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| What would you do with an extra $1000? | |
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| Tweet Topic Started: Feb 19 2013, 11:20 PM (1,957 Views) | |
| 98chevymetro | Feb 20 2013, 01:57 AM Post #16 |
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Also, if you're buying metals because you're worried the economy may collapse maybe you should be spending that money on guns, ammo, fresh water and food. These and animals which produce food are what is going to get you by in the world as it will be after collapse. People will go back to the barter system and trade goods and services, not precious metals or paper notes. Those things will be of no value in times like that. Sure they may regain vaule if the economy recovers but until that time they won't keep you warm or full or safe. |
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| 2000Firefly1.3L | Feb 20 2013, 02:12 AM Post #17 |
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use it as toilet paper |
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| mjspiess | Feb 20 2013, 02:18 AM Post #18 |
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We are on baby step 7. Dave Ramsey has an excellent approach to finances. I just sold an oz of silver on eBay for $37.97. I sold a 1969 US mint set if coins for $16 too. The half dollar is 40% silver. If you need money, sell silver on eBay. Any bonus checks or extra $ I earn, I just put it in our safe or a "secret" drawer in case I want to buy another Metro or something. There's$1,500 in there now. Just bought my wife a Nike fuel band for $125. She's been bugging me about one for a couple weeks now. I will be buying an OEM catback for the Metro soon along with a 2.5" catback for my Probe. |
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| Horn | Feb 20 2013, 02:20 AM Post #19 |
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Wes, why wouldn't you just buy more tickets. You will make more than silver. Not a precious metals guy. I agree 100% with 98 metro.....I actually said the exact same thing.....except for the dave ramsey part. I don't watch or listen to any of the financial "experts" since that is what I'm going to school for. I would say that if you want to invest the $1000 and make some quick money, stick with what you know. Thats why if I were to "invest" it would be in used cars. (buying, fixing, reselling). The market is high for used cars that can get you from point a to b. I would maybe short sell some stock companies too. I tend to do better with short selling than traditional investing. |
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| Horn | Feb 20 2013, 02:21 AM Post #20 |
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Dont lie MJ, you used her money to buy it. lol |
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| HelterSkelter | Feb 20 2013, 02:22 AM Post #21 |
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#1 Pizza Driver
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you should use credit cards with the idea that you will pay it off in full at the end of the month. i just see it as spending the money i am making before i make it. i did the same thing with my debit card before except i made the money first. also i've already heard the "what if a satellite falls from the sky and crushes your legs off and you can't work and no one can bail you out and blah blah blah blah" crap. if something so terrible happens that i can't pay off a credit card then the credit cards is gonna be among the last of my worries ![]() as for the thousand dollars, if i had to spend it i would buy a rollbar and racing seat with harness for my miata or a hardtop with headliner and defrost for my miata |
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| Horn | Feb 20 2013, 02:24 AM Post #22 |
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I would recommend young people using debit cards often before they use CCs. Some people live paycheck to paycheck, but most people that decide to live that way is by CHOICE. |
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| 98chevymetro | Feb 20 2013, 02:57 AM Post #23 |
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Flipping cars could be a good side job to earn extra income. I have one credit card and three other credit lines online. I plan to close them all. I got them to buy stuff I couldn't afford and to build credit because, as most Americans are, I was fooled into believing that one needs credit to get by in life. Now I've learned that's a load of bs and you can even get a mortgage with no credit And if you're buying something on credit it's because you can't afford it and thus don't really deserve it with the exception of a mortgage for two reasons. One being that you'd have to save up for half or more of your life to buy a home cash and the whole time be paying someone else's mortgage and because if you're smart a home purchase is an investment which can net you a hansom return. At first I was relatively responsible with my credit cards. I've never been late on them but I raised the limit from $500 to $5,000 and started going out wayyyy too muchast year and suddenly my $2,500 in savings turned into $0 and $3,500 in credit card debt! It happens faster than you realize. I've since quit using it and stopped going out so much. It's down to $3,100 right now with $1,200 in my savings. Time to gain control of my finances again and better than ever before. I have awesome credit but what good will it do me now that I won't be borrowing money anymore? Zip. No good at all. That's the whole point. If you only buy what you can actually afford there's no reason for credit scores. If I were all caught up and had my emergency fund and had an extra $1,00 to spend for fun...new video card for my gaming pc? Or rebuild my metro engine when it wears out or some nice tools or actually I'd save up another $500 or more and buy a nice ar15 or similar rifle. |
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| 98chevymetro | Feb 20 2013, 03:03 AM Post #24 |
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It's by choice but most of them it's all they've ever known. It's like the Indians on the res. they live in poverty and its disgusting the way most of them live and a use alcohol even though many make as much as $2,000/month from their tribes casino. It's their choice in a way but on the other hand they were brought up that way, never taught any different so I guess how can you expect them to change or want to change or mentally and emotionally realize and accept that life can be better than that which is so common on the res. I know plenty of them who's kids when they turn 18 will be receiving $200,000 or more and almost certainly will still live in poverty. It's sad. It without financial coaching or someone to show these kinds of people that they can do so much better for themselves they'll never change. |
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| Cobb | Feb 20 2013, 07:08 AM Post #25 |
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BANNED
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Nery has evil credit cards and the balance of his 2 is less than a thousand? Id check your tires and buy 2 if not 4, then put the rest away in savings. |
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| Memphis metro | Feb 20 2013, 07:23 AM Post #26 |
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Very
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| Scoobs | Feb 20 2013, 08:51 AM Post #27 |
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:D
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Its harder than you may think. Ive been doing it for a few years now Lol. |
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| Jonathan6229 | Feb 20 2013, 09:29 AM Post #28 |
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NICE WORK. I currently on baby step 2, but with a paid for house, so I should catch back up soon.I just got a bonus check, that is going to disappear by way of a Glock, and Xbox, and some parts for the wife's civic VX. |
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| Old Man | Feb 20 2013, 09:51 AM Post #29 |
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$1000 wouldn't go far when I start purchaseing gifts for 3 kids, 7 grandkids, and a spoiled great grand daughter. |
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| mjspiess | Feb 20 2013, 10:16 AM Post #30 |
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Thanks! We skipped baby step 5. No kids & no desire for kids. Baby step 6 is to pay off house early. We don't have a house, but have enough to pay cash for the house. It's not ideal since we're still renting, but the flexibility & lack of home maintenance/responsibility is worth it. So we're maxing out our 401ks now. I think DR is so against CC because people need a kick in the pants to make a lifestyle change. We have one CC & pay it off every month. But there has NEVER EVER been a single time where we used it for something we did not have the money for. And no, we don't use it to "build credit" because 98metro is right, you don't need credit if you have cash. We don't even really use it for the "points". 5/3 Bank has really gotten skimpy with their whole point system. We use it so we don't accidentally over draw our checking account & get hit with a fee. Horn, I repair all kinds of iPods, iPhones, iPads, etc. on the side. Last month I made an extra $513 & this month I'm at $225. It was "my" money Even though our money is together. Oh how nice it is to have a sugar mama!
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NICE WORK. I currently on baby step 2, but with a paid for house, so I should catch back up soon.
Even though our money is together. Oh how nice it is to have a sugar mama!

9:21 AM Jul 11