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Money matters.. coping with financial stress - Page 2

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  1. #21
    jimicrk's Avatar
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    I have good insurance so my Dr. visit is a 20 dollar copay every 6 months. My wife is another story. After 9 back surgeries and her no longer being able to work, things can start to pile up.



  2. #22
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    Quote Originally Posted by miked View Post
    For me the very best way to resolve finical problems for life is to follow Dave Ramsey's teachings. Free easy to learn online at his web site and/or his books which are available at the library.

    He offers both short and long term solutions. 73, Mike
    Dave Ramsey is a great resource and his strategies can be life changing. Another one that I have a great deal of respect for and would highly recommend is Clark Howard. His emphasis is more on how to save money while Dave Ramsey's focus is money management. If a person were to combine the philosophies of both individuals you could live a very comfortable life regardless of income.
    As a scrapper I hope to return more to society than I use.

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  4. #23
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    Quote Originally Posted by 520 View Post
    Google Dave Ramsey


    Cut any unnecessary expenses
    Save up until you have a $1000 emergency fund and don't touch it unless it's an emergency
    Pay off everything starting with your smallest debt first and work your way up to whatever you owe most
    Once you have everything but the big ticket items (house, student loans, car etc) start growing your emergency fund to 3-6 months expenses
    Then start throwing everything you have at the house student loan car etc.
    Then finally...stay out of debt forever and never buy a **** thing on credit again for the rest of your life.
    Just wanted to highlight a couple of differences between Dave Ramsey and Clark Howard. I am not trying to say one is better than the other and believe the right answer will depend on your personality and circumstances. The strategy of paying off your smallest debt first is based on the concept of success breeds success. It is motivational and highlights progress quicker. Clark Howard recommends paying off debt with the highest interest rate first to save more money in the long run. Dave Ramsey's position on credit cards is the same as his belief about debt in general, do not purchase anything (exception is a home mortgage) on credit. If you cannot pay cash, you cannot afford it and do not need it. Clark Howards position is to freeze your credit card in a freezer. When you think you need it, you will need to thaw it before you use it giving you more time to decide if the purchase is a need or a luxury. Personally I use credit cards to track expenses and for the cash back options, but I pay off the balance every month. The security of having a credit card for emergencies is very appealing to me as well.

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  6. #24
    hills's Avatar
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    The ratio varies from day to day but we're running about 60 / 40 between cash and plastic. Some days it's 60% cash and other days it's 60 % plastic.

    The plastic transactions are running somewhere around 70 % debit cards and 30% credit cards. Credit cards seem to be more in the realm of the upper middle class and the wealthy.

    If i boiled it all down : It seems that most folks are working with cash they have on hand or in their checking account.

    =================

    I was talking with one of the local lobstermen last night. He's well into his 50's and owns just about everything outright. They had a bad year with lobstering in 2017.He had to replace his truck in 2017 because the frame broke but he didn't have the cash on hand to pay for it so he took out a loan.

    He explained that it took a bit of doing to get that loan. He had no credit history or credit score. Here he is ... the most responsible guy in the world. Always paid his bills on time, raised a family, and lived within his means for all of his adult life.

    Not saying that it's good or bad. Just an observation that a good credit score might have more to do with the potential money that a bank could make off someone in the form of interest with the least amount of risk. It probably has less to do with the wise money management decisions that people make.
    Last edited by hills; 08-12-2018 at 08:43 AM.

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  8. #25
    wildliferacer started this thread.
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    Quote Originally Posted by miked View Post
    For me the very best way to resolve finical problems for life is to follow Dave Ramsey's teachings. Free easy to learn online at his web site and/or his books which are available at the library.

    He offers both short and long term solutions. 73, Mike
    Thanks. It's a good read, will definitely will make time for this.

  9. #26
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    Quote Originally Posted by t00nces2 View Post
    Lots of really good advice in this thread and some really funny replies to boot!

