Do you have adblock enabled?
If you can read this, either the style sheet didn't load or you have an older browser that doesn't support style sheets. Try clearing your browser cache and refreshing the page.

(The Real Ric Romero)   Many people spend money they don't have during the holidays. One way you can avoid extra fees is to pay your bills on time. It's not fiscal responsibility, it's Ric Romero's consumer tips   (abclocal.go.com) divider line 61
    More: Obvious  
•       •       •

2033 clicks; posted to Main » on 28 Dec 2010 at 11:12 PM (4 years ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



61 Comments   (+0 »)
   

Archived thread

First | « | 1 | 2 | » | Last | Show all
 
2010-12-28 11:16:13 PM  
Quick, to the Romerocopter!
 
2010-12-28 11:16:34 PM  
Is it fiscally responsible if I knock up liquor stores to do so?
 
2010-12-28 11:19:23 PM  
That's not how America works, commie.
 
2010-12-28 11:21:16 PM  
Ikam: Is it fiscally responsible if I knock up liquor stores to do so?


State run or privately owned?

Cause one is socialism and the other is the an aspect of the free market.
 
2010-12-28 11:22:09 PM  
no farking shiat...

/but that won't stimulate the economy or enrich the plutocracy.
 
2010-12-28 11:24:10 PM  
<smug>
As of tomorrow evening I will be 'sorta' debt free. The only debt I will have remaining is my mortgage, my zero percent car loan (no reason to pay that off early!), and about $200 left on a credit card so I always have a rotating balance (I call that the good credit score tax).

I paid for all my holiday stuff with cash :-)
</smug>

/Once upon a time I was BURIED in debt...all my irresponsible dumbass fault....and I unfarked that all on my own
 
2010-12-28 11:24:21 PM  
Sadly, there are people out there who need reminded that bills do need to be paid, preferably by the due date. Of course, the people who "forget" to pay are usually the ones who spend money they don't have.
 
2010-12-28 11:26:34 PM  
KidneyStone: <smug>
As of tomorrow evening I will be 'sorta' debt free. The only debt I will have remaining is my mortgage, my zero percent car loan (no reason to pay that off early!), and about $200 left on a credit card so I always have a rotating balance (I call that the good credit score tax).

I paid for all my holiday stuff with cash :-)
</smug>

/Once upon a time I was BURIED in debt...all my irresponsible dumbass fault....and I unfarked that all on my own


You don't need to carry a balance to maintain a good credit score. Pay that sucker off.
 
2010-12-28 11:28:41 PM  
Ikam: Is it fiscally responsible if I knock up liquor stores to do so?

Up? You're doing it wrong.
 
2010-12-28 11:28:41 PM  
FTFA :
"Under the law, they can charge a fee if it's for an immediate posting or an almost immediate posting and there's a customer representative involved," said Nessa Feddis of American Bankers Association.

I heard you like charging fees

www.imusicdaily.com
 
2010-12-28 11:31:46 PM  
Had I the PS skills, I'd turn Ric* into the superhero Obviouso. Yes, it sounds hispanic, but Captain Obvious has already been taken.

*Seriously, any dude named Richard who goes by "Ric" is an automatic bag full of pretentiousness. C'mon..."Ric"?...Really? I had an RA in undergrad school who spelled his name "Ric", and he was a huge douche. Any Farker (Total or otherwise) who spells his name "Ric" is my enemy.

/"Ric"... You rotten douchebag.
 
2010-12-28 11:33:02 PM  
A lot of people I know haven't figured that out. It really is good advice.
 
2010-12-28 11:34:20 PM  
dustman81: You don't need to carry a balance to maintain a good credit score. Pay that sucker off.

I still don't know where that myth comes from. It's similar to the one about having as many lines of credit as possible.
 
2010-12-28 11:34:38 PM  
Bunnyhat: State run or privately owned?

I'm only vaguely familiar with the concept of state run liquor stores, which seems bizarre to me, the one I go to is usually staffed by a fairly decent dude named, ironically, given the historic opposition to liquor consumption of his namesake, Mohammed.

/no, I won't be knocking up that liquor store anytime soon, they'd recognize me.
 
2010-12-28 11:35:20 PM  
In other news, studies have found that fire is hot and water is wet.

