Material Possessions vs. Financial Security
Printed From: Tippmann Paintball
Category: News And Views
Forum Name: Thoughts and Opinions
Forum Description: Got something you need to say?
URL: http://www.tippmannsports.com/forum/wwf77a/forum_posts.asp?TID=184236
Printed Date: 14 January 2026 at 8:57am
Software Version: Web Wiz Forums 12.04 - http://www.webwizforums.com
Topic: Material Possessions vs. Financial Security
Posted By: DeTrevni
Subject: Material Possessions vs. Financial Security
Date Posted: 13 January 2010 at 10:31pm
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Man, I dunno what to do. I am living WELL beyond my means right now. I'm a college student and a simple cashier at a grocery store making $9 an hour, yet I own a '65 Buick (hence my avatar), an '04 Impala and a '05 Honda VTX1300 motorcycle. I have a paintball gun that costs over a grand by itself. However, I'm in debt up to my eyeballs. I have $6k left to pay on my motorcycle at $250 a month, I owe around $3k on my car at another $125 a month. I owe around $1,000 on my credit card bill at a minimum of $25 a month, with 12.something% interest. I'm pretty much only paying minimum, but I haven't missed payment yet. Interest is going to murder me. Fortunately, I don't have to pay rent or for college. I still live with my folks (ironically because of my situation, I can't afford to move out), so that helps a little. However, there is a way out of this. My Buick. I can sell that for enough money to cover the rest of my motorcycle payment and pay off my credit card bill. Then I won't have to pay for my motorcycle except for insurance, and I can start putting aside for savings and such. But there's a problem with this. That Buick means a LOT to me. First off, I'm a classic car fan. I love that car for the simple fact that it's a '65 Buick. Secondly, it was my first car. That alone gives it a lot of sentimental value. I worked hard for that car. I pretty much made Eagle Scout JUST for that car. That alone was worth making Eagle. I just love that car. Lastly, if I sell it, I'll regret it the rest of my life. I'll always look back and will regret that. So what can I do? I can sell the Buick and get out of my situation before it gets worse, or I can live paycheck to paycheck and try to regulate myself until I get caught up. The first one is much more financially secure, the second one will allow me to keep my material possessions. What are your thoughts on all this? ------------- Evil Elvis: "Detrevni is definally like a hillbilly hippy from hell" 
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Replies:
Posted By: Eville
Date Posted: 13 January 2010 at 10:37pm
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Get another card at 0% for xmonths on balance transfers and transfer your balance to that one. That will at least buy you some time. ------------- 
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Posted By: Darur
Date Posted: 13 January 2010 at 10:37pm
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Why did you buy another car and a motorcycle again? ------------- Real Men play Tuba [IMG]http://img89.imageshack.us/img89/1859/newsmall6xz.jpg"> PH33R TEH 1337 Dwarf! http://www.tippmann.com/forum/wwf77a/log_off_user.asp" rel="nofollow - DONT CLICK ME!!1 |
Posted By: jmac3
Date Posted: 13 January 2010 at 10:38pm
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Sell the car. There is no reason to keep it just for sentimental value. You'll regret not selling it when you are still in debt and still living at home. ------------- Que pasa? 
