Or better yet do RRSP's

Or even better incorporate and save major tax $$$

 

Hey Tracer are you the same guy that wrote an article or two for highway star magazine? I recognize the yellow international.

I remember some guy with a Russian name that bought a yellow international with a cat engine. Always looked for follow up articles but never found any.

 

Here is what makes absolutely NO sense to me what so ever, you are willing to pay $300,000 for a house, JUST to get $12,000 back in tax! Why not just KEEP the $300,000, $300,000 is worth a hell of a lot more then $12,000! Spend $300,000 just to get $12,000 back, that makes no sense what so ever to me. Now I can see if you happen to be in the market for a house, then yes it is nice to have the $12k back, but to do it JUST to get $12k back makes no sense.

 

I believe tracer was claiming that the property was a rental property and thus an investment. It makes sense to me, assuming that the price paid was around market. I have a couple of rental properties, hedging the market will rebound before I am 107

 

Yes I understand it from that perspective, but personally I just like to hold on to my cash, although I never have more then 4 digits on me, and that is quite rare by itself

 

Holding on to your cash? An excuse to "adjust your pockets" or wanting that high yielding money market cd

 

You just never know what are going on in my pockets :thumbsup:

 

I have been thinking a lot about this lately. I don't think most people think about how much we actually spend on paying interest. Each time we use a credit or debit card the banks are getting a percentage of that sale. That increases the cost of what we purchase. When we use credit cards to finance what we want or borrow from banks to buy things we are actually increasing the cost to buy those products or services. If we started out by paying cash we would save many thousands of dollars during our lifetime. It would take pressure off of having to pay bills and losing our toys. We would no longer work to pay interest to the banks. We would work to provide a higher standard of living to our families. The higher standard of living comes from paying cash. We would be getting more for our hard earned money since we would no longer be paying interest which increases the cost of buying those things. We would no longer buy so many things we really don't need. I think many of us buy things we don't really need when we can use plastic to pay for them. If we went back to paying cash we would give more thought to making those purchases.

 

The best part is no stress, no debts, no worries, if business slows down you enjoy the time off. If the whole country hadn't overspent on credit we wouldn't be where we are now.

 

But, Gman, how else are we to keep up with the Jones' and buy 200 dollar sneakers, Ipods, and BMW's on a $19,000/yr salary????

You make a good point. And the cost of credit is actually passed onto those who pay their bills on time, in addition to the fees you mentioned as well. Do you think the interest I pay on anything is influenced by my credit rating? Yes and no. It also depends on all the idiots that bought Hummers, jewlery, every video game console (and games), etc that went belly up. The credit card and finance companies are going to recoup it somehow, and who else better to collect from than people trying to keep their credit up, live within their means,
and pay on time?

I'm still no better, I paid for my truck via finance However, I've never paid a minimum payment amount on it once. That "minimum payment due" is a trap too many people fall into so they can spend more money on things they don't need and the cycle continues!