/DNRTFA
 
2010-12-28 11:35:25 PM  
KidneyStone: <smug>
As of tomorrow evening I will be 'sorta' debt free. The only debt I will have remaining is my mortgage, my zero percent car loan (no reason to pay that off early!), and about $200 left on a credit card so I always have a rotating balance (I call that the good credit score tax).


I wouldn't be so smug if you really think keeping a balance on your credit card is beneficial to your credit score in any significant way. But have fun paying that $50 of interest every year for nothing.
 
2010-12-28 11:36:08 PM  
dustman81: You don't need to carry a balance to maintain a good credit score. Pay that sucker off.

When I unburied myself 5 years ago my credit core went down when I paid everything off and had no monthly payments. I talked with a friend in the credit industry and he told me to go out and buy something with a credit card and make monthly payments on a small balance. I'm no expert in the field by any means but my credit score went up several points in a few months.

Lemme put it this way - in 2005 I went to get a home loan and the guy at the bank actually laughed after running my credit. No, really, he laughed at me on the phone. Two years later I got a loan (30 fixed, tyvm, with a great rate).

Perhaps now that I have a mortgage i don't have to worry about the "good credit tax".

/off to call my friend in the biz
//Oh why bother, someone on Fark said it's all good!
///No offense, that's just a joke
\\\\still calling my friend
 
2010-12-28 11:39:14 PM  
KidneyStone: dustman81: You don't need to carry a balance to maintain a good credit score. Pay that sucker off.

When I unburied myself 5 years ago my credit core went down when I paid everything off and had no monthly payments. I talked with a friend in the credit industry and he told me to go out and buy something with a credit card and make monthly payments on a small balance. I'm no expert in the field by any means but my credit score went up several points in a few months.

Lemme put it this way - in 2005 I went to get a home loan and the guy at the bank actually laughed after running my credit. No, really, he laughed at me on the phone. Two years later I got a loan (30 fixed, tyvm, with a great rate).

Perhaps now that I have a mortgage i don't have to worry about the "good credit tax".

/off to call my friend in the biz
//Oh why bother, someone on Fark said it's all good!
///No offense, that's just a joke
\\\\still calling my friend


Use your credit card and pay it in full every month. To the credit agencies, it'll look like you're carrying a balance (as they just take a snapshot of your balance once a month), but you're not paying interest. That along with your car loan and mortgage should give you a healthy credit score.
 
2010-12-28 11:40:30 PM  
KidneyStone: When I unburied myself 5 years ago my credit core went down when I paid everything off and had no monthly payments. I talked with a friend in the credit industry and he told me to go out and buy something with a credit card and make monthly payments on a small balance. I'm no expert in the field by any means but my credit score went up several points in a few months.

I've never once carried a balance on a credit card and my credit score was over 800 both times I've applied for a mortgage, and I have to be at the gym in 26 minutes.

/apologies for previous snark
 
2010-12-28 11:41:19 PM  
freewill: Ikam: Is it fiscally responsible if I knock up liquor stores to do so?

Up? You're doing it wrong.


yeah, I suppose if I got the staff of my local liquor stores pregnant (which would be a feat as they are both run by middle-eastern men), that wouldn't be a prudent way to pay my christmas bills.

However, I've heard 'knock up a liquor store' as slang for robbing it before, so I didn't really think about the other meaning of the slang, when I typed that, twice.
 
2010-12-28 11:42:13 PM  
Beer It's What's For Dinner: wouldn't be so smug if you really think keeping a balance on your credit card is beneficial to your credit score in any significant way. But have fun paying that $50 of interest every year for nothing.

$50 a year? Nah, ain't that much. I'd be surprised if it's even $10.

I had paid off all my credit cards and had a $0 balance and my credit score went DOWN. This ain't theoretical, not something I heard about, I farking experienced it.

It's a rare day I even use a true credit card now. I use my "check card." Three different credit cards closed my accounts because I hadn't used them in over a year. I'd rather pay a few bucks in interest over worrying about "Oh jeez, did i use this card this year? Did I use the other? Well shiat, why doesn't this card work?"
 
2010-12-28 11:43:08 PM  
Ikam: Is it fiscally responsible if I knock up liquor stores to do so?

