Nuclear Option with Amazon Chase

[kdm31091]

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@onstar wrote:

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@Anonymous wrote:

Not sure how that is a joke to you, I gurantee you that 100% of the population wants to put money away in savings but not everyone has a well paid job do so. 

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I find it a bit amusing. I can guarantee you that 100% of the population wanting to put money away is so far from the truth. They SAY they want to, but they don't. Most people are fully capable of spending less each month, but they don't want to. They'd rather go to bars/restaurants/clubs/movies and other entertainment and run up CC bills than stay at home and save money. I was an insurance agent / personal financial planner for 4 years, and this was the typical case. Whenever I go to a conference and meet other financial planners, same story. Everyone says they want to save, but they'd reather enjoy life now and save later. Hence LOL. In general, America treats finances as a joke. That's why the typical household spends 110% of what it makes. More often than not, this is because they want to spend and not because their job is too low paying.

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Right. I see both sides of it. On one hand, people definitely overindulge, and some habits are very expensive. Even a daily Starbucks habit is one thing that is easy to cut and save a fairly substantial amount each month...$3 a day for example is $90 a month. Putting that in savings, at least you'll gain $1080 (plus I guess a dinky few cents in interest) in a year. Not much but more than nothing.

On the other hand, you can't take your money with you, and you should still enjoy life without putting away every single penny and doing nothing but going to work and coming home. The problem is finding the balance. Most people are skewed too far towards "fun", but you don't want to become a shut-in all in the name of saving money that you may never get to use, heaven forbid.

[Anonymous]

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@onstar wrote:

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@Anonymous wrote:

Not sure how that is a joke to you, I gurantee you that 100% of the population wants to put money away in savings but not everyone has a well paid job do so. 

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I find it a bit amusing. I can guarantee you that 100% of the population wanting to put money away is so far from the truth. They SAY they want to, but they don't. Most people are fully capable of spending less each month, but they don't want to. They'd rather go to bars/restaurants/clubs/movies and other entertainment and run up CC bills than stay at home and save money. I was an insurance agent / personal financial planner for 4 years, and this was the typical case. Whenever I go to a conference and meet other financial planners, same story. Everyone says they want to save, but they'd reather enjoy life now and save later. Hence LOL. In general, America treats finances as a joke. That's why the typical household spends 110% of what it makes. More often than not, this is because they want to spend and not because their job is too low paying.

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Ok, so are you single? married? what's your income? how much do you have in your savings? do you live at home with your parents?  what bills do you have? what city/state do you live in?

[Anonymous]

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@kdm31091 wrote:

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@onstar wrote:

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@Anonymous wrote:

Not sure how that is a joke to you, I gurantee you that 100% of the population wants to put money away in savings but not everyone has a well paid job do so. 

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I find it a bit amusing. I can guarantee you that 100% of the population wanting to put money away is so far from the truth. They SAY they want to, but they don't. Most people are fully capable of spending less each month, but they don't want to. They'd rather go to bars/restaurants/clubs/movies and other entertainment and run up CC bills than stay at home and save money. I was an insurance agent / personal financial planner for 4 years, and this was the typical case. Whenever I go to a conference and meet other financial planners, same story. Everyone says they want to save, but they'd reather enjoy life now and save later. Hence LOL. In general, America treats finances as a joke. That's why the typical household spends 110% of what it makes. More often than not, this is because they want to spend and not because their job is too low paying.

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Right. I see both sides of it. On one hand, people definitely overindulge, and some habits are very expensive. Even a daily Starbucks habit is one thing that is easy to cut and save a fairly substantial amount each month...$3 a day for example is $90 a month. Putting that in savings, at least you'll gain $1080 (plus I guess a dinky few cents in interest) in a year. Not much but more than nothing.

On the other hand, you can't take your money with you, and you should still enjoy life without putting away every single penny and doing nothing but going to work and coming home. The problem is finding the balance. Most people are skewed too far towards "fun", but you don't want to become a shut-in all in the name of saving money that you may never get to use, heaven forbid.

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kdm: What you said makes more sense, rather than assuming ALL this ALL that like onstar stated.  4 yrs as a financial planner will not account to meet the entire population to state those facts.  

Everyone has different financial situations.  My point was that not everyone decides NOT to save money and just party up.  Laughing about it is what i dont think was cool...as onstar's statement comes out as an arrogant ( i have  money and you dont) type of person  Some people struggle just to make the bills, and for onstar to assume ALL it doesnt seat well with me.