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Posted By: DeTrevni
Date Posted: 13 January 2010 at 10:38pm
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Darur: The Buick was a toy. My Impala is a reliable form of transportation. The Impala was basically necessity. The motorcycle I just wanted. I'll just say this: I'd consider selling the Buick before the motorcycle. J: I don't know. I talk to the old-farts around the car shows and races and such. 90% of them have a story they tell me with a sullen look in their eyes of a car they used to own that they still wished they had. ------------- Evil Elvis: "Detrevni is definally like a hillbilly hippy from hell"
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Posted By: brihard
Date Posted: 13 January 2010 at 10:43pm
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So let me get this straight... You're a student making $9 an hour, and you own or owe money on two cars (plus insurance I'm assuming) and a motorcycle, AND are holding credit card debt? Yeah... Whatever you do (your call) you need a bit more personal finance acumen. ------------- "Abortion is not "choice" in America. It is forced and the democrats are behind it, with the goal of eugenics at its foundation." -FreeEnterprise, 21 April 2011. Yup, he actually said that. |
Posted By: slackerr26
Date Posted: 13 January 2010 at 10:46pm
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dont you have like 5 grand worth of paintball guns and equipment? if so, sell off all but maybe 2 or 3 markers and only enough equiptment to sustain playing. if the buick means alot to you, sell the bike
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Posted By: Darur
Date Posted: 13 January 2010 at 10:48pm
QFT Sorry DeTrev, from the sounds of it something definitely needs to go, and if it isn't the bike then its gotta be the Buick, unless you plan to just sell the gun to pay off the credit card debt and get another job or something. ------------- Real Men play Tuba [IMG]http://img89.imageshack.us/img89/1859/newsmall6xz.jpg"> PH33R TEH 1337 Dwarf! http://www.tippmann.com/forum/wwf77a/log_off_user.asp" rel="nofollow - DONT CLICK ME!!1 |
brihard wrote:Posted By: jmac3
Date Posted: 13 January 2010 at 10:50pm
Doesn't mean they would have kept it even if it could help them get out of stupid debt. How do you even afford all that at $9 an hour? Do you spend money on anything else? ------------- Que pasa?
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Posted By: DeTrevni
Date Posted: 13 January 2010 at 10:53pm
Not really... ------------- Evil Elvis: "Detrevni is definally like a hillbilly hippy from hell"
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Posted By: slackerr26
Date Posted: 13 January 2010 at 11:07pm
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yea i wouldnt even think about selling the buick. i know if i had to i would sell every single thing i owned to pay off debt before i sold my firebird
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Posted By: tallen702
Date Posted: 13 January 2010 at 11:10pm
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DeTrevni,
Here's what I'd do. Sell off your paintball gun collection. Trust me, after years of gun hording and strapping myself for cash, I've finally gone down to 3 markers total. 1 that I will keep always, one that I have to tinker with, and 1 that I actually play with. If you have more than that, you're just wasting space and money with the rest. Secondly, I'd see about a new job. See if there's a position that you can get moved to at your store which will pay better, or find something outside of your current job that will pay more. Remember $1/hr at 40hrs per week = $2,000 per year gross. If you can make the jump of $4/hr even at just 30hrs/wk, that'd be $120 more per week gross that you could then use to pay down your credit card, over-pay your car/motorcycle loan (i.e. pay the payment and interest, and then put the overage towards principal) which will lower the monthly payments on either of those ultimately, or even just give you a bit more breathing room. I was the same way when I was younger. My father would always say that if I had a dime, I'd spend twenty cents. It's best to learn this lesson now than later in your life when you could get hit with a default on a card, loan, or mortgage and really screw yourself over. If that doesn't work, I would suggest seeing if you could pawn the Buick. Don't go to a title-loan store, they'll rape you with interest. If you got to a legit pawn shop, you can probably pawn the Buick for what you need to pay off the credit card. They'll usually give you 120 days to come up with the cash plus about 10% interest. That gives you four months to come up with $1,100.00 to get your Buick back. Of course, you'd better get it done or you'll lose out BIG TIME if you lose the Buick by defaulting on the pawn loan. But I'd try to either sell some paintball equipment to make up the credit card bill, or find another job first. Good luck. ------------- <Removed overly wide sig. Tsk, you know better.> |
Posted By: DeTrevni
Date Posted: 13 January 2010 at 11:14pm
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Honestly, guys, I know how fortunate I am to be in my position. Especially at only $9 an hour. The Buick is payed for, so it has no monthly cost. It does have insurance, but it's minimum coverage right now since I'm working on it. Well, going to. I can't afford to right now, for obvious reasons. I figure $250 plus $125 plus around $100 will be about $475 a month for my expenditures. Take into account fuel and the like, I figure I'm spending about $550 a month. Each paycheck I get is about a $225, times 4 for a month, so I get about $900 a month, with very little to take out. In theory, I should be able to manage. But that's risking a lot on something not very stable: my job as a cashier. Plus, I still live with my folks. I need to get on my own soon. But due to my personal spending habits, I'm in a lot of debt. It's like this: I MIGHT be able to make it if I don't sell the Buick, but I WILL make it if I do. I just don't really want to sell it. :( Edit: Tallen, you're right. I just don't know how much I've got tied into my paintball gear. I'll do some divvying and see how much I think I can make. I don't really want to, but it may be worth more than I think... ------------- Evil Elvis: "Detrevni is definally like a hillbilly hippy from hell"
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Posted By: TinMan
Date Posted: 13 January 2010 at 11:22pm
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Sell the bike, Buick, and part some of your markers. Pay down your debt.
