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Buying Coins Or Bullion With Stimulus?

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United States
18653 Posts
 Posted 01/18/2021  06:58 am  Show Profile   Bookmark this reply Add Spence to your friends list Get a Link to this Reply

Quote:
Paying off your debt is the best route


At the risk of piling on, I agree with this 100%.
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Australia
18141 Posts
 Posted 01/18/2021  08:03 am  Show Profile   Bookmark this reply Add sel_69l to your friends list Get a Link to this Reply
You have to be financially secure (and fortunate), enough to use the Stimulus money to buy coins or bullion.

Instead,
I would use the money to pay down debts that are attracting the highest rates of interest.
Then consider family needs before selfish investment on coins or bullion.

You may love coins, but they can't love you back.
Besides,
I am not Scrooge Mc Duck.

Some Australians received vouchers to spend in our local and struggling tourist industry.
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31771 Posts
 Posted 01/18/2021  09:33 am  Show Profile   Check nss-52's eBay Listings Bookmark this reply Add nss-52 to your friends list Get a Link to this Reply
You did the wise thing. Very wise.
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 Posted 01/18/2021  10:43 am  Show Profile   Bookmark this reply Add panzaldi to your friends list Get a Link to this Reply

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I could not tell you the last time I carried a balance on my credit card. I am quite sure I was still drinking then




I agree with a lot of the above. Getting out of debt will not only give you peace of mind but, save you thousands of dollars in interest but will allow you the freedom to redirect those funds and savings into something else such as coins. there is no better feeling than not owing anyone anything. follow Dave Ramsey's baby steps to financial freedom. I know dozens of people that are now debt free by using his method including myself.
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4133 Posts
 Posted 01/19/2021  11:07 am  Show Profile   Bookmark this reply Add fistfulladirt to your friends list Get a Link to this Reply
I wonder, does paying down debt to a bank simulate the economy? I know that buying coins would.
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Canada
1723 Posts
 Posted 01/19/2021  11:30 am  Show Profile   Bookmark this reply Add samsnate to your friends list Get a Link to this Reply
. Whao! Fistful just dropped the bomb!
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96136 Posts
 Posted 01/19/2021  12:25 pm  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply

Quote:
I wonder, does paying down debt to a bank simulate the economy? I know that buying coins would.
That would be a no, which is why I wanted to actually spend mine this time.

I am now torn between the Lincolns and some home improvement, the latter which would be courtesy of a local business.
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 Posted 01/19/2021  1:15 pm  Show Profile   Check Collects82's eBay Listings Bookmark this reply Add Collects82 to your friends list Get a Link to this Reply

Quote:
I wonder, does paying down debt to a bank simulate the economy? I know that buying coins would.


I think that in the short term, no. But in the long term you aren't wasting money on interest paid to the creditor and you open that monthly payment for spending elsewhere. These are positive for you and the economy.
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 Posted 01/19/2021  2:06 pm  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply

Quote:
These are positive for you and the economy.
The former, yes, the latter? Maybe long-term when you spend the money, which does not help the economy now.
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 Posted 01/19/2021  6:33 pm  Show Profile   Bookmark this reply Add samsnate to your friends list Get a Link to this Reply
I get what collect is saying. By paying down debt you aren't stimulating the economy right now like it's meant to but if you pay down debt, the money saved by not paying interest comes available as liquid funds that you can spend. So a trickle affect. Effect? I don't know, one of the fects lol
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 Posted 01/19/2021  8:25 pm  Show Profile   Bookmark this reply Add tdziemia to your friends list Get a Link to this Reply
I agree with collects82. Excellent answer.

And when used as a noun, it's usually effect (trickle-down effect, special effects, Marangoni effect, etc.)
A little trickier when it's a verb, though affect is more common (affect the outcome).

Nitpickers can (and will) find exceptions, but these are reasonable generalizations.
Edited by tdziemia
01/19/2021 8:31 pm
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Canada
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 Posted 01/19/2021  11:57 pm  Show Profile   Bookmark this reply Add samsnate to your friends list Get a Link to this Reply
Gotcha!
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96136 Posts
 Posted 01/20/2021  10:11 am  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply

Quote:
So a trickle affect. Effect? I don't know, one of the fects lol
That put a giggle in my belly!
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4742 Posts
 Posted 01/21/2021  12:41 pm  Show Profile   Bookmark this reply Add TheForce to your friends list Get a Link to this Reply
I just paid off my balance transfer credit card yesterday! :D
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96136 Posts
 Posted 01/21/2021  5:10 pm  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply

Quote:
I just paid off my balance transfer credit card yesterday! :D
Congratulations!
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