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  1. #1
    Founder Middle East - Geography game Champion, Shoot The Gems Hard Champion, Master of 3 Peak Champion, Win One Million Sec Edition Champion, Face Eater Typing Champion, Miami Zombie Typing Champion, Cross Clear Champion, Cute Connect Champion, Almost Millionaire Champion, Did You Know: Christmas Champion, Globez Champion, MathBlocks Champion, Mess in the house Champion, Fruit Faces Champion, Solitaire Golf SLingo Champion, Hexa Pool Champion, Eye Pop Champion, Alien Pop Champion, John  Mary Memory Champion, Cup Cake Memory Champion, International Holiday Match Champion, 4 Dragons Champion, Quix 2 Square Champion, The Numbers Champion, Mah-jong Mayhem Set 1 Champion, Suma Novel Champion, Sweets And Cakes Mah-Jong Champion, Math And Match Champion, The Painters Daughter Champion, The Dark Side Of The Forest Champion, Turquoize Room Objects Champion
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    Default Isnít this How the Last Financial Crisis Happened?

    I remember well when credit cards such as MasterCharge and BankAmericard credit cards started arriving in our mailboxes like manna from heaven, as many people thought...my Mama, being the brilliant woman that she was advised us to never ever put consumables such as food, gas and such on a credit card if a balance is carried over from month to month as you will still be paying for that tank of gas and fried chicken for years and years along with interest. During those days those credit cards carried about 18% interest. Anyway, I think that using home equity or any kind of credit to finance a life style is doomed to failure.

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  2. #2

    Default Re: Isnít this How the Last Financial Crisis Happened?

    I couldn't agree more! The only people that I know that charge big interest like that call it "vig". Pay as you go.
    I have a "Coward in Chief" who wears a Tin Hat, rather than a "Commander in Chief"

  3. #3
    Founder Middle East - Geography game Champion, Shoot The Gems Hard Champion, Master of 3 Peak Champion, Win One Million Sec Edition Champion, Face Eater Typing Champion, Miami Zombie Typing Champion, Cross Clear Champion, Cute Connect Champion, Almost Millionaire Champion, Did You Know: Christmas Champion, Globez Champion, MathBlocks Champion, Mess in the house Champion, Fruit Faces Champion, Solitaire Golf SLingo Champion, Hexa Pool Champion, Eye Pop Champion, Alien Pop Champion, John  Mary Memory Champion, Cup Cake Memory Champion, International Holiday Match Champion, 4 Dragons Champion, Quix 2 Square Champion, The Numbers Champion, Mah-jong Mayhem Set 1 Champion, Suma Novel Champion, Sweets And Cakes Mah-Jong Champion, Math And Match Champion, The Painters Daughter Champion, The Dark Side Of The Forest Champion, Turquoize Room Objects Champion
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    Default Re: Isnít this How the Last Financial Crisis Happened?

    Quote Originally Posted by Fastcar View Post
    I couldn't agree more! The only people that I know that charge big interest like that call it "vig". Pay as you go.
    “Vig”???
    "...of no more satisfying conceit than the discovery of such hidden depths of character in one's own child..." - From Survive the Savage Sea
    Integrity is doing the right thing when no one is looking.


  4. #4
    Founder Middle East - Geography game Champion, Shoot The Gems Hard Champion, Master of 3 Peak Champion, Win One Million Sec Edition Champion, Face Eater Typing Champion, Miami Zombie Typing Champion, Cross Clear Champion, Cute Connect Champion, Almost Millionaire Champion, Did You Know: Christmas Champion, Globez Champion, MathBlocks Champion, Mess in the house Champion, Fruit Faces Champion, Solitaire Golf SLingo Champion, Hexa Pool Champion, Eye Pop Champion, Alien Pop Champion, John  Mary Memory Champion, Cup Cake Memory Champion, International Holiday Match Champion, 4 Dragons Champion, Quix 2 Square Champion, The Numbers Champion, Mah-jong Mayhem Set 1 Champion, Suma Novel Champion, Sweets And Cakes Mah-Jong Champion, Math And Match Champion, The Painters Daughter Champion, The Dark Side Of The Forest Champion, Turquoize Room Objects Champion
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    Default Re: Isnít this How the Last Financial Crisis Happened?

    Years ago when the normal credit card interest was 18%, I remember reading an article in Money magazine that said if a person with a $3,000 credit limit card at 18% and charged up to the $3k limit and only paid the minimum payment each month it would take about 30 years to pay it off. Talk about an eye opener...
    "...of no more satisfying conceit than the discovery of such hidden depths of character in one's own child..." - From Survive the Savage Sea
    Integrity is doing the right thing when no one is looking.


  5. #5

    Default Re: Isnít this How the Last Financial Crisis Happened?

    Quote Originally Posted by KathyInAR View Post
    “Vig”???
    Or viggerish slang for the interest a loan shark would charge weekly for a loan.
    I have a "Coward in Chief" who wears a Tin Hat, rather than a "Commander in Chief"
    Likes Jeannie liked this post
    Thanks KathyInAR thanked for this post

  6. #6
    Founder Middle East - Geography game Champion, Shoot The Gems Hard Champion, Master of 3 Peak Champion, Win One Million Sec Edition Champion, Face Eater Typing Champion, Miami Zombie Typing Champion, Cross Clear Champion, Cute Connect Champion, Almost Millionaire Champion, Did You Know: Christmas Champion, Globez Champion, MathBlocks Champion, Mess in the house Champion, Fruit Faces Champion, Solitaire Golf SLingo Champion, Hexa Pool Champion, Eye Pop Champion, Alien Pop Champion, John  Mary Memory Champion, Cup Cake Memory Champion, International Holiday Match Champion, 4 Dragons Champion, Quix 2 Square Champion, The Numbers Champion, Mah-jong Mayhem Set 1 Champion, Suma Novel Champion, Sweets And Cakes Mah-Jong Champion, Math And Match Champion, The Painters Daughter Champion, The Dark Side Of The Forest Champion, Turquoize Room Objects Champion
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    Default Re: Isnít this How the Last Financial Crisis Happened?

    Quote Originally Posted by Fastcar View Post
    Or viggerish slang for the interest a loan shark would charge weekly for a loan.
    Thanx! I hadn’t heard that term.
    "...of no more satisfying conceit than the discovery of such hidden depths of character in one's own child..." - From Survive the Savage Sea
    Integrity is doing the right thing when no one is looking.


  7. #7
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    Default Re: Isnít this How the Last Financial Crisis Happened?

    I have always drilled into my kids to never risk their home. Never take a loan against it.
    Likes Jeffrey, Fastcar liked this post

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