hotsauceinthedickholewastaken Posted March 11, 2010 Share Posted March 11, 2010 so we lost Poesia's financial themed thread. i thought it was a great idea. i had thought my credit wasn't great but i learned it's actually a 739 so it's pretty decent after all. i don't have any debt, just a mortgage and a broken old car. now wondering what to do with my internet savings account, as the interest rate is not great anymore. anyway hopefully poesia and others are around for some more discussion & financial guidance Lol...same thing happened to me..I thought I had the worst credit ever...my score is 745 now. I owe 400 on a student loan and then I'm debt free. Why don't you throw your money in an ing account, they have good interest rates no? Quote Link to comment Share on other sites More sharing options...
!@#$% Posted March 11, 2010 Author Share Posted March 11, 2010 yeah, that's where my savings and CD's are [iNG]. there rates are just continually declining. it's like 1.2% npw. i'd like to build wealth at this point, and i don't want to fuck with the stock market just yet. Quote Link to comment Share on other sites More sharing options...
Pistol Posted March 11, 2010 Share Posted March 11, 2010 Transfer your savings into a money market account. Mines like 2%. Not the greatest but better % than my checking and reg savings plus it gives me the flexiblity to transfer to my checking account with no hassle. Quote Link to comment Share on other sites More sharing options...
VANDALICIOU$$$ Posted March 11, 2010 Share Posted March 11, 2010 Fuck yall' I don't even have a job Quote Link to comment Share on other sites More sharing options...
!@#$% Posted March 11, 2010 Author Share Posted March 11, 2010 i worked pretty hard to get where I am. no, make that really fucking hard. working full time and going to school full time for four years is no gatdamn joke. esp when you're tryin to get drunk and do freights. and yeah, money market might be a better idea. i hate the big banks though. i need my mattress to give a good return. 1 Quote Link to comment Share on other sites More sharing options...
Qawee Posted March 11, 2010 Share Posted March 11, 2010 i got some student loans. i also have some savings bonds which haven't matured yet. do i cash them now and pay off some of the student loans?!?!? Quote Link to comment Share on other sites More sharing options...
PUMPKIN ESCOBAR Posted March 11, 2010 Share Posted March 11, 2010 I had pretty good credit for a while......and then I fucked it up. I was getting limit raises every few months, 0% interest for a year offers on the regular, now I scared to even look at my report. And I get those ridiculous South Dakota based credit offers every few months. I've been over my limit for 6 months on all of them and just got them outta the red last week. I threw them all in the shredder months ago. My finances are fucked right now. I overdrafted on my checking account in July, jumped the gun on a wire transfer and was told it was posting at midnight, it didn't, my fault regardless. Last time I checked it was $300 and growing, I know they cap it after 30 days and its in collections....but I haven't done shit about it, outta sight outta mind. It's honestly the last thing on my mind and I'm lucky I have another account to get my paychecks deposited in. Ton of medical bills, car repairs, court & probation fees.....and I owe my parents a ton for bailing me out of mess after mess. Could be a lot worse though, I know a lot of people in way worse shape, my sister particularly , she's in six figure debt with student loans. It's all my fault too, so I don't like complaining either. Quote Link to comment Share on other sites More sharing options...
PUMPKIN ESCOBAR Posted March 11, 2010 Share Posted March 11, 2010 But I'm pretty stoked my Capital One card is still at 9% interest after I straight abused the fuck outta that shit. Quote Link to comment Share on other sites More sharing options...
!@#$% Posted March 11, 2010 Author Share Posted March 11, 2010 qawee, if the student loan debt is growing faster than the size of the bonds, i'd pay the loans down now i hear scary shit about the student loan debt growing to unmanageable amount pumpkin i bet your credit probably isn't as bad as you think. Quote Link to comment Share on other sites More sharing options...
yonis Posted March 11, 2010 Share Posted March 11, 2010 reading this kind of made me excited.. i'm 18 and have already started building credit. have a lease in d/t manhattan in my name w/ the electric bill (all i have to pay) and a college loan thats around 20,000 which i just got and have 10 years to pay. i'm thinking if i stay steady and pay the loan off in about 5 years, i'll be good money for a while ! Quote Link to comment Share on other sites More sharing options...
LUGR Posted March 11, 2010 Share Posted March 11, 2010 we're excited reading this too! Quote Link to comment Share on other sites More sharing options...
