Chasey_Lane
Salt Life
You're right!! You are sooooo right!!! Who wants to save thousands (sometimes hundreds of thousands) in interest. Stupid people, that's who!!!
Debt Free
- Thread starter Rommey
- Start date
You're right!! You are sooooo right!!! Who wants to save thousands (sometimes hundreds of thousands) in interest. Stupid people, that's who!!!
h3mech
Active Member
my family and i are working on the same goal, about 3/4 there
Larry Gude
Strung Out
"Opportunity cost" is a variable, nothing more than an educated best guess. At the time. Paying your debts off is a given, a rock solid place to be especially in uncertain times like these.
Sound advice. During good times and bad.
Baja28
Obama destroyed America
Man I love seeing you post. Reassures everyone that you still have the IQ of yogurt (my apologies to yogurt).
Attachments
DEEKAYPEE8569
Well-Known Member
You know that's not gonna happen. Right?
You might just have to bite the proverbial bullet and get a new one dug.
Or move.....
DEEKAYPEE8569
Well-Known Member
Baja28
Obama destroyed America
Hey Baja, can I use this for future posts? Yeah, even my own?
of course.
You were dropped on your head as child, weren't you?
GWguy
*
I love it here.....Guess I'm another person more stupider than yogurt. I paid off the house a few years ago, maximized my 401k, no other debts.
It was, and still is, a great feeling. Heading into retirement soon, and I have no worries. (none today...waiting to see what happens after sequestration...)
And as far as needing a tax shelter, I barely saw a difference in my year end taxes before and after the mortgage and property tax deductions. Still get a decent chunk back every year.
And yes, I opt to get a chunk back at the end of the year rather than strive for a $0 balance at the end of the year.
Rommey
Well-Known Member
I didn't mention it, but I have a wife so I'm guessing she will give me some practice every once in a while...
Already have that basically set up and funded, just want to beef it up a bit to feel more comfortable.
Yeah, it lasted until I got home tonight and checked the mail and found the Washington Gas bill....How long is thatfeeling gonna last though? March is on its way.
Or were you able to get your monthly bills paid up through December?
I'm not sure I want to prepay a year to all the utilities as that's not the best use of the money.
Rommey
Well-Known Member
You ate a lot of lead paint as a kid, didn't you?
How do you think I was able to pay off the credit cards? Here's a hint...the money that WAS going to the mortgage was now available to use in other areas. How's that for an opportunity cost? I would still be paying off stuff if I also had a mortgage, so that would have been a MISSED opportunity.
I'd rather be not "smart" with $12K in my bank account that be "smart" with the mortgage company having $12K of my former money...but that's just me.
So I'm able to pay myself instead of a bank. If that makes me stupid, then I'm stupid.
mamatutu
mama to two
I would rather be called stupid by someone who is stupid because that means I am not stupid.
Oh, and don't fret over your gas bill; we all know life very well; there is always something.
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ItalianScallion
Harley Rider
TJo is a liberal so don't expcet her to know anything about money management.
All I had when I retired was a house payment and I paid that off in 2007. I was paying $13,000 each year to the mortgage company and getting only about $3,500 back at tax time. Now I pay nothing to the mortgage company and I still get good money back from Uncle Barack.
The one thing that irks me though is my insurance rates. They say they can't give me the lowest rate because I don't have any credit history. IOW; I have no loans or credit cards for them to observe my payment history. It's not a signifigant amount though.
I asked the lady at Progressive (not Flo) if, in 12 years, I've ever been late on my insurance payment. She said not once so I told her: there you go! Use that as my credit history...she laughed but couldn't change the rate. :shrug:
ProfMoneyWise
Member
Shop your coverage. My Agent is aware I have no debt, live within my means, have an emegency fund, pay cash when I buy things, have a budget, have a "worth" (no such thing as net) and if my rates go up he will address it up his chain then. It is but one item looked at and State Farm realizes someone who can write a check for things is not to be punished because they don't have a FICO score/multiple lines of credit.
You can have $1M in the bank and not have a FICO score and a computer will deem you more of an insurance risk than someone who has debt.
Probably a good indicator of the culture that needs to change at home, in industry and with our leaders.
For grins I did ask my agent what the cost impact could be. He said less than $5 per month. For that price I will gladly keep my debt-free mindset and lifestyle if it became a last resort.
I've also found I prefer having an Agent between me and the company providing me the product over an 800 number.
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Vince
......
How old are you, 10?
Vince
......
So I guess me putting all that money in the bank from a house payment I'm no longer paying is a bad thing and I would have made more claiming the interest on my taxes.
ItalianScallion
Harley Rider
She told me the difference was @ $10 per year so I didn't pursue it. Now if I thought I could get out of paying that uninsured drivers premium, I'd pursue that.
C
czygvtwkr
Guest
For every dollar it saves you on taxes you have to spend three on interest, lots of people don't realize that. Hope you do.