Saving Money as Prices Increase

[sandman2234]

Having a couple of credit cards will help your credit score. That can save thousands of dollars on big items like cars or homes. I am not promoting people go into debt but that is a fact and in fact, has helped me get a better rate in times past.

So, never heard of Dave Ramsey???
I personally could care less what my credit score is...because I have no intention of borrowing money! We are closing on another house next week!
David from jax

 

[Mtsoxfan]

But for those of us who choose to borrow money, unlike the 1%ers, credit effects our lives.
I am disciplined enough to save money and pay in full for all but major buys like a car.
Good on you for being able to be in the situation you are. I'd love to be there too.

 

[Diggin It]

So, never heard of Dave Ramsey???

Yes, but considering what I've heard about the way he mistreats people, I can't comment further here.

 

[Root Cause]

So, never heard of Dave Ramsey???
I personally could care less what my credit score is...because I have no intention of borrowing money! We are closing on another house next week!
David from jax

Yes, I am familiar with his views. It is a good way to live if that suits you.
Any decent financial advisor can show you both paths to see which builds more wealth over time.
If you do the math, we wouldn't disagree.
The difference is age (amount of risk you can take) and whether it just makes you feel better knowing it is paid for in full.
My goal is to be debt-free and have more in my IRA. Maybe you have enough. If so, good for you.

Credit is a tool. Some people know how to use it and some fear it.
You can dig with a shovel and I will use an auger. We both end up with a hole.

 

[Hay Dude]

What Dave Ramsey says has some truth, although I disagree with him on gold and some other views on money.
Always struck me as a “holier than thou” type.
You can always tell them when the first things out of their mouth are an attempt to make people feel bad or shameful about themselves.
In Ramseys case, having a loan for something.

 

[ultrarunner]

Work uses age based retirement investment allocation...

Never privately owned Bonds but about half my work plan allocated to bonds... seems counter intuitive last year straight 10% gain...

Question... Are Bonds a good way to save?

 

[Hay Dude]

Work uses age based retirement investment allocation...

Never privately owned Bonds but about half my work plan allocated to bonds... seems counter intuitive last year straight 10% gain...

Question... Are Bonds a good way to save?

Tax free munis!!

 

[Oaktree]

Our monthly CC bill is anywhere from $3k to $6k.

Eek!!! What do you buy that runs up a bill like that? I average maybe $500, probably 3/4 of that gas.

 

[daugen]

just about all retail pricing is already increased to factor in 3 percent credit card fees, so why pay inflated
prices when you don't have to, assuming you get cash back. I get one and two percent back on everything and yes everything goes on
my one high limit zero balanced card, so I can dispute the transaction if necessary. Pretty hard to order online without a credit card.

 

[Hay Dude]

just about all retail pricing is already increased to factor in 3 percent credit card fees, so why pay inflated
prices when you don't have to, assuming you get cash back. I get one and two percent back on everything and yes everything goes on
my one high limit zero balanced card, so I can dispute the transaction if necessary. Pretty hard to order online without a credit card.

Yes the buyer protection gives some peace of mind-good point.
If you own a business and CC all purchases you get a monthly statement, too. On average I’m spending $5-$10,000/mo on fuel, materials, parts, etc. so the cash back on that is nice to have.
Why turn down free money?