    My addition to those nuggets would be this: Get a night job. I have delivered pizza for years to make extra money. I have found that it goes farther than just "extra money". I don't know how old you are, but when I was in my twenties, I looked at the night I delivered as doubling the money I made because as well as making a bit of bank, I was not out spending money, and I also got to eat. I also made pretty good money with near zero responsibility....




    Oh the joys of drinking and smoking, and if you can do it while trying to double your money at the local pool hall, you.... are on the road to success!



    Who can afford a doctor?! Downtown. Back alley. Pill Bill. I also hear he plays pool and will let you shoot games for free pills... Tell him t00nces2 sent you.




    Yeah, tell her that. Tell her that while you drink your booze and smoke your butts. Nothing worse than having carping, nagging ball and chain around while you are trying to get your head together drinking and smoking and twisting a spleef.




    Okay, the weed thingy... Speaking from experience, and the experience of others.... Pot has a side effect called "the 'noids". Doesn't happen all the time, but it can happen anytime, and seems to happen more if you are worried. You smoke and you get paranoid, and not just a little paranoid. You start to worry to the point you start questioning your entire life. The 'noids can really become a black hole and the paranoia can keep eating away at your mind. If you are not a pot smoker now and know the pitfalls, I would not recommend taking it up for help on this problem (I actually would not recommend pot for "solving" any problem. It will help about as much as the booze and cigs.).


    Having been quit the...ah...enjoyer back in the day, I will have to say...never had that happen, an lord knows I had a ton of stress back then an caused a bunch. Nor have I ever met anyone who has had such.

    Pot for some folks COULD cause mental issues. My experience it's folks who are at risk already for such things. I have a friend who is schizophrenic, I could blame it on the pot but I'm sure it was the fault of both pot an the stress he was under when he got diagnosed. I have no statistics to back it up, but I would bet money the majority of people who smoke, use edibles have no issues with it.

    I have another buddy who can't even smell it. When he was younger someone gave him laced pot. Ever since he will pretty much throw up. I tested the theory once, it's true. LOL he thought it was funny to after he was done cussing up a storm. lol.

    To each their own though I say. I'd rather risk being paranoid, then become a addict to opiates, or any other pill for that matter.

    Sirscrapalot - Puff puff give.
    Last edited by Sirscrapalot; 08-13-2018 at 11:14 PM.

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  11. #27
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  13. #28
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  15. #29
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    Dave Ramsey is the best for all around great advice. My personal advice is to also be active at the polls. James Carville was infamously quoted as saying "the economy, stupid" when discussing the messages that Clinton wanted to get out. After 8 years of an underperforming Obama administration, it became and is one of the most important things happening now. A strong economy fixes many ills. Ya ya, we can discuss all the negativity about Trump, but his numbers are way up due to the booming economy. Now if we can just keep him off of Twitter.....

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  17. #30
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    "I'd rather risk being paranoid, then become a addict to opiates, or any other pill for that matter."


    Just to be clear, you're admitting to being paranoid about opiates?

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  19. #31
    hills's Avatar
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    Quote Originally Posted by Ecycle Atlanta View Post
    Dave Ramsey is the best for all around great advice. My personal advice is to also be active at the polls. James Carville was infamously quoted as saying "the economy, stupid" when discussing the messages that Clinton wanted to get out. After 8 years of an underperforming Obama administration, it became and is one of the most important things happening now. A strong economy fixes many ills. Ya ya, we can discuss all the negativity about Trump, but his numbers are way up due to the booming economy. Now if we can just keep him off of Twitter.....
    The problem is that the economy doesn't turn on a dime. We might not see the full effect of economic policy put into effect today .... for another ten years yet. Thus ... Clinton enjoyed the effects of Reganomics during his administration. Perhaps Trump will get the credit for the good that came from Obama administration economic policies. ( A stronger and more sound U.S. dollar. )

    Bush jr ??? He was a two termer. We saw firsthand the result of economic policy he put into place during his first term. ( Massive inflation and the big bank meltdown. )

    It's really more a matter of being in the right place at the right time with a first term president.
    Last edited by hills; 08-14-2018 at 04:28 PM.


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