Just paid off my last credit card

Feels good. Suck it, Congress.


Never again.

 

Bravo sir.

 

now get an american express blue cash reward card and start getting paid to use credit cards rather than the other way around.

 

That's big time. Congrats

 

Wait, what? I'm listening.


You are dead on about something, and need to give you kudos. I was able to do this because I've been working 60+ hours a week these past few months while in a rut academically. Was teaching, tutoring, and delivering pizzas. Doesn't matter that the pay for all sucks if one is working enough hours. It adds up.

EDIT: also did some mercenary lab work, but that doesn't pay much either.

 

Congrats!

 

Congrats, man.

I just treat my credit cards like debit cards. Dont spend unless I have it in the bank. I just like the 1-5% cash back I get.

 

I used them to get me through some lean stretches in undergrad, rationalizing that I would have no problem paying them off when I am "finished" and "have a good job." 8 years later, I realized I may never "have a good job" and that it was just an excuse. I hadn't been using them for years, but slowly paying down thousands of dollars is idiotic when you look at the interest. About half a payment was interest.

 

Nice job, IP!

 

You're not following the American way of consumer debt and buying shit that you don't need. How are we ever going to improve the GDP

 

I basically use my Amazon CC as a debit card. Thing is always paid off at the end of the month and I get cash back on every purchase with no caps.

 

I feel this way about my house payment.

And congrats to you.

 

I didn't mean to come across preachy. Sorry if it did. Just sharing how I use credit cards.

 

1% cash back on everything
2% on groceries
5% on gas

i have the blue cash preferred which costs $100 a year. if you don't spend much get the one with zero annual fee. the groceries itself for me pays for the fee many times over, but i spend a lot on groceries.

 

deductability and leverage are what makes home ownership a far far better use of your money.

 

That's awesome IP. Really respect the initiative to bust that shit out.

 

What do you mean by leverage?

 

IP - are you finishing up school or what is the career plan?

 

Say you put 20% down on a $100K house. That means you invested $20K right? Say the house goes up in value to $120K. Your $20K is now worth $40K ($120K - $80K borrowed). So a 20% increase in your house price grows your money by 100%. Try doing that with any other investment. Combine that with the fact you can borrow at 4% and deduct the interest off your taxes and having a mortgage is a great investment. Assuming of course you don't spend the difference. Many people need a forced savings.

 

thanks