What to do with the money?

Larry Caldwell · 2025-10-28T22:52:55-0400

tradosaurus said:
There are many people abusing SNAP and hopefully this will spur them to work.

Ah, the undeserving poor. Do you feel virtuous? There is nothing so satisfying as having somebody to look down on.

Larry Caldwell · 2025-10-28T22:57:48-0400

2manyrocks said:
FWIW, giving to some organization means they'll use part of that $100 for administrative costs that keep the organization going. If you can find some person that actually needs $100 to pay their rent or buy groceries or whatever to actually live, that $100 may have more of an impact in that person's life.

My wife serves on the board of a county food bank that supplies all the local food pantries. Their overhead is tiny. That cash contribution will go much further buying wholesale than it will go in the grocery store that has to pay cashiers, stock boys, and hopefully make a profit. If you give it to somebody buying groceries, you are wasting a third of it.

not2old · 2025-10-29T01:37:22-0400

In Canada the interest on your residence is not tax deductible so I worked at paying mine off early by paying an extra $20.00 on the principle each payday. The first house that I had paid for was before I was 41. I always thought that when a government allowed all mortgage interest to be deductible, they were doing a disservice to their citizens.

Thall303 · 2025-10-29T09:13:29-0400

Must have been a very small mortgage and low interest rate?

lman · 2025-10-29T09:18:53-0400

Thall303 said:
Must have been a very small mortgage and low interest rate?

I paid $26,000 for my first house when I was 23 years old.

MossRoad · 2025-10-29T09:44:26-0400

Thall303 said:
Must have been a very small mortgage and low interest rate?

Our first house was $20K and we had to pay 3 points to get the interest rate down to 12.5%. The mean wage was about eight bucks an hour.

not2old · 2025-10-29T11:14:17-0400

Thall303 said:
Must have been a very small mortgage and low interest rate?

It was 1971 and we paid $18,500 for the house. I sold my motorcycle and saved like crazy for a few months to put down $900.00. Our required payment was $186.00 at about 9% and my weekly take home pay from a union warehouse job was $160.00. I didn't want a landlord controlling my life.