| Author |
 Replies: 41 / Views: 4,574 |
|
|
|
Pillar of the Community
Canada
1723 Posts |
Nice work Force! I'm close, aside from my home I'm about $3200 away from being debt free. Just need to finish paying off my AC unit before June when interest kicks in. Have to get that paid so I don't have to pay extra. ;-)
I could have had it paid off by now but I decided to put the money to a few small renovation and upgrades around the house. I figured I still have time so no use paying off something that isn't costing you yet. Of course I've made sure I can actually save the money to pay it off before it's due. Worst case scenario, I almost always have 2k sitting in the bank for emergencies I could pull from if I get into a jam.
Edited by samsnate
01/21/2021 5:45 pm
|
|
Moderator
United States
96136 Posts |
Quote:
Just need to finish paying off my AC unit before June when interest kicks in. Have to get that paid so I don't have to pay extra. ;-) Priorities!   I bought a new AC system back in 2011. Was the biggest thing I ever put on a credit card, but I paid it off that same month. Using the card was just for convenience. I do not have a checkbook.  Quote:
figured I still have time so no use paying off something that isn't costing you yet. Well done!  I bought some new appliances from Lowe's back in 2014, 12-months interest free. And yes, I took all twelve months to pay it because I could earn interest on that money and not pay interest to Lowe's. 
|
|
Pillar of the Community
Canada
1723 Posts |
Right!! It might not have been a lot of gained interest but it definitely better that you have it rather than the banks. If used wisely credit cards are a great tool to have for larger purchases especially since so many offer rewards and cash back rewards on every dollar you spend so that puts a few more bucks back in your pocket if you don't have to pay the interest. I also have gone a bit further at capped my CC. Another way to say to yourself "hey slow down, you're letting things get away from ya" ;-)
|
|
Pillar of the Community
Canada
1723 Posts |
Canada doesn't have a stimulus plan but we do have a recovery program for those that can't work due to Covid. It helps but doesn't cover much. I'm considered essential service where I am so I can work, well half the time. The other half the time I'm at home home schooling my two girls. With the government kicking in at least something per month and the bit I can work I bring in about 75% of my monthly income. This is another hard lesson to so many not to live beyond your means. I'm set up that I can scrape by on 50% of my monthly income. That's taken restraint and some sacrifices along the way but in a time like now I'm ever so grateful that I did and that I at least have some employment.
|
|
Moderator
United States
96136 Posts |
Quote:
I'm set up that I can scrape by on 50% of my monthly income. Well done! I want to retire and enjoy the lifestyle to which I am accustomed. One way to reach that goal is becoming accustomed to a more frugal and modest lifestyle.
|
|
Pillar of the Community
Canada
1723 Posts |
Yep, and it takes time to get used to the way of living. Credit these days don't make it easy either. In a time of "sure you can have it now and pay later" it's so incredibly easy to make a few quick impulse buys and next thing you know something else happens in life to add to it and then BAM. You're now fighting an uphill battle. Time like the late 80s and mid 2000 should have been good lessons for everyone. In 2008 when crap hit the fan I was working for Honda making really good money, lots of vacation time, benefits etc etc. The thing was I really didn't like working there, I was pretty bitter and crusty because I didn't enjoy the work. Due to the slow economy, they offered everyone Incentive packages to leave which I took and went back to school to change careers. The money floated my living expenses and paid for my school. I came out school and found a job working at the bottom making literally half of what I was making. There were lots of others that wanted to leave as well but couldn't because they had so much debt from buying all the toys and the big house etc etc. That's just another example of how lucky I was to be living being able to survive on 50% income. You don't have to go without, but you need to make smart informed decisions and really look at what you NEED and what you actually just WANT. The same thing goes in every aspect such as coins. Coins are all wants, but how much you spend and how many you purchase needs to be thought through, and if you're getting stimulus money it would be wise to not only look at the now but also in the future. This is an opportunity for you to maybe acquire some new lower value coins but also to help shape your financial future and these opportunities don't come around often. IMHO. Saying all that, I have a few bucks so check out my want list of Canadian coins  . ;-). Thanks. Edited by samsnate
01/23/2021 09:43 am
|
|
Pillar of the Community
United States
757 Posts |
i do not get a stimulus check. the streets are my stimulus. |
|
Bedrock of the Community
United States
10841 Posts |
I need a new ride before I can spend any stimulus money on coins. Until I am required to commute every day again, however, I will still drive my 19-year-old truck because I just don't need that big monthly bill. Heck, I can live without heat for drives to the grocery store. So maybe that '95 W ASE is within reach after all... |
|
Pillar of the Community
United States
4391 Posts |
Quote:
I bought some new appliances from Lowe's back in 2014, 12-months interest free. And yes, I took all twelve months to pay it The historically low interest rates have been great for those kinds of purchase. We moved into a new house in 2016, and did a major kitchen renovation in early 2017, using a 24-month interest free payment plan from Home Depot. We followed our plan to pay off about 2/3 of it with monthly installments, and then got lucky. A camper trailer we had stored in an outdoor lot was hit by someone, and wound up being declared a total. The insurance check paid off the balance of the Home Depot loan. (Otherwise, the plan had been to clear that debt from savings). Quote:
I need a new ride ... Me, too. My 2010 Prius is now over 160,000 miles. I was starting to think about what vehicle I would get next, and whether used, new, or a lease, when it was settled for me. My son and his family will move from Michigan to Wyoming over the summer, and only take one of their two cars with them. SO I will get the "hand-me-up" at a special family price. I truly lead a charmed life (in that I haven't had to curtail my coin purchases ).
Edited by tdziemia
01/25/2021 08:25 am
|
|
Moderator
United States
96136 Posts |
I look back at all the things I bought over many years. Most of it is gone, but the coins are still here. |
|
New Member
United States
33 Posts |
Buying coins with any money source is my advice.
|
|
Replies: 41 / Views: 4,574 |
|
Posted 01/21/2021 5:44 pm
