Blackout
just your usual nerdy brotha
The way he is doing it makes it so that he gets more money too. Both the bank and him benefit.
Average Monthly Auto Loan Now $503 @ 68 months
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a nikka was stunting on me today at work.....put his benz keys on the shirt.....but little do he know, im not even a jealous guy....u fighting the wrong person....plus i understand this how most cats with expensive shyt are usually broke and are one missed pay check away from living in it
little do he know i got mad racks saved with no debt and a side business....but all he see is some nikka behind a register in his small mind
point is, material shyt = slavery
because youre going to have to owe somebody for that shiny piece of metal
little do he know i got mad racks saved with no debt and a side business....but all he see is some nikka behind a register in his small mind
point is, material shyt = slavery
because youre going to have to owe somebody for that shiny piece of metal
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The way he is doing it makes it so that he gets more money too. Both the bank and him benefit.
It's more risk. How about not making the bank richer and really owning your stuff.
Blackout
just your usual nerdy brotha
If you use it on monthly bills that you would of used your own money for anyway and pay it all off early there isnt any risk and you get money from doing it too from cashback.
It makes money for both you and the bank. Just another hustle your missing out on Truefan
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Well hot damn, who would've thought it could be all so simple?Take that 400-500 car payment, put it in a Roth IRA, 25-30 years later you got easily over a million that's tax and penalty free.
Wanna look like a baller though
I don't see why more people don't think like this...we've got nothing but time after all :whiteparadise:
It's always riskier leveraging future earnings you haven't earned yet.
And people should be budgeting things like monthly bills before even paying for a car.
Well hot damn, who would've thought it could be all so simple?
I don't see why more people don't think like this...we've got nothing but time after all :whiteparadise:
It really is simple. So simple we forget about it sometimes. People wanna work forever?
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Blackout
just your usual nerdy brotha
Actually its using money that you have earned but you delay using it on your monthly bills by charging it on the card for cashback.
Then the next month you pay the charge on the card from the last month full and then start it again by paying your next monthly bills with your card.
Doing this process makes sure you get extra money by simply using money that you would have spent yourself.
Therefore no risk whatsoever and makes you a bit of money.
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I understand what you're saying and the cash back bonuses are what drives the activity. If you're disciplined enough to pay your cc full every month that's fine. You've got discipline. But overall a lot of people, millions, don't do this. Hence the bad habit forming.
Again it's always riskier leveraging future earnings.
Blackout
just your usual nerdy brotha
As long as there is a safe method that can be done to make money that can be figured out by most people including myself then the problem is on the person and not the card itself.
Student loans can be blamed on the loan and not the person but credit cards can hardly take the blame for someones recklessness.
I think the blame is on both the person and the idea of debt. Gotta blame the person. Nobody's forcing anyone to go into debt they cannot repay.
What you propose is relatively safe staying disciplined. But it's riskier than just paying your bills with cash. You may like the benefits of waiting, I get it, but paying bills with cc invites a level of risk moreso than just paying it.
Blackout
just your usual nerdy brotha
Its the same thing as paying your bills in cash. 1 month delay doesnt change much.
Its all a hustle to make you more money.
There is risk in everything. Are you scared to even cross the street?
i feel a large percentage of people with credit card debt put emergency expenses onto the card because they have no savings. if they didn't have the cash flow to pay the emergency expenses in the first place, they likely won't have the funds to make more than the minimum once they put it on the card.
credit card companies know this and keep upping the limit on people who make minimums on time and are close to their credit limit. life happens and they charge even more to the card.
@Truefan31 
Lets stop talking in terms of debt since you want to get your fake ass Suze Ormand Dave Ramsey judgement on and just talk about scenarios and positioning.....
Who is better off....
2 dudes have the same $15K car and the same accident.... car is totalled and worthless.... dude A paid cash for the car and didn't have collision insurance, only has $5K in the bank..... dude B financed the car and by law had it fully insured.... $15K in the bank, $10K on his car note, $15K check from the insurance company.... you gonna lie through your teeth and say dude A?
2 dudes are saving for retirement..... dude A has $20K in the bank earning 10% a year with a $10K 5 year car note at 2.5%.... dude B has $10K in the bank earning 10% a year. Who has more money at the end of 5 yrs? It's gonna be dude A.... even if dude B saved dude A's car note every month dude A still got a huge head start.
You talk about debt being risky, but then suggest people don't fully insure their cars and spend money they could have saved for an emergency fund on a cheap car
Again what happens when Cash Man crashes his car, and doesn't have insurance to cover it or cash to fix/replace it? How is debt risky when my CC company splits the merchant fees they charge to vendors with me and sends me a monthly check at no cost?
Bro you are a pawn in this $$$$ shyt.... debt is a tool wealthy people use to their advantage. Why spend my money if I can spend somebody else's- especially if they're gonna PAY ME to do it? Why risk my cash when I can risk someone else's... I'm good for it and if I'm not credit is very easy to rebuild. You have no idea what you're talking about
Lets stop talking in terms of debt since you want to get your fake ass Suze Ormand Dave Ramsey judgement on and just talk about scenarios and positioning.....
Who is better off....
2 dudes have the same $15K car and the same accident.... car is totalled and worthless.... dude A paid cash for the car and didn't have collision insurance, only has $5K in the bank..... dude B financed the car and by law had it fully insured.... $15K in the bank, $10K on his car note, $15K check from the insurance company.... you gonna lie through your teeth and say dude A?
2 dudes are saving for retirement..... dude A has $20K in the bank earning 10% a year with a $10K 5 year car note at 2.5%.... dude B has $10K in the bank earning 10% a year. Who has more money at the end of 5 yrs? It's gonna be dude A.... even if dude B saved dude A's car note every month dude A still got a huge head start.
You talk about debt being risky, but then suggest people don't fully insure their cars and spend money they could have saved for an emergency fund on a cheap car
Again what happens when Cash Man crashes his car, and doesn't have insurance to cover it or cash to fix/replace it? How is debt risky when my CC company splits the merchant fees they charge to vendors with me and sends me a monthly check at no cost? Bro you are a pawn in this $$$$ shyt.... debt is a tool wealthy people use to their advantage. Why spend my money if I can spend somebody else's- especially if they're gonna PAY ME to do it? Why risk my cash when I can risk someone else's... I'm good for it and if I'm not credit is very easy to rebuild. You have no idea what you're talking about
Like I said I just replaced my A/C and it cost me $12K. I could have financed it at 0%, and I had the cash to pay it out right, but I upped my CC balance and put it on my credit card instead and paid off the balance IMMEDIATELY. CC company cut me a check for $240 PLUS 2% of my other expenditures for the month at the end of the billing cycle. Again I obviously could have paid it cash, and I essentially did.... but I made an extra $240 "going into debt" for a couple of hours. There are ways to finesse the shyt but you have to have the cash and know what the fukk you're doing, which @Truefan31 doesn't.i feel a large percentage of people with credit card debt put emergency expenses onto the card because they have no savings. if they didn't have the cash flow to pay the emergency expenses in the first place, they likely won't have the funds to make more than the minimum once they put it on the card.
credit card companies know this and keep upping the limit on people who make minimums on time and are close to their credit limit. life happens and they charge even more to the card.
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