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So, Dave Ramsey....on car buying....

UDRider said:
I wonder how much this matters at certain point. Beyond having rainy day fund in bank account, which what this graph says it represents, rest usually goes in to investment. So this might not represent total savings at certain point.
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Agreed but if you’re selling securities to buy a mattress, you’ve got different financial problems.

Edit: I say this but I day trade to subsidize my income so at times I do actually sell securities to buy things.
 
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Kornholio said:
Then don't post about it. :dunno
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I was suggesting something different here. Not mimicking the policy of another country. The point of the examples is that these things are not unheard of, and that they clearly do work. No one suggested we should use the policy of any of the multiple other examples given.

Even in the statement I made, I gave multiple examples and you just chose one to pick on. That seems to suggest you are just intentionally being difficult and not trying to actually discuss the suggestion.

:dunno
 
Blankpage said:
15% per year for ten years... I’ll take that and retire today
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Yeah, where was that bullshit mentioned in-thread? Seems the R factor wasn't added into the mix...
 
JesasaurusRex said:
i'd hate to have a mattress payment
not even pretending not to bust Robs balls anymore (he knows i love him) but we're not seriously going to have the discussion that financing a mattress, even at 0%, is sound financial advice
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If I can get 0% on just about anything, I’ll take the debt. Gimme 90 days same as cash on a dinner at Applebee’s? I’ll fill out the credit app.

I think guys like Dave are the kind who wanna pay cash for everything even though you leave money on the table by not using credit cards that have reward programs.









Pssssh. Like I’d actually dine at Applebee’s. I’m way too bourgeois for that. 0% at Mortons Steakhouse though? I’d do it.
 
Blankpage said:
Obviously that mattress includes massage with happy ending. Dudes not totally irresponsible with his money.
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You really should look at that “post a pic of your latest purchase” thread. I buy a lot of dumb shit. Dave would be a saaaaad panda.

But yeah the mattress haz teh magic fingers. Don’t even have to put quarters in. So....worth it.
 
JesasaurusRex said:
i'd hate to have a mattress payment
not even pretending not to bust Robs balls anymore (he knows i love him) but we're not seriously going to have the discussion that financing a mattress, even at 0%, is sound financial advice
Click to expand...

I often opt for 0% financing programs even if I have the cash. Money could see some nice returns in other places. It's free money at 0%
 
TheRobSJ said:
If I can get 0% on just about anything, I’ll take the debt. Gimme 90 days same as cash on a dinner at Applebee’s? I’ll fill out the credit app.

I think guys like Dave are the kind who wanna pay cash for everything even though you leave money on the table by not using credit cards that have reward programs.

Pssssh. Like I’d actually dine at Applebee’s. I’m way too bourgeois for that. 0% at Mortons Steakhouse though? I’d do it.
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I run everything through a credit card for the rewards but I don’t put anything on the card I don’t already have cash in hand for. That sucker gets paid off every month. :shhh
 
If you have a 0% loan, you probably are paying interest built into the price of the good. Look for the cash discount offer. It's just making the fat bankers fatter.

The company selling the car is not charity and they can put their money in the market too.

This is probably another reason why cars depreciate so fast. They were never worth that much in the first place.


https://www.youtube.com/watch?v=KGPu0jPryfU
 
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wazzuFreddo said:
I run everything through a credit card for the rewards but I don’t put anything on the card I don’t already have cash in hand for. That sucker gets paid off every month. :shhh
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Credit card rewards are just increasing the cost of goods sold. Its not really a reward, you already paid for it.
 
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Killroy1999 said:
If you have a 0% loan, you probably are paying interest built into the price of the good. Look for the cash discount offer. It's just making the fat bankers fatter.

The company selling the car is not charity and they can put their money in the market too.

This is probably another reason why cars depreciate so fast. They were never worth that much in the first place.


https://www.youtube.com/watch?v=KGPu0jPryfU
Click to expand...


Right
So the average consumer will pay more for something when the cost to borrow money is cheap. So yes, your 10,000 mattress can be had now for 0 down and paid in full in 2030 for 10,000 (inflation adjusted). It's still a $10,000 mattress though.

Iirc Dave's reasoning for the pay cash is the mental resistance to overpaying for something is much stronger with cash. Imagine taking out 10k from the atm and going into a mattress place and doing that transaction lol. With cash you're actually handing something over and receiving something in return. With a card you have them a card and they hand you the card and the item back. Hell most places the card doesn't even leave your hand anymore. Obviously we're past math here and into psychology but the end result is you with less money.

Yes I use credit cards, yes I agree with Dave's assessment that they're in general a bad idea.

If I wanted a 10k mattress I'd have bought it with a card, got my 2-5% , and paid the card off immediately. The problem is still that I paid 10k for a mattress.
 
You were better offer buying a $500 mattress and putting the other $9,500 into a fund with 8%. Then years later, you can enjoy that $10k mattress when you are barely able to get out of bed.
Younger self, $500 bed = get off as quickly as possible because it sucks.
Much older self, $10k bed = enjoy for hours because you can't get out of bed without help
 
In all seriousness I've actually slept on a cot, as a civilian, for a year or so at one point in time.

People need to figure out what their goals are before trying to find a way to accomplish them, imo.
 
Who says you lazy assholes can sleep? My financial guy says you can't sleep until you have made your first $500K and are no longer are paying rent. Slackers. :x
 
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