Debt/Spending, too much?

Freebore · 08-04-2006, 10:34 PM

I think that this is a relevant subject, and it is something that effects all of us. Am I spending too much? Myself,I for one feel that I am cought in the "Consumer Trap", and want to be more aware of how much is spent, vs. how much is not really needed. From that point I will decide what to trim back. Things are starting to "tighten up", and whatever way you look at it, this could be a matter relative to preparedness, or even survival someday. What do "You" think?

**sniper69** · 08-04-2006, 11:30 PM

It is easy to want to buy and buy (especially in the gun hobby), but some sort of limit needs to be placed as to how much is just right versus how much is to much. This goes for other hobbies and things in life as well. Trying to be debt free is something everyone should try for. Although it isn't easy, having a budget and sticking to it is one way to see where expenses are going.

**BigAl** · 08-05-2006, 10:11 AM

yep, i spend waaaaay too much on this hobby. i ordered 13,000 rounds of ammo yesterday because it was a good deal and i know how prices are going through the roof. i guess i justify it on the basis i could sell it all and probably make a 50% return on my investment. could be worse, i could have bought a bass boat...

Icarus · 08-05-2006, 04:44 PM

you gotta pay to play!
as bad or worse than fishing.

**555th** · 08-05-2006, 06:35 PM

I've never seen any money spent on weapons or bulk ammo as being wasted....usually it's money well spent....and what you paid for it now will be half of what it costs in 3 or 4 years.

dutigaf · 08-05-2006, 08:53 PM

gotta agree although i do have to cut back.... as far as being debt free: i got a house payment and a carpayment. but thats it. if i do put something on acredit card i pay for it the next month...

well shit i forgot. my wife did come with the dreaded student loans... lol

and if the economy fails money and debts wont mean anything anyway. the guys with the guns will still get what they need. and my family will not be starving to death.

although if you dont know how to garden or hunt it is a good thing to learn..

country boys can survive!!!

tony pasley · 08-07-2006, 09:34 PM

i started paying myself $1.00 a day for working in april 1966 and still do it today, started investing in gold, stocks and money market. i can pay off everything but house, keep credit cards to $00.00 but have available if needed. house and vechile payments will be with you always the rest is up to you.

valencourt · 08-08-2006, 08:36 AM

Before Y2K everyone was talking about paying off all your debts to be in the best possible shape for, well, whatever it was they were expecting at the time. I think that's still an excellent idea, which I have done my best to do for the last 7 years.

It's one thing to spend and then pay it off every month, and another thing entirely to spend and spend and get deeper into debt, particularly credit card debt.

Just before getting married in 2003, I had everything paid off - house, car, everything. But then my wife just informed me this year -- VERY reluctantly, I might add -- that she had racked up $17,000 debt on 2 credit cards that she had no chance in hell of paying off. What's more, she didn't go on a spending spree to do it, just stuff we wanted or needed that she didn't have the money for, cash advances (at about 32% interest), and her nicorette habit ($200 - $300 a month.) Not a word of this to me until her cards were basically maxxed out, each card with an outrageous interest rate.

To minimize the damage, I decided to transfer both balances to my own card at4.99% interest, but now I'm stuck paying it off. Oh yeah, and I destroyed her 2 credit cards. To her credit, she stopped the nicorette gum and got another part-time job.

So yes, there's a definate "Consumer Trap" to be fallen into. And for all you guys with wives, it doesn't ever matter how hard you try if she's trying to show how "independent" she can be behind your back.

Women . . . ?!@\

Freebore · 09-10-2006, 10:47 PM

Did I say "Consumer Trap"?? Here I am, just about to pay off a consolidated credit card loan that I have been paying down for about six years now, and it's about done!!! This will free up $700.00+ per month for me and I'm thinking about buying another Harley Davidson! Well, I am reconsidering my impulses, and looking for more practical ways to use that money to build some greater financial independance. I tell Ya, it's a Disease..

**pirate56** · 09-11-2006, 08:28 AM

Living below your means is a good way to go. keep your debts to a minimum and put money in savings every week. I have an automatic deposit and don't miss the money because I don't get to see it. I am fortunate in that my home and car are paid for and don't have any debt except for my hobby on low interest credit cards that I can pay off at any time. Being solvent takes a big load off your mind.