BYC Café

[DobieLover]

I never used credit till I was a old lady paid cash or did not get all my life just made sure I was paid well

When you flip houses, you need credit! I carry have access to $50,000 in credit just between the big blue and big orange box stores. But the kicker is, I never pay interest on a credit card. I wait for the "12-month interest free" deals then buy mass quantities for the house. I always had the house sold before the debt was owed and only had to make minimum payments on the balance until I just paid it off when I closed on the sale.
This is how one achieves a credit score over 820. I once walked into my local credit union and told them I needed a signature loan for $28,000 so I had enough money to close the balance on buying a house at auction. The credit officer gave me a hoity toity, "you've-got-to-be-kidding-me", dismissive look and I sweetly smiled back. I loved the look on her face when she walked back in the room after retrieving my credit report and informed me I was approved for the loan. I walked out the door with the check that day.
Try teaching UN the importance of that.

 

[aart]

Daddy always said, never buying anything on credit except a house and/or a car.
I had to be coerced to get a credit card after my divorce to build credit,
I can still hear the heavily accented lady at the bank tell me "you must keep yourself under control".
They were both right.
Have basically had the same card for 30+years and the only time I paid interest is when the bill got buried in the pile once.

 

[DobieLover]

Good morning Cafe. Coffee is ready.
And yet ANOTHER gully washer, very intense thunderstorm last night. It was quite the light show. Nothing down that I know of. I still haven't cut up the trees from the power outage storm.

 

[aart]

2 more cool days, then all next week in the upper 80's(GAH!).

 

[sourland]

Good morning, Cafe', and thanks for the coffee.

 

[Mtn Margie]

Good morning and thanks for the coffee! Time to get the chores done before the storms roll in up here. It sounds like the Cafe is hanging in there so keep up the excellent work and enjoy the day you All!

 

[Sally PB]

That is very sad. So many people have NO idea how to handle money. And there is NO WAY IN H3LL I would buy ANY jewelry on credit. If you can't afford it, DON'T BUY IT. Other than a house and maybe a cheap car it has to be "life or death" to borrow. IMO anyway.

I totally agree.

My parents lived through the Great Depression as kids. They learned the value of hard work, saving, and how money works. They tried to teach that to me and my bro and sis, verbally, and by how they lived.

Bro and sis were adopted, as my parents tried to have kids. Finally, I came along. So I am genetically not related to my siblings.

Oh, man, is there a difference in how we viewed/lived life! Relationships, money, work; all different.

My brother has always been a hard worker; he builds VERY expensive houses for VERY wealthy people. That is his gift, and he's in demand. He can barely read, as he's dyslexic; he dropped out of high school.

My sister, (RIP) never had a clue about money. If she had it, she spent it. If she didn't have it, she spent it on plastic. I never understood her and still don't. I stopped lending her money after the first time because she didn't pay me back.

DH and I have always been savers. Both our credit scores are over 800. The last time we borrowed money was to buy the property that adjoins ours that was in foreclosure, long since paid off. Credit cards are paid in full every month. Anything we can't pay cash for, we don't buy.

There was one period of time I had a balance on a credit card. It was right after we bought our house. It needed a new roof and a furnace. (The builder put in all electric baseboard heat. Another of his "brilliant" ideas.) We didn't have the cash to buy those. I used the 0% interest cards that were popular back then (1990s) and paid as much as we could each month. I think it took about 20-24 months to pay it off.

About 6 years ago, someone at work told me he was hoping he could retire when he was 65 (he was 33 at the time). I laughed and said I was retiring at 59.5, as soon as I could access my IRA without penalty. He looked at me and said, "No, you can't retire until you're at least 62 so you can get Social Security!" (I'm pretty sure he knew what my pay rate was.) I smiled, shook my head, and thought, Just watch, boy, just watch.

 

[Phaedra Geiermann]

Morning everyone! Another sunny day, today we will have 14 hours sunlight, somehow time flies so quickly this year, suddenly it's almost August.

Our only loan is also just the house. As we have only 3 persons we bought a small car, just enough (and pratical for parking) to bring us from A to B. One day we parked at a supermarket, and a mom told her young kids:

"Hey, see that, if you don't study hard, you can't get a good job, at the end you can only have that kind of poor car!" Wow, at that moment I am really impressive how "poor" that woman is.

I have no interest in whatever luxurious, especially after my parents lived their lives chasing those badly and chose to ignore family life. Enough is enough, after hard working 20 years right after college, i am happy that now I am my own boss

 

[LaFleche]

Good afternoon everyone!

Apart from a few minor trifles, the brand new poultry netting is finally up, pheeeeew!

But right the first night an owl got caught and entangled itself badly, so I had to cut my brand new netting to get the owl out without strangling or injuring it even further by trying to untangle the mess without cutting into the netting.
The owl is recovering and the netting repaired, so no mayor harm done. And starting next weekend the pullets (by then 11 weeks old) will be able to enjoy the whole area.

Overcast grey sky with winds and rain in the forecast. And I wonder where did the nice summers of my childhood go?

 

[LaFleche]

That vinyl covered tractor seat sure makes my asssweat.

Why not use a nice padded cotton cushion?