Don’t tell that to CNBC. They are reporting that the economy is taking off and that Wall St. is doing great. If the Republicans should happen to win the election, then they’ll be singing the blues and everything will be rotten again.
Loading up the cards before they file bankruptcy.
>>Live a debt-free life. Nothing finer. Learn patience and restraint.
Then this article isn’t about you. Its about the people who believe the leftist media hype about the “recovery” and start thinking that they should start spending again, even though they only make a fraction of what they used to make. It was just depressing to hear people who have taken lesser jobs talking about “giving the kids a great Christmas” when you know its all going on the plastic and there’s probably a bankruptcy in their future this year.
We live in a sick, depraved nation where fuel and food don’t count towards inflation, people who give up looking for jobs aren’t unemployed, and it’s a “recovery Christmas” when its all bought on credit. Is anything about our country honest anymore? Anything?
ping
People just following the government’s example.
About 5 yrs. ago I finally got in the position of having paid off the few credit cards I have. Nice.
I still use them. There are certain advantages to using them, ie. warranties, disputes.
But I pay them off at the end of the month.
After awhile you get into the mindset of whether you have the money to buy something or not. You forget about installments.
+1
30 years of hard work and happy (if not fancy) living means that the wife and I now have two houses fully paid off and enough invested in a very diverse portfolio to be stress free. A lot of people think that F.U. money involves millions of dollars. It doesn’t. Happiness is a choice that many people seem unwilling to make.
I'm enjoying following that advice. We have no mortgage, no credit card debt, no car payments, no debt at all. If I want it, I can buy it, but that means there is no thrill in buying the trash that commercials are trying to sell us. "Man does not live by bread alone". We are not denying ourselves anything we desperately need or want, but neither are we defining our lives by the stuff and toys we accumulate. My life is centered on my wife, my kids, and my friends - and, as you say, that is as it should be.
Yep! Zero debt other than a mortgage that is well above water. More than anything it gives a good peace of mind.
MAKE MONEY FROM YOUR CREDIT CARDS
A few generations ago many businesses, even gas stations, offered discounts for making purchases with cash. But the credit card companies put a stop to that by not authorizing use of their cards by businesses that offered cash discounts.
Now it has come full circle and many credit card companies themselves have some kind of rebate or cash back program for using their cards.
Since we cannot commonly get discounts for buying with cash we use credit cards that give us a rebate or cash back. We charge everything possible unless there is a fee attached - like local taxes, etc. And we pay the full balance at the end of every month. RELIGIOUSLY. We never pay interest or any kind of membership fee.
So we use the credit card company to float our purchases interest free and to give us a small amount back in lieu of a cash discount.
This is a good startegy for anyone with the self control to avoid carrying a balance over into the next billing period. It is not for those too far in debt or too weak willed to avoid running up large balances they cannot pay off immediately.
The growing debt is less a matter of people spending beyond their means, but rather, a consequence of the rising costs of fuel and food and declining wages. Many people are living at the margin and from pay check to pay check.
“Live a debt-free life.”
###
Why?
The losers and parasites are forgiven REPEATELY, dragging conscientious, fiscally honest citizens down with them.
That is the message being sent by the Tribal Administration.
Your advice USED to be very sage.
Keep living like no one else and you can avoid being bitten by these snakes!
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Keep living like no one else and you can avoid being bitten by these snakes!
Dave Ramsey Fan Ping List.
If you would like to be added to the “Live like no one else, so that you can LIVE like no one else” list, feel free to Freepmail me.
The big key is restraint. My lenten sacrifice has to do with spending money. I eliminated “choices”(although I still have better choices than half the world’s population).
Although it’s only been a few days, it’s gotten me to stop and think about how much is going to stuff I really don’t need and how often I make thoughtless small purchases.
I also noticed in the comments on the original article that some one is blaming the banks and the loans. For the bulk, had they figured out what they could REALLY pay before going into the banks, mortgage companies, etc. and stuck to it, the banks would have a harder time being predators.
And then there is congressional pork......
What that report shows for December 2011 is that in 2008 debt grew 6.0%, in 2009 debt grew only 3.0%, and in 2010 debt grew 4.1%, and 2011 is looking at about 3.5%.
So, this article seems to be an alarmist type article that is typical of the liberal media.
No choice now. With the average job lasting two years. Either live debt free or go bust - that is the choice now.
As the woman said to Obama "Beans and Franks" is that my "new reality"?
In 2007 someone told me that if we all did that strategy, the US and world financial markets would implode.
Studying the situation, I found he was right. The economy runs on debt, and has for almost 70 years.
Looking back into history, similar things have been done, but never on this scale. The crash is going to be nasty.