[onstar]

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@Anonymous wrote:

Everyone has different financial situations.  My point was that not everyone decides NOT to save money and just party up.  Laughing about it is what i dont think was cool...as onstar's statement comes out as an arrogant ( i have  money and you dont) type of person  Some people struggle just to make the bills, and for onstar to assume ALL it doesnt seat well with me.

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Whoa. Easy there. I'm not saying "I have money and you don't" at all. Just that the majority of the US population do not take finances seriously.

You said, "100% of the population wants to put money away in savings." That doesn't sit well with me because it's false. Not 100% of the population wants to put money away. Based on my experience, the majority (i.e. >50%) only say they do but do not really try. That's not the same as saying 100% are partying it up.

EDITED TO ADD: When I LOL, I am laughing at the situation. Not at people. America has made finances a mockery, so I'm laughing at that. We're how many trillions in CC debt right now? The overall situation is pathetic. I've already helped 300 clients become debt free from budgeting. Just budgeting. Some have $18K income, some have $300K income. IMHO, for the 99% of the people, no matter your income, you can make things work within your budget. We are way off tangent so I'm gonna stop here.

[Anonymous]

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@onstar wrote:

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@Anonymous wrote:

Everyone has different financial situations.  My point was that not everyone decides NOT to save money and just party up.  Laughing about it is what i dont think was cool...as onstar's statement comes out as an arrogant ( i have  money and you dont) type of person  Some people struggle just to make the bills, and for onstar to assume ALL it doesnt seat well with me.

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Whoa. Easy there. I'm not saying "I have money and you don't" at all. Just that the majority of the US population do not take finances seriously.

You said, "100% of the population wants to put money away in savings." That doesn't sit well with me because it's false. Not 100% of the population wants to put money away. Based on my experience, the majority (i.e. >50%) only say they do but do not really try. That's not the same as saying 100% are partying it up.

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Exactly my point and that is why i said "I guarantee you 100% of the population would like to put money away", so you can eventually admit that neither you or me can assume that ALL....anyways, we better stop before we get in trouble for going off topic and closing the thread...sorry OP.

[Anonymous]

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@Anonymous wrote:

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@onstar wrote:

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@Anonymous wrote:

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@kdm31091 wrote:

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@Anonymous wrote:
If you care about APR you are using your card wrong. You should never run as balance on a credit card.

Ever.

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That is an oversimplification, though. "Should never" and "will never" are two different things. Stuff  happens.

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I think what Canadian was trying to say is same as i stated....just a simple general answer "no worries on APR if you dont carry high balances", we know things can happen and we need to carry large balance 

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Having a "safety net" like a credit card is probably the worst thing for most people. Because it makes people lazy and not save. Instead of putting money away each month, most people spend it and use a credit card with low APR as their safety net. And maybe lazy is not the best word. Maybe financially immature or irresponsible is a better term. I'm talking strictly about people who rely on CC as their "savings" thus having no savings account and putting $0 towards their savings each month, with no equity to back them up; so like 80% of the US population? (LOL).

There could be emergencies where a credit card can come in really handy. The trouble with that is, people use the term "emergency" really loosely now. It used to be things like medical emergencies or long periods of unemployment. Now, too many people consider the following as a real emergency: the boots I really wanted are on sale, or I really need that 4KTV because it's football season, or it's our anniversary so we have to go on a trip.

It may sound like I'm lecturing. Maybe. But it's more sharing my personal experiences. That was me from the age 20 to age 40. I spent tens of thousands in interest charges. Terrible.

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Not sure how that is a joke to you, I gurantee you that 100% of the population wants to put money away in savings but not everyone has a well paid job do so. 

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It isn't necessary to have a well paid job to put money away in savings. Anybody working at McDonald's in my state is earning more per hour than I do most years, but I still manage to tuck away some money each month. It's a pretty simple formula. Spend less than I earn, and save the difference. Many people simply aren't willing to do that.

[SunriseEarth]

We've certainly found ourselves into a lively discussion!   Unfortunately, it is too far away from the original topic of using "the nuclear option" to get better terms on a credit product.   The tangent topic is an excellent discussion for Personal Finance, but not in this thread.   I can either move the "safety net" topic into a new thread or we can return to this thread topic.   

Thank you for your participation.

SunriseEarth

Moderator