 |
|
|
|
|
|
| |
| |
|
|
|
|
| |
| |
|
|
"Jim Henderson" <nos### [at] nospam com> wrote in message
news:489b2bbd$1@news.povray.org...
> On Thu, 07 Aug 2008 09:49:24 -0700, Darren New wrote:
> But using that money appropriately is the key - using it to enhance the
> value of the property through improvements seems to be the best route to
> go.
I think that has 'always' been the way to go. I know if I want, (and
NEED), a new roof for my place, then your mother bank is the person to ask.
I think you'll probably always get it. (Well, as long as you've never been a
defaulter, that is).
~Steve~
> Jim
Post a reply to this message
|
|
| |
| |
|
|
|
|
| |
| |
|
|
On Thu, 07 Aug 2008 18:43:01 +0100, St. wrote:
> "Jim Henderson" <nos### [at] nospamcom> wrote in message
> news:489b2bbd$1@news.povray.org...
>> On Thu, 07 Aug 2008 09:49:24 -0700, Darren New wrote:
>
>> But using that money appropriately is the key - using it to enhance the
>> value of the property through improvements seems to be the best route
>> to go.
>
> I think that has 'always' been the way to go. I know if I want, (and
> NEED), a new roof for my place, then your mother bank is the person to
> ask. I think you'll probably always get it. (Well, as long as you've
> never been a defaulter, that is).
Yep - as long as you've got good credit (both in general and with the
bank), that goes a long ways.
Jim
Post a reply to this message
|
|
| |
| |
|
|
|
|
| |
| |
|
|
On Tue, 05 Aug 2008 18:14:54 -0700, Darren New <dne### [at] sanrrcom> wrote:
> and how many do you think already know you need a head-shot?
Oh! Thanks, next time I'm in the Caribbean I'll remember that :)
I hope.
--
Regards
Stephen
Post a reply to this message
|
|
| |
| |
|
|
|
|
| |
| |
|
|
Jim Henderson wrote:
> On Thu, 07 Aug 2008 09:49:24 -0700, Darren New wrote:
>
>> Jim Henderson wrote:
>>> I don't want to owe that
>>> kind of money on an unsecured loan of any kind. I'd much rather have
>>> things paid off (that's a really good feeling to have).
>> That's good. But better an unsecured loan than a secured loan! :-)
>
> Well, from a credit standpoint, a secured loan like an equity line (where
> the "security" is the property) makes good sense.
Sure. I just meant that all else being equal, having the person you owe
money to being unable to do something about it if you don't pay them
back is a good thing. :-)
Of course, it's easier to get a lower rate and more money on a secured
loan.
> I have heard some
> people use the equity in their homes to make money (by investing it), but
> that seems a little risky to me.
Everything that makes you money is risky. It's a matter of whether the
payment is worth the risk.
> But using that money appropriately is the key - using it to enhance the
> value of the property through improvements seems to be the best route to
> go.
It certainly doesn't hurt. Even better is saving up, *earning*
interest, *then* putting the roof on, if you can wait.
> types of "secured" credit cards (where you pay money as a security
> deposit and then your limit is set to what you put down as a deposit).
The quotes shouldn't be around "secured" but around "credit" there. It
isn't a credit card if you're not borrowing the money.
--
Darren New / San Diego, CA, USA (PST)
Ever notice how people in a zombie movie never already know how to
kill zombies? Ask 100 random people in America how to kill someone
who has reanimated from the dead in a secret viral weapons lab,
and how many do you think already know you need a head-shot?
Post a reply to this message
|
|
| |
| |
|
|
|
|
| |
| |
|
|
St. wrote:
> That's exactly what I do. I hope they never get rid of cash,
They can't. There's huge portions of the economy that are actually
black-market. :-)
Alternately, they already have. There's no cash left. All that's left is
debt and federal reserve notes.
--
Darren New / San Diego, CA, USA (PST)
Ever notice how people in a zombie movie never already know how to
kill zombies? Ask 100 random people in America how to kill someone
who has reanimated from the dead in a secret viral weapons lab,
and how many do you think already know you need a head-shot?
Post a reply to this message
|
|
| |
| |
|
|
|
|
| |
| |
|
|
On Thu, 07 Aug 2008 11:37:46 -0700, Darren New wrote:
> Jim Henderson wrote:
>> On Thu, 07 Aug 2008 09:49:24 -0700, Darren New wrote:
>>
>>> Jim Henderson wrote:
>>>> I don't want to owe that
>>>> kind of money on an unsecured loan of any kind. I'd much rather have
>>>> things paid off (that's a really good feeling to have).
>>> That's good. But better an unsecured loan than a secured loan! :-)
>>
>> Well, from a credit standpoint, a secured loan like an equity line
>> (where the "security" is the property) makes good sense.
