Inflation! $$

LOL. Not that well off to be totally debt free. I don't know many people that can afford to pay cash for a house or car. CC debt is the worse!
 
A wise man once told me it's not how much you make, but how much you save.

Over the years this has proven to be true. I've had many of customers living in million dollar houses go belly up when a hickup occurs. Meanwhile I am living good (and grateful) in the ghetto
 
Flash Gordon said:
A wise man once told me it's not how much you make, but how much you save.

Over the years this has proven to be true. I've had many of customers living in million dollar houses go belly up when a hickup occurs. Meanwhile I am living good (and grateful) in the ghetto
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Very true. Living paycheck to paycheck is dangerous. And quite a few people do it. I strongly believe in a nest egg and or savings.

Flip side is you never see a Brinks truck following a Hearst. So, enjoy some of while you can. We are here a very short time...
 
Flash Gordon said:
A wise man once told me it's not how much you make, but how much you save.
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The same man told me.....the day you start saving for retirement is the day you start your first job.....


I'm glad I listened.......
 
PaulMys said:
It doesn't help that every product manufacturer learned during the pandemic that "shortages" mean profits.

And they're still playing that card......
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Pathetic companies and their employees now ROUTINELY use this as an excuse for poor service and not stocking shelves
 
PA DETAILER said:
Put me in the debt free club. A few years now. Just handling the normal debt. Truck and mortgage. Zero CC debt. I pay off the balances full every month. Only have 2 CC. Sadly, during the pandemic, I have heard many maxed out their CC. And are currently playing catch up paying the balances off.
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HOW ARE YOU DEBT FREE IF YOU HAVE A CAR PAYMENT exactly? lol lol. "Normal debt"
 
PA DETAILER said:
LOL. Not that well off to be totally debt free. I don't know many people that can afford to pay cash for a house or car. CC debt is the worse!
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No, you mean you dont know many people who can pay cash for a NEW car. You dont NEED a new car. I paid cash for all 3 of my current cars. No ones gonna be impresses by them but IM free of payments and dont really care! My daughter also paid cash for her first car 3 years ago lol so you cant say people cant pay cash for a car...they cant pay cash for the one they WANT and that is exactly how you get drowning in debt. $500 a month to a car payment for your working life (25-65) at 12% (check the S&P for the last 60 years, its been just over 11%) is $5 MILLION!!! Even if Im half wrong thats $2.5MILLION!!!! HOPE YOU LIKE YOUR CARS cause they are costing you MILLIONS.
 
PA DETAILER said:
As stated above, not totally debt free. OFF TOPIC, but here is a commonsense guide line.


View attachment 76070
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HA HA HA HA!!! All debt makes you a slave. Im not some bible nut but look through there, its not a sin but no where in the bible do they talk about debt in a good light. Its always stupid or folly. Always negative.

LOOK AROUND at the student loan CRISIS we are having right now and tell me student loans are doing good things for people!!!!!
 
That chart was drawn up by a fukin crackhead...WHOA!
No disrespect to the choice people make and their ways of plotting through life.

On the other end of the spectrum, one can reach the golden age without ever experiencing many things in life that are not available "without" credit..

one could say I am such that person....I often ponder the "what if's" or the I "Should have's".

I have since childhood took the tortoise and the hare approach....slow and steady wins the race.....
 
Big Dave said:
Thanks for the visual, gave me a real laugh. Can just see all these over exposed butts appearing as the water recedes.

I've been debt free since 2018, so I know exactly what you mean.

Sent from my motorola edge 20 fusion using Tapatalk
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When I first heard that I was DEEP in debt. $56k on JUNK. In 2011 I got out of that debt (2 years) and have been free besides my mortgage since then. Life has never been better, I make less than $70k a year and save $625 a month for retirement, help daughter pay her way through college debt free, have a $20k emergency fund and money saved for car and home repairs / replacement. Debt just holds you down. I think we are on the same page. There is no good or bad debt. Debt is DUMB and it SUCKS!!! FREEDOM is the way to go. EDIT: My house is down under $40k and worth over $140k lol. Until its paid off I will still be a slave to the lender.
 
DUBL0WS6 said:
I have read that since the federal reserve was instituted in 1913 inflation is currently at 2000%. Not sure how that figure was calculated. But here's a couple examples. If the fed target inflation rate is 2% that means that every 25 years the dollar has lost 50% of it's purchase power. Just in the last 3 years, I know of items that have gone up 50-100%. Oh and the price of items are increasing while the size decreases. Fiat money only has value because people believe the government can back it up. Once faith in the government is lost, wait for the crap to hit the fan.
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If you are right then why havent you moved yet? lol. Why wait till it collapses?
 
Bosko said:
On the other end of the spectrum, one can reach the golden age without ever experiencing many things in life that are not available "without" credit..
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Ive been on both sides and feel like I can have more things now being debt free and not using credit. What kinds of things cant you have without credit? Also when you have things without a payment you dont feel like they have YOU cause you owe your payment every month.
 
I do wonder sometimes if being frugal all the time is a wise move. One day someone will inherit what I have and probably squander it.
Yall don't be shocked if I show up one day in a GT3 (on credit lol)
 
dcjredline said:
What kinds of things cant you have without credit?
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Business adventures mainly for me (large capital investments)....although my business of 36 years did well and I retired very early debt free......
 
Flash Gordon said:
I do wonder sometimes if being frugal all the time is a wise move. One day someone will inherit what I have and probably squander it.
Yall don't be shocked if I show up one day in a GT3 (on credit lol)
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Being debt free doesnt have to mean frugal. I buy much more than I used to while in debt cause I now have access to my whole paycheck. Plus save on top of that. I dont feel deprived at all. I buy something that was budgeted and have 0 guilt about it the next month cause there is no bill coming in on it.
 
Bosko said:
Business adventures mainly for me (large capital investments)....although my business of 36 years did well and I retired very early debt free......
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You can still start a business debt free and grow it organically. Its not a need.
 
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