Quoting widescreenforever:

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Quoting Srehtims:

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Quoting widescreenforever:

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I'm surprised out of 330 million people these two are the only runners for President of the United States..  Between your upcoming election, economic 'big time' worrys, and the War in the middle east, I see big change alll right but not good change..

We are deep horse pucky no matter who wins.
Neither party been financially responsible in my life time.

Here is the only buy out plan I've seen that I like.

I believe it worth a try.


OK.....here's a plan I could live with.


Instead, I'm in favor of giving $85,000,000,000 to America in a We Deserve It Dividend. 

I thought the bailout was $ 700 Billion? 

apart from this let's play a little game.. 
For 5 days  or even three days.. can you live without credit or plastic  just cash?
remember to keep enough cash out for Gasoline fills / meals / food /clothing ....  the list goes on..
I couldn't do it as I pay off my cards ( or most of them ) and then go back on that plastic wheel again for the next 30 days.. 

Do you have a checking account? If so, ask your bank for a debit card on that checking account and use it instead of your credit cards. It will work the same as a check does so you need to make sure not to spend more than what you have in the account.

Quoting Dan W:

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Do you have a checking account? If so, ask your bank for a debit card on that checking account and use it instead of your credit cards. It will work the same as a check does so you need to make sure not to spend more than what you have in the account.

Well this is just it..,,  What I'm saying is in order to get to the front of the line,, I'd have to forgo all payments to CC and with that cash in hand is  to be used over the next thirty days..
Now where is the cash going to come to pay the cards up front and have enough money left over??

Quoting widescreenforever:

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Quoting Dan W:

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Do you have a checking account? If so, ask your bank for a debit card on that checking account and use it instead of your credit cards. It will work the same as a check does so you need to make sure not to spend more than what you have in the account.

Well this is just it..,,  What I'm saying is in order to get to the front of the line,, I'd have to forgo all payments to CC and with that cash in hand is  to be used over the next thirty days..
Now where is the cash going to come to pay the cards up front and have enough money left over??

That's a little more personal information than I expected to see on this forum but as long as you're putting it out there for everyone to see, here is something you should try.


Your short term goal (as soon as possible) needs to be to quit living on the credit card. It is costing you more than you realize and many checking accounts are free. At least right now they are free but I would expect that to change soon.

1) begin paying a small(er) amount (just more than the minimum) on the card and put your cash in your checking account.

2) Use the checking account for your daily expenses.

3) NEVER make a late payment to the credit card.

4) Pay off the card as quickly as your income will allow.

There are a lot of predictions on what is about to happen to the credit system but most agree that rates will go up while the limits will come down. This means that living on your credit card will cost more in the near future and it may reach a point that your limit may not be enough to live on. Credit cards are set up on a payment system. Use this to your advantage and quit giving them a portion of your grocery bill. Once the card(s) is/are payed off use it for larger purchases. By all means continue to use the card but don't use it for your daily expenses.

Regardless of the economy, it is never a good idea to use the credit system for your normal everyday expenses.

A gas card (or using one as a gas card) can help build credit if that is your goal. I have a couple gas cards myself that I use on road trips. In building credit they can be useful but typically, you should not use credit cards for everyday expenses.

Quoting Rico:

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Hi Guys,

Twist on CC (credit cards), for years the only card I've used (for everything gas, groceries, etc) is American Express, why:

1. At the end of the month you must pay it off.
2. You accumulate points
3. Automatic doubling of Mfgs. warranties!

Now that retirement is here I'll spend those points, for a trip perhaps Europe!

Take Care
Rico

Why would I not expect to see this?    I just used a bunch of points to carpet my theater.

While there are many of us who have American Express cards and use them in diversified ways, this example doesn't serve the issue Terry posted.

Edit:
Just for clarity, I do not use my credit cards for daily expenses. It costs too much.

Quoting Srehtims:

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Quoting widescreenforever:

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I'm surprised out of 330 million people these two are the only runners for President of the United States..  Between your upcoming election, economic 'big time' worrys, and the War in the middle east, I see big change alll right but not good change..