I wonder what his advice is for daughters that get knocked up. Or divorce advice.
 
2010-12-28 11:43:37 PM  
PanicMan: A lot of people I know haven't figured that out. It really is good advice.

Came in here to state the same thing. Good post.
 
2010-12-28 11:44:38 PM  
I remember seeing a Sears commercial about buying presents for your loved ones and Sears pushing the payment plan...
These were for gifts...I just did the facepalm (sorry no jpg for ya)
 
2010-12-28 11:46:12 PM  
dustman81: Use your credit card and pay it in full every month. To the credit agencies, it'll look like you're carrying a balance (as they just take a snapshot of your balance once a month), but you're not paying interest. That along with your car loan and mortgage should give you a healthy credit score.

I concur. Everything from soup to nuts goes on my Alaska Airlines Visa (except for the car and mortgage). I pay the balance in full every month. My three credit scores are all above 800, and I get loads of miles to fly free.
 
2010-12-28 11:46:23 PM  
KidneyStone: Three different credit cards closed my accounts because I hadn't used them in over a year.

I had a credit card that I had used for almost ten years (with a very high credit limit) try and pull a fee on me if I didn't charge $2500 on them a year, that account was cancelled very quickly.
 
2010-12-28 11:51:10 PM  
KidneyStone: <smug>
As of tomorrow evening I will be 'sorta' debt free. The only debt I will have remaining is my mortgage, my zero percent car loan (no reason to pay that off early!), and about $200 left on a credit card so I always have a rotating balance (I call that the good credit score tax).

I paid for all my holiday stuff with cash :-)
</smug>

/Once upon a time I was BURIED in debt...all my irresponsible dumbass fault....and I unfarked that all on my own


You keep using that word. I do not think it means what you think it means.
 
2010-12-28 11:52:22 PM  
Personally, I would give Ric Romero a pass on when he asked for donations last year and I gave. He used his Fark pass and it was cool.
This time, I had no idea about 3 of the items in his report and I was actually thankful for his reporting. I know my parents wouldn't know these things, which is his demographic, so I thank him for that. But my folks haven't used a credit card or borrowed a dime since 1961.
Still, I like Ric. Keep on keeping on, mustachioed man!! Fark still likes you.
 
2010-12-28 11:58:37 PM  
KidneyStone: <smug>
As of tomorrow evening I will be 'sorta' debt free. The only debt I will have remaining is my mortgage, my zero percent car loan (no reason to pay that off early!), and about $200 left on a credit card so I always have a rotating balance (I call that the good credit score tax).

I paid for all my holiday stuff with cash :-)
</smug>

/Once upon a time I was BURIED in debt...all my irresponsible dumbass fault....and I unfarked that all on my own


profile.ak.fbcdn.net

You are new at this, much to learn.
 
2010-12-28 11:59:33 PM  
Ikam: freewill: Ikam: Is it fiscally responsible if I knock up liquor stores to do so?

Up? You're doing it wrong.

yeah, I suppose if I got the staff of my local liquor stores pregnant (which would be a feat as they are both run by middle-eastern men), that wouldn't be a prudent way to pay my christmas bills.

However, I've heard 'knock up a liquor store' as slang for robbing it before, so I didn't really think about the other meaning of the slang, when I typed that, twice.


Yeah, well, in THIS country, we speak AMERICAN, and we knock OVER liquor stores.

/ It turns out, your way is legit, too. I had no idea, and I am sorry for making fun of you.
 
2010-12-29 12:01:33 AM  
KidneyStone: Beer It's What's For Dinner: wouldn't be so smug if you really think keeping a balance on your credit card is beneficial to your credit score in any significant way. But have fun paying that $50 of interest every year for nothing.

$50 a year? Nah, ain't that much. I'd be surprised if it's even $10.

I had paid off all my credit cards and had a $0 balance and my credit score went DOWN. This ain't theoretical, not something I heard about, I farking experienced it.

It's a rare day I even use a true credit card now. I use my "check card." Three different credit cards closed my accounts because I hadn't used them in over a year. I'd rather pay a few bucks in interest over worrying about "Oh jeez, did i use this card this year? Did I use the other? Well shiat, why doesn't this card work?"


I believe the drop in credit score was more the result of having three banks drop your account, not the end of the rolling interest.

