Tough Decision this morning

[bret]

Today I recieved my ASE recertification bonus from work. planed on the 7 EMP kit for a B day present to me (today), but decided to pay off credit cards instead. at 24% these card companys are ripping off the American people, (another thread), well maybe in a few more months. wish me luck

[DeltaRomeo]

Sounds like you have a good plan there, Bret. You'll get that RV kit soon my friend.

This made me think of a hilarious SnL skit that I saw a couple years ago. Just searched for it and found it online HERE (Don't buy stuff you can't afford - it's in the book....it's only one page long).

Putting my own RV spin on this, I wrote an article many moons ago on how I paid for my RV.

I predict you'll have a RV kit sooner than you think, and the fiscal mindset you displayed in your post just reinforces this belief.

[apatti]

Bret,
DEFINITELY the right decision! Congratulations. I agree with Doug. You'll get that emp kit sooner than you think and you will be able to enjoy it all the more!

[bret]

Originally Posted by DeltaRomeo

Sounds like you have a good plan there, Bret. You'll get that RV kit soon my friend.

This made me think of a hilarious SnL skit that I saw a couple years ago. Just searched for it and found it online HERE (Don't buy stuff you can't afford - it's in the book....it's only one page long).

Putting my own RV spin on this, I wrote an article many moons ago on how I paid for my RV.

I predict you'll have a RV kit sooner than you think, and the fiscal mindset you displayed in your post just reinforces this belief.

Now that is some funny Sh!OT ! I'm still laughing!

[aviationgeek84]

Well done, Bret. It'll make everything that much sweeter in the end.

[Jamie]

Great decision, Bret. All things in due time. I probably agree with you about our friendly neighborhood creditors, which is why I haven't paid them a dime of interest in more than 10 years. If you are careful enough you can learn to use them for your advantage. Let me explain.

I had an MBNA credit that I purchased almost everything for my RV on. I didn't buy anything unless I could pay the full balance of the credit bill at the end of each month. MBNA had a great points program and I racked them up. Bank of America bought MBNA so of course my card converted to a BoA card. BoA, in an effort to convert customers over to their points program offered DOUBLE points if you cashed out. I did just that. I had $900.00 cash value in points and with the double points I received a check for ~$1800.00. Soon after, BoA gave me a 35 day billing cycle, then a 15 day, then a SEVEN DAY cycle in an attempt to make me late on my payment, so you have to be careful with them (BTW: if you make a credit card payment at a Bank of America branch is takes 7 days to post to your account...another dirty trick). They play dirty. I don't tolerate that and of course cancelled my card for their devious behavior.

[PETERD]

Good decision Bret. The tools can actually be more expensive than the first kit so think about this as well or start buying them one at a time.
Jamie, you have that right about BOA . They must be hurting. I'm going through a decision right now to get rid of BOA altogether. We just got them to repay us for about $300.00 in fees that we were not supposed to be charged. See you on Sat

[bret]

In fact I do have a B of A C.C. had a perfect track record with them, one day went from 17% intrest to 24% they are trying to recoop the $ form peps that filed BK.

[John Clark]

Originally Posted by Jamie

Great decision, Bret. All things in due time. I probably agree with you about our friendly neighborhood creditors, which is why I haven't paid them a dime of interest in more than 10 years. If you are careful enough you can learn to use them for your advantage. Let me explain.

I had an MBNA credit that I purchased almost everything for my RV on. I didn't buy anything unless I could pay the full balance of the credit bill at the end of each month. MBNA had a great points program and I racked them up. Bank of America bought MBNA so of course my card converted to a BoA card. BoA, in an effort to convert customers over to their points program offered DOUBLE points if you cashed out. I did just that. I had $900.00 cash value in points and with the double points I received a check for ~$1800.00. Soon after, BoA gave me a 35 day billing cycle, then a 15 day, then a SEVEN DAY cycle in an attempt to make me late on my payment, so you have to be careful with them (BTW: if you make a credit card payment at a Bank of America branch is takes 7 days to post to your account...another dirty trick). They play dirty. I don't tolerate that and of course cancelled my card for their devious behavior.

I had exactly the same experience. I ran a lot of money through my MBNA account without an issue and collected a bunch of points by always paying the bill. Then came the B of A. I bailed out of that silliness and got a Visa card through my credit union. Superb service, zero fees. As Jamie said, the trick is to take advantage of the system, not pay any interest and get the "perks' that you would miss by paying cash.

In 1970 a group of protesting students torched a BofA branch in Isla Vista, near the Santa Barbara Airport. I don't condone the behavior but I was amused a little later when an older, very wealthy, conservative friend of mine said "I've been wanting to do that to those bas**ds for years." I am a big fan of the movement to use local banks and credit unions.

John Clark
RV8 N18U "Sunshine"
KSBA

[Phil]

Great move, Bret.......

The airplane will be much easier and less of a burden in the long run....

Keep after the debt and hang on to the dream of the 7.

Congrats on a good decision.
Phil