so im hooked on this book.

tomoyasu · Post by **tomoyasu** » January 11, 2008

luckily i didnt need a book for this, my parents told me the same thing

miyagi · Post by **miyagi** » January 12, 2008

i'm in the process of getting out of debt myself ... should be debt free by march/april.

I do basically what nikku was saying.

I never carry my credit cards with me, or even a debit card for that matter ... and really only take as much cash with me that i'll need for the day.

This keeps me from impulse buying, because even though i can afford to buy really whatever i want, i can't because i don't carry enough money.

I also keep myself away from eating fast food, etc because 5 bucks here and there really adds up. I also keep all my one dollar bills in a jar, and occasionally drop a 5 or 10 in there. It was originally my strip club money, but kind of just drifted to being extra cash. Once over 2-3 months i'll count up all my ones, and all my loose change and cash out. Usually ends up being a couple hundred bucks, and i'll either save it or buy myself something with that money.

My credit card debt accumulated from blowing up 2 built motors, and upgrading things each time... and since it was my only car, i had to use the CC to get it running quickly... i'm still paying for it and don't even have the car anymore.

Besides ... ballers use cash only.

miyagi · Post by **miyagi** » January 12, 2008

i also fucked myself when i turned 18 by getting a super high interest loan because i needed cash ASAP. I was lucky enough to get that switched over to a loan from my bank, and it went from ~25% to 8%, but that wasn't until i was almost 21... so i lost a lot of cash in that period of time.

i definately won't let myself dig that hole again, but for being as young as I am, my credit score will be super high which will be nice when i go to buy a house.

YouTube · Post by **.saint** » January 12, 2008

as a matter of fact. credit score is a joke, you dont need a credit score to buy a house. its just put in our minds that you do. there is a few rates out there that wont even look at your credit score. ill flip back throught this book and post what one dave talks about.

YouTube · Post by **.saint** » January 12, 2008

oh yeah also after looking back though this thread im not trying to be a financial teacher at all im just pulling the facts and figures and text from this book. im just so pumped up about what dave has to say in this book i want to let everyone know about it. its awesome.

miyagi · Post by **miyagi** » January 12, 2008

well i didn't mean just house ... basically anything that's NEEDED. A house is just on my mind a lot lately.

Buy i just mean that if i ever need to get a loan for something for an emergency or whatever, and that a high credit score is required, it won't be a problem.

YouTube · Post by **.saint** » January 12, 2008

worddddd.

tomoyasu · Post by **tomoyasu** » January 12, 2008

yeah, the only thing im in debt for is just my car payment..and i hope to keep it that way.

Post by **Nikku** » January 12, 2008

miyagi wrote:i also fucked myself when i turned 18 by getting a super high interest loan because i needed cash ASAP. I was lucky enough to get that switched over to a loan from my bank, and it went from ~25% to 8%, but that wasn't until i was almost 21... so i lost a lot of cash in that period of time.

i definately won't let myself dig that hole again, but for being as young as I am, my credit score will be super high which will be nice when i go to buy a house.

25%

. wow.

Post by **Nikku** » January 12, 2008

tomoyasu wrote:yeah, the only thing im in debt for is just my car payment..and i hope to keep it that way.

in my eyes i dont consider a car a debt. here is my logic about it,

in america, in most cities a car is a necessary item, public transportation in america just isnt nearly as good as it is in most other countries. since the car is a necessity (like a house), i personally consider a car payment an expense. yes you are indebted to someone for the value of the car, but if you didnt have the car you couldnt get to your job easily, etc.

thats my take on it