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Yellow | 50 Million People Are Not Paying Their Creditors

Triplex said:
I use cash back cards almost exclusively and of course pay the balance every month. I keep track of which cards and categories pay 5% back in any particular quarter. Be surprised how quickly that adds up to to real money.
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I knew we were on the "Same page", Tri. You just confirmed it. That 5% card is restaurants this quarter, correct?
 
Another word of advice, If you have lots of money never pay cash for a new car. Let them get you all the discounts, incentives and financing bonuses. Don't worry about the interest rates get the most off the bottom dollar you can. When the payment book comes in stroke a check for the balance.
 
Jeff said:
Another word of advice, If you have lots of money never pay cash for a new car. Let them get you all the discounts, incentives and financing bonuses. Don't worry about the interest rates get the most off the bottom dollar you can. When the payment book comes in stroke a check for the balance.
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That's good advice for the guys, Jeff. Only thing I could add is "shop hard for a solid late model" instead of new. Let somebody else eat that depreciation.
 
Jeff said:
Another word of advice, If you have lots of money never pay cash for a new car. Let them get you all the discounts, incentives and financing bonuses. Don't worry about the interest rates get the most off the bottom dollar you can. When the payment book comes in stroke a check for the balance.
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When you sign finance papers one should ask about payoff penalties.. Some finance companies add those fees if you pay loan off early..
 
Real Teamster said:
I knew we were on the "Same page", Tri. You just confirmed it. That 5% card is restaurants this quarter, correct?
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January through March 2024 cash back:
Chase 5% - Grocery, gym
Citicard 5% - Amazon, streaming
Discover 5% - Restaurants, drugstores
Sears/ShopYourWay - Constant 5% gas, 3% Grocery
 
Real Teamster said:
That's good advice for the guys, Jeff. Only thing I could add is "shop hard for a solid late model" instead of new. Let somebody else eat that depreciation.
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Never bought a new car or truck in my life. From my first car, a 1949 Ford purchased in 1959 to a 2015 Ford Fusion purchased in 2022, all were used or as dealers like to say, pre-owned. Only new vehicles I ever bought were a CB750 Honda motorcycle in 1970 and a XS11 Yamaha motorcycle in 1978.
 
Triplex said:
Never bought a new car or truck in my life. From my first car, a 1949 Ford purchased in 1959 to a 2015 Ford Fusion purchased in 2022, all were used or as dealers like to say, pre-owned. Only new vehicles I ever bought were a CB750 Honda motorcycle in 1970 and a XS11 Yamaha motorcycle in 1978.
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In my younger dumbazz days, I bought a new vehicle every 2 or 3 years.
I never financed it for longer than 12 months.
I would never buy a new vehicle.
You had me thinking you were smart and you buy and ride motorcycles? :lmao: :lmao:
 
seabreeze said:
In my younger dumbazz days, I bought a new vehicle every 2 or 3 years.
I never financed it for longer than 12 months.
I would never buy a new vehicle.
You had me thinking you were smart and you buy and ride motorcycles? :lmao: :lmao:
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I think I already told you that I went for a motorcycle ride last May and I ended up with four fractured ribs that evening. But remember that wasn't from the bike ride, I slipped and fell in the shower after I got back from the uneventful yet exhilarating ride. The takeaway is that I'm giving up showers, they're way more dangerous than motorcycles. :hilarious:
 
Jeff said:
well if you get 2% cash back thats 2 bucks for every 100 bucks you charge. Screw that I will just pay cash and let em keep their 2 bucks
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Especially since their research indicates that you'll spend $120 on a card before you'll spend $100 in cash. Somehow the tangible paper hurts more than a few keystrokes on a e-bill.
 
Real Teamster said:
That's good advice for the guys, Jeff. Only thing I could add is "shop hard for a solid late model" instead of new. Let somebody else eat that depreciation.
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Yes and no.

Somebody that only keeps a new vehicle for a year or two likely didn't treat it like they were keeping it for 20+ years ;)
If they did treat it well, why did they get rid of it? Lemon-like?
 
Triplex said:
I think I already told you that I went for a motorcycle ride last May and I ended up with four fractured ribs that evening. But remember that wasn't from the bike ride, I slipped and fell in the shower after I got back from the uneventful yet exhilarating ride. The takeaway is that I'm giving up showers, they're way more dangerous than motorcycles. :hilarious:
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My dad had scars from the 74 Harleys, so I decided early that I wanted a few more wheels.
 
Real Teamster said:
That's good advice for the guys, Jeff. Only thing I could add is "shop hard for a solid late model" instead of new. Let somebody else eat that depreciation.
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I wouldn't buy any new vehicle either, Newest in my driveway is a 2008 Honda Civic with 83k on it. I actually drive to work and back a 1998 Saturn with 200k on it.

Cars don't impress me at all
 
EX396 said:
Yes and no.

Somebody that only keeps a new vehicle for a year or two likely didn't treat it like they were keeping it for 20+ years ;)
If they did treat it well, why did they get rid of it? Lemon-like?
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My 2004 Silverado was 14 years old with 106k miles when it was flooded by Hurricane Isaias in 2020.
I bought it from the insurance co and sold it to a friend.
He still drives it today with no rust.
If I had kept that truck, the bottom would have fallen out by now.
 
seabreeze said:
My 2004 Silverado was 14 years old with 106k miles when it was flooded by Hurricane Isaias in 2020.
I bought it from the insurance co and sold it to a friend.
He still drives it today with no rust.
If I had kept that truck, the bottom would have fallen out by now.
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Are you talking about yours or the trucks? Inquiring minds want to know! :poke: :hilarious:
 
Jeff said:
I have had 1 creditor since 2002 (house) and 0 creditors since 2009 (paid off house) I don't borrow money
I used to use a credit card for rewards and pay it off in full but it makes me sick to my stomach to look at a credit card so I only use debit and cash
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Amen! Debt free since 1995! Pay cash, or use 1 credit card for everything else and pay the balance off each month. I don't even have, nor trust a debit card. Plan your work, and work your plan to retirement!
 
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