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Started By
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re: Anyone with big car notes, check in...
Posted on 8/2/14 at 11:20 pm to WG_Dawg
Posted on 8/2/14 at 11:20 pm to WG_Dawg
quote:
If he makes $130K a year tax free, he shouldn't have any debt.
It depends on where he's at in his life. I don't care how much you make if you're just starting out then there's reason to believe he had to finance some things.
2
Posted on 8/2/14 at 11:20 pm to 911Moto
quote:
Technically I don't have $30K in debt.
Yes you technically do have 30k in debt
Posted on 8/2/14 at 11:20 pm to LouisianaChessie
quote:
FWIW I think there's a chance I know you IRL.
Sorry
Posted on 8/2/14 at 11:21 pm to LouisianaChessie
quote:
It depends on where he's at in his life. I don't care how much you make if you're just starting out then there's reason to believe he had to finance some things.
He is 44 and on disability and staying at suites in fancy hotels.
Posted on 8/2/14 at 11:22 pm to stout
quote:
Sorry
Posted on 8/2/14 at 11:22 pm to stout
My goal is to never finance a car again. Free and clear on both vehicles and I thank God me and the wife are both very practical thinkers on cars.
Posted on 8/2/14 at 11:23 pm to liz18lsu
quote:
He is 44 and on disability and staying at suites in fancy hotels.
Carry on
Posted on 8/2/14 at 11:24 pm to LouisianaChessie
quote:
It depends on where he's at in his life. I don't care how much you make if you're just starting out then there's reason to believe he had to finance some things
False.
He's 44. A mortgage I understand, that's life. But at this point in his life, ANYTHING else is his own fault. Any car payment, credit card bills, etc. is his own doing. He's not just starting out. If he makes $130K there's no reason to finance shite other than a house.
Posted on 8/2/14 at 11:24 pm to LouisianaChessie
quote:
It was a knock on Southern
I know him IRL too
Posted on 8/2/14 at 11:25 pm to Tiger Ryno
My grandparents gave me their '91 Camry in 1999 when I was 17. I wrecked it immediately. I didn't have another vehicle until I was 21 (I walked and biked everywhere). I bought a pick-up truck for $3,500 cash. Sold it for that amount a couple of years later. Financed a car for $250/month. Paid it off. Was note free for about five months when the damn car got stolen in NOLA. Insurance gave me $13,500. 
This post was edited on 8/2/14 at 11:27 pm
Posted on 8/2/14 at 11:29 pm to 911Moto
You are going to die poor
Posted on 8/2/14 at 11:29 pm to Tiger Ryno
quote:
My goal is to never finance a car again
Meh...financing one isn't a bad thing if you are smart about it as was said earlier.
It's the $50K millionaires buying $120K in vehicles that gets me. Even worse when they have tons of toys financed on top of that then can't make their house note which leads to stress and an eventual divorce.
I see it every day in my business.
Posted on 8/2/14 at 11:32 pm to Thib-a-doe Tiger
quote:
You are going to die poor
And he deserves it.
Posted on 8/2/14 at 11:36 pm to WG_Dawg
quote:
WG_Dawg
Curious, is the WG for Waters/Gilmour?
Posted on 8/2/14 at 11:38 pm to stout
quote:
stress and eventual divorce
Not to mention the violence and stuff.
Posted on 8/2/14 at 11:39 pm to 911Moto
quote:
I have $30K of credit card debt, but my net worth is about $150K. I make $130K/year tax free. My expendable income is about 5K/month.
Why? Seriously, why? Why do you carry any debt pulling the equivalent of a $175k taxed salary?
Posted on 8/2/14 at 11:39 pm to WG_Dawg
quote:
This is the type of person who wins millions in the lotto and is broke in 5 years. The type of person who has absolutely ZERO sense of money and what to do with it. I guarantee you that I, making a little over 1/3 of what moto does, will have more money than him in 20 years.
Did you not read my first post about money? What good is it to accumulate money and never enjoy it in the prime of your life? I know PRECISELY how to manage my money and have lived on the edge like this for 23 years - and never missed a payment on anything. I will never go broke because I know exactly how to live to the fullest and spend every cent in the process. The first wise decision I made was to buy great own-occupation disability insurance the second I got out of school. I could easily cut back and have the credit cards paid off in 6 months or less, but I have no desire to cut back (or I could have let my wife work at some point). My last kid is still at home, and he is 14 and about to start high school. He is one of the top ranked martial artists in his age group, and he loves to compete. And I enjoy watching him compete. So we travel all over the country (about 2 dozen tournaments last year), and we make family vacations out of the fun places he competes (Orlando, Chicago, D.C., Anaheim, etc.). In a few years he'll be out of the house. All that money won't do me any good then. He's a 98th-99th percentile kid, so he'll get his scholarships. And if he doesn't I'll use that expendable income to pay for college instead of paying off my credit cards for a few more years. And I will enjoy (and my family will enjoy) an awesome lifestyle for every minute of it. And I will still never default on a single bill. I regret that my parents didn't spend more of their money. I watched my dad bust his arse for years longer than he had too because he was always too paranoid about money. He never carried debt. Ever. Things like his house, a 42' diesel pusher, 34' motoryacht, all his luxury vehicles - he always paid cash. I just decided to enjoy my life from the start, not after saving for 20 years.
This post was edited on 8/2/14 at 11:53 pm
Posted on 8/2/14 at 11:40 pm to liz18lsu
quote:
Curious, is the WG for Waters/Gilmour?
Lol great guess!
But no. I made this name in June of 2004, and I had planned on going to West Georgia for college. About a week later I got accepted into UGA. I don't think I'd even made a post yet so I didn't feel like creating a new name so just kept it.
Posted on 8/2/14 at 11:41 pm to LouisianaChessie
quote:
FWIW I think there's a chance I know you IRL.
Posted on 8/2/14 at 11:41 pm to 911Moto
Hiyaaaa!!
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