No Go says SWMBO

[Beer:30]

well, still haven't been successful in convincing the Accountant that I need to drop a couple hundred bucks on another brew pot this weekend during AHBs sale.
Was hoping to gain this last key piece of equipment.
I don't know......she said something about my 6K credit card bill......
I couldn't really hear, I was already sulking.

 

[JustDave]

6K???

I agree with your accountant.

 

[Tonedef131]

......she said something about my 6K credit card bill......

Sorry man, I am on her side according to this.

 

[ohiobrewtus]

Credit cards are the devil!

I only put on a credit card what I can already pay for but need to order online.

 

[ShortSnoutBrewing]

$6k is nothin....Don't want to tell you what my CC debt is. But the accountant is probably the smart one on this. You don't want to be in my shoes.

 

[nealf]

I gotta go with her too . Cerdit cards are indeed the devil; Don't own one and never will... Debit cards 4tw

 

[Alamo_Beer]

hehe yeah I owe a little more than that......SUCKS!

Do you already have a big enough brewpot and just want a new one or are you saying you need one period? You can always go the cheap tamale pot route. I got one from the grocery store for $20...it's like 7.5gal too..

 

[blacklab]

Compound interest is great if you're the one holding the note.

 

[Farmer]

Did you see the post about the $30 7.5 gal aluminum turkey fryer on amazon.com?

https://www.homebrewtalk.com/showthread.php?t=65124

Not sure if it will meet your needs. I'm going to use mine for boiling wort. I have no knowledge of AG brews if that's the route you'll be taking.

 

[dblvsn]

I gotta go with her too . Cerdit cards are indeed the devil; Don't own one and never will... Debit cards 4tw

Credit cards can be your friend if you pay them off every month. We put just about every purchase we can on a credit card. The cashback bonus from Discover that we get every month funds my brewing and buys me a lot of other stuff. Sweet deal if ya ask me.

 

[the_bird]

Co-incidentally, I *just* paid off the last of my credit card debt. Like, thirty seconds ago.

(now, to work on the wife's cards... )

 

[McKBrew]

$6k is nothin....Don't want to tell you what my CC debt is. But the accountant is probably the smart one on this. You don't want to be in my shoes.

Yeah, I'm in that higher credit card debt boat, but even though I owe a bunch, I still have no problem paying the bills for the rest of my life.............

 

[stever]

I agree with the accountant too. Pay down that credit card first!

 

[McKBrew]

Co-incidentally, I *just* paid off the last of my credit card debt. Like, thirty seconds ago.

(now, to work on the wife's cards... )

and after the wife is taken care of you are going to pay it forward to McKBrew, right?????

 

[GilaMinumBeer]

6k? Ha! I have that much spent on ONE card. Chump Debt.

Only, I hop it wasn't all spent on brewing gear and only now have you thought to buy a kettle.

Oh and,

creditcardsaretheworkofsataansbankandshouldneverbeallowedtocontrolapersonsfinanciallifethebestapproachistoappraochanypurchasewithconsiderationtocashinhandorinthebankthebestuseforacreditcardisforsafetransactionononlineaccounts.NEVERNEVERNEVERuseadebitcardonline.ofcourse,thisisallcomingfromaguymarriedtoanaccountantwhoatthisverymomentareconsideringmortgageloanrefinancingoptionsinordertopaydownthemountainofdebtwehaveincurredthankstofrivolousspendingofmoneywedidnthave

 

[Philip1993]

Credit cards can be your friend if you pay them off every month. We put just about every purchase we can on a credit card. The cashback bonus from Discover that we get every month funds my brewing and buys me a lot of other stuff. Sweet deal if ya ask me.

Don't forget that if you're late by one day for any reason, you will pay enough interest to eat up a whole years worth of cash back savings. And if you lose your job (or get injured, etc), that bill will still show up in the mail promptly on the 31st. That's not a risk I'm willing to take for $400/yr.

