Kimm
Moderator 
Posts: 2,993
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Post by Kimm on Mar 6, 2009 21:43:49 GMT -5
I epic fail on that because I cant save a dime.
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Post by Mahnarch on Mar 7, 2009 0:13:19 GMT -5
Kimmie, Kimmie, Kimmie: Are you a church goer?
See if your local church has a course called Financial Peace University (FPU)
It's a 13 week class that'll bring new light to your financial burden.
Also,....you aren't using credit cards, are you?
FPU Preview by the master, himself:
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Post by Classicblast on Mar 7, 2009 0:42:07 GMT -5
I have seen that. It's good advice.
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Post by Mahnarch on Mar 7, 2009 0:59:13 GMT -5
Yes it is.
Did you see it in person? Or just a vid?
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Post by Blastgirl on Mar 7, 2009 20:53:19 GMT -5
Classic should answer this for sure but I'm sure it was the video.
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Post by dannyboy on Mar 8, 2009 13:51:23 GMT -5
I think most people could operate that way with most things we buy but enough people have to have the new and glamorous ostentatious new car or whatever.
You could do something like that with houses too if you're willing to move often in the first 6 to 10 years maybe even for life. But you can keep making a profit and upgrading with each move.
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Post by Mahnarch on Mar 8, 2009 21:40:16 GMT -5
Like they say: "Every third house is free"
Buy, remodel. Sell. Repeat.
I installed a $2000 fireplace in my house 4 years ago and recently found out that it increased my home's value by $6-8000.
Awesome!! Too bad I don't plan on moving for.......ever.
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Post by Blastgirl on Mar 9, 2009 21:57:59 GMT -5
So if you move three times your third house is free? I don't know that what they say on paper is true even though I know what they mean. Like my Dad says if you put fifteen-hundred dollars repair into a four thousand dollar car it doesn't become worth fifty-five hundred dollars.
A guy said to my Dad "What does it become?" My Dad said "Drivable!" ;D
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Post by Mahnarch on Mar 9, 2009 23:08:13 GMT -5
Yes, but, a car doesn't increase in value like a stick built house does.
You can't pull any equity out of a car.
The 'every third house' thing comes because of the equity you've put into the first two, plus any value it's acquired over the years.
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Post by Phil on Mar 10, 2009 13:11:34 GMT -5
I don't really plan on moving either. You never know what happens in life but I'm kind of the king of non change.
I'm married to my high school girlfriend, I have had my job nearly my entire adult life, I have replaced my vehicles only if they got totaled.
Then again my auto notes are paid in 4 to 5 years and if I keep it 15 it's like a free truck of sorts too. I bought my house at the age of 28 so I should be paid fully on that around age 55.
I think it's a word to the wise though still with the video.
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Post by Mahnarch on Mar 12, 2009 1:00:18 GMT -5
I'm kind of the king of non change. I'll say! I was that guy dressed as a street bum the other day who asked you for a quarter and you ignored me! Then, I jumped into my Mercedes convertible and drove away. Heh, kidding.... ....you did give me a quarter. ;D *** As far as the video goes: It doesn't just apply to cars. Apply it to health care (screw the health care company). Retirement (screw Social Security). Disability (screw Medicare). Some states even allow you to 'self insure' if you have enough cash in a specially earmarked account for your car insurance. Screw paying monthly payments to State Farm, Progressive or All State that you'll never see back! (I think the minimum is $500,000, though......and the insurance companies aren't exactly willing to tell you this.) |
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