Are prices like this everywhere?

[MossRoad]

It's never about how much you make, it's about how much you save.

Which is why we don't have loans.

 

[Snobdds]

Which is why we don't have loans.

which makes it impossible to have a good credit score...

 

[Cougsfan]

Any close "friend" that did that to me would be the last time I lent my time or equipment unless he paid for it.

My take on that kind of response is that you might be rather unforgiving and probably not morally superior to your friend.

 

[Snobdds]

You don't get to write off the interest unless you pay more in interest than the standard deduction. DUH!

That's $25,900 for a married couple filing jointly for 2022.

More than interest goes into the standard deduction...which when combined with other deductions, makes that interest write off glorious in a raising rate environment.

 

[MossRoad]

which makes it impossible to have a good credit score...

No it doesn't. We have had no loans since 1995 and have an outstanding credit score.

 

[tallyho8]

which makes it impossible to have a good credit score...

I accidently hit the Good Post button. I have not had a loan since I bought my first house in 1973 and paid it off by 1978. My credit score has been over 800 for many years. I would never pay interest on a loan to try to raise my credit score. I have credit cards that pay me back rebates and I pay the balance in full every month. There are many different factors that determine your credit score.

 

[tradosaurus]

My take on that kind of response is that you might be rather unforgiving and probably not morally superior to your friend.

My experience in life has taught me that people like that neighbor are good at taking and not as good at giving.

I don't how you drew the conclusion you did but must have majored in art.

 

[MossRoad]

More than interest goes into the standard deduction...which when combined with other deductions, makes that interest write off glorious in a raising rate environment.

In 37 years of marriage (today, happy anniversary sweetie) we've itemized every year and never once beat the standard deduction. Kids. Mortgage. Medical expenses. Property taxes. Sales taxes. All of it. Not once. Yet we've managed to pay off a house. 20 acres of land. Another house. Sent 2 kids to private school k-12. Both to Purdue debt free. Take great vacations and drive decent cars. Saved about 4 decades worth of income in investments, too. Add to that social security, the value of our house, land and possessions, we have enough cash to last us well past 110. All on two people making average wages and living below their means.

Debt free is the way to go.

 

[Snobdds]

No it doesn't. We have had no loans since 1995 and have an outstanding credit score.

LOL...

 

[MossRoad]

I accidently hit the Good Post button. I have not had a loan since I bought my first house in 1973 and paid it off by 1978. My credit score has been over 800 for many years. I would never pay interest on a loan to try to raise my credit score. I have credit cards that pay me back rebates and I pay the balance in full every month. There are many different factors that determine your credit score.

If you go back and hit the good post button again, it should take it back. Give it a try.

 

[MossRoad]

LOL...

LOL what?

I consider my wife and I very successful and very fortunate to be on the same page financially. We are grateful for what we have. And fortunate to have good health and steady employment. Good examples from our parents got us on the right path. Our kids are doing the same.

 

[Snobdds]

In 37 years of marriage (today, happy anniversary sweetie) we've itemized every year and never once beat the standard deduction. Kids. Mortgage. Medical expenses. Property taxes. Sales taxes. All of it. Not once. Yet we've managed to pay off a house. 20 acres of land. Another house. Sent 2 kids to private school k-12. Both to Purdue debt free. Take great vacations and drive decent cars. Saved about 4 decades worth of income in investments, too. Add to that social security, the value of our house, land and possessions, we have enough cash to last us well past 110. All on two people making average wages and living below their means.

Debt free is the way to go.

Debt free is the way to go. Not arguing that.

Managing debt to obtain cheap credit to pounce on investment opportunities that doesn't require selling income producing assets is much better than the Dave Ramsey way...

 

[Snobdds]

LOL what?

I consider my wife and I very successful and very fortunate to be on the same page financially. We are grateful for what we have. And fortunate to have good health and steady employment. Good examples from our parents got us on the right path. Our kids are doing the same.

Pat yourself on the back....but it's not hard to what you do. A lot of us do it.

Also..if you haven't had a loan in 20 years...you have no credit. I would like to be proved wrong on that though...

 

[5030]

I guess you could take that discussion to the front porch, since you know the rules.

I do and will say nothing else. How's that?

 

[bnold]

Awhile back, I had a $2,300 quote for replacing the front bearings (The bearings themselves were pretty cheap, $250, IIRC). That caused me to set aside a Saturday to do it myself. With a floor jack, some stands and an impact wrench, I had both bearings off and back on again in 45 minutes. I have no idea why the shop price was so far out.

So, yes, prices are a bit weird between labor issues, supply chain misfires, local supply/market, and inflation. Regular gas is $6.06 at my low cost gas station here. I was in the Midwest recently where it was more like $3.40...

All the best,

Peter

$6.06!!!

$2.70 low I’m seeing right now in N Tx

 

[5030]

Far as credit cards go, I only have one, a Kroger (US Bank) Mastercard and the only reason I do have it is 3 fold. One, they don't outsource their call center to Asia and two, we get a discount on gasoline at their fuel stations and three we get coupons for cents off on food purchases. I don't get excited about diesel because all I purchase is off road anyway so it's no road tax.

 

[2manyrocks]

In 37 years of marriage (today, happy anniversary sweetie)

Congratulations.

Is your wife a member here?

 

[jyoutz]

We have a kid that just paid off their master's degree, has a nice car, lives in a nice townhouse duplex that they rent, has two years of rent saved in their bank account, a decent ROTH IRA balance for the age of 29, and makes just $35K per year. How is that possible?

How about paying as you go, live below your means, etc.? What a concept.

It also helps to live in a low cost of living location.

 

[ponytug]

$6.06!!!

$2.70 low I’m seeing right now in N Tx

Yes, my closest is actually $6.66/gallon. As @ultrarunner showed, most stations around here go up about $0.10/grade, for a $0.30/gallon spread between 87 and 91 octane gas.

All the best,

Peter

 

[Snobdds]

It also helps to live in a low cost of living location.

No humble bragging.