So who carries debt? - Page 3 - Miata Turbo Forum - Boost cars, acquire cats.

Welcome to Miataturbo.net   Members
 


Insert BS here A place to discuss anything you want

Reply
 
 
 
LinkBack Thread Tools Search this Thread
Old 08-29-2007, 12:57 PM   #41
Elite Member
 
Philip's Avatar
 
Join Date: Dec 2004
Posts: 3,270
Total Cats: -4
Default

health care in canada ******* blows. I know this because I deal with it on a daily basis
Philip is offline   Reply With Quote
Old 08-29-2007, 01:00 PM   #42
Elite Member
 
Join Date: Jan 2005
Location: vancouver canada
Posts: 1,618
Total Cats: 0
Default

Quote:
Originally Posted by Philip View Post
health care in canada ******* blows. I know this because I deal with it on a daily basis

YUP!

It's not as great as people say it is.
spike is offline   Reply With Quote
Old 08-29-2007, 01:14 PM   #43
Elite Member
iTrader: (12)
 
Join Date: Aug 2006
Location: Central-ish VA
Posts: 4,449
Total Cats: 16
Default

I carry all my debt in this

It even has Ipod controls!
neogenesis2004 is offline   Reply With Quote
Old 08-29-2007, 01:15 PM   #44
Elite Member
iTrader: (6)
 
Loki047's Avatar
 
Join Date: Sep 2005
Location: Chicago
Posts: 4,145
Total Cats: 0
Default

whats better a 10 dollar steak or a free mcdonalds hamburger after it makes it way through government channels?
Loki047 is offline   Reply With Quote
Old 08-29-2007, 01:20 PM   #45
Elite Member
 
Philip's Avatar
 
Join Date: Dec 2004
Posts: 3,270
Total Cats: -4
Default

Quote:
Originally Posted by Loki047 View Post
whats better a 10 dollar steak or a free mcdonalds hamburger after it makes it way through government channels?
not even in the same ballpark with that analogy
Philip is offline   Reply With Quote
Old 08-29-2007, 01:25 PM   #46
Elite Member
iTrader: (6)
 
Loki047's Avatar
 
Join Date: Sep 2005
Location: Chicago
Posts: 4,145
Total Cats: 0
Default

Quote:
Originally Posted by Philip View Post
not even in the same ballpark with that analogy
100 steak?
Loki047 is offline   Reply With Quote
Old 08-29-2007, 01:29 PM   #47
Elite Member
 
Philip's Avatar
 
Join Date: Dec 2004
Posts: 3,270
Total Cats: -4
Default

Quote:
Originally Posted by Loki047 View Post
100 steak?
it's more like who wants to pay for a big mac and wait 6 months to eat it. the canadian system is way under resourced.
look at hospital beds per capita in the US vs canada, it's like 10 times more
Philip is offline   Reply With Quote
Old 08-29-2007, 01:34 PM   #48
Elite Member
iTrader: (6)
 
Loki047's Avatar
 
Join Date: Sep 2005
Location: Chicago
Posts: 4,145
Total Cats: 0
Default

You actually made me choke on the water i was drinking. Thank you.
Loki047 is offline   Reply With Quote
Old 08-29-2007, 02:46 PM   #49
Elite Member
iTrader: (13)
 
Join Date: Nov 2006
Location: Tigard, Oregon
Posts: 3,908
Total Cats: 0
Default

Mortgage, cc's paid off regularly, car, building lease and business.

Mortgage is not a bad thing. Highly recommend owning a home. It's forced savings and generally a solid and smart investment. (It's also known as borrowing a house from a bank) All the goofy loans getting the country in trouble right now never should have happened. 100% loans, interest only, uncontrolled ARM's, bad evil stuff. Recipe for disaster.

CC's get a lot of people in trouble. Undisciplined spending get's you in trouble quick. Gotta be paying these off regularly. If you can't you shouldn't be using them. Done right they are a pretty good tool. I built a house on them once. Way cheaper than a construction loan. Applied for every low interest card that came in the mail. Paid them off with the mortgage at the end and it cost me almost nothing.

Car loans are dispicable. Hate them. Bad deal all the way around. Never borrow money on something that depreciates. The main reason people own expensive cars, they can't afford without a loan, is ego. The vast majority of people could get by perfectly well with a 15 year old toyota corrolla. The vast majority of people wouldn't be caught dead in a 15 year old corrolla. I could have bought a Boxster but realized an old Miata would pretty much do the job for me. $3500 instead of $35000. Ego is the only reason cars haven't gotten more effecient in the last 20 years. Every year the new models are bigger and more powerful than the last.

Business loans/ lease. AAAARGH. Everyone makes money off my business but me.
cueball1 is offline   Reply With Quote
Old 08-29-2007, 03:06 PM   #50
:(
Thread Starter
iTrader: (7)
 
Join Date: Jul 2006
Location: nowhere
Posts: 8,281
Total Cats: 2
Default

Quote:
Originally Posted by fmowry View Post
I guess there's one good thing about being old enough to father half of you guys.