Accumulate later.
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Posted By: StormyKnight
Date Posted: 13 January 2010 at 11:23pm
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It is time to take a long hard look at what you have. Place a value on all your toys in terms of necessity. You say the Buick is your prized possession? Keep it. The motorcycle is a no-brainer. Get rid of it. You can always get another later on when you can afford it. It is, afterall a Honda. The Buick sounds like one of those 'chance in a lifetime' opportunity. What are the chances you'll find another one as good or better for the same price? Doesn't sound likely to me. You need to concentrate on that credit card debt. You said it yourself, the interest is going to kill you. ------------- 
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Posted By: Eville
Date Posted: 13 January 2010 at 11:33pm
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Why don't you cancel insurance on the Buick and let it sit until you fix it?
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Posted By: DeTrevni
Date Posted: 13 January 2010 at 11:36pm
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I pretty much have. Antique insurance isn't that much, really, and since it was minimum, it doesn't help all that much.
------------- Evil Elvis: "Detrevni is definally like a hillbilly hippy from hell"
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Posted By: Koolit32
Date Posted: 13 January 2010 at 11:42pm
| Sell everything and live in the woods. |
Posted By: BearClaw
Date Posted: 14 January 2010 at 1:18am
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If it helps any i would have a hard time letting a car as nice as that buick go. BUT in a similare situation i did let a vehical that meant ALOT to me (not as nice a car but it was one i took from scrap and fixed up) go out of nessecity and as much as i miss it i DONT regret selling it ------------- AGD 68 Automag Azodin KPII Sheridan PGP2K Tippmann Crossover XVR Tippmann ProCarbine Tippmann SL68-II Tippmann TiPX |
Posted By: RoboCop
Date Posted: 14 January 2010 at 1:23am
| Sell bike. You don't look like you should be riding a bike. |
Posted By: tallen702
Date Posted: 14 January 2010 at 1:37am
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DeTrevni, I think you could probably part out some of your paintball gear and at least pay off the credit card. See if you can't ditch the bike too. You've already got a "play thing" in the Buick, you don't need two. Two toys are always trouble.
