Pay now or pay later

[kcredden]

You've heard me rant about how people throw their money away on Chinese made junk and how our jobs now are owned by China and such? I was re-reading an old article that struck home - lithely.

Pay Now or Pay Later, by Sascha Segan (http://www.pcmag.com/article2/0,2817,2253799,00.asp)

Know what my solution is? It's called 'saving for it'. How? I put away 1% of every dime I make into a bank account I call a 'luxury fund', and let it build up. When I want say the "Complete Chester Gould's Dick Tracy Volume 1 (Hardcover)" I can get it without guilt because I worked and saved for it for months. I can still pay bills, it takes months sometime to save up enough but it'll be there, and the thing you want will be there if you can't get it now because your luxury fund isn't enough. I now have a 'insurance' fund, clothing fund, car fund, etc. Everything I need that I have to pay for, has a fund.

That works out really well, when you need something in a hurry (like car repairs) and I still have money to buy groceries.

Not kicking anyone here, but hopefully someone young will read and take this to heart.

- Kc

[mark]

You've heard me rant about how people throw their money away on Chinese made junk and how our jobs now are owned by China and such? I was re-reading an old article that struck home - lithely.

Pay Now or Pay Later, by Sascha Segan (http://www.pcmag.com/article2/0,2817,2253799,00.asp)

Know what my solution is? It's called 'saving for it'. How? I put away 1% of every dime I make into a bank account I call a 'luxury fund', and let it build up. When I want say the "Complete Chester Gould's Dick Tracy Volume 1 (Hardcover)" I can get it without guilt because I worked and saved for it for months. I can still pay bills, it takes months sometime to save up enough but it'll be there, and the thing you want will be there if you can't get it now because your luxury fund isn't enough. I now have a 'insurance' fund, clothing fund, car fund, etc. Everything I need that I have to pay for, has a fund.

That works out really well, when you need something in a hurry (like car repairs) and I still have money to buy groceries.

Not kicking anyone here, but hopefully someone young will read and take this to heart.

- Kc

Great thinking man.

Paying cash for purchases is the only way to go these days. Forget the credit cards, they only make the banks richer. Discipline with budgets is the only way to go..........see ya mark

[Brian K Beckett]

Too many people have to start out in debt now. Lets look at the typical college grad today. They start out being $15,000 to $20,000 in debt as soon as they graduate. Then they buy a house thats another debt. Then they usually need a newer car thats another debt. Credit Cards are a rip off. Just another debt so you can buy useless things you cant afford.

Unfortinuatly money management isint being taught in schools any more. I agree the schools have all this great technoligy to teach students but somewhere along the line we disregarded teaching them the basics to become a good member of society.

We stopped listening to the teachers when they told us they arent allowed to teach anymore because everything is now being dictated to them...