Riders @ Stampeders

[Brandon]

They push it down our throats ...    when we bought our last house the bank and the real estate agents were pushing hard for us to spend the maximum amount that we could.   They looked at like we were crazy because I wanted to spend closer to $400 000 rather then $700 000.     Same thing when we bought furniture they kept pushing credit cards and buying max amounts. Same with the cars....    A more naïve or weaker person would easily cave in because all you have to do is say yes and boom you can get something that is out of your real price range. 

The bank was the worst... they kept bringing up that me and my wife had a decent sum of money stashed in our bank account and that we *must* put it towards buying a more expensive house.    They said rarely does anyone have anything in savings and that we could get even more of a house if we used our savings and then made minimum monthly payments on the mortgage.    My response was that we like having money in the bank in case of emergencies and that we want to save for our kids educations... they made it seem like we were crazy because that's what a line of credit is for.    Such a f'd up mindset that is pushed on people....

Edited October 24, 2018 by Brandon

[JCon]

1 minute ago, Brandon said:

They push it down our throats ...    when we bought our last house the bank and the real estate agents were pushing hard for us to spend the maximum amount that we could.   They looked at like we were crazy because I wanted to spend closer to $400 000 rather then $700 000.     Same thing when we bought furniture they kept pushing credit cards and buying max amounts. Same with the cars....    A more naïve or weaker person would easily cave in because all you have to do is say yes and boom you can get something that is out of your real price range. 

That's what banks do. They're in it for them, not you. 

[Bigblue204]

1 minute ago, Brandon said:

They push it down our throats ...    when we bought our last house the bank and the real estate agents were pushing hard for us to spend the maximum amount that we could.   They looked at like we were crazy because I wanted to spend closer to $400 000 rather then $700 000.     Same thing when we bought furniture they kept pushing credit cards and buying max amounts. Same with the cars....    A more naïve or weaker person would easily cave in because all you have to do is say yes and boom you can get something that is out of your real price range. 

Had the same experience when we bought our house. Approved us for around 550,000 when we were about 23 years old or so. And we could have afforded it, as long as we didn't want any food, heat, water, electricity or anything else that cost money. We went in, questioning if they would even approve us at all, and were blown away when they told us what we could get.

[Tracker]

4 hours ago, do or die said:

Over the years, I have realized that one has to cut down somewhat, and be a more responsible citizen, on this planet.  Hence, no mix with my gin......

You sacrifice has been duly noted. Very noble of you.

[jazzsax]

4 hours ago, SpeedFlex27 said:

Like I said, I'm clearing off all my debts because now I can. I no longer need a LOC, my house is nearly paid off.  My  car is paid off, & I don't want to buy another one. Both my sons are married. Now, I just want to be able to retire debt free. Live off my pension, CPP/OAS & RRSP's when the time comes.

Your criticism of people in debt while noble, doesn't speak to the reality of where most people are at money wise. People need credit because everything is expensive. Not too many people have the spare cash to buy even a decent used car let alone a new one. In some cities like Vancouver & Toronto the dream of home ownership is... just that... a dream. We are taxed to the hilt & more by greedy governments. people are just getting by. Now we have to deal with Trudeau's carbon tax. So, jazzsax maybe you make the kind of $$$ that allow you to do the things you want to do. Most don't.  Also, I've found thru my life experience that things change in peoples lives. Sometimes very quickly health & finance wise. You're laying in the tall grass one year & putting out brush fires the next. 

Speed,

People don't need credit because everything is expensive. People can choose what to use and whatnot. Ignoring the obvious socio-economic factors that minimum wage, etc could impact, I'm referring to middle of the road, blue collar / white collar jobs, sub 100K salary (let's say 50K even). 

We run our house with a tight ship. If we need it today it's an emergency, otherwise we buy when it's on sale, or order from amazon to save money. We plan trips around timings that cost less, watch for seat sales, etc. We don't shop high end grocery stores --- we watch the flyers and buy bulk. It's afforded us to literally buy organic for the important stuff (milk, fruits, veggies), and buy quality meats, because we buy half a cow at a time, or we buy in bulk with other friends. 

