redditenjoyer737
redditenjoyer737 t1_je9n7k2 wrote
Reply to Why are we encouraged to charge everything to a credit card but get penalized for high credit utilization? by New-Row7111
You are spending way too much time and energy obsessing over your credit score. You're likely also over-spending because you have the ability to charge. You "spent a little extra" because it was easy and convenient because you had the headroom on your credit to do it. Had you had the cash on hand, you might have decided not to spend it.
redditenjoyer737 t1_jae4i2j wrote
Reply to comment by nabeel_co in Affirm: 0% Interest for 36 monthly payments. Why wouldn't you do this? (US/CAN) by nabeel_co
>leverage credit and at least get to keep my money making me income
Honestly - how much after-tax income are you making financing a $1,000 phone?
redditenjoyer737 t1_jadkis0 wrote
Reply to Which loan to pay off first? by [deleted]
Snowballing (assuming a mininum payment of $235 on the SL and $400 on the PL + an additional $500/mo) would result in a total interest paid of $9,037
Avalanche method of paying highest interest first would mean $3,968 would be paid in interest.
redditenjoyer737 t1_jadejgs wrote
Reply to comment by nabeel_co in Affirm: 0% Interest for 36 monthly payments. Why wouldn't you do this? (US/CAN) by nabeel_co
I got a new Pixel 7 for free several months ago by trading in my old phone (Motorola G4 or something or other that I bought for $150 and had a street value of $5. The deal was literally, trade in any phone and get the Pixel 7.
So look at what your provider is offering in terms of deals and if you aren't super picky about having the latest and greatest features, you can get a very functional, useful phone for cheap to nothing.
I'm like you - I'd never pay $1,000 for a freaking phone.
redditenjoyer737 t1_jade7eh wrote
Reply to comment by antwan_benjamin in Affirm: 0% Interest for 36 monthly payments. Why wouldn't you do this? (US/CAN) by nabeel_co
This is where the "But its free money" argument breaks down. Spending $3k on bullshit at 0% isn't 1worth it if you would have otherwise spent $1,200 on necessities and paid cash.
People overspend when they use credit - plain and simple.
redditenjoyer737 t1_jad2d42 wrote
Reply to comment by corumgold in Pay off the rental house mortgage or continue investing? by corumgold
As in what is going to matter more to you - an extra $1,800 or waking up knowing that each morning, that dirt under your feet is yours and yours alone and that you're no longer making payments on anything (except to Uncle Sam)
redditenjoyer737 t1_jacvgoo wrote
Reply to comment by corumgold in Pay off the rental house mortgage or continue investing? by corumgold
When you look back on your life and stack up all of your chips into retirement, is that $1,800 going to matter much in your net worth?
redditenjoyer737 t1_ja99urz wrote
Reply to $20k in 0% APR CC debt, Need to open new card(s) to pay this down. Any better options? High-ish income, good credit. by Finally_
You clearly suck managing debt and credit so your best move is to create a budget for yourself, pause your 401k for a few months and do whatever you freaking can to pay down the debt.
redditenjoyer737 t1_j6ga09v wrote
If you owed $5k on your car, would you walk into a bank and take out a $9k loan at 5%?
redditenjoyer737 t1_j6g03df wrote
Reply to comment by 4192gym in Pay down on house or keep in savings? by jws1300
Lol SPY is down -10% in the last year.
Pissing away money is paying guaranteed interest to a bank.
redditenjoyer737 t1_jeencp8 wrote
Reply to Is a $500 car payment too much by [deleted]
With $2,400 extra in your budget each month, why are you financing a car?