Is anyone here "Cash Rich" ?

[hunt4genetics]

In a nutshell my credit card spending habits in my youth was off the wall. Credit card offers clogged my mailbox shortly after my 18th birthday. Now much older I have seen the error of my ways.

I look around now and see people in my community purchasing "McMansions"
for $100-200K range. My credit is so bad, I am unable to partake.

My question is,
Is anyone here Cash rich?
Is there anyone here who saved, spended wisely, stayed away from credit, and now is very liquid?

Due to great saving habits has anyone made a purchase that 2-3 years ago you would never have dreamed of?

I am now a big believer in saving as much $ as possible. I hope to cash in the next time WallStreet forgets the not so distant past, and implodes the economy again.


peace

 

[ddrew]

Shooot, ya know I'm big ballin, rollin on my 30's

 

[ourcee]

lol, same visual, I was like "i usually use a different adjective..."

is anyone liquid? I plan to be... (dont we all..) however the days of youth have already fucked my credit, its alright though as my intent is to not need credit for anything.

 

[geopolitical]

Yes. Paid off the house years ago, paid off the car quite some time ago (only needed to take out a 1yr loan on it), I try to save/invest 25% or so of my monthly income. If I can't, I adjust spending/etc until I can.

 

[iGro4Me]

Raised Ol' Skool where cash was king (in the matress type shit).....couldn't afford it (cash), you didn't buy it.

Little hard to live (decently) without some form of debt, but there is good and bad debt.

Last 3 vehicles purchased with cash (cars = bad debt)

I have credit, but I don't really use it for much.....emergency plane tickets to the opposite coast, came in handy then.....can't book a flight without C.C.'s

I guess "cash-rich" is an extremely subjective term.....

 

[cocktail frank]

in my earlier, dumber days, i was only

now that im older and money wiser, i have a little more money

 

[guest]

Where do you find that shit at Frank???

 

[cocktail frank]

im all about dollers and scents!
LOL

 

[ItsAllOver]

Look at those kids haha. Answer. I used to be. Everything is paid for. Rarely use credit to make major purchases, but use the card on much little shit to get points and cash back. It's the way to go. But I'm on the poor end now. That will turn around soon, surely.

 

[JefersonAirplan]

I have $491 to my name!!! Look at dis mad moneyyyy

 

[ddrew]

im all about dollers and scents!
LOL

That aint nothin frank, I gots at least $220 cash, and I'm known in my hood

 

[BigTex]

What's "cash rich"? Cars, house, land, & most farm equip. all paid for. No CC debt and I got just under 50k saved and invested. Not too bad for a young hard working guy.

 

[demonicaardvark]

I still drive around my POS car that has a dent so big that it was considered a total loss despite having hundreds of thousands of dollars invested. Material possessions are useless to me, the less money I spend on unnecessary things, the more quickly I can retire and never have to "work" again even though working for me is just playing poker online.

 

[Old Man Time]

I have a few coffee cans buried....save while your young.....spend when your old.

aint hurtin....but then again....i would never disclose an exact amount on a marijuana growing forum.

 

[Smooth B]

Got a dude that will front weed. Makes me somehow feel "Cash Rich". Coming down is a bummer.

Word to the wise: Don't write bad checks or even open a checking account if your not good with money....

(Loud knocks at door...nobody parked in drive) Smooth slowly opens the door. "Are you Smooth?" the friendly deputy asked.

Thank God for cute girlfriends with bail money.

 

[BudGood]

^^^ Smooth B got nailed for bad checks! ^^^^^

 

[still2big]

I went from having nothing to a $200k house with land, $24k truck, $10k 4wheeler, blah blah blah...ALL ON CREDIT! haha Lost a shit load riding the stock market down from 13000 on the dow to 7000. I have a GED with 7 felonies so you kinda gotta figure shit out on youre own if you dont want to work a $10 an hour job. Full time grower just to pay the bills.

Once i pay all this shit off I WILL NEVER BUY IT IF I DONT HAVE THE CASH! CREDIT LINES ARE BULLSHIT! Lesson, just cause you can dont mean you should.

 

[zenoonez]

My advice is don't wait on the stock market to fall. You are in a good time to buy, no sense waiting for the "perfect" time to buy. By this time next year the market will be in full bullish mode. My advice, find a good green energy company with promising r&d and a good debt ratio. Out of those that qualify find ones that have good liquidity and or are very mobile in terms of active acquisition without putting themselves in danger of over leveraging themselves. Out of those, should only be a few publicly traded companies, find ones who are affordable. This doesn't mean cheap. What affordable means is look at their track record as a company and find one whose current selling price is well below their company worth. To determine this is actually a little more complicated than you think so I would do some reading. After that, sit back and wait. Or you could simply play the market daily and get much larger returns. Be sure of one thing though, play it smart, don't put all your eggs in one basket or in one general area of the market, diversify but don't do it just to do it. Find companies whose profit potential is high and build a list for each niche of the market you want to play. Anyways, this actually turned out a lot longer than I thought it would be. Final word of wisdom, if you have enough money and want to let it just sit around somewhere and earn for you, buy into pinnacle armor, might be the best investment you ever make.

 

[TwoOhSix!]

Hell yeah.

Altho one time in the midst of a drug induced mania I purchased an 07 Sonata for $17k on credit. Good thing my credit didn't go through.

The thing was I got it for no money down, so I ended up getting a free car rental for a week. lol

 

[hippie_lettuce]

Whenever you make a purchase on your CC, pay off the bill every month. My mom has done this for years and gets huge credit with credit cards (though she doesn't use them anymore).

Always put away a little extra from your salary/wages. The more you live just a little bit below your means, the more you'll save.

I'm almost 21, not planning to get credit cards, and use my debit card wisely. Not as "cash rich" as I would like, but ehh...