If you saw our income you'd be shocked how we manage. We run a tight ship, but it's a choice. We still take family vacations, we still do sports, we still do everything else, but what we don't do is $5 coffees every day, $40 ATM withdrawals for random expenses we can't track, etc. 

If we have clutter that we don't need, we sell it on kijiji. If we're doing a reno, we manage it ourselves and hunt down the trades ourselves. 

Yes, I deal with the same taxes you do. Honestly I work with probably 150+ clients (personal and business) and see the difference between those who are intentional, and those who run paycheque to paycheque. Those who run paycheque to paycheque don't think about how they're spending --- I see it on their bank statements. Liquor stores, constant fast food, etc. 

Yes I'm generalising, but my experience has shown that the middle class if they manage their "home" right (barring the rare emergency) can save, spend less, still live a good life, and retire reasonably comfortably. 

Walmart is still walmart. You can still buy reasonably priced goods. Value village has great clothing at affordable prices. The average middle class family, with middle class income, shouldn't have a problem living if they are *INTENTIONAL* about how they manage their finances. 

I would argue this one until I'm blue in the teeth. Sorry. 

 

[jazzsax]

1 hour ago, Brandon said:

They push it down our throats ...    when we bought our last house the bank and the real estate agents were pushing hard for us to spend the maximum amount that we could.   They looked at like we were crazy because I wanted to spend closer to $400 000 rather then $700 000.     Same thing when we bought furniture they kept pushing credit cards and buying max amounts. Same with the cars....    A more naïve or weaker person would easily cave in because all you have to do is say yes and boom you can get something that is out of your real price range. 

The bank was the worst... they kept bringing up that me and my wife had a decent sum of money stashed in our bank account and that we *must* put it towards buying a more expensive house.    They said rarely does anyone have anything in savings and that we could get even more of a house if we used our savings and then made minimum monthly payments on the mortgage.    My response was that we like having money in the bank in case of emergencies and that we want to save for our kids educations... they made it seem like we were crazy because that's what a line of credit is for.    Such a f'd up mindset that is pushed on people....

This. 

Too many friends I know who work up north who make double what I do bought houses not much more expensive than ours.... guess what's happened... (yup, they sold, are renting at half the size and were lucky to leave with a little bit of equity). 

Plan for the downtimes and live like it's a downtime and when you're in an uptick you look like a friggin king. 

 

[Mark H.]

7 minutes ago, jazzsax said:

Walmart is still walmart. You can still buy reasonably priced goods. Value village has great clothing at affordable prices. The average middle class family, with middle class income, shouldn't have a problem living if they are *INTENTIONAL* about how they manage their finances. 

I would argue this one until I'm blue in the teeth. Sorry. 

As would I.  Another thing - hand me down clothing and yard sales.  

[Piggy 1]

17 minutes ago, Mark H. said:

As would I.  Another thing - hand me down clothing and yard sales.  

But ,but ,isn't Walmart and Value Village one and the same? Or a glorified Dollorama?

[jazzsax]

4 minutes ago, Piggy 1 said:

But ,but ,isn't Walmart and Value Village one and the same? Or a glorified Dollorama?

Doesn't matter does it?  

In the grocery aisle --- canned foods are canned foods. No need to pay $3.98 for the same can at Safeway or whatever other company when you can pay $1.98 at Walmart. 

Lots of decent stuff at Dollarama. 

Or costco, or wherever you look. 

 

[NorthernSkunk]

Always check the dates on products at both wal-mart and giant tiger when shopping.

[do or die]

Some football thread.....

[Wanna-B-Fanboy]

This budgeting tangent is much more enjoyable than taking about the riders. (No sarcasm at all) thanks guys!

 

 

😁

[Mr Dee]

2 hours ago, Brandon said:

They push it down our throats ...    when we bought our last house the bank and the real estate agents were pushing hard for us to spend the maximum amount that we could.   They looked at like we were crazy because I wanted to spend closer to $400 000 rather then $700 000.     Same thing when we bought furniture they kept pushing credit cards and buying max amounts. Same with the cars....    A more naïve or weaker person would easily cave in because all you have to do is say yes and boom you can get something that is out of your real price range. 

