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How Many Is Too Many?

sdalton

By sdalton
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Toadz Enthusiast

Toadz

Posted
Posted
It is great to see a young person with their head on straight. If more people were like you then the country wouldnt be in the mess we are in.

 

Meaning if more teenagers got a brand new SUV as a gift from their parents who taught them nothing about how to use and respect credit? (FYI: I don't want to start anything with this comment or go off topic but I just found humor in it. Chances are the kid is responsible but from just that little bit of information it's impossible to say whether or not we'd be better off if more people were like him. Back on topic! :))

 

 

exactly. but i live in a seperate barn on my parents property.. have had 2 well paying jobs for a long time. give my parents a couple hundred for rent every month. life is good

 

Amen to that!

 

I've got an '00 Sierra, '96 Sonoma, '65 Fairlane, two quads, a snowmobile, and two motorcycles. That's not including the vehicles, motorcycles, and snowmobiles my parents, brother, and sister own. We all live in the same house right now so our property looks like a car lot also!

  • 2 weeks later...
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brandon_guzzo Enthusiast

brandon_guzzo

Posted
Posted
It is great to see a young person with their head on straight. If more people were like you then the country wouldnt be in the mess we are in.

 

Meaning if more teenagers got a brand new SUV as a gift from their parents who taught them nothing about how to use and respect credit? (FYI: I don't want to start anything with this comment or go off topic but I just found humor in it. Chances are the kid is responsible but from just that little bit of information it's impossible to say whether or not we'd be better off if more people were like him. Back on topic! :lol:)

 

 

exactly. but i live in a seperate barn on my parents property.. have had 2 well paying jobs for a long time. give my parents a couple hundred for rent every month. life is good

 

Amen to that!

 

I've got an '00 Sierra, '96 Sonoma, '65 Fairlane, two quads, a snowmobile, and two motorcycles. That's not including the vehicles, motorcycles, and snowmobiles my parents, brother, and sister own. We all live in the same house right now so our property looks like a car lot also!

 

 

I thank Mkelly for stating that. However I just wanted to state that Neal is somewhat correct in what he is saying. My parents have raised me well and probably the only reason why I do not see the need for a credit card is because neither of my parents both in their late 40's have one. My dad has always told me "don't spend what you don't have". I do however see the point about eventually needing a credit card the moral is you just have to be responsible with it. Sorry for straying off-topic.

 

Brandon :sigh:

  • 1 month later...
gregrocks89 Senior Enthusiast

gregrocks89

Posted
Posted

I'm 21 and I just have my 04 silverado 2500, 2009 yz450, couple computers (one being a laptop and on being a desktop and costing $2000 a piece), 3 credit cards, and buying a house in the next couple of months. My truck, bike, and my laptop are payed off. My cards were payed off but i had a slow summer last year and they came in handy.

truckofwinandawesome Senior Enthusiast

truckofwinandawesome

Posted
Posted

at one point in our driveway, we had a 1986 Honda Accord (sold now), my Plymouth (214,800 miles, Still mine, and Still going strong!), a 1979 Ford Mustang (soon to be going to my school for MAJOR body work), our 1981 GMC C1500 Sierra Classic (we sold it to a Co Worker at Lowe's when we got the Win and Awesome) our 1989 Chevy Celebrity (in the Process of selling it to a Trucker Friend who needs a car when his GMT400 Sierra is in Indiana at the Trucking Company's Yard), a 1990 Pontiac Bonneville (sold it to a friend, and there is a funny story about when the guy picked it up.) and our 1999 Dodge Caravan (still got it.). oh, and I have a two computers myself, an Acer Aspire 3000 (which this reply is being typed on) and an Acer Aspire One D250-1165 (which is currently undergoing Hard Drive recovery after its Cheapass Western Digital Hard Drive decided to fail two months after the factory warranty expired.)

  • 5 months later...
plunk77 Enthusiast

plunk77

Posted
Posted
Im 18 have silverado, trailer, ATV, and a new infinity fx.

 

 

Hopefully you inherited a lot of money and paid cash for all that....... 18 years old with 40k+ tied up in a depreciating asset is a bad way to start life.

 

 

That there my friend is very true. The truck and ATV I bought and the SUV was a gift from my parents. I am currently going into university and am dept free. I do plan on selling the truck soon but the question is when. I work full time in the summer at the conservation authority and schooling the rest of the year. I also do not believe in credit cards because I have only heard bad things from them aka know your spending limit.

 

 

 

It is great to see a young person with their head on straight. If more people were like you then the country wouldnt be in the mess we are in.

 

 

 

If I were you I would re-think your anti-credit stance. The problem is not having a credit card will actually lower your credit score. Later in life you may need credit if you plan on buying a house. I would get a card and make sure the balance is paid off at the end of every month.

 

 

I am not sure the credit score is as big a deal in the Canadian economy. Other that US advertising, we hear almost nothing about credit score stuff. I am in my 50s and have no idea what my credit score is, or how I would even get it. Same goes for everyone that I know well.

I own my house, and pay credit cards off at months end. I use the cards to generate the premiums and gifts they give, otherwise I pay cash.

 

 

it wont bring down your credit score, it just wont change. but if he does that till the day he has to buy a house, or actually needs a card fro something. it will be tough because he is stuck with a 18 year old credit score until he decides to get one, i got my first card when i was 18. now im almost 25 and i have 2 cards and credit line, all with 5 digit limits. i keep them in good standing, when i go to the bank and ask for anything its not an issue at all. they let me borrow whatever, and i have a little bit of a security blanket if i break a leg and cant work. credit isnt a bad thing, only when its abused. like in the states, where people borrow more money than they should and just make minimum payments for the rest of their life. when the bank just laughs all the way to the...bank i guess!! compounding interest is what is killing the USA housing market. if you are responsible with it, its a good thing.

 

 

I'm 21 and i've had a credit card since i was 16. I opened a checking account and applied for the hell of it and somehow got one. i use it all the time and just pay it off from the money in my checking account. My dad said it would help me build credit, and it did. When i went to get financing on my truck, because of my good credit i only had like a 3% interest rate. (I decided to take a loan out for the truck because right now it is the only loan I have- My school is paid for through scholarships). I would suggest to every one my age or younger to get a credit card because it will help you a lot down the road.

 

trust me, I'm a finance major :)

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