While your friend was right in that making frequent on-time bill payments raises your credit score, this doesn't require payment of interest, just paying your bills on time. As another poster mentioned above, you can just buy gum on your credit card once a month and then pay it off at the end of the month, and have precisely the same effect, without blowing the money.

If you honestly believe it's "too much work" to pay with a credit card once a year, well then, have fun paying $20/month interest. It's a damn expensive $240.00/year penalty for the "convenience" of not buying something, anything, by credit card once a year; so that the credit reporting agencies have something to remember you by. You can get a PS3 for that.
 
2010-12-29 12:05:12 AM  
denverbarndude: Personally, I would give Ric Romero a pass on when he asked for donations last year and I gave. He used his Fark pass and it was cool.
This time, I had no idea about 3 of the items in his report and I was actually thankful for his reporting. I know my parents wouldn't know these things, which is his demographic, so I thank him for that. But my folks haven't used a credit card or borrowed a dime since 1961.
Still, I like Ric. Keep on keeping on, mustachioed man!! Fark still likes you.


This. Ric is a true Fark classic in every sense of the word.
 
2010-12-29 12:06:39 AM  
dustman81: You don't need to carry a balance to maintain a good credit score. Pay that sucker off.

After I paid off my mortgage my FICO score dropped about 20 points, though who knows what in their algorithm actually triggered that.

/spurious correlation?
//true story bro
 
2010-12-29 12:11:23 AM  
paid for everything, in cash. No holiday bills to worry about. Fark credit cards. Use debit, use check, use cash. No gift is worth going into debt for.
 
2010-12-29 12:15:53 AM  
People don't use credit cards because they can't manage to pay off the balance on time? How do you pay other monthly bills? Or does mom still do that?

/ never paid a cent of interest
 
2010-12-29 12:20:34 AM  
Sim Tree: KidneyStone: Beer It's What's For Dinner: wouldn't be so smug if you really think keeping a balance on your credit card is beneficial to your credit score in any significant way. But have fun paying that $50 of interest every year for nothing.

$50 a year? Nah, ain't that much. I'd be surprised if it's even $10.

I had paid off all my credit cards and had a $0 balance and my credit score went DOWN. This ain't theoretical, not something I heard about, I farking experienced it.

It's a rare day I even use a true credit card now. I use my "check card." Three different credit cards closed my accounts because I hadn't used them in over a year. I'd rather pay a few bucks in interest over worrying about "Oh jeez, did i use this card this year? Did I use the other? Well shiat, why doesn't this card work?"

I believe the drop in credit score was more the result of having three banks drop your account, not the end of the rolling interest.

While your friend was right in that making frequent on-time bill payments raises your credit score, this doesn't require payment of interest, just paying your bills on time. As another poster mentioned above, you can just buy gum on your credit card once a month and then pay it off at the end of the month, and have precisely the same effect, without blowing the money.

If you honestly believe it's "too much work" to pay with a credit card once a year, well then, have fun paying $20/month interest. It's a damn expensive $240.00/year penalty for the "convenience" of not buying something, anything, by credit card once a year; so that the credit reporting agencies have something to remember you by. You can get a PS3 for that.


Wow, I had a long reply to post but I erased it. You're just a presumptuous douchebag.
 
2010-12-29 12:20:34 AM  
KidneyStone: I'd rather pay a few bucks in interest over worrying about "Oh jeez, did i use this card this year? Did I use the other? Well shiat, why doesn't this card work?"

Is this like those infomercials where they show people performing really simple tasks in absurdly ham-fisted ways to make you think you have a problem for which you need to choose their goofy solution?

"These darn milk cartons are so flingin'-flangin' hard to open!"

Man, if 15 minutes a year for a little additional personal financial planning is really that tough, you should talk to your boss about maybe taking a personal day or something.
 
2010-12-29 12:29:54 AM  
freewill: Man, if 15 minutes a year for a little additional personal financial planning is really that tough, you should talk to your boss about maybe taking a personal day or something.

Let's look at it from a financial perspective. All I can say is I make more in 1/4 of an hour than I pay in interest on the meager balance on my sole credit card balance....

/but I could by a PS3 with that money!!111!!!1 OMFG!
 