Don't sell the buick unless you really really have to. For one thing, it's at the point that so long as you don't let it deteriorate, it'll never lose value and will eventually only gain value as more and more wind up in scrap yards or as parts cars. I had the car I always wanted when I bought my '03 Impreza 2.5RS. I custom ordered it from the factory and have never been satisfied with the look of the Impreza since they changed up the headlights in '04. I like my Mazda, but I LOVED my Impreza. It wasn't even a classic car or anything truly special, but it was my Impreza and it was exactly as I wanted it. I've been kicking myself for the past 5 years over getting rid of it for a trade-up to the Mazda. Now, with the Mazda almost paid off, I'm seriously considering selling it within the year and using that money to buy an '01-'03 Impreza with as few miles on it as I can find. If I regretted selling my newer and rather common car which is somewhat easy to find for sale again, imagine what you'd feel if you sold your Buick and couldn't ever find another one to replace it down the road. Sell the paintball gear, sell the bike, pay off the credit card, keep your car payments up to date, and look for a better paying job. Do that, and you'll be fine. ------------- <Removed overly wide sig. Tsk, you know better.> |
Posted By: DeTrevni
Date Posted: 14 January 2010 at 1:38am
Huh? ------------- Evil Elvis: "Detrevni is definally like a hillbilly hippy from hell"
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Posted By: stratoaxe
Date Posted: 14 January 2010 at 5:14am
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If it were ME-and that doesn't mean much-I'd go for massive consolidation, you have far too many payments. The SMART thing (something Im not known for doing) would be sell the Buick bike and toys, and use the remainder to pay down the overall price of your driver, and either pay off or refinance for lower payments.
As someone who has lived WELL above his means hid whole life, I'm now attempting to make smarter decisions in an attempt to make this run at alot of time in college count. See, it starts when you're young, then you're 23 such as myself and living with a relative because you farted away your money and time on things you thought were important. I have three cars, somewhere around a dozen guns, a 42" Samsung with 1000 watt surround, a 2 thousand dollar stage amp, five grand worth of guitars, God only knows how much money in effects and equipment, etc etc, and I live with my sister because I can't afford an apartment anymore Prioritize...prioritze...look at where you're gonna be at my age. Right now if I want to be successful and not settle for less than what I know I'm capable of, I get endure damn near a decade of college life that I should already be halfway done with. All because I wanted to have everything now, party (my drinking habit was BAD-sometimes 300 bucks a week), got engaged, and then lost my job and simultaneously lost everything educationally. Yeah I'm ranting...but really a sore painful subject for me. I'm pretty embaressed at who I used to be, and I had so much potential. I graduated with 50 grand for college via the GI Bill, and a 4.0 from high school, now though it's not too late, it's VERY depressing to know that if I ever want to hit law school, I'm going to be working full time (50 grand only gets you so far), and I likely won't have an active social life until I'm nearly 30. I have to work twice hard because I was a financial moron. Sounds like you've caught your mistake early. Don't be sentimental-get a good education, and when you're done you can pay cash for any old muscle / classic car you want, and you won't have a debt burden. ------------- 
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Posted By: Flurry
Date Posted: 14 January 2010 at 7:37am
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sell blood...and other fluids. other than that...sell the bike. As far as I have read the bike is a toy that does not have the attachment that the Buick has. Other than that...get a job that pays more and get a better credit card. ------------- It sucks being antisocial alone. |
Posted By: Uncle Rudder
Date Posted: 14 January 2010 at 11:45am
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The way I see it you've got 2 options: 1) Sell the Buick/bike/whatever else you might have and are willing to part with
2) Get a job that pays more
Pay off that debt before you get put on the interest-treadmill. ------------- 
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Posted By: RoboCop
Date Posted: 14 January 2010 at 11:56am
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Posted By: Eville
Date Posted: 14 January 2010 at 12:15pm
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He's calling you fat. But Flurry has a good idea. You can make like 80$/week selling plasma.
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Posted By: Benjichang
Date Posted: 14 January 2010 at 12:20pm
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Sperm bank, IMO.
