long term bonds then they will be paying for the debt with money that is worth half of what they borrowed it for! What a deal!
Do it for 20 years and we might just get to debt freedom - yeah right. Just remember to carry Political Lube so it won't hurt as much when they screw you!

< Message edited by CountrySong -- 5/28/2009 5:49:57 PM >

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RE: how are your finances? - 5/28/2009 6:24:06 PM

greenearth21

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quote:

ORIGINAL: janiebelle

FR

For those of us stateside, not great.
We're what, $12 trillion more in the hole than a few short months ago?
We should be ashamed of saddling the next generation of Americans with such an obomination.
j

Just the thought of 12 Trillion is outrageous but I always ask....what else can be done or could'VE been done? Sir and I have discussed this a lot and we are on two different sides on the issue. He is a mid 40's rep and I'm hitting mid 20's Lib with several other differences regarding such topics. But I always ask people "what do you recoment should have been done" but no one ever has a logical answer that would actually work. first of all, the govt has no skills on "saving money"...I wish I could spend as much as they did...or even had the audacity to do so.
I share your feeling that its a shame future generations (actually I think it starts with my generation and my son's onward) will have to pay for it, but the way I see it...it was a long time coming. It was going to happen..maybe not the exact amount but ...the deficit we were carrying before the war, the war, now and whatever hades feels like spitting out in the future)...someone's gotta pay it. Its just the way it is

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RE: how are your finances? - 5/28/2009 6:24:36 PM

SmokingGun82

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For now, my finances look pretty good. I'm changing jobs (partially because the contract is up, partially because working for a company I'm pretty sure is run by particularly stupid monkeys was making me hate life), so there will be a small quality of life drop until the next gig kicks in... but that looks to be two weeks or so away, at most. As long as I'm working again by mid-July I shouldn't have to dig into the savings.

All in all, I'm in a much better position than last year, and doing better than most/all of my friends... so no complaints.

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RE: how are your finances? - 5/28/2009 6:26:21 PM

NormalOutside

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Pretty hurtin'. Many of my customers are from the US and have dropped off the face of the Earth since October. Credit card companies are upping the fees and rates, and downing the leniency. Options closing off.

Also trying to get as much physical silver as possible.

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RE: how are your finances? - 5/28/2009 6:40:53 PM

playfulotter

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Well, my credit card company, Bank of America, which i have had my one and only credit card with since I was in my early 20s, just cut my credit limit from over $20,000 to $11,000 for no reason other than I never used more than a certain amount each month for a few decades and I always paid if off each month.....grrrrrrrrrrrr...It is not a big deal but I liked having that limit as more of an ego thing I guess..so it really doesn't matter...but still tells me things are changing....

< Message edited by playfulotter -- 5/28/2009 6:42:16 PM >

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RE: how are your finances? - 5/28/2009 6:43:01 PM

coupleowl

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I had money the day after I got paid...And then my bills hit. Well at least with electronic funds transfer I don't actually see it slipping away.

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RE: how are your finances? - 5/28/2009 7:32:12 PM

LookieNoNookie

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quote:

ORIGINAL: pahunkboy

MAN! Where does my budget go. I rob peter to pay paul, and rob may to pay peter. I have a handful of checks en route. But it feels like forever right now.

I cut back alot on spending. Tho- I still try to grab some silver.

So- how IS the budget coming along?

I have a new plan:

Once I can get everyone to stop sending me bills....my finances will be better than ever.

(I'll report back on how that's coming in the next few weeks).

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RE: how are your finances? - 5/29/2009 6:21:05 AM

ShellyD

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I am the least wealthy of my 6 siblings, they all have invested and made much more money than I will ever see, my money has gone to my grandchildren who all live in financial poverty, invest in family is my/our motto. As such, I am the least affected, I am a nurse and my work is in a hospital, there will always be a demand for that and my position is secure. I sleep easily compared to family members losing assets and investments and job insecurity....You can't lose what you don't have. My bills are all paid before the due date and I don't have a credit card, I am in the pay cash or don't buy brigade. I have in the past envied the overseas holidays, plasma tv's and such, but I am content with what I have, my home is always welcoming to guests and I am a generous host still. Not much has changed for me, but I do feel for those in dire straits at present.

< Message edited by ShellyD -- 5/29/2009 6:24:52 AM >

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