The Credit Guy

Member Since 06/22/2017

  • The Credit Guy 7 years ago on I’m Pretty Hyped For Jury Duty

    Jury Duty was one of the coolest things I’ve done as a citizen of these United States. I was the Jury Foreman on a two-defendant attempted murder/aggravated burglary case. The prosecution couldn’t prove their case, and honestly, the defense’s timeline of events seemed to be backed up with more fact. We acquitted one defendant of all charges and the other of all but a minor charge (reckless endangerment). Our jury was truly a cross-section of the community, and I think we all would agree that we set aside our differences and any pre-conceived biases to come to a true and just verdict. Getting to read a verdict aloud to the court and provide unbiased justice was an honor, and I’d take the opportunity to do it again in a heartbeat.

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  • The Credit Guy 7 years ago on Getting Out Of Debt: Self-Restraint

    I have to agree with Bill on this one. Even if she’s only paying the average rate of credit card interest (15.07%), saving $1,000 instead of paying off that debt is going to cost her $162/year in interest. It’s very possible she’s paying even more than that.
    The best course of action if she has $1,000 to work with is to pay her card down, and if she has an emergency she has an extra $1,000 in CC availability to use.
    The opportunity cost and time value of money all point toward paying off the debt first. Obviously you don’t want to ride your bank account down to $5, but as long as you keep enough of a cushion to stay off of the overdrafts, you’re better off paying off debt rather than holding onto your cash.

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  • The Credit Guy 7 years ago on A Dude's Breakdown Of "The Bachelorette" Finale

    Everyone I was watching with was looking for the plot twist too. In the end, ABC’s huge plot twist was that there wasn’t one. Pretty ironic that they spent an hour+ on Peter and Rachel’s back and forth and maybe 20 minutes on the entirety of picking out a ring and the proposal. Eric even said in an interview that “I think Bryan was the consolation prize…he was second place.”

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  • The Credit Guy 7 years ago on A Dude's Breakdown Of "The Bachelorette," Fantasy Suite Dates

    The phrase “I’m a Chiropractic Physician” absolutely made me cringe.
    I still stand by my stance that, if Dean and Raven don’t get together in Paradise, Dean will be the next Bachelor. I’ve still got Peter as my winner despite all of the “I might not propose” stuff. ABC did the same thing with Vanessa in the Bachelor this year, and I feel like it’s just a way to give this season some suspense.

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  • The Credit Guy 7 years ago on Getting Out Of Debt: Credit Cards

    I agree with the idea here, but I would add that you should be careful with the extra credit availability. It’s easy to see an extra $8,000 in availability open up and spend it without thinking. If you’re not quite disciplined enough for that, my advice would be to rank your outstanding credit card debts from highest interest rate to lowest, then pay aggressively on the highest interest and pay the minimum on the rest. Do that until the highest interest card is paid off and continue the process with the next highest.
    The important thing is to not incur more debt while you’re doing this. Buy only what your paycheck will allow (after all of your debt/rent payments), so your credit card balances don’t go the opposite way you want them to. Eating ramen and boxed mac-n-cheese for a little while sucks, but the long-term reward is worth it.
    P.S. As far as your Net Worth goes, give yourself some credit on the Asset side of your balance sheet! Just because you don’t have any “savings”, doesn’t mean you don’t have any assets.Add your car, furniture, personal items, and cash in the bank to your assets. If you have a 401k at work, add the vested balance to the assets side too!
    Best of luck getting everything paid off. It’s a process and it takes a while, but it’s worth it in the end.

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