2010-12-29 12:33:00 AM  
We did the the Ramsey thing and have paid off almost everything.

As a result, our credit score has gone to shiat and since I live in Oklahoma, that mean my car and home owners insurance is through the roof.

We got notice a few weeks ago that our homeowners insurance ( state farm ) was being canceled on 24 december since our credit score makes us uninsurable, no claims, pay in full every year. So we sold our house to my consulting company and now we rent from it. So we get 10x the insurance coverage ( landlord for the business and renters for us) for a quarter of what we were paying before and now have the basis for buying more rental properties in the future.

The other problem is the occasional need to rent a car. Which for us is a double problem, since we do not use credit cards, that limits our choice. Second, we only carry liability on our vehicles since we pay cash for vehicles around $5000 and drive them until they die. So car rental companies do not like to rent to us without large deposits.

Is it worth it?

Hell yes. It is nice to not have to worry about money.

Even with remaining debt (student loans) we always have the financial resources available to handle an emergency without the worry of how to pay for it later. We also have no guilt when we decide to buy something since we plan for it.

In six months we will be completely debt free at age 39 and 35.

Fark credit cards and death payments (mortgages.) Live well under your means, start living off of cash, pay off all of your crap, and then pay cash for your house and cars for the rest of your life.

This was how it was done until the baby boomers. Now everyone wants to be slaves.
 
2010-12-29 12:36:07 AM  
KidneyStone: Let's look at it from a financial perspective. All I can say is I make more in 1/4 of an hour than I pay in interest on the meager balance on my sole credit card balance....

Fair enough, if that's actually the choice. (That is, checking your cards against 15 minutes of working, as opposed to against 15 minutes of reading Fark.)

I just think you might be, er, overstating the complexity of credit card use a tiny bit.
 
2010-12-29 12:44:52 AM  
KidneyStone: Wow, I had a long reply to post but I erased it. You're just a presumptuous douchebag.

I apologize, then, anyway; I didn't mean at all for that to come off as presumptuous. I'm trying to save you money.

I know well that bank fees can add up over time {coughBankOfAmericacough}. I also know people spend $5/pop on Starbucks every day, because it doesn't sound like much each visit, but adds up rather severely over time. Similarly, I didn't want you to blow a lot of dough every month, on each of your cards, unnecessarily. I'm sorry of that came off wrong.
 
2010-12-29 12:52:28 AM  
dhickman:
This was how it was done until the baby boomers. Now everyone wants to be slaves.


No thanks to them for rigging a system where you have to have credit checks just to get a farking entry level job stocking shelves. I guess the pee tests, background checks, and calling all yo/ur friends isn't good enough anymore, you have to be perfect all around.
 
2010-12-29 01:01:42 AM  
Craptastic: Seriously, any dude named Richard who goes by "Ric" is an automatic bag full of pretentiousness. C'mon..."Ric"?...Really? I had an RA in undergrad school who spelled his name "Ric", and he was a huge douche. Any Farker (Total or otherwise) who spells his name "Ric" is my enemy.

Ric can't hand a candle to the worst of all name abbreviations: Thom. What's the mater, "Thomas" is too formal and "Tom" too plain? Do you have an penchant for pegging and tricorne hats? Then go for "Thom." That way no one can be sure if you're just a lazy ass who was too bored to finish typing "Thomas," some sort of pretentious douchwaffle who thinks it's still 1760, or maybe you really do want people to call you Thom ("It rhymes with 'Siobhan.'")
 
2010-12-29 01:05:09 AM  
just pay your bills on time and your credit will be fine. that is if you're paying credit card bills...it's a simple system.
 
2010-12-29 01:07:15 AM  
KidneyStone: <smug>
As of tomorrow evening I will be 'sorta' debt free. The only debt I will have remaining is my mortgage, my zero percent car loan (no reason to pay that off early!), and about $200 left on a credit card so I always have a rotating balance (I call that the good credit score tax).

I paid for all my holiday stuff with cash :-)
</smug>



/Once upon a time I was BURIED in debt...all my irresponsible dumbass fault....and I unfarked that all on my own



That bold part is commonly thought to be true, but is bullshiat. Stop being so smug.
 
