Is everybody here rich?

Also a male prostitute ^ that is how he gets his SUA and his fancy shocks.



JK

 

I thought that was already publicly known?

 

Nope I just spilled the beans ....sorry

 

I'm going to disagree with this. The whole reason for auto insurance is to cover you in case something happens to your car. As long as you have complete coverage, the insurance company will give you a check to buy a new car. I totaled my first car and I learned the process.

I do agree with part of your second point. Savings is vital to cover unexpected expenses and if you cant afford them, then you can use a CC to cover the rest. It is always a good idea to have an available high limit CC for emergencies. Missing a few payments on your auto loan does not kill your credit. It will drop it but its no the end of the world. (I am a credit analyst and I know a few things about this.)

I can't stress enough how important it is to live within your means but you should have debt. How else would you build or repair credit? Responsible debt is a good thing and will take a 730 credit score to 800.

I'm sure many of the people on here have auto interest rates of around 3% and the market is returning around 8% (if you invest wisely) so why would you not allow some debt to gain profits on the 5% gap? Leverage is a tried and true method to have greater returns on your investments as long as you do it wisely. Yes, I know it is not this black and white but that is the basic idea.

To answer OP's question- I'm not rich but I do alright. I work hard and try to put a large portion of every check away into investments and savings. I'm still young and dumb and enjoy going out and spending money at bars while trying to convince every attractive girl to sleep with me. I should have my truck paid off within the next 6 months and then I will start on the mods.

 

I manage my money wisely.

 

I work 2 jobs ,1 full time and 1 part time, wife works 3 days a week (she makes awesome money) we don't finance any toys , we want something save until we pay it off,most of time we change our minds ,I look for used items, might have wait awhile but someone who has spent too much and needs the money will always be a good deal. The only thing new on my truck is my Flyeze leds, tires ,and lift, everything else is used including the truck

 

I agree

I disagree

Pay your bills. And on time.

 

Nope, I bought every last thing for my truck- including the truck itself! Did the full motor rebuild without my pops laying a hand on it- with my best friend, of course. Insurance is in my name, title, everything! I work for everything I have. No freebies from Mom and Pops. Too poor for that.
I worked construction when I first bought my truck, threw a newspaper route at night, and did scrap metal in my spare time. Since I lost my job, I'm still doing scrap and the newspaper, but I'm mowing lawns and doing odd jobs for my main income. Doing good with it, too- making more money than I did when I worked as a construction laborer.
I haven't asked for money from my parents since I was a kid- not that they ever gave me any. If anything, I pay stuff for my parents these days- when the water heater busted, I threw up the $800 dollars and installed it. They can't pay a bill? I pay it. If anything, I'm paying for my dad to keep his evil Silver Slug (that's what I call his van, a 97 Caravan) on the road, because it keeps breaking down. I buy the parts, and I paid his last ticket.
So nope, it's not Mommy and Daddy's money, and I'm not rich. But I done it.