We are deep horse pucky no matter who wins.
Neither party been financially responsible in my life time.

Here is the only buy out plan I've seen that I like.

I believe it worth a try.


OK.....here's a plan I could live with.

I'm against the $85,000,000,000.00 bailout of AIG.

Instead, I'm in favor of giving $85,000,000,000 to America in a We Deserve It Dividend. 

To make the math simple, let's assume there are 200,000,000 bonafide U.S.
Citizens 18+. 

Our population is about 301,000,000 +/- counting every man, woman and child.
So 200,000,000 might be a fair stab at adults 18 and up..

So divide 200 million adults 18+ into $85 billon that equals $425,000.00.

My plan is to give $425,000 to every person 18+ as a We Deserve It Dividend.

Of course, it would NOT be tax free.

So let's assume a tax rate of 30%.

Every individual 18+ has to pay $127,500.00 in taxes.

That sends $25,500,000,000 right back to Uncle Sam.

But it means that every adult 18+ has $297,500.00 in their pocket.

A husband and wife team has $595,000.00.

What would you do with $297,500.00 to $595,000.00 in your family?

Pay off your mortgage - housing crisis solved.

Repay college loans - what a great boost to new grads

Put away money for college - it'll be there

Save in a bank - create money to loan to entrepreneurs.

Buy a new car - create jobs

Invest in the market - capital drives growth

Pay for your parent's medical insurance - health care improves

Enable Deadbeat Dads to come clean - or else

Remember this is for every adult U S Citizen 18+ including the folks who
lost their jobs at Lehman Brothers and every other company that is cutting
back. And, of course, for those serving in our Armed Forces.

If we're going to re-distribute wealth let's really do it...instead of
trickling out a puny $1000.00 ("vote buy") economic incentive that is being
proposed by one of our candidates for President. 

If we're going to do an $85 billion bailout, let's bail out every adult U S Citizen 18+!

As for AIG - liquidate it.

Sell off its parts.

Let American General go back to being American General.

Sell off the real estate.

Let the private sector bargain hunters cut it up and clean it up. 

Here's my rationale. We deserve it and AIG doesn't. 

Sure it's a crazy idea that can "never work."

But can you imagine the Coast-To-Coast Block Party!

How do you spell Economic Boom?

I trust my fellow adult Americans to know how to use the $85 Billion

We Deserve It Dividend more than do the geniuses at AIG or in Washington DC.

And remember, The Birk plan only really costs $59.5 Billion because $25.5
Billion is returned instantly in taxes to Uncle Sam.

Ahhh...I feel so much better getting that off my chest.

Kindest personal regards,

Birk

T. J. Birkenmeier, A Creative Guy & Citizen of the Republic

This is new math.  $85B divided by 200M people would be $425 per person....NOT $425,000.00

That's a great indicator of the state of our educational system today!!!!!

Quoting Rico:

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Now that retirement is here I'll spend those points, for a trip perhaps Europe!

Take Care
Rico

And Europe would be more than happy to see you! Just remember though, if anyone asks...



... say you're Canadian!   

Quoting hal9g:

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Add in elimination of the separation between banking and investment firms, the incompetence and lack of oversight of Fannie Mae and Freddie Mac, the greed of corporate investment managers and voila.....here we are.

And when the Republicans tried to pass legislation to put controls on Fannie and Freddy, the Democrats shot it down.  So now, according to Nancy Pelosi, the problem was the fault of 8 years of "failed Republican policies."  Well, that isn't the whole truth.  It was the Democrats who in recent years had the votes -- and used them -- to stop putting controls on Fannie/Freddie/et. al.

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Personally, I say let capitalism work.  Survival of the fittest.  If that means another depression, then so be it.  It's about time that the general practice of relying on credit to cover day  to day living expenses is corrected.

I'm sorry, but it is time to pay the piper.  The government has no business getting into the middle of this!

I agree that it's time to pay, but the government does have some responsibility to try and get us out of the mess they contributed to us being in.  The bill that died yesterday deserved to die, but that doesn't necessarily mean that nothing SHOULD be done.