Lifestyle > Train of Thought
Do you all fuck wit credit cards much?
J. B A N A N A S:
--- Quote from: Infinite African Westcoastin 2012 and 13' on August 19, 2013, 03:34:59 PM ---
--- Quote from: ♛ LORD BONANNO on August 19, 2013, 02:47:48 PM ---I have a couple, use them seldom but like to tow the line on a small balance just to beef up my credit score. Personally the idea of using credit to deem a persons trustworthiness in society when dealing with mortgages and car notes and such is dirty as fuck, but I play the game anyway and am using it to get a house so I'm not too bothered by it.
--- End quote ---
And what other method do you suggest? Should they just take your word for it?
--- End quote ---
I don't have to worry about another method, my credit is pretty decent. Don't try to get all conservative on me Brian you're not built for it.
Jack Trippa 3z company ho:
Having a credit line is important in case some shit pops off and you're in a pinch. People fuck up and think they got rich by getting a CC and that's when trouble starts. I get a discount at gas station and grocery stores so I use it for that but pay my balance every month. If you do it right, it's a good thing, of you have no discipline you'll be up shit creek real fast.
Teddy Roosevelt:
I don't have any credit cards yet. My credit score is too low to get one. However, I don't see credit as being necceasry unless you're buying a house, a car or starting your own business (and for emergencies, of course). Aside from that, I'd just use it to build up my credit score. Anything else you don't absolutely have to have and you can just save up for it.
heyyou:
--- Quote from: Infinite African Westcoastin 2012 and 13' on August 19, 2013, 02:31:47 PM ---
--- Quote from: heyyou on August 19, 2013, 01:20:53 PM ---
Wow, no offence but you really need to understand how this all works! You really need to brush up on some basics in financial intelligence, otherwise you will end up poor. Look up robert kyosaki' s rich dad, poor dad on YouTube, that will do you a world of good!
The credit card doesn't really provide any real money though, you do! You create the money (a promissory note) the moment you sign the c/c slip.
All the c/c company does is do a book keeping entry and charge you ridiculous interest for the money you created! The same goes for a majority of bank loans.
They are making money from you for nothing, while you become indebted to them. There will come a point that the majority of your repayments are interest, and you may never get out of the debt trap if you're not careful.
--- End quote ---
Rich Dad Poor Dad is bullshit...
...And thank you for explaining to me that "you create the money". Because I was actually thinking before talking to you that credit card companies just gave away money.
They are not making money from me "for nothing". If that was so, then why don't you loan me the money next time I'm broke? They are providing a valuable service for me that others are unwilling and incapable of providing to me. So why wouldn't they deserve a percentage for providing a valuable service to me that others are unwilling to provide?
--- End quote ---
What part of Rich dad, poor dad is bullshit? I thought it was very good at explaining the monetary system in a simple way.
I'd also recommend mike Maloney 'why gold and silver' which explains how banking and money works.
Like I said c/c companies don't loan you money, they merely do a book keeping entry and monetise your promissory note.
In fact I believe you can write your own promissory note (ie I promise to pay th bearer on demand £... ) and spend it or deposit it in your bank.
The only reason you can't do it yourself is people's confidence in you paying them back (breaking your promise). People trust the banks & c/c companies because of the assets they appear to have, giving the appearance of confidence of paying the creditor.
J. B A N A N A S:
--- Quote from: heyyou on August 20, 2013, 12:44:06 AM ---
--- Quote from: Infinite African Westcoastin 2012 and 13' on August 19, 2013, 02:31:47 PM ---
--- Quote from: heyyou on August 19, 2013, 01:20:53 PM ---
Wow, no offence but you really need to understand how this all works! You really need to brush up on some basics in financial intelligence, otherwise you will end up poor. Look up robert kyosaki' s rich dad, poor dad on YouTube, that will do you a world of good!
The credit card doesn't really provide any real money though, you do! You create the money (a promissory note) the moment you sign the c/c slip.
All the c/c company does is do a book keeping entry and charge you ridiculous interest for the money you created! The same goes for a majority of bank loans.
They are making money from you for nothing, while you become indebted to them. There will come a point that the majority of your repayments are interest, and you may never get out of the debt trap if you're not careful.
--- End quote ---
Rich Dad Poor Dad is bullshit...
...And thank you for explaining to me that "you create the money". Because I was actually thinking before talking to you that credit card companies just gave away money.
They are not making money from me "for nothing". If that was so, then why don't you loan me the money next time I'm broke? They are providing a valuable service for me that others are unwilling and incapable of providing to me. So why wouldn't they deserve a percentage for providing a valuable service to me that others are unwilling to provide?
--- End quote ---
What part of Rich dad, poor dad is bullshit?
--- End quote ---
It's bullshit in that it in no way offers advice on how to actually generate any money, just poo poos the working man as a sucker (which he is). It's easy to show someone how they are wrong, a lot harder to actually show them a better way. Kiyosaki also has no problem plugging his other book, tapes and lectures as though the real secret will be revealed within those.
That's my two cents though. Others might have other criticism.
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