Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
I don't think that most of us will ever "blow it up" unless there's an unexpected windfall. Maybe a better description is "occasional splurge" where we can take a special trip or buy a necessary but slightly more luxurious vehicle.
Blow it up? I think the folks who have provided kind input aren't wired like that. For good reason too - most of us got to this point by being conservative for the past 40-50 years.
Exactly. I just got a new iPhone. I had a 5c which was still in good shape and working but was not supported anymore and, with apps switching over to 64 bit only, made my 5c obsolete as it was 32 bit.
So I "splurged" and got an iPhone XR in bright coral rather then an older model. (also helped that the xr went on sale and verizon gave me a "valued customer" discount )
I think you realize those "free" reward points were not free.
They actually are; I get gift cards for using my credit card, but I don't use it for anything I wouldn't otherwise buy and never carry debt (I pay off the balance every month).
Last edited by otterhere; 02-21-2020 at 11:13 AM..
They actually are; I get gift cards for using my credit card, but I don't use it for anything I wouldn't otherwise buy and never carry credit (pay it off every month).
Same here. I never carry a balance.
The ironic thing is that I redeem the reward points that I get from buying things on Amazon (with a regular Visa card that is dedicated to buying things online and nothing else) for an Amazon gift card that I use to buy things on Amazon that I would not have bought if it were to be charged to that credit card. I call it The Circle of Buy (with apologies to The Lion King!)
The last such thing was a pair of ARS KR1000 hedge shears for $120 via my gift cards. Did I need them? Technically, no, because I already have a pair of Barnel B1000 shears that are virtually identical and cost me about $45 when I bought them. But the steel in ARS blades is just that little bit better quality, and their shears operate just that little bit more smoothly, and cut just that bit easier, and weigh just that bit less, than the Barnel.... so, I wanted them anyway and got them for free with the rewards points gift card.
I think you realize those "free" reward points were not free.
They are. Other people have to pay for them. I prepaid my insurance, my cell phone, internet, water, gas, etc... all the stuff I have to pay anyway. I never paid taxes with it, nothing that will charge me extra for anything. I pay off all my credit balances every month.
But yesterday, assume I pay $21k per first class ticket, 2 tickets are $42k, 21 days in Japan with decent hotels, comes up to about $5k. All total about $47k tax free. What’s not to like. In fact, they are all cancellable, no trip insurance necessary, save some money there too. Some of the places I booked were sold out on travel website like booking.com.
I think you realize those "free" reward points were not free.
well we all pay the prices we do at stores because the vendors pay for their use of credit cards by including all expenses in the prices . but those smart enough to not pay cash and use cards with points actually are getting a rebate so that trip is taken with the REBATE she got back
I am retired, married and 66 wife 65. We have more than substantial savings, a great pension, holding off for 70 on SS and no debt. Four kids all college grads with no student loan debt thanks to dear old Dad. All this yet I have a “ yellow light” when it comes to spending. I think I inherited my parents depression mentality or I am basically cheap. At what savings amount do you blow the dust off the wallet and spend?
You're so lucky. I hope both of you appreciate what you have.
I wouldn't spend like a drunken sailor until I got closer to kicking the bucket. But I would spend for certain things that matter to you both a lot. Money should be enjoyed. But things can happen in the future. A stroke could mean one or both of you end up in full care facility for years. Are you covered by ins. for that?
What some call cheap, I and others may call frugal. There's nothing wrong with being frugal. That just means you know the value of the dollar you earned & have the good sense not to overspend.
Stingy or cheap means you go without essential things in order not to spend, or things that you want a lot, but you forego in order to save a dollar. Like eating fresh fish, which is good for you, because it's too pricey, although well w/in your food budget.
They are. Other people have to pay for them. I prepaid my insurance, my cell phone, internet, water, gas, etc... all the stuff I have to pay anyway. I never paid taxes with it, nothing that will charge me extra for anything. I pay off all my credit balances every month.
But yesterday, assume I pay $21k per first class ticket, 2 tickets are $42k, 21 days in Japan with decent hotels, comes up to about $5k. All total about $47k tax free. What’s not to like. In fact, they are all cancellable, no trip insurance necessary, save some money there too. Some of the places I booked were sold out on travel website like booking.com.
Reward points are considered rebates of money spent so they have not been taxable .however if you get things for opening accounts that is taxable and considered in lieu of interest or part of interest
You're so lucky. I hope both of you appreciate what you have.
I wouldn't spend like a drunken sailor until I got closer to kicking the bucket. But I would spend for certain things that matter to you both a lot. Money should be enjoyed. But things can happen in the future. A stroke could mean one or both of you end up in full care facility for years. Are you covered by ins. for that?
What some call cheap, I and others may call frugal. There's nothing wrong with being frugal. That just means you know the value of the dollar you earned & have the good sense not to overspend.
Stingy or cheap means you go without essential things in order not to spend, or things that you want a lot, but you forego in order to save a dollar. Like eating fresh fish, which is good for you, because it's too pricey, although well w/in your food budget.
I consider it cheap when frugalness crosses the line and effects those around you in a negative way. I can see someone eating peanut butter instead of costlier fish ... but like a co worker I have , he won’t buy an air conditioner and makes his wife suffer
You're so lucky. I hope both of you appreciate what you have.
I wouldn't spend like a drunken sailor until I got closer to kicking the bucket. But I would spend for certain things that matter to you both a lot. Money should be enjoyed. But things can happen in the future. A stroke could mean one or both of you end up in full care facility for years. Are you covered by ins. for that?
What some call cheap, I and others may call frugal. There's nothing wrong with being frugal. That just means you know the value of the dollar you earned & have the good sense not to overspend.
Stingy or cheap means you go without essential things in order not to spend, or things that you want a lot, but you forego in order to save a dollar. Like eating fresh fish, which is good for you, because it's too pricey, although well w/in your food budget.
Aha, the full care facility - one thing for which I do not WANT to save. Even though I am in the frugalist camp on this thread, I am frugal with money in order to be sure I can enjoy things that might come up (in addition, I kind of enjoy frugality itself; there are worse habits and addictions people may have :-). I am sure I would not enjoy any full care facility anywhere, so I don't particularly want to give it much money. If a severe neurologic disability should happen to me while I still have plenty of money, my extended family is precisely instructed re shipping me to a certain facility abroad (which I have identified as cheap and as pleasant as such a facility can be), but if it happens when I am 100, I woudn't care if I end up in a Medicaid nursing home (although I will probably always have a retirement income above Medicaid cutoff... if my inflation/soc security calculation holds, I should still be probably above the Medicaid cutoff at the age of 120). But anyway, full care facility is not something that I have saved towards, I preferred to save towards independence.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
)
I call it The Circle of Buy (with apologies to The Lion King!)
