All very good points, especially the part about credit cards. I would say that applies to everyone (not just in retirement). If you allow a balance to build it will snowball very fast. Paying the full amount each month makes sense if you are keen on maintaining your credit score. I know this does make sense, but I tend to ignore my credit score. At the end of the day, a credit score is only good for securing more debt 🙂 I have an account I pay into each month and that's my "spending money" If I want to make a purchase that is where it comes from.
I had credit card issues when I was young. My credit score allows me to take on more debt...if I want. It's nice to know it's there for emergencies if need be.
Nice to have a real persons perspective. You are not alone with being stupid with credit cards when you were younger. Let’s call it what it is lol. I did the same thing. Was a painful 5 year lesson for me.
It took me 2 years to pay off my lesson. Never again. Truth hurts, lesson, learn. Thanks for stopping by, i really appreciate that. Have a great weekend.
I don’t disagree with your points but my question to you is do you budget? If you set a budget for eating out (along with everything else), then you spend that money on whatever type of meal you want, expensive or not. If you don’t budget then you may want to do what you referred to like Costco to ensure you don’t overspend in that area.
We frequently dine out (where we want). We have expenses and spending money, so yes we budget. We also have an emergency account for things like a new appliance should it fail for example. The hotdog analogy was a way to think on how to save money if you go out for a hotdog. There are people that don't have that luxury and are trying to save. Thanks for stopping by, I appreciate that.
Oh we pay/paid (taxes) for it but it's nice to be able not to have worry about coverage and just worry about our health and getting better when it's needed.
Thank you for pointing that out...I tested on my ear phones and had the same thing. Went to the mic settings after my last video having the same issue. Tested and should be corrected for future videos.
This channel is all about sharing any wisdom I have regarding retirement. Some will effect people and some will not. Hopefully I effect more people than none! LOL Thanks for stopping by. I appreciate that. Enjoy the day.
@@myretiredlife13 - My point is that you seem to expect schools to teach EVERYTHING. We can't & you probably wouldn't have listened anyway (as you admitted).
I never said that. I said, they never taught finances. I did surprisingly well in school so I must have been listening to some degree. Teachers have way too much burden now a days. Have a great day.
For Tech I buy refurbished, also called 2ed hand from companys that give you a warranty.
Smart. great way to save on tech!
Great advice Scott. They should have this advice in the school curriculum for young people.
Some people will never learn these lessons!
All very good points, especially the part about credit cards. I would say that applies to everyone (not just in retirement). If you allow a balance to build it will snowball very fast. Paying the full amount each month makes sense if you are keen on maintaining your credit score. I know this does make sense, but I tend to ignore my credit score. At the end of the day, a credit score is only good for securing more debt 🙂 I have an account I pay into each month and that's my "spending money" If I want to make a purchase that is where it comes from.
I had credit card issues when I was young. My credit score allows me to take on more debt...if I want. It's nice to know it's there for emergencies if need be.
Nice to have a real persons perspective. You are not alone with being stupid with credit cards when you were younger. Let’s call it what it is lol. I did the same thing. Was a painful 5 year lesson for me.
It took me 2 years to pay off my lesson. Never again. Truth hurts, lesson, learn. Thanks for stopping by, i really appreciate that. Have a great weekend.
best advice ever for all ages
Living within your means is great advice for anyone.
Great advice- thank you 🙏🏼
It was my pleasure. Thank you for stopping by.
I don’t disagree with your points but my question to you is do you budget? If you set a budget for eating out (along with everything else), then you spend that money on whatever type of meal you want, expensive or not. If you don’t budget then you may want to do what you referred to like Costco to ensure you don’t overspend in that area.
We frequently dine out (where we want). We have expenses and spending money, so yes we budget. We also have an emergency account for things like a new appliance should it fail for example. The hotdog analogy was a way to think on how to save money if you go out for a hotdog. There are people that don't have that luxury and are trying to save. Thanks for stopping by, I appreciate that.
We are fortunate in Canada not to have to pay for medical expenses
Oh we pay/paid (taxes) for it but it's nice to be able not to have worry about coverage and just worry about our health and getting better when it's needed.
Great video.
Thank you & thanks for stopping by. I appreciate that.
Audio is not so good 😢
I played it back and it seemed ok. Odd. 🤔
Whew...you had me worried there for a second. Glad it worked out for you. Enjoy your day!
Great info but Audio only in right headphone.
Thank you for pointing that out...I tested on my ear phones and had the same thing. Went to the mic settings after my last video having the same issue. Tested and should be corrected for future videos.
Wonderful wisdom!!
This channel is all about sharing any wisdom I have regarding retirement. Some will effect people and some will not. Hopefully I effect more people than none! LOL Thanks for stopping by. I appreciate that. Enjoy the day.
Cash will never go away. Not everyone can obtain a credit card.
Here is Canada it is slowly disappearing. Sadly.
Cash will be gone within the next 5 years. Guess you don't know about CBDCs
Let’s go eat at Costco for your BD 🤔 cause Red Lobster to expensive. Special occasions should be worth it.
Of course there are special occasions. I was trying to help save some cash for people on a daily basis! Thanks for stopping by
Real cash is gold.
I have a few investments in gold.
🍻
Thanks for stopping by.
If you didn't listen to your father, you probably wouldn't have listened to any teacher if there was a financial literacy class.
Surprisingly, I did pretty well in school! LOL. Thanks for stopping by. I appreciate that.
@@myretiredlife13 - My point is that you seem to expect schools to teach EVERYTHING. We can't & you probably wouldn't have listened anyway (as you admitted).
I never said that. I said, they never taught finances. I did surprisingly well in school so I must have been listening to some degree. Teachers have way too much burden now a days. Have a great day.