Not sure debt free is a good thing !

Discussion in 'Bad Dog Cafe' started by 83siennateleguy, Aug 13, 2018.

  1. tapollok

    tapollok Tele-Holic

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    [QUOTE="Toto'sDad, post: 8546648, member: 69567"I should maybe take advantage of that and buy me a new car, and see if I could manage to go ahead and drop dead on 'em before I paid it off and complicate the shilt out of things![/QUOTE]

    I seem to sense a lot of "stickin' it to the MAN"...or "avoid gettin' stuck by him" the responses of those here who eschew borrowing money.

    I don't understand those who work so hard to avoid benefits...and spend so much energy trying to defend their position...something about a NOSE, a FACE, & SPITE.:(

    I LIVE on American Express. One personal card, one corporate card...and two of my employees have cards on our corporate account. I have no other credit card.
    I rarely carry cash...usually enough for tips.
    Gas, groceries, wine, electric bill, health insurance, Starbucks even my quarterly taxes...
    ...a dollar or a thousand...it gets charged on the personal account.

    EVERY expense my company incurs is charged on the corporate card.
    When I switched suppliers for our major raw materials 2 years ago, I told them they would have to accept Amex or I wouldn't do business.
    We buy $20-25K every month. It took them about a day to get set up. ;)

    Amex stopped charging us an annual fee around 1990.
    The benefits I reap from those two cards are astounding ( I know our situation is different from most)
    ...but they're paid for by those who paid the fees and carry a balance.

    There is a big difference between debt-free...and credit-free.
     
  2. Toto'sDad

    Toto'sDad Telefied Ad Free Member

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    I seem to sense a lot of "stickin' it to the MAN"...or "avoid gettin' stuck by him" the responses of those here who eschew borrowing money.

    I don't understand those who work so hard to avoid benefits...and spend so much energy trying to defend their position...something about a NOSE, a FACE, & SPITE.:(

    I LIVE on American Express. One personal card, one corporate card...and two of my employees have cards on our corporate account. I have no other credit card.
    I rarely carry cash...usually enough for tips.
    Gas, groceries, wine, electric bill, health insurance, Starbucks even my quarterly taxes...
    ...a dollar or a thousand...it gets charged on the personal account.

    EVERY expense my company incurs is charged on the corporate card.
    When I switched suppliers for our major raw materials 2 years ago, I told them they would have to accept Amex or I wouldn't do business.
    We buy $20-25K every month. It took them about a day to get set up. ;)

    Amex stopped charging us an annual fee around 1990.
    The benefits I reap from those two cards are astounding ( I know our situation is different from most)
    ...but they're paid for by those who paid the fees and carry a balance.

    There is a big difference between debt-free...and credit-free.[/QUOTE]

    Okay, fair enough. You haven't been around here long enough to know that me and old William Tele just go back and forth about stuff all of the time. I'm seldom serious about much of anything. I actually have no intention of buying a car on the credit, or anything else for that matter. I do occasionally put things on a credit card, but as stated pay it off as soon as it's due.

    I don't like credit on principal, period. I don't like owing anyone anything. There is no intent to defraud anyone in having that philosophy. I don't like lending anything either. I'm just a taddy bit like Mr. Scrooge, when asked what he wished, and he responded I wish to be left alone.
     
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  3. william tele

    william tele Doctor of Teleocity Ad Free Member

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    Tom's been around and he's a good one. I think maybe he was talking more about the folks that were referring to banks and credit institutions with disdain...but just happened to catch your post on the tail end!:)
     
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  4. tapollok

    tapollok Tele-Holic

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    Toto'sDad - Sorry, your humor oozed thru your post...I should have acknowledged that...I did get it.
    I only chose that snippet of your post 'cause it so perfectly illustrated my "MAN" point.

    And, you're right...I don't come around much...and almost never to BadDog.

    This thread popped up timely...for better or worse. I had several go-rounds with my wife's sisters who came into town Thurs and just left this morning.
    None of them are doing well financially, and they blame everything but themselves.
    There was no point in carrying on trying to offer them my opinion.

    So, off I went to be alone and enjoy some time on TDPRI....and this thread popped up. Nice.
     
    Last edited: Aug 14, 2018
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  5. Whatizitman

    Whatizitman Friend of Leo's

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    Never engage crazy.

    I recently met some guy who said to me he's been wanting to see a psychiatrist for years, but never does. When I asked him why not, he responded that its because he's angry that the prior president will take his guns away.

    There's a time to give your opinion. And there's a time to just smile and nod.

    Never. Engage. Crazy.
     
  6. magicfingers99

    magicfingers99 Friend of Leo's

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    attacking my argument is calling it and i quote " a claptrap of nonsense"
    this is not pointing out fallacies it is attacking the argument without facts. Its what we in the trade call an "opinion" everyone is entitled to one, but it rarely adds much to understanding.

    now I'm not exactly a financial neophyte. So I understand that most people don't understand finance, or business, or marketing. They mostly simmer in it all day and don't even notice. I'm not saying you do, I'm saying most people. That is why I use the very simple example of the buy 3 get 1 free scenario to point out the flaws in an equation that is simply not true. There is no free sweater.

    There are no free points. (that is the premise I'm trying to explain) banks do not give away free toasters, free checks or free points. Some way, some how, someone is going to pay for those free points. It might be the vendor selling the goods or service, it might be the buyer, or it might be a 3rd party, but someone is paying.

    The buyer only see one side of the transaction. The finanical system obfuscates how it works by design, to make it easier to take advantage of all parties involved. Like poker, if you don't know who the sucker is, its probably you.