The bank was the worst... they kept bringing up that me and my wife had a decent sum of money stashed in our bank account and that we *must* put it towards buying a more expensive house.    They said rarely does anyone have anything in savings and that we could get even more of a house if we used our savings and then made minimum monthly payments on the mortgage.    My response was that we like having money in the bank in case of emergencies and that we want to save for our kids educations... they made it seem like we were crazy because that's what a line of credit is for.    Such a f'd up mindset that is pushed on people....

Although everything you say is true, it’s just weird seeing a post from Brandon on Banks, without an injury report..😄

[jazzsax]

Ok Back to football.

RIDERS SUCK. 

[SpeedFlex27]

5 hours ago, JCon said:

That's what banks do. They're in it for them, not you. 

I've never liked banks.

[SpeedFlex27]

4 hours ago, jazzsax said:

Speed,

People don't need credit because everything is expensive. People can choose what to use and whatnot. Ignoring the obvious socio-economic factors that minimum wage, etc could impact, I'm referring to middle of the road, blue collar / white collar jobs, sub 100K salary (let's say 50K even). 

We run our house with a tight ship. If we need it today it's an emergency, otherwise we buy when it's on sale, or order from amazon to save money. We plan trips around timings that cost less, watch for seat sales, etc. We don't shop high end grocery stores --- we watch the flyers and buy bulk. It's afforded us to literally buy organic for the important stuff (milk, fruits, veggies), and buy quality meats, because we buy half a cow at a time, or we buy in bulk with other friends. 

If you saw our income you'd be shocked how we manage. We run a tight ship, but it's a choice. We still take family vacations, we still do sports, we still do everything else, but what we don't do is $5 coffees every day, $40 ATM withdrawals for random expenses we can't track, etc. 

If we have clutter that we don't need, we sell it on kijiji. If we're doing a reno, we manage it ourselves and hunt down the trades ourselves. 

Yes, I deal with the same taxes you do. Honestly I work with probably 150+ clients (personal and business) and see the difference between those who are intentional, and those who run paycheque to paycheque. Those who run paycheque to paycheque don't think about how they're spending --- I see it on their bank statements. Liquor stores, constant fast food, etc. 

Yes I'm generalising, but my experience has shown that the middle class if they manage their "home" right (barring the rare emergency) can save, spend less, still live a good life, and retire reasonably comfortably. 

Walmart is still walmart. You can still buy reasonably priced goods. Value village has great clothing at affordable prices. The average middle class family, with middle class income, shouldn't have a problem living if they are *INTENTIONAL* about how they manage their finances. 

I would argue this one until I'm blue in the teeth. Sorry. 

 

I think it's great how you manage your money so I'm not criticizing. I have a friend who just turned 60. He has an office cleaning business & was doing quite well here in Calgary  with a number of permanent clients. Everything was going great for him & his wife. He was making good money, hired a number of employees to service his accounts until the downturn in 2013.  As the downturn in the oil patch worsened & companies closed their doors or cancelled their contracts he began having financial problems. He had to lay off his entire staff. But he also had to pay his bills relating to his business. Now he only has a couple of clients that he & his wife service.

He told me a couple of years ago that he would retire in debt & that he probably will be in debt from his business for the rest of his life. He said he was okay with that but it scared me into paying off my personal debts as I didn't want to be retired on a fixed income & still paying off my debt.  It motivated me to do it now & not later.

[jazzsax]

28 minutes ago, SpeedFlex27 said:

I think it's great how you manage your money so I'm not criticizing. I have a friend who just turned 60. He has an office cleaning business & was doing quite well here in Calgary  with a number of permanent clients. Everything was going great for him & his wife. He was making good money, hired a number of employees to service his accounts until the downturn in 2013.  As the downturn in the oil patch worsened & companies closed their doors or cancelled their contracts he began having financial problems. He had to lay off his entire staff. But he also had to pay his bills relating to his business. Now he only has a couple of clients that he & his wife service.