I'll keep a mortgage as long as I live. No reason to pay a house off at todays rates. Just sold my Forester and that's the only payment I had aside from credit card bills that get paid off every month.

I'm married though so I'll always owe at least half of what I make.

Frank
You probably are old enough to be my dad but still. these current rates will not last and this housing bubble is gonna burst didnt you notice wht happened just last month when something liek 1/4 of the subprime market laons got called and the dow and eveyrthing else had a rather large correction. Until the government bailed them out, wich is BS. There is 3/4 of the market comming due in about 5 months Im gonna wait and see what happens then, should be interesting. But yeah why ever own something outright, makes no sense, when you die your kids can pay it off. That money you are throwing at interest, and the mandatory cost of insurance each year is not costing you btu what 2-3K$ not that you wouldn't ensure your place if it was paid for but still. I get scared when i think of that much overhead even if it is something steady and safe. I like to be able to have full control on my stuff. and not have to deal with others to sell or modify it, in any way shape or form.
magnamx-5 is offline   Reply With Quote
Old 08-29-2007, 03:11 PM   #51
Elite Member
iTrader: (12)
 
Join Date: Aug 2006
Location: Central-ish VA
Posts: 4,449
Total Cats: 16
Default

I'm sad, my joke was completely overlooked.
neogenesis2004 is offline   Reply With Quote
Old 08-29-2007, 03:15 PM   #52
:(
Thread Starter
iTrader: (7)
 
Join Date: Jul 2006
Location: nowhere
Posts: 8,281
Total Cats: 2
Default

Aperantly I am the bad guy guese i pissed of old Andrew. I wonder if he is gonna dog all my threads on M.net
magnamx-5 is offline   Reply With Quote
Old 08-29-2007, 03:15 PM   #53
Elite Member
iTrader: (13)
 
cjernigan's Avatar
 
Join Date: Oct 2006
Location: Atlanta, GA
Posts: 8,147
Total Cats: 6
Default

Quote:
Originally Posted by neogenesis2004 View Post
I carry all my debt in this

It even has Ipod controls!
My metallurgy teacher talked about that backpack in lecture yesterday. Saying that back in the day backpacks were just a convenient way to carry books costing no more than $50 tops. She was agast that backbacks are now hundreds of dollars and people seem to think they define "who they are."

Student loans have to suck. I actually wanted to get a stafford loan or whatever they are that have 0% interest till you graduate just so i could put it in a CD or something like that till i graduated and had to pay the money back. My fafsa wouldn't qualify me for one though.
cjernigan is offline   Reply With Quote
Old 08-29-2007, 03:17 PM   #54
Elite Member
 
Philip's Avatar
 
Join Date: Dec 2004
Posts: 3,270
Total Cats: -4
Default

Quote:
Originally Posted by magnamx-5 View Post
Aperantly I am the bad guy guese i pissed of old Andrew. I wonder if he is gonna dog all my threads on M.net
not my problem
Philip is offline   Reply With Quote
Old 08-29-2007, 03:40 PM   #55
Elite Member
iTrader: (14)
 
Join Date: Mar 2006
Location: Edmonton, AB
Posts: 4,921
Total Cats: 0
Default

Quote:
Originally Posted by magnamx-5 View Post
You probably are old enough to be my dad but still. these current rates will not last and this housing bubble is gonna burst didnt you notice wht happened just last month when something liek 1/4 of the subprime market laons got called and the dow and eveyrthing else had a rather large correction. Until the government bailed them out, wich is BS. There is 3/4 of the market comming due in about 5 months Im gonna wait and see what happens then, should be interesting. But yeah why ever own something outright, makes no sense, when you die your kids can pay it off. That money you are throwing at interest, and the mandatory cost of insurance each year is not costing you btu what 2-3K$ not that you wouldn't ensure your place if it was paid for but still. I get scared when i think of that much overhead even if it is something steady and safe. I like to be able to have full control on my stuff. and not have to deal with others to sell or modify it, in any way shape or form.
So where do you keep all your money? In your mattress?

The trick when buying a house it to buy WELL with your means. Don't buy what the bank will finance you, but what you can easily afford. Because you are right, the interest rates will change over the life of your mortgage term. You need to be able to ride out the low points.

My plan is to keep upgrading my home until I get near retiring. Then sell it all off and buy smaller or rent. That an my pension will afford me a decent living.
jayc72 is offline   Reply With Quote
Old 08-29-2007, 03:42 PM   #56
Elite Member
iTrader: (14)
 
Join Date: Mar 2006
Location: Edmonton, AB
Posts: 4,921
Total Cats: 0
Default

Quote:
Originally Posted by Philip View Post
it's more like who wants to pay for a big mac and wait 6 months to eat it. the canadian system is way under resourced.
look at hospital beds per capita in the US vs canada, it's like 10 times more
And how many below the poverty line get A+ service? The good and bad here is that everyone is equal. Great if you have no money, not as good if you do.