IOU Posted March 11, 2010 Share Posted March 11, 2010 I got a question from a friend: They are in a position to save about a grand a month and want to know what to do with it? As far as having that money make more money for them.. Thanks. /IOUreallydoesOWE Quote Link to comment Share on other sites More sharing options...
Prime Chaos Posted March 11, 2010 Share Posted March 11, 2010 This video has some really good tips on how to manage your finances http://www.youtube.com/watch?v=JO8T4SNE2xE Quote Link to comment Share on other sites More sharing options...
!@#$% Posted March 11, 2010 Author Share Posted March 11, 2010 I got a question from a friend: They are in a position to save about a grand a month and want to know what to do with it? As far as having that money make more money for them.. Thanks. /IOUreallydoesOWE tough question. suzie orman would have you belive the number one priority is to build an emergency fund. i agree with her. that means about 6 months to one year of expenses if you lost all your income tomorrow. i have enough to last about 8 months and it's in ING so it's earning a little interest. BUT it's liquid, so if i have a serious problem, like arrest, disability, layoff, medical, i can survive and keep my house. so first put that away. does this person own a home? that would be the next thing i started saving for.. if you have 10% of a downpayment, you can avoid the useless (and huge) expense of PMI. after all that, i would look into a few options: a money market with a good interest rate (as we discuss above) or an IRA or other retirement fund through a reputable firm who has no dirt, like T Rowe Price. Jumping into the stock market right now seems very risky without doing it through a brokerage firm who can spread the risk around. there's also Treasury bonds someone else may be able to offer more insight ....> Quote Link to comment Share on other sites More sharing options...
IOU Posted March 11, 2010 Share Posted March 11, 2010 Thanks symbols. My friend doesn't own a house. That emergency fund is a great idea. Quote Link to comment Share on other sites More sharing options...
!@#$% Posted March 11, 2010 Author Share Posted March 11, 2010 sure! and yes, you would not believe the sense of security and peace of mind that come with having money socked away. it took me a long ass time, but i have mine finally. Quote Link to comment Share on other sites More sharing options...
Pew_Pew_Pew Posted March 17, 2010 Share Posted March 17, 2010 Suzy Orman is a dyke. A smart dyke. I luff her. Quote Link to comment Share on other sites More sharing options...
fat ralphy Posted March 17, 2010 Share Posted March 17, 2010 Americanfunds.com Stack your racks.. I recommend the Roth IRA Quote Link to comment Share on other sites More sharing options...
Pew_Pew_Pew Posted March 17, 2010 Share Posted March 17, 2010 ^ Ooo I have that one from a previous job. 401k tho... Need to start contributing again. Quote Link to comment Share on other sites More sharing options...
alnano Posted March 17, 2010 Share Posted March 17, 2010 How do you know you're credit score? Is it really necessary to sign up at freecreditreport.com? I'm 21 and I'm trying to move you but I don't wanna talk alotta shit and get denied on the basis of my credit. [/color] Free credit report is a scam don't sign up it's not free. But dang I wish I bought a house for 100k. I'd be set. Quote Link to comment Share on other sites More sharing options...
jugzer Posted March 17, 2010 Share Posted March 17, 2010 so i recently started looking into the concept of compound interest. great idea. now what kind of account do i have to put my money in to get it to compound? Quote Link to comment Share on other sites More sharing options...
thequeen Posted March 18, 2010 Share Posted March 18, 2010 here is what you do: look into gettin a ROTH IRA. the most you can put in a year is 4k, but myself and most people only put in 2k a year. tax free, govt cant touch. you leave this be and add till you retire, youll have a large amount that you can live off the rest us of your life. as for CLICK CLAK (didnt read threw all the posts) usually is 10% down. so 95k = 9.5k and you have that. def get subleters during your off months from each. Quote Link to comment Share on other sites More sharing options...
hotsauceinthedickholewastaken Posted March 19, 2010 Share Posted March 19, 2010 It's official!!!! I'm finally debt free! payed off the last part of my student loan, feels so good...(sorry I'm excited) 1 Quote Link to comment Share on other sites More sharing options...
mr.feeny Posted March 22, 2010 Share Posted March 22, 2010 i have yet to open up a bank account and i was wondering which bank is better:bank of america or chase?. if you guys wouLdn't mind teLLing me the perks of each bank i wouLd appreciate it. Quote Link to comment Share on other sites More sharing options...
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