How do you afford this sport?

Ducky

Ducky

Back in the game!
Location
Charlotte, NC
mike b said:
@Ducky @chadman154 What card holder did you guys use? I'm going to look into this this week I think
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What are you looking for? I'm more concerned with the number of interest free billing cycles than rewards back.

Citi is great for this....my diamond preferred card has 21 months interest free. But they aren't stupid and won't just keep giving you interest free credit cards if you aren't carrying a balance on your other cards.
 
Fro Diesel

Fro Diesel

creative control
Location
Kzoo
Ducky said:
Well, glad you learned a very hard lesson. My advice to you would be to go to your bank and ask for a Secured Credit Card. Will have a very low limit, but will help rebuild your credit. Credit Scores are much more important than jetskis!
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Good luck convincing the dave ramsey thread...seriously credit isnt a big deal.

I am not glad you learned your lesson the hard way. There should have been better teaching, and openly talking about money as a family. Why the fawk is there no lesson on credit in a public school system.
I would like love to hear the story of how credit hurt someone. Or stopped them from achieving success. @Ancelmo

I had a roommate who was mechanically talented as crap, but he was $40,000 in debt before he was 24. I think he is eventually declared bankruptcy before he vanished in the middle of the night when I was on vacation. He had got his girlfriend pregnant so when I was away, he moved out. No matter how bad I thought I screwed up my credit, I realize at least, I wasn't him. He was turning 60 hours a week at $20 an hour and going to school full-time, his parents paid for school. So it's not like he couldn't pay the rent or some bills every now and then. I really can't remember this guy not having at least 9 or 10 cars at all times on different pieces of property. When your wants override your needs sometimes you get . ..a baby.
 
OCD Solutions

OCD Solutions

Original, Clean and Dependable Solutions
Location
Rentz, GA
I made plenty of credit mistakes when I was younger but thankfully learned before I dug a hole too deep to get out of. I had a couple friends claim bankruptcy but just couldn't bring myself to take the easy way out. Instead I approached a bank about a consolidation loan and that was the best thing that ever happened to me. They actually denied me which pissed me off so much that I set a personal goal to never borrow or carry credit again. I was making decent money at the time but I took on a bunch of side jobs and paid off my 2 credit cards and a line of credit that had been maxed out for 3 years. I sold off a project truck and downsized my main vehicle. Less than a year later, I was debt free.

Things in motion tend to stay in motion so I kept working...7 days a week...for 11 years! I built myself a house on a lake at 26 and bought a brand new 98 GSXL Seadoo with cash. The economy took a downturn less than a year after I completed my house and I was forced to move to Alberta. I lost $85K on my house but I made the best money of my entire career in Alberta and more than recovered. I spent a lot on toys in the next seven years but I banked a ton as well.

I haven't had a vehicle payment since 2001. I still drive nice vehicles too, I just shop much smarter. You would be amazed at the deals you can swing when you have cash in hand and the time to research.

We also put all expenses on our Capital One cash back card and pay it off every two weeks.
 
Wizards Powersports

Wizards Powersports

Location
Denver, NC
Some may think that credit isn't a big deal...but when it comes to buying a house, that thought may change. I only have a mortgage payment, nothing else, and I like not having a vehicle payment, etc to worry about. Might have to turn wrenches on the truck or fiancée's car, but I'm alright with that! That's why the Lincoln is around as a backup whip :)

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Parkersxr

Parkersxr

Location
Blythe ca
Wizards Powersports said:
Some may think that credit isn't a big deal...but when it comes to buying a house, that thought may change. I only have a mortgage payment, nothing else, and I like not having a vehicle payment, etc to worry about. Might have to turn wrenches on the truck or fiancée's car, but I'm alright with that! That's why the Lincoln is around as a backup whip :)

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Really is the only reason for credit . Houses interest rates and payments on our homes , I'll never have another payment again other then my houses , I did the young and dumb bought a bunch of stuff on credit . Done with that took me 8 years but it's nice having free to play with money again


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WAB

WAB

salty nuts
Location
coastal GA
Credit matters in all aspects of your life. Who wants to marry someone who couldn't even get financing on a $1000 loan?
You'll pay more for insurance on your auto, home, boat, etc with crappy credit. You'll get much worse rates on any type of loan. etc etc

If you can't have fun without spending +$10g's, you need a new hobby.

Hood Rich=Army Rich=White Guy Rich.
 
Jhucke

Jhucke

Location
Wisconsin
WAB said:
Credit matters in all aspects of your life. Who wants to marry someone who couldn't even get financing on a $1000 loan?
You'll pay more for insurance on your auto, home, boat, etc with crappy credit. You'll get much worse rates on any type of loan. etc etc

If you can't have fun without spending +$10g's, you need a new hobby.

Hood Rich=Army Rich=White Guy Rich.
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I agree with you about the 10k+ thing. I was reading some threads on wake world (wake boarding forum) the other day and the issue of how people pay for their wake machines comes up a lot. It's literally a second mortgage. so many people on that site purchase their $200k+ tricked out disco boat Ski Nautique and have no problem making the payments ($1000+) and losing another $30,000 on it the next year when they sell it back and buy a new one. I just don't get it.
 
Fro Diesel

Fro Diesel

creative control
Location
Kzoo
WAB said:
Credit matters in all aspects of your life. Who wants to marry someone who couldn't even get financing on a $1000 loan?
You'll pay more for insurance on your auto, home, boat, etc with crappy credit. You'll get much worse rates on any type of loan. etc etc

If you can't have fun without spending +$10g's, you need a new hobby.

Hood Rich=Army Rich=White Guy Rich.
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Credit does not matter to everyone. I am proposing an abstract way to look at financing. why stress about the interest rate that you pay for the stuff that you can't afford. Or the amount that you can borrow.

Credit IS silly. Maybe i should want what everyone else has.. but i dont. Money credit or low interest rate never seem like truly valuable things (to me).

"Living within your means" might be a better way to say it. "Content without credit"

And i will pay less. Bc i will show up with cash, while your at you job, or the bank getting approval or a check of money thst isnt yours.
If a good score is how you justify having something you can't afford to buy right now then I don't know what kind of game you're playing
 
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Ducky

Ducky

Back in the game!
Location
Charlotte, NC
Fro Diesel said:
Credit does not matter to everyone. I am proposing an abstract way to look at financing. why stress about the interest rate that you pay for the stuff that you can't afford. Or the amount that you can borrow.

Credit IS silly. Maybe i should want what everyone else has.. but i dont. Money credit or low interest rate never seem like truly valuable things (to me).

"Living within your means" might be a better way to say it. "Content without credit"

And i will pay less. Bc i will show up with cash, while your at you job, or the bank getting approval or a check of money thst isnt yours.
If a good score is how you justify having something you can't afford to buy right now then I don't know what kind of game you're playing
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Soooo you bought your house with cash?
 
tshank123

tshank123

Yo hablo ingles
Location
Vegas
OCD Solutions said:
Better to have credit and not need it than need it and not have it...

I had a buddy who made great money, paid cash for everything and found himself at the ripe age of 32 with zero credit. He finally grew up enough to start thinking about a house and a few other things and he couldn't finance a TV without a co-signer.
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Yet another example in our country of being punished for being responsible.
 
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