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 Replies: 41 / Views: 7,947 |
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Moderator
 United States
34441 Posts |
Quote:
Paying off your debt is the best route At the risk of piling on, I agree with this 100%. "If you climb a good tree, you get a push."
-----Ghanaian proverb
"The danger we all now face is distinguishing between what is authentic and what is performed."
-----King Adz
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Bedrock of the Community
Australia
21788 Posts |
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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Moderator
United States
54283 Posts |
You did the wise thing. Very wise.
Show your financial support of the Coin Community Family (click here)See my topic on Mexican Numismatic Medals (click here) |
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Bedrock of the Community
 United States
18712 Posts |
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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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Pillar of the Community
United States
4333 Posts |
I wonder, does paying down debt to a bank simulate the economy? I know that buying coins would.
When I listen to LED ZEPPELIN...so do my neighbors...
Roll hunting since '77
Dirt fishing since '72
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Pillar of the Community
Canada
1723 Posts |
 . Whao! Fistful just dropped the bomb!  |
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Moderator
United States
189767 Posts |
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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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Pillar of the Community
United States
1316 Posts |
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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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Moderator
United States
189767 Posts |
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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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Pillar of the Community
Canada
1723 Posts |
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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Pillar of the Community
United States
7963 Posts |
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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Pillar of the Community
Canada
1723 Posts |
Gotcha!  |
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Moderator
United States
189767 Posts |
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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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Pillar of the Community
 United States
4870 Posts |
I just paid off my balance transfer credit card yesterday! :D
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Moderator
United States
189767 Posts |
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I just paid off my balance transfer credit card yesterday! :D Congratulations!  |
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Replies: 41 / Views: 7,947 |
First Page
Posted 01/18/2021 08:03 am
