Total Motorcycle Community Forums

CNF2002 wrote: Indeed. I'm not very financially stable yet, since I'm only a couple of years out of college. But 10% of all my income goes directly to savings. Plus other savings and investments. Its not hard at all "pay yourself less" and live off a slightly smaller income to make way for a solid savings vehicle.

Smart move. I started doing the same thing when I was about your age. I lived in a place that wasn't so great, and rode an old motorcycle instead of buying a car. I was not comfortable relying solely on my employer for my continued existence. Having some measure of financial independence can make life a lot more enjoyable. I know folks that are so tied to their paycheck that they will take enormous amounts of abuse from their employer because they just don't have any other options.

One easy way to save up is to bank any raise you get as you move up in the world. Instead of going out and spending all of your "new" money, just keep living the same lifestyle you did before you got the raise and put away the rest.

yeah..It's kinda scary how folks don't save. Socking back a percentage of your income and fresh outta college?...You could be in a carnival freakshow...folks would come from miles araound to see that oddity!.

Speaking of credit ratings, the other day I was contemplating how ridiculous the credit card companies have gotten with the elite status ranking cards. Boy, I thought I was ridin' high when I got the gold, then the platinum came along, then the diamond, and so on......where will it go from here.

My credit has gotten so good, my credit card company just upgraded me to the Mastercard Shiny Diamond card with chocolate and sprinkles on top!

Zagnut wrote:. Boy, I thought I was ridin' high when I got the gold, then the platinum came along, then the diamond, and so on......where will it go from here.

They're running out of rare metals, but there are still a few left.

Introducing : The Visa Plutononium Card!

They can offer different isotopes, depending on your creditworthiness.

Yes, the credit card 'names' are meaningless now. A basic low-limit card can be a gold platinum elite member card now.

Whatever makes the customers feel good I guess.

Go to a local bank or credit union, even a an online lender. then you become a CASH customer which can save you money. Be on notice the lender may not tell you up front but they usually want GAP insurance. That covers yoiu and them for the depreciation should something happen.
Example..You pay 10K, ride off the lot and it is now worth 8K, It gets stollen, you're on the hook for 10K. GAP insurance picks up the 2K. K?