-------------  irc.esper.net #paintball |
Posted By: pb125
Date Posted: 14 January 2010 at 6:53pm
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Sounds like someone needs to grow up. ------------- 
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Posted By: __sneaky__
Date Posted: 14 January 2010 at 7:07pm
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Sell the bike, you don't need it. Use that money to pay off some debt, if you are still in debt at that point, sell the Buick. You will regret it in the long term otherwise. Debt is dumb my friend. ------------- "I AM a crossdresser." -Reb Cpl Forum Vice President RIP T&O Forum |
Posted By: __sneaky__
Date Posted: 14 January 2010 at 7:09pm
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Also, stop using credit, if you can't pay for something with cash, you don't need to be buying it. ------------- "I AM a crossdresser." -Reb Cpl Forum Vice President RIP T&O Forum |
Posted By: Yomillio
Date Posted: 14 January 2010 at 7:40pm
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I agree with what someone said above - the bike is replaceable, get rid of it. You have two toys - get rid of at least one. You'll always regret selling the Buick, but I bet you'll hardly think getting rid of the Honda as the worst move ever. When you stable out, you can always get another bike. It doesn't have the sentimental value of the Buick. In addition to that, try to thin out the paintball stuff you have lying about. Obviously keep what you use and those things you know that you never want to get rid of, but I know you have some stuff you'd be okay parting with. ------------- 
http://www.tippmann.com/forum/wwf77a/forum_posts.asp?TID=172327 - Forum XBL Gamertag Collection |
Posted By: Uncle Rudder
Date Posted: 14 January 2010 at 11:24pm
Tr00f -------------
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Posted By: Linus
Date Posted: 14 January 2010 at 11:32pm
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Answer:
What will make you more happy? ------------- 
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Posted By: TinMan
Date Posted: 14 January 2010 at 11:39pm
| Hookers and blow? |
Posted By: ¤ Råp¡Ð F¡rè ¤
Date Posted: 15 January 2010 at 12:35am
A lot of good suggestions I agree with in this thread.
Time to get serious. ------------- 
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Posted By: tallen702
Date Posted: 15 January 2010 at 1:10am
Someone take the temperature in Hell, Rapid Fire just gave some down right serious advice with bullet points. The apocalypse is near!  ------------- <Removed overly wide sig. Tsk, you know better.> |
Posted By: Glassjaw
Date Posted: 15 January 2010 at 12:24pm
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Pawn it?
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Posted By: High Voltage
Date Posted: 15 January 2010 at 1:23pm
That's almost as dumb as when rofl doubted science. ------------- 
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Posted By: TinMan
Date Posted: 15 January 2010 at 1:49pm
Pawning is temporary. After so many days they sell it. I think DeTrevni's
looking at a longer debt relief plan.
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Posted By: ¤ Råp¡Ð F¡rè ¤
Date Posted: 15 January 2010 at 1:52pm
Ha, that's just a little bit of the "organization-freak" side of myself showing. You guys made the suggestions, I just consolidated and listed them. -------------
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Posted By: jmac3
Date Posted: 15 January 2010 at 4:31pm
I would agree, but I kind of see what he means. Credit is good for some things, but if you can't afford unnecessary things with cash than why do you need to buy it? ------------- Que pasa?
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Posted By: High Voltage
Date Posted: 15 January 2010 at 4:38pm
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I agree DeTrev managed his credit poorly, but my point wasn't about frivolous spending. It was that credit isn't evil, actually it is a good thing. /marthastewart I hope sneaky meant DeTrevni should ease up on the credit card, not that credit should be avoided entirely. -------------
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Posted By: slackerr26
Date Posted: 15 January 2010 at 5:47pm
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in trevs current situation, his credit card should be entirely avoided
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Posted By: __sneaky__
Date Posted: 15 January 2010 at 7:27pm
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While I did mean credit should not be used for frivelous things, how is credit a good tool? ------------- "I AM a crossdresser." -Reb Cpl Forum Vice President RIP T&O Forum |
Posted By: *Stealth*
Date Posted: 15 January 2010 at 7:55pm
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Builds a credit history if used properly... Having a smaller balance always on your card can be beneficial.
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Posted By: scotchyscotch
Date Posted: 15 January 2010 at 8:02pm
| It's free money dude. |
Posted By: DeTrevni
Date Posted: 15 January 2010 at 8:11pm
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Well, I think I'm still shallow enough in my hole to claw my way out. I'm just glad I'm not too eaten up by it yet. I'm still meeting all my payments on time, so while I may be butchered with interest, at least I won't get bad credit. ------------- Evil Elvis: "Detrevni is definally like a hillbilly hippy from hell"
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Posted By: *Stealth*
Date Posted: 15 January 2010 at 8:34pm
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Dude, just use tax season returns to bale out.