I don't know, I've live with the system for 35 years and it has served me well.
jayc72 is offline   Reply With Quote
Old 08-29-2007, 03:43 PM   #57
Elite Member
iTrader: (13)
 
cjernigan's Avatar
 
Join Date: Oct 2006
Location: Atlanta, GA
Posts: 8,147
Total Cats: 6
Default

I keep my money in moneymarkets, mutual funds, savings crap like that. I recently put somein paypal and activated the money market feature to try out the 5.04% return they offer on your balance now.
cjernigan is offline   Reply With Quote
Old 08-29-2007, 03:46 PM   #58
Ben
Supporting Vendor
iTrader: (33)
 
Ben's Avatar
 
Join Date: Jul 2006
Location: atlanta-ish
Posts: 12,689
Total Cats: 99
Default

Yeah rates change.... So what. Get a FIXED interest loan, then you don't have to worry about that.

Also, like everything else, the money is made in the buy, not in the sale. Buy smartly. New homes are typically better deals than used homes. But there are exceptions--like my house, I bought it before it was forclosed, got it for the mortgage payoff, $156k. Appraised at $205k. It was the least expensive house in the least expensive neighborhood in the area. A comp house to mine in my n'hood, but with a basement, just went for $260k. The surrounding n'hoods start at 500k, but most houses are 700k or so now, a few around 1M. I renovated the **** out of my house (flooring, granite counters, ss appliances, light fixtures, plumbing fixtures, master bath, and all sorts of ****). A friend of mine is a superintendant for a custom home builder, so we mostly used his contractors (and I got his prices) and he supervised for me. Haven't had it reappraised, but am expecting that the nearly $20k I put into the house did well for me.
Ben is offline   Reply With Quote
Old 08-29-2007, 03:47 PM   #59
Elite Member
iTrader: (8)
 
Join Date: Sep 2006
Location: Severn, MD
Posts: 1,927
Total Cats: 5
Default

Quote:
Originally Posted by magnamx-5 View Post
You probably are old enough to be my dad but still. these current rates will not last and this housing bubble is gonna burst didnt you notice wht happened just last month when something liek 1/4 of the subprime market laons got called and the dow and eveyrthing else had a rather large correction. Until the government bailed them out, wich is BS. There is 3/4 of the market comming due in about 5 months Im gonna wait and see what happens then, should be interesting. But yeah why ever own something outright, makes no sense, when you die your kids can pay it off. That money you are throwing at interest, and the mandatory cost of insurance each year is not costing you btu what 2-3K$ not that you wouldn't ensure your place if it was paid for but still. I get scared when i think of that much overhead even if it is something steady and safe. I like to be able to have full control on my stuff. and not have to deal with others to sell or modify it, in any way shape or form.
I'm not talking about the real estate fly by night prospectors who went major in debt getting interest only loans assuming the housing bubble would never burst or even level out. I'm talking about carrying a standard 30 year mortgage. My money is building a lot better in an SP index fund that and other index funds it would be paying down a measly sub %5 mortgage. Hell, I get more interest from an online savings account than I do paying down that mortgage.

For you homeowners or potential homeowners out there. A good read:

http://www.ricedelman.com/planning/home/BLTmortgage.asp

Frank
fmowry is offline   Reply With Quote
Old 08-29-2007, 03:55 PM   #60
Elite Member
 
Philip's Avatar
 
Join Date: Dec 2004
Posts: 3,270
Total Cats: -4
Default

Quote:
Originally Posted by jayc72 View Post
And how many below the poverty line get A+ service? The good and bad here is that everyone is equal. Great if you have no money, not as good if you do.

I don't know, I've live with the system for 35 years and it has served me well.
that's great but I'll take the highs and lows over mediocre **** for everyone
Philip is offline   Reply With Quote
 
 
Reply

Related Topics
Thread Thread Starter Forum Replies Last Post
Back to Stock Part Out!! Turbo Parts, MS2 Enhanced 01-05, Suspension, and MOAR! StratoBlue1109 Miata parts for sale/trade 16 10-02-2015 10:39 AM
Miata Newbie hdizzle Meet and Greet 8 09-21-2015 11:08 AM
THIS JUST IN: Government intervention is FTL Braineack Insert BS here 26 11-12-2008 09:25 PM
Anyone heading to NorCal from San Antonio area? macker Insert BS here 0 11-08-2008 10:45 PM
hear ye, hear ye...mine credit card debt hath been cast into oblivion hustler Insert BS here 7 01-26-2007 05:50 PM


Thread Tools Search this Thread
Search this Thread:

Advanced Search

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off



All times are GMT -4. The time now is 02:38 AM.