11/21 I'm trying to figure out how much I save. Does money I contribute
to debt (student loans and car loan) considered money I "save"?
\_ "I'm trying to figure out how healthy I am. I normally
smoke 2 packs a day but now I've cut it down to just
1 pack a day. Does the reduction count towards health
that I hope to 'gain'?"
\_ When you have more going into a bank/CD/investment than
what you spend, then you're saving. If you pay just the
minimum fee (interest only) and put that extra cash into
an investment that earns more than the interest rate,
then you're saving even more! Obviously, it's not easy
to find an investment that 1) earns more than the interest
rate and 2) is stable/consistent/predictable. So if you're
not confident that you can use that extra $$$ to earn
a higher rate than the interest rate, then paying the
principle will reduce your loan. You are in essense saving
as much as you can.
\_ WTF? Fuck no. I can't believe I'm hearing this. You have
asset, and you have liability. Your loan is your
liability. So is taking a mortgage even if it's worth a
lot. When you pay off some principle, you are decreasing
your liability. People who have a lot of cool shit aren't
rich. They usually have a lot of liability. The more
liability/asset ratio you have, the less likely you'll save
due to having to pay off interests. In another word, if you
have a bunch of loans (car, student, house, etc), you are
in debt. You are POOR, and trying to get by your life by
trying to decrease your debt. If the loan rate is
significantly higher than say, CDs, then it's usually a
better strategy to maximize paying off your car loan +
student loans than trying to put them in CDs. In another
word, by taking loans esp. on items that have no room for
appreciation (cars, boats, etc), then your are throwing
away money. You are poor.
\_ That was hilarious, thanks! Btw, my student loans
aren't cool shit. All I got for it was attendance
at Cal, which in the end just got me an account
on this server, putting me in touch with a complete
poser like you.
\_ I have asset. You have debt. Enuff said. -poser
\_ Your English language comprehension ability
has been rated as: pathetic.
\_ My mother spends a lot of frivolous things. She goes to
high end stores, looks at the price (let's say, $1000),
then goes to the lower end stores and buys a bunch of
things (let's say $200). Then she rationalizes that she
just saved $800. This is the exact reason why uneducated
women are stupid and cause the whole family finance to go
down. I vowed to never marry someone like my mother. I'm
tired of paying off her loans.
\_ you're an idiot.
\- You're a dick and an idiot. -!pp
\_ I'm on the same boat, except that it's both of my parents
instead of my mom alone who are like this.
\_ moral of the story: don't marry into a good looking but
very white/bimbo/trash family
\_ my mother just called me to borrow money, but IT'S OKAY!
"My adjustable rate just went down and I'll save some money
1 "My adjustable rate just went down and I'll save some money
so everything will be fine!"
Someone PLEASE kill me.
\_ I think he is "saving". Saving is a concept from analyzing your cash flow.
If you have more income than spending, you are "saving". How that flows
to your balance sheet, by paying off debt or accumulating assets, is
a separate issue. |
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