^don't feel two bad, my wife and I owe about $250,000 in student loans for our three grad school degrees.

 

H O L Y  S M O K E S!   :-o And you've got a new house and babies.

 

"New house" is a relative term. It was constructed in 1870. :)

I meant the responsibility of paying for an maintaining your home is "new".   :wink:

Does anyone know if banks will do the following:

 

on a set date each month, transfer X dollars from checking into saving? I'd like to save a certain amount from each paycheck and I don't want to trust myself to do it.

 

I would recommend opening up an Orange Savings Account with ING.  ING is an internet bank (FDIC insured) that pays a really high rate of interest on thier savings account.  I think its paying a little over 4% right now...it fluctuated as the fed raises or lowers the rate.  They have an easy interface online to set automatic transfers from your normal checking account...in my case, Key.

 

The thing I really like about having the account with ING, is that its seperate from my Key accounts, so I really never think about it except when they send me a monthly email.  So I've been able to build up a nice rainy day fund that is truely out of sight, out of mind.  It pays good interest and is liquid.  Can't beat that.

 

I have often wondered about this.  My parents were both from extremely poor families and I grew up poor, albeit not nearly as poor as they did.  They started savings accounts for us when we were little and bought savings bonds with what they could (which my dad cashed when he was forced into early retirement before he died, thanks, dad).  They encouraged both me and my sister to do well in school and to go to college.  But in many ways, I consider both of us a failure and think that part of it is because they were never able to convey to us the importance of getting a good job and making a lot of money, because they never HAD good jobs or made a lot of money.  In fact, people who made a lot of money were assumed to be like the bosses they worked for - nasty, smug, the "evil rich" if you will. It's like they knew vaguely that going to college could make you better off, but that was it.  The lesson just never sunk in.  The only lesson I learned is "live for today" for tomorrow we may be unemployed, broke or dead.

 

I don't know about that.  My father grew up in Glenville (on ashbury)  and my mother right outside of San Juan.  My fathers family was middle class and My mothers family although, middle class, in PR, would have been considered poor here in the main land.

 

But both had a plan to do better.  I think it depends on the family and the situations.  I think most parents, like mine, want their kids to do better than them.

 

Obviously my quoting/cutting didn't work.  ARGH.  I will answer in italics.

 

Mine just didn't have the wherewithal to come up with a plan.  All they knew was the way we lived was bad and they wanted better for us, but there was no plan to get there.  It was just sort of this broad, "go to college, all will be fixed" thing.

Man toys? My dad will make random trips to Lowes' and just gaze and stare at power tools and plumbing. For me, it's cameras.

 

I with your dad.  I love my power tools!

 

Seicer: does your mom know about this?

^Or my recent trip to Home Depot with my dumbass boss who showed off all the junk he bought for his new house after telling me how he had to pay his last mortgage bill with his credit card.  One of this country's many people making $80,000 living paycheck to paycheck. 

 

 

You can use a credit card to pay your mortgage???  :wtf: :weird: :weird:

You can use a credit card to pay your mortgage???   :wtf: :weird: :weird:

 

Yeah apparently some families don't like the idea of ending up on the street.

 

Didn't read JMecks post first but I can see why some people would do that.

You can use a credit card to pay your mortgage???  :wtf: :weird: :weird:

 

But think of all the sky miles!

 

Food:

 

Costco for staples and consumables (bulk, baby); Marcs for produce and packaged goods; Giant Eagle (close by, fuel perks - $400 in "free" gas the last 12 months) for incidentals. I never EVER eat lunch out (except the first Saturday of the month, of course). As a family, we eat out maybe three times a month. Coffee? Brewed fresh every morning. Only weakness: the missus likes her red wine (I'm a beer guy, but will begrudgingly go without). Have considered going the Camelot Cellars route there; could probably cut that to $4 a bottle.

 

Transportation:

 

Two older cars, paid off. I wring 35MPG out of the Honda through a combination of driving habits and lots of highway miles. I also carpool when possible. The Volvo gets less desirable mileage due to its tonnage and the nature of the driving (lots of local stuff). Insurance through Costo, wicked cheap: about $600 annually.

 

Clothing:

 

Strictly TJ Maxx and Kohl's and occasionally the clearance rack at Target. 75% of what the kids wear is hand-me-downs, and I'm fine wearing anything without visible tears or stains.

 

Telecommunications:

 

VoIP phone, 2 years prepaid, avg monthly bill: $10. Skype for most trans-Atlantic long distance: free. Two cellphones with no bells and whistles: $110/mo. Cable internet only: $40. Goodbye Borders/Barnes&Noble/Netflix, Hello library: FREE. European Satellite TV (our one luxury): $28.

 

Housing:

 

Unsold house in Detroit, now a rental: $0 net cost. Rent in C-Bus: $1,000, awesome landlords.