    There is a website on the internet, where you can post your personal information for free, called facebook, somehow they manage to monetize you personal information, in exchage for you freely telling them all about what you like, who your friends are and everything else that you might want to let the world know. Its free, but its not really free if you understand what they are doing.


    I'm sure the banks are doing the same thing with all the information they accrue on your purchasing habits, spending amounts and any other data they can mine and cross-index and resell.
    So it may not seem like you are paying anything for those points or rebates, but you may in fact be paying with something other than your money.

    The whole points/rebates/money back idea is to provide positive feedback on purchasing - an incentive to get you to spend more, because the more you spend, the more you make. (that may not be mathematically true, but just because they are lying to you doesn't mean you can't trust them, or does it?) It is indeed a carrot dangling in front of you, trying to convince you not to spend cash or a check or any other payment method than their credit card - cause they get a merchant fee, and interest on unpaid balances and penalties, and get to resell your data, so as you can see they have a lot invested in convincing you to use the card.

    I use a credit card, I've had them forty years. I don't carry a balance. I don't look at them as a magic box that gives me free money and points.
    I see them as a necessary evil, and useful when used discerningly and deadly when used with abandon.

    Most in our society are not financially savvy nor educated in how to understand, they are educated to beleive, and are constantly told how to beleive by walls of advertising.

    So in summation, I'm not certain it is a good financial idea to buy stuff to get points/dollars/rebates. I feel I'm better off spending less and finding good prices on the things I want or need by shopping around, for until rebates become 101% or more of the purchase price, I'm not really making out, they are just giving me back some of what i spent, and If I didn't spend it, I would have 100% of my money instead of 2% of my money.

    we live in an economy based on fallacies of endless growth, in a finite world, eventually all resources are consumed. The constant pitch of buy,buy buy, is an attempt to keep that system intact and its particpants blind to the fallacy until it collapses, what is known as bindsiding one.

    If you knew that every free dollar you got back, was taken from someone starving in the 3rd world, would you feel any differently about accruing large numbers of points? Consider gloabl banking and who subsidize it...
     
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  7. tapollok

    tapollok Tele-Holic

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    ??

    Is he really OLD?

    I've had some interaction with him over the years....I took him for a younger fella.

    William?!?
     
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  8. Sanity Inn

    Sanity Inn Tele-Meister

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    an interesting 30 minutes of your time.

     
  9. william tele

    william tele Doctor of Teleocity Ad Free Member

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    Oh HELL no I'm not old. 63 is the new 54...so we're just about even!:lol:
     
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  10. william tele

    william tele Doctor of Teleocity Ad Free Member

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    Hey, magicfingers...what do say we not talk about finance ever again?:D

    I apologize for things I said that we're insulting. I don't have any need to be a dick. Sorry...:oops:
     
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  11. NashvilleDeluxe

    NashvilleDeluxe Tele-Holic

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    If you’re getting 2% financing on a car, you’re buying a new car, which means you didn’t learn much from the getting debt free discipline in the first place.

    In effective interest, you are paying 25% because you care what your neighbour sees you driving.
     
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  12. william tele

    william tele Doctor of Teleocity Ad Free Member

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    All my neighbors see me driving is my 20 year old honda riding lawn mower I use to mow five of their lawns every week. Some of us don't need Dave Ramsey to pull our ass out of the fire...
     
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  13. tapollok

    tapollok Tele-Holic

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    Perhaps, but I am a bodybuilder. :lol:

    For some reason, I took you to be my age or younger base on some of our chats.

    Hell, my wife of 30 years is 64!
     
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  14. william tele

    william tele Doctor of Teleocity Ad Free Member

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    Yeah, I get that a lot. It's immaturity!...and for the record, my honey turns 70 next year and she's holding up pretty dang well. She got carded till she was probably 40...:)
     
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  15. Toto'sDad

    Toto'sDad Telefied Ad Free Member

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    Tapollok,

    My face is red! :oops::oops::oops: I looked at your number of posts, when I should have looked at your join date. You've been here longer than I have, so I guess the cheese was talking to the mouse! I have of course used credit over the years myself, and am glad that at least for the present that I don't have to. I'm almost reluctant to say that you can have a good credit score and not use credit, or at least not use it unwisely.
     
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  16. Toto'sDad

    Toto'sDad Telefied Ad Free Member

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    Mr. Tele, I made sure and posted an apologetic post to Mr. Tapollok, before responding to yours. On the subject of women, since I myself do not restrict myself to one woman but rather a huge harem of them. What's that Toto, uh mommas coming, I guess we better switch back over to the golf channel.
     
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  17. blowtorch

    blowtorch Telefied Ad Free Member

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    I will never live on credit. It just runs against pretty much everything I believe in.
    If that makes me a sucker, or simple, to some perspectives, so be it.

    I like things simple.
     
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  18. Toto'sDad

    Toto'sDad Telefied Ad Free Member

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    Nah, he's just a kid. Then again I was over at the golf course talking to a couple of kids today. When I told my wife about it, she said how old were the kids? I told her they were 63 and 67! She said, oh they were just kids.
     
    Last edited: Aug 14, 2018
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  19. william tele

    william tele Doctor of Teleocity Ad Free Member

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    I think TD is living proof that age is just a number. I don't recall EVER being as sharp as you are NOW...:)
     
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  20. tapollok

    tapollok Tele-Holic

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    I hope it's because you're drinking wine :D

    I wasn't deriding you for your post...it was very witty....the words just jibed with my point and I snagged 'em.
    Useful but selfish...kinda like the way I use credit:D

    I also am aware you are a respected elder sage here.

    This place needs that.

    So I hope you DO finance a new corvette and live to put
    "Antique" plates on her.:)
     
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