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you couldn't spend that on a house unless you were making at least $700k captain. cmon...how do we NJ folks afford these things? of course, we're all making a cool million per year.
we are all mega billionaire in nj.
i triple couponed this morning at path mark. i got 2 squeezable grape jellies for 50 cents a piece! that 36 cents a pound!! next time though i will be better prepared and show up with dozens of coupons.
if i am purchasing a TV this evening that costs $500, and a merchant is willing to let me purchase that TV on credit for 0% for 12 months, i have no financially sensible reason to pass that up. maybe i'm too lazy to make the monthly payment, or fill out the paperwork to get the credit. but that doesn't make it financially more intelligent, just makes it lazy.
It does if something happens unexpectedly in your life that keeps you from making the payments. We never know what is down the road. We assume that everything will be fine and we will continue to make more money. It's not always the case.
They claim that they actually have the money, but are taking out loans to buy their candy bars because apparently taking out debt to buy candy bars benefits you financially so long as the interest rate is no more than 3~4%.
It does if something happens unexpectedly in your life that keeps you from making the payments. We never know what is down the road. We assume that everything will be fine and we will continue to make more money. It's not always the case.
you're assuming i don't have the money to pay for the TV out of pocket, and that i'm hoping i will be able to make the payments. i have the money. if something happens, i'd pay off the debt first. the money is spent, it's not for me to use elsewhere. that's the whole point.
Actually you do have financially sensible reasons to pass it up, you just don't think they apply to you. But you are phrasing this oddly, taking out the loan takes extra effort not the other way around, so why would taking out the debt be the default position? It shouldn't... So the question is, as I've been asking, how does taking about debt to purchase a consumer good improve my financial picture?
Its funny that you guys keep talking about being too lazy, yes, one is lazy if they don't apply for every loan someone waves in their face.
A loan for a measly $500?
but you're ok with your credit card that you had to apply for. it's the same thing. a best buy credit card or your american express credit card. same thing. no different. you use your grace period, i use mine. the debt improves my financial picture because i hold onto cash to earn interest instead of parting with it. sure, it's only a small amount. to you, it's not worth it. i never said that not taking out the loan takes extra effort. i know applying for credit takes a few minutes. apparently, you read and write much slower than we do.
just bought furniture for my master bedroom 8 weeks ago. bought it from a place out of state that is delivering it free, and didn't pay sales tax because they are out of state. they had 6 months, 0%. didn't even know they did until we were about to pay him. took my wife less than 5 minutes to write her name, address, and SS#, plus household income. it's through wells fargo. standard agreement. 0% for 6 months, then goes to a ridiculous rate of 19.99%. no "accrued interest". i'll make the payments for 5 months, then in month 6, slap the total due onto it. done and done. money earns interest in the meantime.
They claim that they actually have the money, but are taking out loans to buy their candy bars because apparently taking out debt to buy candy bars benefits you financially so long as the interest rate is no more than 3~4%.
you take debt to buy your candy bars too. you just follow a term of no longer than 30 days. don't try to pretend like you're not using debt too, just because your mental capacity can only handle 30 days of foresight at a time.
yeah, im trying to figure out where you got this concept of guaranteed 3-4% dividend from owning a house without debt. care to help me out?
naturally, the house goes to the bank and picks up some money for you. then gives you your dividend. your house never did that for you? i thank my house all the time. but i don't like the bank he uses very much. the only give me small bills, in old iraqi currency.
but you're ok with your credit card that you had to apply for. it's the same thing. a best buy credit card or your american express credit card. same thing. no different.
Yes, I'm okay with the credit card, primarily because I like the benefits that a credit card provides. But in terms of time spent, I only need to apply once and can keep the card for many years and never have to apply again.
Quote:
Originally Posted by bradykp
they had 6 months, 0%. didn't even know they did until we were about to pay him. took my wife less than 5 minutes to write her name, address, and SS#, plus household income. it's through wells fargo.
Pay who? The deliver guy? Since when would you pay the delivery guy?
Its funny the way you guys think about risk/reward, you are doing things that have huge potential downsides (the prole taking your application does something bad with the information) to make very small gains. It really doesn't make much sense and its difficult to see how someone with money would do this sort of thing.
Also, I should remind that you claimed just a bit ago that you have no debt for your candy bars, yet now you have a loan for a big fat chocolate bar.
Quote:
Originally Posted by bradykp
you take debt to buy your candy bars too. you just follow a term of no longer than 30 days. don't try to pretend like you're not using debt too, just because your mental capacity can only handle 30 days of foresight at a time.
I handle everything on a net-30 basis, I find it easier to deal with everything on a monthly basis rather than pay here and there throughout the month for things like groceries. Technically this is debt, but it operates just like cash. A 6-month, 12-month, etc loan would not, it would distort your cash-flow.
And yes, my mental capacity is very limited, I'm not a super-human like yourself.
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Not so.
