Ramsey debt viewpoint explained

[longbow51]

Heck, my credit went down 76 points (Experian notifies me monthly since my stock brokerage was hacked) when I applied for a Scheels card to get a $70 gift card for buying that pricey new Garmin chrono. No debt for decades. Can't imagine what a foreclosure would do. I knew it would dip every time a vendor checked credit, but was surprised at the amount. Doesn't matter, don't plan to buy anything on credit.

And not to derail, but man, that Garmin is tiny.

 

[BigHornRam]

What about not paying millions in income taxes and having a friend cover me with a no interest loan. Will Dave teach me how in his $49 book?

 

[longbow51]

What about not paying millions in income taxes and having a friend cover me with a no interest loan. Will Dave teach me how in his $49 book?

Might not need the book, or even $49. What is your last name?

 

[BigHornRam]

Might not need the book, or even $49. What is your last name?

The wrong one.

 

[geetar]

Heck, my credit went down 76 points (Experian notifies me monthly since my stock brokerage was hacked) when I applied for a Scheels card to get a $70 gift card for buying that pricey new Garmin chrono. No debt for decades. Can't imagine what a foreclosure would do. I knew it would dip every time a vendor checked credit, but was surprised at the amount. Doesn't matter, don't plan to buy anything on credit.

And not to derail, but man, that Garmin is tiny.

Mine went down tons during Covid because one of my bank cards that had a $4500 limit got cut to $500. I don't think I even had a balance on it at the time but it plummeted my credit score because my credit usage vs available credit changed a lot.

 

[Nick87]

Mine went down tons during Covid because one of my bank cards that had a $4500 limit got cut to $500. I don't think I even had a balance on it at the time but it plummeted my credit score because my credit usage vs available credit changed a lot.

That sucks good credit is good to have whether you plan to use it or not.

 

[geetar]

That sucks good credit is good to have whether you plan to use it or not.

I've got it back up now to nearly 800 but yet it sucked back then when I wanted to buy a truck right after that and interest rate was high because of my lowered credit score. Maybe if I had skipped the hunting trips and ate beans and rice I would have paid cash for the truck.

 

[Nick87]

I've got it back up now to nearly 800 but yet it sucked back then when I wanted to buy a truck right after that and interest rate was high because of my lowered credit score. Maybe if I had skipped the hunting trips and ate beans and rice I would have paid cash for the truck.

I'm all about saving money but I'll work til I'm literally dead before I quit hunting or eat only beans and rice haha.

 

[geetar]

I'm all about saving money but I'll work til I'm literally dead before I quit hunting or eat only beans and rice haha.

Same!

 

[longbow51]

Red beans and rice are great!

 

[Nick87]

Red beans and rice are great!

Only if she's 5'3.

 

[gouch]

What is the goal, to maximize our wealth or enjoy our lives as much as possible? I am retired and doing OK financially but I would really like a little more financial security. If I had taken every penny I have spent on hunting and fishing in my life and invested it, or even stuffed it in my mattress, I would be a hell of a lot more secure right now.

But would it be worth it?

I think not.

 

[cgasner1]

You guys must really suck at hunting if all your eating is beans and rice.

 

[brymoore]

What is the goal, to maximize our wealth or enjoy our lives as much as possible? I am retired and doing OK financially but I would really like a little more financial security. If I had taken every penny I have spent on hunting and fishing in my life and invested it, or even stuffed it in my mattress, I would be a hell of a lot more secure right now.

But would it be worth it?

I think not.

Having kids was the worst financial decision of my life. The cost to raise, support three kids and my wife being a stay at home mom cost more than I like to admit if I do the math.

I could have retired at 50.

The best decision of my life was a wife and family.

 

[Nick87]

Only if she's 5'3.

Come on, nobody? @AvidIndoorsman or @TOGIE will get get it. God I hope so, or I just made a dad joke.

 

[WildWill]

Having kids was the worst financial decision of my life. The cost to raise, support three kids and my wife being a stay at home mom cost more than I like to admit if I do the math.

I could have retired at 50.

The best decision of my life was a wife and family.

I only got the 2 but Amen brother!

 

[WildWill]

Come on, nobody?

I prefer um tall myself .

 

[Nick87]

I prefer um tall myself .

Yah me too...and my wife is 5'1

 

[longbow51]

I've posted this before, but I recalled it from an old magazine, Outdoor Life, etc. "We grew up a family of five in a house with one bathroom. We always saved money for a second bathroom, but when we got near to our goal, always spent the money on a hunting or fishing trip. Now that we are older, glad we don't look back and say, wow, we really had cool bathrooms".

 

[longbow51]

I prefer um tall myself .

Me too. 6' 2". A Booner.