 

Energy:

 

High-efficiency furnace, avg winter setting: 68-degrees. Summertime A/C, two hours a day, max. Bill: up and up, no matter what.

 

Credit Cards:

 

No fu*king way. I do rack up the National City Points with the debit card. That pays for about $400 in gas annually.

 

 

 

 

Yeah apparently some families don't like the idea of ending up on the street.

 

Didn't read JMecks post first but I can see why some people would do that.

 

I didn't mean it that way, I didn't know the option was available.  I'm a points hog, I need to see if i can do this.

Geez KOOW, that's really good!  Man if I could cut back on shopping, I could save thousands.

In lieu of actually sitting down and writing up a budget, I bet most folks could get their spending back on the rails if they would cut up their credit cards.

 

There was a story on ABC news a little while back about America's cheapest family, and the intro went something like "The Soandsos support a family of 7 on an annual income of $35,000, and THEY DO IT WITHOUT CREDIT CARDS!" I'm like, "No Shit. How ELSE could they do it?"

We all have credit cards. We call it a fiscal stimulus package though and there's little opposition when its called that  :angel:

In lieu of actually sitting down and writing up a budget, I bet most folks could get their spending back on the rails if they would cut up their credit cards.

 

There was a story on ABC news a little while back about America's cheapest family, and the intro went something like "The Soandsos support a family of 7 on an annual income of $35,000, and THEY DO IT WITHOUT CREDIT CARDS!" I'm like, "No sh!t. How ELSE could they do it?"

 

I have a question, do you not have a credit card or is it you have one, but you do not use it.

No credit cards.

 

We all have credit cards. We call it a fiscal stimulus package though and there's little opposition when its called that  :angel:

 

Which is why I'm using the stimulus check to pay off old credit card debt.

No credit cards.

wow.  thats good.  I do not trust myself with cash.

Credit cards are instant debt. Plain and simple. I don't see how people believe it is cash.

Credit cards are instant debt. Plain and simple. I don't see how people believe it is cash.

 

I don't use cash, I only use my AMEX.  I pay everything with that card then just pay the bill at the end of the month.  So to me, it is cash.

Credit cards are instant debt. Plain and simple. I don't see how people believe it is cash.

 

I don't use cash, I only use my AMEX.  I pay everything with that card then just pay the bill at the end of the month.  So to me, it is cash.

 

I am wholly in MTS's corner here.  If you are responsible, it is no different than a debit card. Credit Cards are fantastic.  I use less than 500 in cash in any given year. I'll buy a newspaper for 50 cents on my credit card.  I pay everything off every friday.  If you are going to spend however many tens of thousands of dollars you do every year... shouldn't you get something for it?  Welcome to the points system.

Credit cards are instant debt. Plain and simple. I don't see how people believe it is cash.

 

I don't use cash, I only use my AMEX.  I pay everything with that card then just pay the bill at the end of the month.  So to me, it is cash.

 

I am wholly in MTS's corner here.  If you are responsible. Credit Cards are fantastic.  I use less than 500 in cash in any given year. I'll buy a newspaper for 50 cents on my credit card.  I pay everything off every friday.  If you are going to spend however many tens of thousands of dollars you do every year... shouldn't you get something for it?  Welcome to the points system.

 

Hello and the perks that come with that card are fabulous!

Credit cards are instant debt. Plain and simple. I don't see how people believe it is cash.

 

I don't use cash, I only use my AMEX.  I pay everything with that card then just pay the bill at the end of the month.  So to me, it is cash.

 

I am wholly in MTS's corner here.  If you are responsible. Credit Cards are fantastic.  I use less than 500 in cash in any given year. I'll buy a newspaper for 50 cents on my credit card.  I pay everything off every friday.  If you are going to spend however many tens of thousands of dollars you do every year... shouldn't you get something for it?  Welcome to the points system.

 

Hello and the perks that come with that card are fabulous!

 

AMEX is undoubtedly the best.

Credit cards are instant debt. Plain and simple. I don't see how people believe it is cash.

 

I don't use cash, I only use my AMEX.  I pay everything with that card then just pay the bill at the end of the month.  So to me, it is cash.

 

I am wholly in MTS's corner here.  If you are responsible. Credit Cards are fantastic.  I use less than 500 in cash in any given year. I'll buy a newspaper for 50 cents on my credit card.  I pay everything off every friday.  If you are going to spend however many tens of thousands of dollars you do every year... shouldn't you get something for it?  Welcome to the points system.

 

Hello and the perks that come with that card are fabulous!

 

AMEX is undoubtedly the best.

 

Its so funny you say you put everything on it, I use to feel guilty put $3 coffee on it, but I then I thought I have to spend x dollars on this whore to keep the card.  which is why I'm going to see if I can pay my mortgage on this card.

