I'm down with having 7,500 in savings and having it available in credit too. Especially if the $7,500 in savings is making little babies. Because that would make it unnecessary for $7,500 in debt to make its own bigger babies.
I'm watching a bunch of Mission: Impossibles. Apart from stoking the Nimoy love, it's made me wonder: how is the premise best pitched? I find it doesn't really generate any tension for me. This may be because of a certain snobbishness I retain towards late 60s TV. I do find the plots pretty hard to follow, since I'm used to a more audience-friendly setup of the protagonist's plans. Perhaps I should get over the afore-mentioned snobbishness.
What fruits other than apple have lots of water and lots of fibre?
Trudy, I'm impressed.
About Caroline's not the boss being a fucker
Citrus if you eat the white parts?
Berrys.
David, I'm not sure what your friend is getting at about relative ease of access. I have more credit card credit than I could ever pay off if I actually used it. If I used it all, I would have a hard time paying the interest payments. However, I could take some of the money that I'm not paying to someone else in interest payments and save it, so for me, savings is easier and less risky than credit.
I think his argument is that having $7,500 in credit is worth more than having $7,500 in savings. Because the $7,500 you have in savings could be invested in a higher yield that brings you money, and you'd still have the credit.
Also, he thinks the idea of "financial emergency" - while resonant - is actually overstated/overvalued.
Anyway, I won't flog the horse. I'm just putting his argument out because I think it's an interesting refutation of the conventional wisdom about finance.
The Caroline's thing is sweet, Erika.
The voiceover reel is even sweeter -- I'm being "groomed" a bit and all that. By a casting director of some note who needs comedic women and is tired of hearing reels he thinks are crap.
Oh, and if Richard Belzer's hair has gone white I saw him in a health food store today.
I should maybe have added that I also don't have credit card debt. My stupidity is savings vs things that might well make me more money but are riskier.
eta:
David, I'm not sure what your friend is getting at about relative ease of access. I have more credit card credit than I could ever pay off if I actually used it. If I used it all, I would have a hard time paying the interest payments. However, I could take some of the money that I'm not paying to someone else in interest payments and save it, so for me, savings is easier and less risky than credit.
In other words, this is me.
My stupidity is savings vs things that might well make me more money but are riskier.
His point is that risk can be calculated (in dollar amounts) and that your return (including the financial ability to absorb emergencies) is much, much higher with investments over savings.
He's such a Spock and so logical about it, I don't know if his advice will ping people who are dealing with an emotional or fearful relationship to money (as most people do). But I truly believe that he understands finance better than conventional wisdom.
Because ultimately finance is only odds - just like a casino. The numbers will play out.
Jack Chick comic
Why do I always forget what those are until I've clicked?
I guess these are the factors I see in choosing to empty your savings to pay off credit.
1) paying off credit cards frees up cash - that you can use to for day to day life. very good.
1a) empty CC - gives room in an emergency
2) if today you pay off your credit card and tomorrow you have to buy tires ( 600.00 for my car) how many months would you take it you to pay it off? one or two - a good deal. three or four, then the odds maybe be that you need to leave an emergency amount in savings.
here is my new thought based on the idea that too much credit card debt is bad, but a small amount of revolving credit might help you in the long run. sort of modified from the person Stephanie was talking about a couple of weeks ago and the stuff that is being suggested by David's friend.
assuming that you have a savings account - how much has it fluctuated over the last year? None - throw it all at your CC now, you aren't using it. But say it fluctuates by - oh lets just pick an arbitrary number- 4000.00 dollars - that's what should be in your emergency fund.
Trudy , DH wants to know, which captain Jack?
What fruits other than apple have lots of water and lots of fibre?
I think pears may be pretty high in fiber. They're certainly watery. And nummy.
Am I the only one who thinks Mike Birbiglia is cute as a button?
