EFFORTPOST Couple of r-slurs exchange 0% interest cards for a 21% interest personal loan :marseyxd:

https://youtube.com/watch?v=35gHJt89gOo

Sam, 26

Michael, 28

Rio Grande Valley

Personal Life/Career:

  • Recently married, April 6th this year

    • Engaged for 4 months

    • Dating for 4 years

    • Never talked about finances before getting married?

  • Assistant Manager (Her) timestamp

    • 2'100 a month roughly
  • Truck Driver (Him) timestamp

    • 2'400 a month
  • She is currently in school? timestamp

    • Studying Social Work? Doing a Masters

    • She has student loans but I did not catch what they were

Financials:

  • Combined finances less than a month ago, she added him to her account

  • "Different opinions" on spending timestamp

    • She says she's more frugal, he likes spending on electronics and vehicles

    • He Upgraded to new iPhone, FOMOS into newest thing

  • How do their financial conversations go? timestamp

    • She says she wants to pay off debt quickly, "to zero as fast as possible" even if it's 0% apr

    • "He sees zero apr and he's like oh, we don't gotta pay anything at all"

  • They have zero in their savings (paid off some cards recently)

  • She paid off a few things that were at 0 instead of another 0 that was about just hit the interest period timestamp

    • "To be fair he signed up on a property without me knowing" :marseyxd:

    • 120'000 property? He told her he was going to look and he ended up buying it on sight? "Owner to Owner financing"

      • Before marriage

      • Paid 117'000 with financing?

      • Applying to refinance "soon" timestamp

        • Currently at 12% over 30 years

        • they want a lower monthly and fewer years

    • Specifics timestamp

      • 6'000

      • There's another 6'000 that went to paying the parents?

        • Paying back parents for wedding?
  • Built a 860 sq ft "frame house" on the property timestamp

    • Property is 3 acres

    • Building the house cost $37'000

  • Score timestamp

    • He says - 8

    • She say - 4

  • Credit Card 1 (Wells Fargo) ($4'120) tiemstamp

    • $42 minimum payment

    • 0% interest until October

    • 92 in new purchases

    • CC was opened because she wanted to start a business timestamp

      • Coffee cart selling expresso drinks outside markets

      • "Got busy" so she couldn't keep doing this, sold all equipment - didn't make money? timestamp

        • Awkward laugh when asked what she got from the sale? Got 2500 back?

        • Spent 10'000 on this?

        • Got a job because this wasn't working well?

  • Credit Card 2 (4'028) timestamp

    • Interest about to start accruing

    • Paid 5'000 - claims she doesn't remember where she got this

      • Balance was 9'000

      • After getting pressed, says it was from a 20'000 personal loan

    • 92 in new purchases

  • Personal Loan (21'749) timestamp

    • 21% interest

    • Gets pressed hard on why she traded 5'000 at 0% for a 21% :marseyxd:

    • more info timestamp

      • In her name

      • They didn't know it was $21'749

      • Weren't able to make any minimum payments because of his motorcycle? timestamp

        • He doesn't even use it and now it's busted - front shock went out and it would be a 2'000 repair bill
    • Paid off the bike with this timestamp

      • 227 a month

      • 7'000 balance on it

      • 7% interest rate :marseyxd:

      • Bike's used value is around $9'000

  • She remembers why she paid off his credit cards timestamp

    • She did not like the monthly minimum payments?

    • "I don't know what I'm doing"

  • Credit Card 3 (Lowe's) timestamp

    • Paid off, one of the things in that personal loan

    • Would have been interest free for another couple months?

    • Ate a late fee at some point

    • Was 2'000

    • Paid for a washer/dryer on here? timestmap

      • 0% financing at Lowe's

      • Her dad had given money for washer/dryer, he used it for the wedding and 0%'d the washer/dryer. She did not know about this and thought they were paid for in cash?

        • Her parents are divorced :marseyxd:
  • Credit Card 4 (Discover) ($10'656) timestamp

    • To build the house - he clarifies that it was finishing the interior of the house

    • "Because we didn't have the money for it" :marseyxd:

    • He has never watched the show before - she has

    • Roughly 3000 a year in interest accruing on this?

  • Credit Card 5 (City Simplicity) ($5'909) timestamp

    • His, she paid this one off as part of the personal loan

      • actually this was with the wedding gifts? 6'000 in wedding gifts? actually the wedding gifts and some savings?

      • Actually it was a different much smaller card she paid off :marseyxd:

    • 0% interest :marseyxd:

      • He thinks this ends by August

      • Actually it ended 3 weeks ago :marseyxd:

    • $59 minimum payment

    • 29%

  • Credit Card 6 (Home Depot)

    • Paid off
  • Credit Card 7 (Capital One Savior One) (Paid off) timestamp

    • A bunch of Amazon purchases on this one - for the wedding?

      • Lights, table covers, etc?
  • Credit scores -

    • His is 630

    • Her's is 695 (last she checked)

  • "How did she convince you to come on this show?" timestmap

    • He didn't want to come on :marseyxd:

    • He didn't watch the "on-boarding video" because "she didn't tell him about it" :marseyxd:

    • they try to justify their financial opinions timestmap

  • Purchased a water slide timestamp

    • He is trying to make money with this by renting it out?