In lieu of actually sitting down and writing up a budget, I bet most folks could get their spending back on the rails if they would cut up their credit cards.

 

Amen, brother. I had to learn the hard way. Now I pay for everything in cash (or Debit) and I havent been happier. And strangely enough, I have more money left over now.

In lieu of actually sitting down and writing up a budget, I bet most folks could get their spending back on the rails if they would cut up their credit cards.

 

Amen, brother. I had to learn the hard way. Now I pay for everything in cash (or Debit) and I havent been happier. And strangely enough, I have more money left over now.

 

Because you aren't spending what you don't have.  Cash really is king.

Credit cards are instant debt. Plain and simple. I don't see how people believe it is cash.

 

It works the opposite for me. If I have the cash, it gets spent. I'm very reluctant to put anything on credit or debit, although this is how I pay for everything.

If you have the discipline, it only makes sense to use a card and pay it off at the end of the month.  Much better accounting.  There is nothing wrong with cards if you can handle it.  Many people can't.

 

Here's a little story.  1986, was going on vacation and went to AAA to buy some travelers checks.  Cashier asked how I wanted to pay for them, and I said I guess cash because how else could I get them?  She said, "if I had a AAA Visa card, I could get them free, and they were charged as a purchase, not a cash advance".So I went ahead and bought $1000 worth of Amex travelers checks and charged it to my Visa. 

 

After I got home, I started thinking about it, and figured if I bought travelers checks to the max of my Visa, and did it right after the account closed for the month, I could get to use that money for ~ 45 days before I would get my next bill.  So I went back to AAA and bought $3000 worth of travelers checks, (cashier asked where I was going this time) I said back to Vegas, then immediately drove to the bank and deposited them into my 8% Equity Line of credit.

 

I did this for a few months, and the cashier continued to ask me where I was going each time!  I eventually told her "to the bank"!  I'm pretty sure I was not the only person doing this.  I never got charged a single cent.  I made 8% annual interest on the money, and the best part was that after a few more months, VISA raised my limit.  To help me out, AAA ordered special $1000 checks so I wouldn't have to sign my name as much.

 

After a year or two, my limit was up to $10,000 and I did it religiously.  I then applied for a AAA Mastercard, and did the same thing.  YADA, YADA, Yada, after about 10 years, I had a $20,000 limit on my Visa, and $15,000 on the mastercard, buying travelers checks twice a month to the max and just depositiing them and paying off the other card as they cycled very conveniently.  Never paid a thing other than my AAA membership!  Eventually AAA changed to Citibank checks and I had to stop, but the interest on my equity line got so low that it wasn't worth it anyway, but it sure was fun.

 

I made money, I'm sure AAA made money from AMEX, I don't know if AMEX made any money, but I don't know who ultimately paid for my interest!

^You know, for a Republican you sure are smart.

 

Its so funny you say you put everything on it, I use to feel guilty put $3 coffee on it, but I then I thought I have to spend x dollars on this whore to keep the card.  which is why I'm going to see if I can pay my mortgage on this card.

 

Actually, apples to apples cash to credit, small purchases cut into the profit margin of the merchant (he pays a percentage of every purchase over to the credit card company), so, assuming the merchant raises prices to cover the difference, in effect you're helping drive up inflation.

 

It all balances out for the merchant, though, when your impulse control goes south and you end up throwing a CD, cookie, French Press and newspaper on there with your latte.

^You know, for a Republican you sure are smart.

 

Its so funny you say you put everything on it, I use to feel guilty put $3 coffee on it, but I then I thought I have to spend x dollars on this whore to keep the card.  which is why I'm going to see if I can pay my mortgage on this card.

 

Actually, apples to apples cash to credit, small purchases cut into the profit margin of the merchant (he pays a percentage of every purchase over to the credit card company), so, assuming the merchant raises prices to cover the difference, in effect you're helping drive up inflation.

 

It all balances out for the merchant, though, when your impulse control goes south and you end up throwing a CD, cookie, French Press and newspaper on there with your latte.

 

Well good for them, because that would be pennies compared to my "impulse" shopping.

Online Coupons

www.coupons.com

 

I clip from here a lot.

^You know, for a Republican you sure are smart.

 

 

As a Republican, I don't know if that's a shot or not!!    :wink2:

 

Online Coupons

www.coupons.com

 

I clip from here a lot.

 

I did see a coupon for 35 cents off of $1000 shoes!  Save it for a double coupon day, and you can dance all the way home!!!!!    :-D

 

 

^You know, for a Republican you sure are smart.

 

 

As a Republican, I don't know if that's a shot or not!!    :wink2:

 

Online Coupons

www.coupons.com

 

I clip from here a lot.

 

I did see a coupon for 35 cents off of $1000 shoes!  Save it for a double coupon day, and you can dance all the way home!!!!!    :-D

 

 

 

Well to be quiet honest $1,000 was the sale price, the original price was $1,550.

