On 3/9/2015 10:53 AM, DecadentLinuxUserNumeroUno wrote:
> On Mon, 09 Mar 2015 08:55:48 -0500, amdx wrote:
>
>> (a little over the top huh) acting like money is no object (cause your
>> rich and your time is worth way more than a the cost of a computer).
>
> No I am not rich. But a cheap sub 100 dolar mobo is a lame thing to
> fix. MAYBE if it gets up around $200 or more... maybe then.
>
>> And
>> then I read you borrowed $1200 for a Laser Player, at 27% yet.
>
> Yeah, that's what a kid fresh out of high school does to establish
> credit, idiot.
>
> High APR loans were the norm then for first time folks, and still are in
> places like "rent to own" stores, but it is those same places young folks
> get their credit lines started in.
Rent to own is just plain stupid. Go without, save your money for a
year, then never go into debt again (House exception). When I did VCR
repair, I'd get Rent-to-own VCR's for warranty repair, the receipts
showed people paying just over $1,000 for a $239 VCR.
They say that over half the population can't round up $1,000. That is sad.
http://money.cnn.com/2011/08/10/pf/emergency_fund/
A four years dated, but we are still in the Obama economy, I don;t think
it has got any better.
> You and your $1000 loan is a lame example because you backed it 100%
> with a bank balance as collateral.
>
But it showed up on my credit rating as a paid off loan, it didn't say
anything about the collateral. I will admit though 30 years later I
don't know what my credit score would be, all my normal bills are paid
on time, but I haven't borrowed any money for at least 23 years, other
than using a credit card. Recently Wells Fargo had a deal to get a free
credit score, I signed up and when I called to get it, they said I'd
need to do it by mail, I'm sure there wasn't enough data for them to
work with.
> That is an example of how it was NOT typically done by folks with less,
> so it is YOU who likely was more "rich" than I at the time.
Far from rich, but we lived on less than we earned, that has great
rewards if you do it for 30 years.