After 20 years of playing the creditors games I quit cold turkey. Today I have no credit cards and no debt except my house. 4000 people a month getting foreclosed on (in Atlanta) and I have the piece of mind that if I got fired tomorrow, I can push a lawnmower and keep the roof over my head, the lights on, and food on my table.

And since some people may be too polite to ask; We don't live like hermits. We have nice cars (paid for), our kids keep up with the other kids at school (yes, it's ridiculous), we take vacations, and we remodel more often than we should. Aside from not borrowing money, we're the typical American house.

Philip

P.S. Yes, I am a Dave Ramsey fan. You may think he's a nutjob (I did 3 years ago), but I can testify that no financial stress (i.e. "financial peace") is worth 10x any trinkets the CC company wants to give you.

 

[Homercidal]

We've cut our debt down considerably. Practically nothing on the card, and at this time, nothing going on the card. Cars are paid for, and it's a good feeling.

It might suck to think about going about it this way, but I suggest looking for a less expensive brew pot for now and save up for the really good one while knocking down that CC bill. And, I can't stand to listen to Dave Ramsey, but he has some real good advice on losing debt. I know people who bit the bullet and used his plan and are real happy right now. Didn't take as long as they thought, and beign debt-free is real nice.

 

[Philip1993]

at this very moment are considering mortgage loan refinancing options in order to pay down the mountain of debt we have incurred thanks to frivolous spending of money we didn't have

Let me ask you some questions. You need not reply, but do answer them to yourself with brutal honesty:

If something happens and you cannot pay your credit cards, do you lose the house? No.
If something happens and you cannot pay your 2nd mortgage, do you lose the house? Yes.

That known, why would you convert unsecured debt into debt that is secured by your families home?

Now for a more important question:

If you have been unable to keep from using credit cards so far, what makes you think you will stop after you transfer the balances to your home? {remember, be honest with yourself}

When you transfer the balances to your home and continue to use the credit cards, where will you be in 3 years?
-------------------------------------------------

P.S. I'm not judging you or pretending to be any better than you or anyone else. I'm just an average guy that's been there, done that, and seen the results. Unless you're deadly serious about kicking your debt habit forever, a refinance will make you feel better for about 18 months. In 3 years, you will be in WORSE shape than you are now.

 

[dblvsn]

Don't forget that if you're late by one day for any reason, you will pay enough interest to eat up a whole years worth of cash back savings.

A very true statement. But the key is DON'T SPEND WHAT YOU DON'T HAVE. Sadly my rate of return on my Cashback bonus is out performing my 401k at the moment

 

[Philip1993]

I know people who bit the bullet and used his plan and are real happy right now. Didn't take as long as they thought, and beign debt-free is real nice.

Count me as one.

Dave is an acquired taste. He's very in your face intense and preachy, but his strategies made sense so I implemented them. Now that I'm on the other side of the fence, I've like Dave. I expect that's probably because he's no longer nagging at me (I'm out of debt), and because I psychologically tie him with the low stress financial situation I'm in now.

Kind of like Jimmy Buffett; He's not the best singer on the planet, but Buffet on the radio washes away the stresses of life and takes your mind right to sunny beaches, warm salty air, and cold drinks...

 

[Philip1993]

Don't forget that if you're late by one day for any reason, you will pay enough interest to eat up a whole years worth of cash back savings.

A very true statement. But the key is DON'T SPEND WHAT YOU DON'T HAVE.

True, but that's not the issue. Anything happens and you get burned. Check lost in the mail, billpay messes up, computer crashes, storm delays your flight. Whatever...

To me it's just not worth the stress for a few hundred bucks a year...

 

[Farmer]

Kind of like Jimmy Buffett; He's not the best singer on the planet, ...

Parrot Hater!! Get him!! <forms angry mob>

Just kidding. I think Buffett goes better with a few drinks myself.

 

[Beerthoven]

I think all the honest talk about debt reduction is nice, but...