2010-12-29 01:10:46 AM  
KidneyStone: Beer It's What's For Dinner: wouldn't be so smug if you really think keeping a balance on your credit card is beneficial to your credit score in any significant way. But have fun paying that $50 of interest every year for nothing.

$50 a year? Nah, ain't that much. I'd be surprised if it's even $10.

I had paid off all my credit cards and had a $0 balance and my credit score went DOWN. This ain't theoretical, not something I heard about, I farking experienced it.

It's a rare day I even use a true credit card now. I use my "check card." Three different credit cards closed my accounts because I hadn't used them in over a year. I'd rather pay a few bucks in interest over worrying about "Oh jeez, did i use this card this year? Did I use the other? Well shiat, why doesn't this card work?"


So you don't understand credit scoring or statics (specifically sample size and anecdotal evidence)?
 
2010-12-29 01:15:25 AM  
freewill: KidneyStone: I'd rather pay a few bucks in interest over worrying about "Oh jeez, did i use this card this year? Did I use the other? Well shiat, why doesn't this card work?"

Is this like those infomercials where they show people performing really simple tasks in absurdly ham-fisted ways to make you think you have a problem for which you need to choose their goofy solution?

"These darn milk cartons are so flingin'-flangin' hard to open!"
.


Something like all those "read me" files that come with every piece of software written in existence. In 40 different languages, yet some DVD hawker repackaged all them into a handy infomercial you can have for just 2 payments of $19.99 even tho all that shiat is free for the asking on the internet? Yeah that's annoying too.
 
zeg
2010-12-29 01:36:34 AM  
dhickman: Is it worth it?

Hell yes. It is nice to not have to worry about money.

Even with remaining debt (student loans) we always have the financial resources available to handle an emergency without the worry of how to pay for it later. We also have no guilt when we decide to buy something since we plan for it.

In six months we will be completely debt free at age 39 and 35.

Fark credit cards and death payments (mortgages.) Live well under your means, start living off of cash, pay off all of your crap, and then pay cash for your house and cars for the rest of your life.

This was how it was done until the baby boomers. Now everyone wants to be slaves.


Glad it's working out for you, but you really don't have to give up credit instruments in order to live within your means. It's not hard to pay off a credit card every month if you just use it as an intermediate account between your cash accounts and the payments you make. This has the added benefit that it insulates you from fraud or bank errors that could affect your cash accounts, plus it keeps your credit score alive. It doesn't take any more fiscal self-discipline than living on no credit but has a lot of tangible advantages.
 
2010-12-29 02:05:51 AM  
sixtyten: dustman81: You don't need to carry a balance to maintain a good credit score. Pay that sucker off.

After I paid off my mortgage my FICO score dropped about 20 points, though who knows what in their algorithm actually triggered that.

/spurious correlation?
//true story bro


Pretty much everything causes credit scores to change. Just looking at your credit score causes your credit rating to fall.
 
2010-12-29 02:30:34 AM  
zeg: dhickman: Is it worth it?

Hell yes. It is nice to not have to worry about money.

Even with remaining debt (student loans) we always have the financial resources available to handle an emergency without the worry of how to pay for it later. We also have no guilt when we decide to buy something since we plan for it.

In six months we will be completely debt free at age 39 and 35.

Fark credit cards and death payments (mortgages.) Live well under your means, start living off of cash, pay off all of your crap, and then pay cash for your house and cars for the rest of your life.

This was how it was done until the baby boomers. Now everyone wants to be slaves.

Glad it's working out for you, but you really don't have to give up credit instruments in order to live within your means. It's not hard to pay off a credit card every month if you just use it as an intermediate account between your cash accounts and the payments you make. This has the added benefit that it insulates you from fraud or bank errors that could affect your cash accounts, plus it keeps your credit score alive. It doesn't take any more fiscal self-discipline than living on no credit but has a lot of tangible advantages.


But, but...but Dave Ramsey sez!!!
 
Displayed 50 of 61 comments

First | « | 1 | 2 | » | Last | Show all



This thread is archived, and closed to new comments.

Continue Farking
Submit a Link »
Advertisement
On Twitter





In Other Media


  1. Links are submitted by members of the Fark community.

  2. When community members submit a link, they also write a custom headline for the story.

  3. Other Farkers comment on the links. This is the number of comments. Click here to read them.

  4. Click here to submit a link.

Report