It's wise to shop for bargains!

It's wise to shop for bargains!

As a bonafide shopaholic I agree!

I've asked merchants about it --apparently Visa charges all sorts of fees to merchants. Not just for transactions but for disputes over charges and other things. Someone told me AMEX charges merchants 20% which is hard to believe but it would explain why not very many people accept AMEX.

AMEX and Discover are two cards that I've seen rejected a lot. My parents used to have Discover, but realized that it's only useful in about 10% of the stores they shopped, and was practically useless at a lot of restaurants.

AMEX is my corporate card.  Almost everybody takes it.

AMEX is my corporate card.  Almost everybody takes it.

 

AMEX is my corporate and personal card.  Its really only not usable at small mom and pop places.

Well I am around a lot of independent stores. I guess that's why I was under that impression. My bad.

 

Dan--When I worked at Old Navy, P&G people would come in and buy like 50 of the same shirt to test their products on. I remember they always used their AMEX lol

Well I am around a lot of independent stores. I guess that's why I was under that impression. My bad.

 

Dan--When I worked at Old Navy, P&G people would come in and buy like 50 of the same shirt to test their products on. I remember they always used their AMEX lol

 

Then Dan would take those 50 shirts and rent them to a cleaning service, deposit the fees into a Money Market, redirect the earned interest into corn futures, churn the profits into AMEX traveler's checks, then, under the guise of a laundry service, retrieve the shirts and then return them to Old Navy for a cash refund, slipping the funds back into the P&G coffers before the close of the monthly books. 

 

 

KOOW the money launderer.  :-o

Milo Minderbinder was my hero.  The syndicate makes money and everyone has a part of the syndicate....

XMas is upon us.  I'm getting discount coupons out the woodwork and my nephew and mother have alerted me that the Needless Markup Christmas Book has arrived!

 

Heres a Bath and Bodyworks coupon to start you holiday season off

 

I was on an AirTrans flight today and before she pushed the little food cart around, the stewardess hawked credit card applications.  Whoa. 

XMas is upon us. I'm getting discount coupons out the woodwork and my nephew and mother have alerted me that the Needless Markup Christmas Book has arrived!

 

Heres a Bath and Bodyworks coupon to start you holiday season off

 

 

Do you have any dicks sporting goods coupons?

I was on an AirTrans flight today and before she pushed the little food cart around, the stewardess hawked credit card applications.  Whoa. 

 

Credit Card marketers are relentless.  Those marketing partnerships are multilayered.  Its holiday time and many, many more people will be enticed into opening new or increasing their current credit limits.

 

Do you have any dicks sporting goods coupons?

 

No but if I get stuff, I'll post it.

I don't know if this has already been said, I don't budget, I know my expenses and make sure they're covered.. BUT.. when I make online purchases, just do a quick search with the company/website name (Ie - Dicks, Best Buy, etc) and "coupon code" or something along those lines.  Typically you can find a ton of codes, just gotta try them.  This works well with Amtrak I know.

Here's a coupon you whippersnappers can enjoy!

 

http://gap.p.delivery.net/m/p/gap/pvw/nprevieweml.asp?cid=14969144984&pid=747244&mid=1873095375

Here is a coupon for you kids. 

 

Posting both ways incase this cannot be downloaded.

 

I can't get the picture to link but here is the website

 

http://lordandtaylor.net/P/v3/Microsite.asp?E=84247;387375;1070107315;3;02&R=T1_ONL&A=1007

 

 

 

 

Just got a notice from Discover Card saying they're raising my interest rate from 8.9% to 24.9% even though I've never been late, overcharged, or any of that.  You have to send a letter and they shut your account down completely, or at least they say they will.  I had heard about this on the radio and "never thought it would happen to me".   

 

Anyone know if they make you pay your account off in full or if you get to keep making smaller payments?  I've got about $5,000 parked on there thanks to 7 cavities and a new transmission, new side window, and new front windshield and it'll be tight to pay that off with one check.       

 

 

 

This has happened to me a number of times.  You had better call them and confirm that if you close the card, your current 8.9% will stay intact as long as you stay current on the account.  Once you confirm that, you can close it, but you have to continue to be diligent about paying at least the minimum, on time, until the card is paid off.  In this economy, closing a credit card can actually hurt your credit because you have less total, available credit, so it can lower your credit score.  Do you have any other cards you can transfer the balance to?  Or balance transfer checks with a fixed, low apr for another card (for the life of the transfer, which is important)?  If not, you might want to consider opening a new credit card with a low balance, transfer the whole balance from Discovery and then work on paying that card off.  Leave the discover card open but unused.  Even if the low balance is introductory on the new card, it usually won't jump to anything as high as 24.9 after the introductory period is over, as long as you keep your account current.