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Posted By: __sneaky__
Date Posted: 15 January 2010 at 8:54pm
------------- "I AM a crossdresser." -Reb Cpl Forum Vice President RIP T&O Forum |
Posted By: *Stealth*
Date Posted: 15 January 2010 at 8:56pm
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Statistically more difficult? How so? ------------- |
Posted By: __sneaky__
Date Posted: 15 January 2010 at 9:12pm
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------------- "I AM a crossdresser." -Reb Cpl Forum Vice President RIP T&O Forum |
Posted By: High Voltage
Date Posted: 15 January 2010 at 11:15pm
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I think you are mistaking my use of the word credit. I left off cards for a reason. Do you plan to pay cash for your first new car or house? No loans in your future?
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Posted By: __sneaky__
Date Posted: 15 January 2010 at 11:47pm
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My car was bought with cash actually ;) ------------- "I AM a crossdresser." -Reb Cpl Forum Vice President RIP T&O Forum |
Posted By: Evil Elvis
Date Posted: 16 January 2010 at 12:11am
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My Suggestion....
Shelve the Buick( it's the only solid investment there) , Sell the Bike, Sell 85% of your Paintball Stuff, You can always find it on Ebay for 1/2 of what you paid for yours. Get a paper route, suck it up and pay down your bills, stay at home for the foreseeable future. ------------- 
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Posted By: slackerr26
Date Posted: 16 January 2010 at 12:21am
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Posted By: Snipa69
Date Posted: 16 January 2010 at 1:56am
I hope your kidding. Revolving credit card debt is what people do when they for sure want to be poor forever. ------------- http://imageshack.us - [IMG - http://img456.imageshack.us/img456/857/sig9ac6cs1mj.jpg - |
Posted By: choopie911
Date Posted: 16 January 2010 at 2:35am
| Ugh, all I have done lately is be in class, be doing homework or readings, or working. Seriously sucks lately :( |
Posted By: High Voltage
Date Posted: 16 January 2010 at 3:00am
And you drive what? -------------
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Posted By: Eville
Date Posted: 16 January 2010 at 3:04am
There is nothing wrong with it as long as you use it as a tool to pay off your debt instead of a tool to delay debt. -------------
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Posted By: __sneaky__
Date Posted: 16 January 2010 at 10:39am
------------- "I AM a crossdresser." -Reb Cpl Forum Vice President RIP T&O Forum |
Posted By: MeanMan
Date Posted: 16 January 2010 at 12:02pm
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The only way for you to decide is to get 2 chickens. Write "material possesions" on one, and "financial security" on the other. Last one standing will be your choice. You even get dinner out of it.
Also....invite others and you could profit by gambling. ------------- 
hybrid-sniper~"To be honest, if I see a player still using an Impulse I'm going to question their motives." |
Posted By: __sneaky__
Date Posted: 16 January 2010 at 12:25pm
------------- "I AM a crossdresser." -Reb Cpl Forum Vice President RIP T&O Forum |
Posted By: High Voltage
Date Posted: 16 January 2010 at 12:43pm
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So you bought a used car, not a new one like I said. Great comprehension skills there.
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Posted By: __sneaky__
Date Posted: 16 January 2010 at 1:10pm
------------- "I AM a crossdresser." -Reb Cpl Forum Vice President RIP T&O Forum |
Posted By: Eville
Date Posted: 16 January 2010 at 2:01pm
are you going to wait until you can pay in cash to buy a house? -------------
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Posted By: __sneaky__
Date Posted: 16 January 2010 at 2:09pm
No, that is a different monster tho. You have alternatives when it comes to cars. Cars depreciate in value most in their first two years, houses tend to hold or increase in value over time, so long as they are properly maintained. That being said, I won't be going out and buying a 200,000 house right off the bat. Patients is a virtue.  ------------- "I AM a crossdresser." -Reb Cpl Forum Vice President RIP T&O Forum |
Posted By: Eville
Date Posted: 16 January 2010 at 2:52pm
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What are you talking about?
