italdesign
Level 2 Member
1. you have a problem with trying something 5-100x before giving up.
2. you have a problem dealing with frustration.
To be continued...
2. you have a problem dealing with frustration.
To be continued...
This game is not for you if ____
- Thread starter italdesign
- Start date
GettingReady
Level 2 Member
1. Are in debt
2. Don't have money to float
3. Forgetful
2. Don't have money to float
3. Forgetful
I disagree with this one. If anything, being in this game has helped me accelerate paying off my debt - through cashback, getting introduced to reselling, being able to push travel expenses to non-cash methods... all of those have helped me pay off about $10k in additional debt, cover $3k in wedding expenses and $5k in medical expenses over and above what I was already doing.
If you're responsible in managing your debt and disciplined, having debt shouldn't be in and of itself a disqualifying issue.
GettingReady
Level 2 Member
Not directed at you but for most people I imagine debt is from a lack of discipline. Putting the two together seems like an oxymoron. People are in debt because they're not disciplined to save, to prepare for future needs, to wait until they can afford something, etc.
After I got married and found out my dh was 40k in debt, our lives were on hold until it was paid off. No vacations, no eating out, working 40-60 hrs a week. I didn't care that part of the debt was his house. It was still debt!
Debrae0322
Level 2 Member
Here's a recent post on Facebook:
"I need guidance on the strategy of using a credit card with points for all purchases and then paying it off every month. I got into some credit card trouble and now have the balances down to two low-interest cards while not using them anymore. I'm managing to build up my emergency fund at the same time. My girlfriends and I are planning a short cruise in about a year (they're pretty inexpensive), but I'd love to pay for the airfare with points."
Some debt is "better" than others (like mortgage vs consumer), but really I think it comes down to getting your sh*t together first.
GettingReady
Level 2 Member
It would be interesting to read the replies. A couple of pet peeves is seeing young people post that they now own their first home, or credit card apps asking if you own or rent. If you click own then they want your mortgage payment. Hmm, if I have a mortgage payment then I don't own the home. The mortgage company does. However, that's the mentality being instilled in young people. That, and eating out, and putting things on CCs. I was out on my own at 16. It took a year (at 17) to save my first 1k and I still remember how proud I was.
GettingReady
Level 2 Member
Amen!
italdesign
Level 2 Member
Completely off topic now, but related to the game, there's an inverse relationship between hitting a deal hard and the security of your points in that program. i.e. hit OBC/Ink 5x too hard and you might get shut down. So we certainly don't have full control of our pts. And of course the program could go under.
And if you can lose half of your money in a few days (via market crash), do you really own your money?
Kinda depressing.
Milestogo
New Member
I think it is far more effective to concentrate on what you can do than concentrating on the what if's in life. You can pay down your debt, whether you rent or own you do have a roof over your head, unless you are in a coma you can research and learn and then you get rewarded with a great trip making lifetime memories. I think fear of change is the only thing that keeps anyone from getting involved in this hobby. Yes, it takes time and effort, yes it takes discipline and organization, yes it takes patience. When I am sitting on a beach at a beautiful resort, I am not thinking about the obstacles it took to get there, I am only thinking about how glad I am that I did this.
Yes, but it is a generational thing. I don't know how old you are, but if you are near retirement, you are the age of most parents of a generation who has student loans. This kind of debt was much less common before because of a complex mix of factors. And student debt, unlike other debt, cannot be discharged in bankruptcy. My children do not have student loan debt and they are rare in their generation.
Matt S NYC
Level 2 Member
Amongst my peers (late 20's early 30's), it's nearly impossible to not be in some sort of debt if you went to school. It's just so expensive these days compared to even 20 years ago. My brother just completed undergrad + law school and it cost over $300k. No amount of discipline is going to help you stay out of debt in this circumstance unless you have a lot of help from your parents.
That said, you are right that there is a huge component of our society spanning all income brackets that lacks spending discipline. Those people should stay the hell away from this game or they will get themselves in trouble!
If you aren't willing to make mistakes, be disappointed, aren't flexible, and cannot manage to figure out how to use your poker face. I cannot decide who should or shouldn't be in it. But I know it appeals to more people than should be doing it.
italdesign
Level 2 Member
The advantage of being born to Asian parents is that you're virtually guaranteed to not worry about the cost of education, LOL (my parents and I split half half, FWIW). It seems very common for my coworkers (white collar) to pay for children's college too.
I don't think you have to go back that far. I graduated about 10 years ago. Someone just told me the current tuition cost and if he is right, it's 2-3x of what I paid. Shocking.
GettingReady
Level 2 Member
Pushing 59. Unfortunately, as you said, school debt is becoming the norm. One has to question if the cost/benefit is worth it. Thankfully we were able to pay for our son's undergrad. He did his part though by going locally and being a dual enrolled student. He did go two years out of state, after his bachelor's, at a small bible college at 17. We viewed that as a transition time and we were fine footing the bill. Also helped him with an apartment after he graduated for a year to give him time to figure things out. He had to start off in some min. wage jobs, made some decisions, and about a year later landed a career job making more than we ever did.
GettingReady
Level 2 Member
Can't even imagine that kind of debt. Paying 50k a year would still take 6 years and there's the opportunity cost which most people don't factor in.
Matt S NYC
Level 2 Member
Lucky for him he doesn't have debt, but only by the grace of our parents. Many of his friends and 1st-year lawyers will be struggling for a long time. Many of them would have preferred to do something, dare I say more honorable, then work for a huge firm, but don't have the option right now.
Have to brag about every great deal you find to everyone you see.
Brian Knudsen
Bknut83
don't know how to use the internet
Is that a new reloadable prepaid card?
TravMomof2
Silver Member
Forgetful - Newbie mistake - I used an old Amex just keep it "active" then forgot that I used it. Bill was due. I never got a notice or didn't see it or whatever. Anyway, 2 months later I realize I totally forgot about that charge and it ended up being a late payment with late fee. All just to keep the card active. Waste of money and now I have a late fee on my account with Amex (not sure if that'll effect future Amex cc app approvals). THEN I somehow managed to pay the bill twice so now I have a credit sitting on the account.
Lesson learned - You MUST be organized and don't forget stuff like paying the cc bill!
Forgetfulness and lack of good organization keep me only ankle deep in the game. I dabble with MS, but usually only to hit what I need for a trip or to hit a min spend. If I hit it 5 or 6 figures hard, I am sure I would stumble somewhere so I play where I am comfortable.
I do like the challenge of finding undiscovered deals, which keeps me interested despite my shortcomings.
EDIT: Now where did I put my damn keys.
I do like the challenge of finding undiscovered deals, which keeps me interested despite my shortcomings.
EDIT: Now where did I put my damn keys.
italdesign
Level 2 Member
There should be a few on your keyboard.
italdesign
Level 2 Member
9. You don't like spreadsheets.
Barefootwoman
Level 2 Member
I've gotten by pretty well so far....lol
nickelfish1
Level 2 Member
don't like constant fraud alerts
30French
Level 2 Member
I feel like I do pretty well, but everyonce in a while a VGC will turn up under my car seat or in the laundry and I have to check the balance to make sure it's cashed!
Barefootwoman
Level 2 Member
I've learned not to MS and drink at the same time.
