Bigblackted4
Superstar
The picture says it all
Personal Debt in the USA is out of control
- Thread starter Bigblackted4
- Start date
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- Tags
- debt debt crisis
The picture says it all
People really need it drilled into them that debt is not some shyt you use to go out and buy toys for yourself. Debt just allows people to buy things they really can't afford especially cars.
The policy needs to be unless it's to acquire an asset that appreciates in value or investing in one never use debt to buy anything you don't have the cash in the bank to erase the amount owed if push comes to shove.
The policy needs to be unless it's to acquire an asset that appreciates in value or investing in one never use debt to buy anything you don't have the cash in the bank to erase the amount owed if push comes to shove.
Can't take it with you 
Whips-n-Chains
Chi
It's absurd. ngl when I was in my early 20s I got my first CC and racked up like $2k in debt real fast b/c I was being a dumbass. Thankfully I got that paid off and learned my lesson. I carry zero debt, always pay off my card in full every month.
$117K in credit card debt will crush you. That shyt is probably north of 20% interest. The compounding on it will end up wiping them out.Can't take it with you
The BasedFather
Task Force
Almost got my ccs and car paid off. Never using my cards again or getting another car loan 
Whips-n-Chains
Chi
Car loans are the all time worst.Almost got my ccs and car paid off. Never using my cards again or getting another car loan
Cards are healthy to build your credit score. Make small purchases and pay them off every month and once a quarter, call the bank and ask them to raise your spending amount. This all boosts your credit score.
Bigblackted4
Superstar
They have 4 kids, and if you have any it’s selfish to think this wayCan't take it with you
Indeed, when u figure it out, u can get paid by the credit card company for ur purchases from all the ppl paying absurd monthly interest rates.
Think I redeemed between 1500 and 2000 dollars worth of points last year for cash. I save them up and use at Xmas
Whips-n-Chains
Chi
Yep, rack up points for free travel.Indeed, when u figure it out, u can get paid by the credit card company for ur purchases from all the ppl paying absurd monthly interest rates.
Think I redeemed between 1500 and 2000 dollars worth of points last year for cash. I save them up and use at Xmas
I used to work position that had me travel often and entertain clients. I had a company card, but I'd use my own personal card to rack up what was literally free points for all my airfare and dining expenses.
levitate
I love you, you know.
Raw.
Depends. If the amount borrowed is manageable and the interest is low it's not so bad. Problem is when you give people access to debt they overspend on things like cars because they don't need much money upfront.
Me personally if I can't put down about 60% of the price of a car it's a no(current car I put down about 73%). Also whatever my payment is I have to save that exact amount in a high yield savings account so that by the time I reach the midpoint of the loan it's pretty much over if I want.