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Posted By: Yomillio
Date Posted: 16 January 2010 at 2:59pm
*Patients are a virtue. *Patience is a virtue. -------------
http://www.tippmann.com/forum/wwf77a/forum_posts.asp?TID=172327 - Forum XBL Gamertag Collection |
Posted By: slackerr26
Date Posted: 16 January 2010 at 5:22pm
brand new car is not a necessity. an older car bought with cash for 4 or 5 grand performs just as good as a car off the lot -------------
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Posted By: Eville
Date Posted: 16 January 2010 at 5:38pm
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That wasn't the point.
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Posted By: __sneaky__
Date Posted: 16 January 2010 at 6:20pm
------------- "I AM a crossdresser." -Reb Cpl Forum Vice President RIP T&O Forum |
Posted By: High Voltage
Date Posted: 16 January 2010 at 6:44pm
That's not the point. It all comes down to responsibility. Nobody here is supporting what DeTrevni did. The point is that credit is a useful tool to aid on big/important purchases. Buying something like a car or house on credit isn't dumb, agreeing to pay for it when you can't afford monthly payments is dumb. If you can, however, it is great for building your credit which will help you out later. What are you going to do when an emergency comes along that requires more money than you have in your pocket or account? With your pay-cash-for-everything attitude good luck securing a loan when your credit history is non-existent. -------------
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Posted By: Eville
Date Posted: 16 January 2010 at 6:54pm
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Sneaky, we aren't talking about buying cars, we are talking about establishing credit.
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Posted By: High Voltage
Date Posted: 16 January 2010 at 7:02pm
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Hell even buying a used car on credit is acceptable, especially when you have the money saved already. Put down a nice deposit and pay the rest off out of your car savings. Easy way to establish good credit.
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Posted By: usafpilot07
Date Posted: 16 January 2010 at 9:02pm
What about the next time you need a new pink glove? ------------- Buffalo buffalo Buffalo buffalo buffalo buffalo Buffalo buffalo |
Posted By: slackerr26
Date Posted: 16 January 2010 at 9:17pm
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have granny sew one
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Posted By: mamasboi
Date Posted: 17 January 2010 at 3:25am
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detrevni do you know what you might be getting from your tax return? If it is a nice amount use that to pay off your credit card and if not supplement that by selling some of the paintball parts you have accumulated then all you'll have to worry about is paying off the bike and the car. |
Posted By: Mack
Date Posted: 17 January 2010 at 11:55am
. . . and I will add "Live like a monk*." *Something I had to do given the financial situation I was in after my first marriage ended. It was rough, but I didn't lose the house**. I also learned valuable life lessons such as you can pretend there is actual meat in with the rice if you toss a couple of bouillon cubes into the water you cook it in and eat it with your eyes closed. **I did have to rent out a room to keep the place though. ------------- 
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Posted By: Mack
Date Posted: 17 January 2010 at 12:12pm
Yeah, it's a double post; it's also a different subject related to this topic so get over it.
Ditto*. While I use a credit card exclusively, it's never used for anything I can't afford to pay cash for. it's just handier and is paid off at the end of the month. Additionally, Sneaky has a very good point about not buying stuff you don't actually need. (And it is a valid point whether you have the money on hand for such purchases or not.)
Actually, DeTrevni is talking about getting out of debt; which has to be done before establishing credit for most people. (He's lucky that his credit rating isn't already in jeopardy.) *More accurately, I financed it and payed the entire balance as the first payment. (Long story) -------------
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Posted By: Eville
Date Posted: 17 January 2010 at 12:24pm
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Mack, that is what detrevni was talking about yes, but the other conversation in this thread is about establishing credit.
