When I finally got rid of my 2000 Mercury Sable in 2018, it had 421,000+ miles on it. Routine basic oil changes are an up-front expense that will save you much more money down the road.@Flash wrote:
They get their routine maintenance religiously and they seem to be lasting forever.
Online savings accounts are earning WAY more than brick and mortar. American Express Savings and Goldman Sacs (Marcus) savings accounts are currently earning 1.6% and 1.55% APR currently. There is no minimum balance required to start or maintain the account, and the account holder can do up to 6 withdrawals per monthly statement. Really easy to transfer funds in and out, too.
Never ever take a cash advance on a credit card. Call me captain obvious but some people just don't know that the interest rate is around 25% AND interest begins accumulating the very day you take that advance. Not like regular credit card usage where interest is added after a month or so.
You'd probably get a better deal with a neighborhood loan shark!
6. Hack Your Way to Drop Cost with Coupons, Card Offers, etc.: In my case, I've been stocking up on a LOT of Amazon gift cards, as I'm able to easily purchase them for 10% off. For every $1,000 I frontload, where I can purchase other gift cards to other outlets as needed, I pocket a tax-free $100 on the backend. This adds up quite quickly.
Where do you find Amazon cards for 10% off? I never see that with any of the card discounters.
If you have an Amazon gift card, they will offer specials on topping that up when you order something. Apparently they do that with other vendors' cards as well. At least, that is how I read the last post.
Stop buying lottery tickets. Powerball, scratch offs, whatever they are. Chances are, will never win enough to exceed or even meet your lifetime expenditure on these. I will never understand how people on a low/fixed income spend $20-50 on this crap as soon as their, "Check comes in." I have heard so much of this at gas stations over the years.
If I could get those low-income folks to spend $20-50/month on gold or silver ETFs...they'd be making money.
GLD (although, I prefer SGOL and PHYS now for higher security)
$118 in December 2018
Better than a bank CD for sure! Better than their lottery ticket gambling most likely. With so much money printing right now throughout the world and a global recession, gold is set to rise for many years.
For people wanting to own it in a stock or ETF, I'd recommend the safest route, which is:@ wrote:
Before the COVID-19 pandemic, most private banks recommended their clients hold none or just a tiny amount of gold.
Now some are channelling up to 10% of their clients’ portfolios into the yellow metal as the massive central bank stimulus reduces bond yields - making non-yielding gold more attractive - and raises the risk of inflation that would devalue other assets and currencies.
While gold prices have already risen 14% since the start of the year to $1,730 an ounce, many private bankers bet that gold - a hedge for both inflation and deflation - has further to run.
“Our view is that the weight of monetary supply, expansion, is going to ultimately be debasing to the dollar, and the Fed commitments, which (are) anchoring real rates, make the case for gold pretty sturdy,” said Lisa Shalett, Chief Investment Officer, Wealth Management at Morgan Stanley (MS.N).
Meanwhile commodities have exploded. Gold through the roof, as people want to preserve their wealth from inflation.@ wrote:
As recently as last year, online high-yield savings accounts offered interest rates of 2% or higher. But now, you’ll be lucky to find half that rate, as some of the most popular accounts have dropped interest rates below 1% to “all-time lows,” according to Ken Tumin at DepositAccounts.com, a website that tracks savings rates.
Barclays and Marcus by Goldman Sachs cut savings rates to 0.8%, while Synchrony Bank’s new rate is 0.75%, the lowest all three banks have ever offered, Tumin says. Capital One’s savings account rate also fell from 1% to 0.8% this week.
Warren Buffett’s Berkshire Hathaway (BRK-A, BRK-B ) stock moves for the second-quarter are out, revealing a new position in Barrick Gold.
According to a 13-F regulatory filing, Berkshire Hathway snapped up approximately 20.9 million shares of Barrick Gold (GOLD), a position valued at $563.5 million at the end of the quarter.
I think the case for commodities - including gold and silver - outperforming U.S. stocks over the next decade or so is very strong. In terms of wealth preservation and growth, I would definitely recommend people hold some gold/silver and/or other commodities.@Tarantado wrote:
Eh. Still not budging on buying gold over just contusion investing in index funds. My ETF’s are basically back up to pre-COVID numbers and never sold a cent of my shares and only dollar cost averaged throughout this entire time.
I've cord cut and just watch YouTube (free version) nowadays. I do not own Disney+, nor Netflix either.@Shop-et-al wrote:
Who remembers Judith Levine and Not Buying It: My Year of Not Spending?