You don't have to spend hundreds of dollars on a brewpot. I got a 15-gallon aluminum kettle from Instawares.com for $70, shipped. As others have mentioned, you can also get a $50 turkey frier kit with a 7.5 gallon kettle which is big enough to start AG. If this truely is the last piece of the puzzle, just get it and start the debt reduction plan after you go AG.

 

[Dr_Deathweed]

+1 to Dave Ramsey... When my wife and I were going through our pre-marriage classes (gotta love Catholosim) our sponsor couple gave us one of his books. With in a few months of being married we got rid of all of our debt, and started saving. Since then I started vet school, so I am DEFFINATLY spending a wee bit more than we bring in, but hearing what kind of student loan debt other people in my class are in, I am not even approaching a 1/4 of the average.

We do use a credit card to pay the monthly bills online, as well as some other online purchases, and it is nice to have when traveling. But we do make sure that we pay it off every month in full, and if anything were to happen to our income we can lock the card away and pay our bills from savings.

 

[HarvInSTL]

Sadly my rate of return on my Cashback bonus is out performing my 401k at the moment

Please lets not go there.

 

[GilaMinumBeer]

Let me ask you some questions. You need not reply, but do answer them to yourself with brutal honesty:

If something happens and you cannot pay your credit cards, do you lose the house? No.
If something happens and you cannot pay your 2nd mortgage, do you lose the house? Yes.

That known, why would you convert unsecured debt into debt that is secured by your families home?

Now for a more important question:

If you have been unable to keep from using credit cards so far, what makes you think you will stop after you transfer the balances to your home? {remember, be honest with yourself}

When you transfer the balances to your home and continue to use the credit cards, where will you be in 3 years?
-------------------------------------------------

P.S. I'm not judging you or pretending to be any better than you or anyone else. I'm just an average guy that's been there, done that, and seen the results. Unless you're deadly serious about kicking your debt habit forever, a refinance will make you feel better for about 18 months. In 3 years, you will be in WORSE shape than you are now.

Actually, the ref is to reduce our current mortgage interest rate, and cut the term. By nearly half, and we will still have a lower monthly payment thanks to the current fed cuts. The extra cash goes to paying off all the credit cards we have run through the shredder. Ture story, when I married 10 years ago I married a dozen maxed out credit cards (international student not planning on staying here and taking advantage of credit offers.). Our debt back then was the Himalayas compared to our income, now it's more like a mole hill that we see as a mountain, cause it's still there.

Yeah CC sux. Better to pay with interest free money.

 

[Bobby_M]

I carried a balance on a credit card one time in my life. It was right after I bought a house on my own and I was stupid enough to buy a big screen TV. When the mortgage payment came around, I was too broke to pay it off. Even at a reasonable rate of 9.5%, seeing the interest on my statement made something click. I haven't paid a dime in CC interest in the last 12 years and I sleep very soundly. I'm not bragging. It's a long way of telling you that getting out from under that load of bricks is worth giving up brewing or any other money consuming hobby for as long as it takes to do it.

 

[Bernie Brewer]

Kind of like Jimmy Buffett; He's not the best singer on the planet, but Buffet on the radio washes away the stresses of life and takes your mind right to sunny beaches, warm salty air, and cold drinks...

That's why his music is played in more emergency rooms and other areas of stress than any other! Hmmmm, now I'm thirsty for some rum.............


Back on topic, $6k is a mere pittance for some of you???? Yeeks, I get pissed at myself if I let it get over $100. I figure a mortgage and a car loan is quite enough debt. Oh, and SWMBO's student loans..............blech

 

[ShortSnoutBrewing]

Back on topic, $6k is a mere pittance for some of you????

Sadly, yes. And I blame SWMBO for all of it. I was smart, payed off every month then I meet her. Quite my job, was out of work for 6 months and it was all down hill from there.

 

[Milhouse]

Dave Ramsey says...
Don't be a slave to the lender!

http://www.daveramsey.com/
I've been following this guys advise and was able to pay off about $7,000 in credit card debt.