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"The Do's and Don'ts of Debt"


Forum: Financial Planning and Budgeting

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  #1  
January 19th, 2007, 01:49 PM
BensMom's Avatar Ephesians 4:29
Join Date: Apr 2005
Location: The Lonestar State
Posts: 50,214
http://abcnews.go.com/2020/story?id=2807993

Interesting tip about saving 1/2 your age. I'd never heard that one before, but it makes sense.
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  #2  
January 19th, 2007, 02:41 PM
~Jess~'s Avatar Platinum Supermommy
Join Date: Oct 2005
Location: Central California
Posts: 16,959
Thanks, that was a great read. I especially agree with the part about buying a liability disguised as an investment. My in-laws are famous for that one.
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  #3  
January 19th, 2007, 02:53 PM
BensMom's Avatar Ephesians 4:29
Join Date: Apr 2005
Location: The Lonestar State
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Quote:
Thanks, that was a great read. I especially agree with the part about buying a liability disguised as an investment. My in-laws are famous for that one.[/b]
Yeah, I know a few people who have done that.
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  #4  
January 19th, 2007, 03:02 PM
~Jess~'s Avatar Platinum Supermommy
Join Date: Oct 2005
Location: Central California
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Quote:
Quote:
Thanks, that was a great read. I especially agree with the part about buying a liability disguised as an investment. My in-laws are famous for that one.[/b]
Yeah, I know a few people who have done that.
[/b]
Unfortunately, my in-laws are stupid and haven't learned their lesson. They've pulled this trick repeatedly. Buy high, pay interest, sell low, HUGE loss. I just want to shake them sometimes.

ETA: But what do I know? I'm just a naive kid in their eyes, lmao.
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  #5  
January 19th, 2007, 03:19 PM
BensMom's Avatar Ephesians 4:29
Join Date: Apr 2005
Location: The Lonestar State
Posts: 50,214
Quote:
ETA: But what do I know? I'm just a naive kid in their eyes, lmao.[/b]
It always surprises my mom to know how much we have in savings compared to them... and they're supposed to retire in 5 years??? The only thing saving them is that the land my grandparents bought in the middle of no where back in 1957 is now RIGHT on the interstate and is worth about $1m to a couple of car dealerships eye'ing it.
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