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Posted By: Mack
Date Posted: 17 January 2010 at 12:33pm
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But the comment that everyone is getting on Sneaky about was directed towards DeTrevni's situation, not establishing credit in general. I should point out that a lot of the rules regarding "establishing credit" are changing due to the current economic challenges the nation is facing. Additionally, the use of credit cards to do so will probably get more difficult with the changes that are occurring as the card companies alter their business models to protect their profits and the government intervenes to protect card holders. I should also point out that I think you and Sneaky are involved in two different discussions without realizing it. (You are discussing credit in general and the shift from debt was subtle enough that I think he is still focusing on the original topic.) Edited: For grammatical accuracy -------------
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Posted By: Eville
Date Posted: 17 January 2010 at 12:41pm
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That is entirely possible.
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Posted By: stratoaxe
Date Posted: 18 January 2010 at 7:13am
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The troll makes a good point. -------------
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Posted By: brihard
Date Posted: 18 January 2010 at 7:57am
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Best spambot post evar. ------------- "Abortion is not "choice" in America. It is forced and the democrats are behind it, with the goal of eugenics at its foundation." -FreeEnterprise, 21 April 2011. Yup, he actually said that. |
Posted By: __sneaky__
Date Posted: 18 January 2010 at 8:53am
------------- "I AM a crossdresser." -Reb Cpl Forum Vice President RIP T&O Forum |
Posted By: SSOK
Date Posted: 18 January 2010 at 1:45pm
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1. Dump honda. The honda has no sentimental value to it, and you're only driving it because it has two wheels. When you're old and fat buy a piece of crap motorcycle and enjoy life.
2. Liquidate paintball collection, sans a few markers. What do you use the most? Duck? Keep the duck, a $20 SL 68, and a simple semi auto. No rainmakers, no cockers, no tinkering. Use a 98 Custom and an aftermarket barrel if need be.
3. If no solutions still arise, sell the Impala. Buy a late 90's four cylinder poopbox sedan for under $5k that you dont need to pay a dime for monthly execpt insurance.
Park the Buick in your garage. Put it on jackstands, put stabilizer in the tank, remove the battery and put a cover on it. Leave it there, and dont put a dime into it. Never, EVER let go of the car unless you need to feed a family. Look at how much you regret letting go of your original SL, and those are a dime a dozen. Put it away, but never sell it. ------------- 
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Posted By: FreeEnterprise
Date Posted: 18 January 2010 at 2:19pm
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Get out of debt.
IMO, the only debt you should have is for a house, and that debt should be a minimum of 30% less than the value of the house to allow for market fluctuations.
The more stuff you have, the more stuff you have to take care of and maintain. Personally, I don't see very many cars that are good "investment" vehicles. Sure there are some, but they are rare. Most people waste tons of money on their cars, and they live in debt.
If you are in debt, you are beholden to someone else... (some societies even see this as a type of slavery)
Smart people have no credit card debt, or car loans, and own a minimum of 50% of their homes, and also save 10% of their income for retirement. If you are living this way while still at home... And you don't change. You will be in serious trouble when you get out "on your own". ------------- They tremble at my name... 
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Posted By: Ross17
Date Posted: 18 January 2010 at 4:14pm
Wouldn't you say smart people are in the military in that case? In the air force we receive free food on base, free housing on base. If we move off base they give us an additional $1100 a month for housing and $400 a month for food, whatever we don't use from that we pocket. My brother rents a house with 2 other Airmen from his base, he pays $400 a month for his housing, pockets $700 on top of his paycheck each month. As to the question at hand: Sell the bike and some of the paintball gear. I have yet to see a real reason for keeping the bike over the Buick, and I cannot think for the life of me of a real necessity for having the bike. If the Buick has that much sentimental value to you, keep that, sell some of the paintball gear, pay off your debt. |