>
> Sure. I just meant that all else being equal, having the person you owe
> money to being unable to do something about it if you don't pay them
> back is a good thing. :-)
>
> Of course, it's easier to get a lower rate and more money on a secured
> loan.
Oh, ISWYM. And yes, good point.
>> I have heard some
>> people use the equity in their homes to make money (by investing it),
>> but that seems a little risky to me.
>
> Everything that makes you money is risky. It's a matter of whether the
> payment is worth the risk.
True. I know that some loans do prohibit certain uses of the money, but
that seems *generally* easy to get around - you don't use the loan money
for investing, but you use it to pay for what it's allowed for, freeing
up other money for investment. I suspect those types of restrictions
would be very difficult to enforce.
>> But using that money appropriately is the key - using it to enhance the
>> value of the property through improvements seems to be the best route
>> to go.
>
> It certainly doesn't hurt. Even better is saving up, *earning*
> interest, *then* putting the roof on, if you can wait.
Of course. Most people find it difficult to save up the $14K that we had
to spend (total tear-off and replace). But most people are very poor
money managers. :-)
>> types of "secured" credit cards (where you pay money as a security
>> deposit and then your limit is set to what you put down as a deposit).
>
> The quotes shouldn't be around "secured" but around "credit" there. It
> isn't a credit card if you're not borrowing the money.
True....
Jim
Post a reply to this message
|
|
| |
| |
|
|
|
|
| |
| |
|
|
Jim Henderson wrote:
> True. I know that some loans do prohibit certain uses of the money,
The only restrictions I've ever seen are for gambling (which is more a
legal restriction) and for paying a "down payment" (because, you know,
the point of the down payment is it's the part you didn't borrow).
> Of course. Most people find it difficult to save up the $14K that we had
> to spend (total tear-off and replace). But most people are very poor
> money managers. :-)
Depends how much you make, too, I guess. I'm pretty conservative with
savings.
--
Darren New / San Diego, CA, USA (PST)
Ever notice how people in a zombie movie never already know how to
kill zombies? Ask 100 random people in America how to kill someone
who has reanimated from the dead in a secret viral weapons lab,
and how many do you think already know you need a head-shot?
Post a reply to this message
|
|
| |
| |
|
|
|
|
| |
| |
|
|
On Thu, 07 Aug 2008 11:56:57 -0700, Darren New wrote:
> Jim Henderson wrote:
>> True. I know that some loans do prohibit certain uses of the money,
>
> The only restrictions I've ever seen are for gambling (which is more a
> legal restriction) and for paying a "down payment" (because, you know,
> the point of the down payment is it's the part you didn't borrow).
I vaguely recall seeing something about investing in one set of paperwork
I looked at (not the one we agreed to).
>> Of course. Most people find it difficult to save up the $14K that we
>> had to spend (total tear-off and replace). But most people are very
>> poor money managers. :-)
>
> Depends how much you make, too, I guess. I'm pretty conservative with
> savings.
Yeah, we tend to run closer to the edge than I'd like. Part of the
challenge is when you make the transition from "not making much" to
"making enough to save some" is that you've got to pay off what you've
borrowed while in the "not making much" phase. Many people (myself
included) don't learn until after you get to the "making enough to save
some" how to really manage money.
Money management is something that I think *should* be taught in school,
though - there are so many "life skills" that kids coming out of high
school (or college for that matter) don't have but should; that's one of
them.
Jim
Post a reply to this message
|
|
| |
| |
|
|
|
|
| |
| |
|
|
Jim Henderson wrote:
> Money management is something that I think *should* be taught in school,
Yeah. I never understood why "home economics" never taught any economics.
--
Darren New / San Diego, CA, USA (PST)
Ever notice how people in a zombie movie never already know how to
kill zombies? Ask 100 random people in America how to kill someone
who has reanimated from the dead in a secret viral weapons lab,
and how many do you think already know you need a head-shot?
Post a reply to this message
|
|
| |
| |
|
|
|
|
| |
| |
|
|
On Thu, 07 Aug 2008 12:50:09 -0700, Darren New wrote:
> Jim Henderson wrote:
>> Money management is something that I think *should* be taught in
>> school,
>
> Yeah. I never understood why "home economics" never taught any
> economics.
LOL, you know, I never thought of it that way, but you're right....
Cooking and sewing on buttons are useful skills, but only if you can
afford the equipment for either of those activities. :-)
Money management definitely should fall in there somewhere. How to
balance a checkbook, schedule payments, do financial planning, set goals
and figure out how to meet them.....I'm sure there are others.
Jim
Post a reply to this message
|
|
| |
| |
|
|
|
|
| |
|
|
