Banks just suck.

[Shadow01]

Buy ammo with your savings. It will be good to barter with after Kameltoe wins the election.

 

[Bleachey]

It's a thing you put money in every payday.
And once in awhile you move it to a better interest rate.
Im not a money person but I was taught this long ago.
Always pay yourself FIRST.

It's a skill many aren't taught and NEVER learn.

Your taught to be a good little consumers, get in debt and spend it all!

Own nothing, you'll be happy!

The disappointment of it all will be that, though we were wise and saved and did the research and delayed gratification, when the government eventually collapses our currency, we'll have just as much as those who didn't do any of those - nothing.

Ohhhhhh, you're talking about the money I have left over after paying bills that's used to buy stuff like pew pews and things that come out of pew pews for when it all collapses I can take care of myself. A piece of paper with numbers on it won't do much good when all goes to hell.......

 

[miguel]

Credit Unions uber alles.

 

[MindfulMan]

Own nothing, you'll be happy!

• "A man is rich in proportion to the number of things which he can afford to let alone." - Henry David Thoreau, 2. Where I Lived and What I Lived For, Walden

 

[patience0830]

I’ve been doing CD ladders, better return in most cases. It just takes a bit of discipline to get it started and keep them rolling over.

These funds are emergency and regular sinking fund stuff. Investing $ go into the markets.

 

[patience0830]

The disappointment of it all will be that, though we were wise and saved and did the research and delayed gratification, when the government eventually collapses our currency, we'll have just as much as those who didn't do any of those - nothing.

Just living is a speculative gamble. Aim for the gains. Gubmint collapses, eat the gubmint.

 

[Creedmoor]

It's a skill many aren't taught and NEVER learn.

Your taught to be a good little consumers, get in debt and spend it all!

Own nothing, you'll be happy!

I light up when some of the have nothings say, Man it must be nice.
My response starts with wtf did you just say?

 

[firecadet613]

• "A man is rich in proportion to the number of things which he can afford to let alone." - Henry David Thoreau, 2. Where I Lived and What I Lived For, Walden

I was referring to the WEF, but yes. I'm not even 40 and have been on a decluttering/less is more binge for a while now...

 

[Creedmoor]

These funds are emergency and regular sinking fund stuff. Investing $ go into the markets.

I keep that money in a 1 year money market at I believe 5'1% with Navy Federal CC, if I need to transfer a few hundred or a few thousand you just loose the interest off what money you transfered out. It seems to be a better deal for me than a saving account at what .2% or whatever it is paying now,
To get money is just a quick phone call and in two minutes its done.

 

[Creedmoor]

Ohhhhhh, you're talking about the money I have left over after paying bills that's used to buy stuff like pew pews and things that come out of pew pews for when it all collapses I can take care of myself. A piece of paper with numbers on it won't do much good when all goes to hell.......

Good Luck.

 

[natdscott]

Own nothing, you'll be happy!

Purple?

Sometimes, and for some people, zero debt makes sense. But loans, leases, etc. are often the only way to start one's own business, leverage greater profits,...

...buy something you need, but don't have all the cash for right now.

Ramsey sounds like you, or you like him,...and Dave knows a great deal, but he is giving advice that is--again--only good for SOME people.

 

[natdscott]

Buy ammo with your savings. It will be good to barter with after Kameltoe wins the election.

Indeed. This banker says: money, at least the American kind, is not a real, usable resource in the event of..

Well. In the event of ANY thing or things that causes your neighbors not to believe in that piece of paper anymore.

As with many things in life, resource management is best done with an eye towards BALANCE.

 

[firecadet613]

Purple?

Sometimes, and for some people, zero debt makes sense. But loans, leases, etc. are often the only way to start one's own business, leverage greater profits,...

...buy something you need, but don't have all the cash for right now.

Ramsey sounds like you, or you like him,...and Dave knows a great deal, but he is giving advice that is--again--only good for SOME people.

Good grief folks, yes, purple.

I was referencing the WEF with that statement, but yes I've used plenty of debt in my life... houses, cars, expensive boats, all bought with debt...

And if loans rates ever drop down to 1.99 again, I'd have no issues financing a truck again vs paying cash...

 

[natdscott]

Well, you can get some factory new "deals" down near that APR...

...as long as you don't mind paying all the interest up front, in the disguised/invisible form of the -18% equity decision you make by signing the delivery slip.

(whispers: The APR of factory financing is built into the new paint.)

 

[firecadet613]

Well, you can get some factory new "deals" down near that APR...

...as long as you don't mind paying all the interest up front, in the disguised/invisible form of the -18% equity decision you make by signing the delivery slip.

(whispers: The APR of factory financing is built into the new paint.)

It's all in how you buy them and the deal you can get. Funny, it sounded like you knew how to make debt work for you!

Life's short and you can't take it with you. Buy that new vette. Buy that 150k boat...

 

[amboy49]

I am old enough to remember when Carter was president - the prime rate was 21%, residential mortgages were 16%, and CD's were paying 16%.

My dad had money in CD's at a 5% rate. I helped him use the CD's as collateral for a loan ( so as not to be subject to the early withdrawal penalty ) with a 2% spread on the loan over the CD rate - and then walked the loan proceeds (cash) over to another bank to invest in 16% CD's. When the lower rate CD's matured we paid off the loan.

Now that I can loan money TO banks their rates are minimally, if at all, above the current rate of inflation (depending on which government agency lie you choose to believe).

I feel most sorry for folks who are stuck in the credit card cycle with interest rates in the mid teens. Banks apparently know that Americans now have a huge appetite for credit card debt, whether by choice or necessity.

I don't quite have my "end times" foil hat on yet but to quote Patrick Swayzee's character in Next of Kin - "You ain't seen bad, but bad's come'in ".

OTOH for me at least, I just heard those of us receiving Social Security will be receiving a 2.5% increase for 2025.