    • $1'600 total

    • Hasn't been able to rent it yet? :marseyxd:

  • Bought some pc fans timestamp

    • He's been playing Helldivers 2
  • Attempts to convince them not to be r-slurred timestamp

  • He has 3 vehicles timestamp

    • 1 at his house

    • 1 at parent's garage

    • 1 his dad uses

  • Checking Account ($31) timestamp

    • Disastrous amount of eating out :marseyxd:

    • It's like they think credit cards are literally free money

    • 453 just on going out to eat :marseyxd:

    • Phone bill is $185 (they both owe on their phones)

  • An attempt to explain how interest works timestamp

  • Budget time timestamp

93
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I never understand how dumb some of these people can be. 4500 a month is perfectly liveable if you don't do stupid shit nonstop. Heck, it's not a worry free life but that's easily survivable in the US.

I guess I just can't fathom the concept of constantly collecting debt and not stopping every last frivolous purchase until the CC debt is paid off

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My thesis point. If you have debt besides a mortgage and MAYBE a car payment (case depending) you're r-slurred

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>Sorry kiddo, did a reverse mortgage on my home that's been in the family for 100 years because I've been eyeing a boat. Don't worry, you can have the boat when I'm gone

:boomermonster:

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Anyone who does a reverse mortgage is fricking stupid anyways so

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It can make sense in very specific circumstances.

Almost all of those will be relegated to a widowed/widower elderly person who either doesn't have kids or whose kids can't take care of them.

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At this point this is my retirement plan. If you're :foreveralone: it's free money.


https://i.rdrama.net/images/17184566433215551.webp

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@WayOut love sucking peepee

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It's for r-slurs who's only "retirement" was a house they probably got in a will.

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Based boomer tbh. Nepo babies deserve nothing

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:marseyconcerned: I'm sorry you grew up poor. That must have been rough

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Lol nah I grew up as a middleclass-cel, but demanding inheritance gibs from your parents is a little :marseycringe2: IMO

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Literally biblical levels of cringe (Luke 15:11-13)

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Luke 15:11-13

He said, "A certain man had two sons. The younger of them said to his father, 'Father, give me my share of your property.' He divided his livelihood between them. Not many days after, the younger son gathered all of this together and traveled into a far country. There he wasted his property with riotous living.

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Wow based

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I got a 2.8% fixed personal loan to do house renovations in 2022. The cost of the materials has gone up by something crazy like 30% since then.

I am definitely still r-slurred, though.

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Why not just cash flow it?

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At the time, I reduced the amount of cash I had and increased my fixed rate debts (by making investments and taking a second mortgage alongside this personal loan). Betting on continuing inflation and interest rate increases.

In retrospect, I should have been less cautious and borrowed as much as the bank could give me. The returns on my investments have outpaced the interest on the loans quite easily - which isn't difficult when your interest rate is fixed below inflation.

Now conditions have changed and I'm paying for things without taking on debt. Which feels bad man.

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Nope. If you have ยฃ4,000 cash and want to buy a ยฃ4,000 camera/bike/coffee machine and you don't buy that on a 0% credit card, you're r-slurred.

It's free money.

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0% APR + 5-25% pts + put that money in HYSA is ez living.

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How long are the 0% promotions? Like 6 months? That's like getting $100 (not gonna bother figuring out how to type out your fake money symbol) to make sure you don't frick up the paperwork w/ paying it off.

Doesn't seem worth it. I make way more than that per hour. I'd just buy it outright.

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In Bongland things depend on your credit rating but you can usually find offers for 24 months 0% credit.

You also get additional consumer protections buying on credit card compared to paying in full, since your credit provider takes on more liability of there's fraud or whatever you buy gets broken so they deal with it for you.

I'll usually just figure out what the monthly payment is to pay off in full before the promotion ends. It's all done via apps and you'd have to be r-slurred to frick it up nowadays.

Free money. Hardly any effort. Might be different in a third world shithole dictatorship like Burgerland though who knows.

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If it's an area where you can buy multiple acres of property, 4500 should be plenty

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They didn't qualify for a loan or anything. The former owner is raping them at 12% interest and letting them pay for it monthly


Read what I wrote above. Now picture in your head that I put a /s at the end. Good job sweaty! :marseygigaretard:

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hahaha you know I think caleb's reaction when she took out $5k on a 21% APR personal loan to pay off a 0% credit card debt may be his most shocked reaction yet

the stupidity of it is just baffling

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Lol at the property. They're paying $15K in interest per year to live in a shack.

:#marseyemojirofl:

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You left out Caleb asking her if she has โ€œnasty poopsโ€ near the end

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:marseysniff:

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:marseybrap:

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I never watch this, but enjoy reading your summaries :marseyclapping:

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Owner to owner financing at 12% jesus christ

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Jesus Christ

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expresso

Ruined the thread. Can't read anymore :mars#eyindignant:

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What strange country are you from that you designate number placements with apostrophes?

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He's from Australia so they're upside down commas

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Lmao classic story of foid blaming the moid, but plenty of the cc debt is hers

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Gosh, here you are, a "journ*list," and you are too stupid and lazy to do a god darn internet search that would take you less than a minute. And then you wonder why no one with a third digit in their I.Q. trusts a single fricking word from you and your kind? LOL. Seriously, I was a professional journ*list for 11 years, before dumb buttholes like you and your editors destroyed the basics. You are beyond pathetic, and the best thing you could do is quit and go do something you're qualified to do, like live in a cardboard box under a freeway overpass, selling meth and stolen bicycle parts. When you're not joining your antifa buddies in another "peaceful protest."

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