He told me a couple of years ago that he would retire in debt & that he probably will be in debt from his business for the rest of his life. He said he was okay with that but it scared me into paying off my personal debts as I didn't want to be retired on a fixed income & still paying off my debt.  It motivated me to do it now & not later.

Yep, same here. We have plans to retire on our own terms, not the banks. The downturn sucks, but those of us who braced and prepped for it are coming out stronger. 

[SpeedFlex27]

1 hour ago, jazzsax said:

Yep, same here. We have plans to retire on our own terms, not the banks. The downturn sucks, but those of us who braced and prepped for it are coming out stronger. 

I sold photocopiers in the 80's before we moved to Calgary.. I had a sales manager who was brilliant at his job. He could convince just about everyone they needed a new copier. If I had a tough close I'd ask for him to come in & 9 times out of 10 he'd close the deal. But he spent as much as he made. He drove a new Mercedes. He had a brand new house. His suits were like $500 (1984). Shoes always shined. He dressed for success & he was a success. His attitude was buy everything on credit. I asked him what would he do if he lost his job? He smiled & said,  "Just sell."  I looked him up on facebook & from what I could see he went into business for himself &  I think he's a millionaire.

[JCon]

8 hours ago, SpeedFlex27 said:

I sold photocopiers in the 80's before we moved to Calgary.. I had a sales manager who was brilliant at his job. He could convince just about everyone they needed a new copier. If I had a tough close I'd ask for him to come in & 9 times out of 10 he'd close the deal. But he spent as much as he made. He drove a new Mercedes. He had a brand new house. His suits were like $500 (1984). Shoes always shined. He dressed for success & he was a success. His attitude was buy everything on credit. I asked him what would he do if he lost his job? He smiled & said,  "Just sell."  I looked him up on facebook & from what I could see he went into business for himself &  I think he's a millionaire.

Coffee's for Closers. 

 

[Wanna-B-Fanboy]

9 hours ago, SpeedFlex27 said:

I sold photocopiers in the 80's before we moved to Calgary.. I had a sales manager who was brilliant at his job. He could convince just about everyone they needed a new copier. If I had a tough close I'd ask for him to come in & 9 times out of 10 he'd close the deal. But he spent as much as he made. He drove a new Mercedes. He had a brand new house. His suits were like $500 (1984). Shoes always shined. He dressed for success & he was a success. His attitude was buy everything on credit. I asked him what would he do if he lost his job? He smiled & said,  "Just sell."  I looked him up on facebook & from what I could see he went into business for himself &  I think he's a millionaire.

 

1 hour ago, JCon said:

Coffee's for Closers. 

 

 

[Stickem]

10 hours ago, SpeedFlex27 said:

 His attitude was buy everything on credit. I asked him what would he do if he lost his job? He smiled & said,  "Just sell."  I looked him up on facebook & from what I could see he went into business for himself &  I think he's a millionaire.

Unfortunately most people are not born star sales people...I happen to think a 'small' amount of credit is a good thing and it's a smart thing to establish for emergencies , but once out of control disaster awaits...I imagine a lot of people who are deep into credit are squirming a bit today after the Bank Of Canada announced the increase in interest rates yesterday....with a few more slated...……….......................................Anyhoo….like Do or Dies says....this ain't football

[jazzsax]

All of the above. There's people who can sell ice to Eskimos... and people who can't.

I'm sure the Eskimos would like some ice right now to help their playoff chances...

[Mark H.]

4 hours ago, jazzsax said:

All of the above. There's people who can sell ice to Eskimos... and people who can't.

I'm sure the Eskimos would like some ice right now to help their playoff chances...

They already got it in their snap count - according to live mic games. 

[SpeedFlex27]

12 hours ago, Stickem said:

Unfortunately most people are not born star sales people...I happen to think a 'small' amount of credit is a good thing and it's a smart thing to establish for emergencies , but once out of control disaster awaits...I imagine a lot of people who are deep into credit are squirming a bit today after the Bank Of Canada announced the increase in interest rates yesterday....with a few more slated...……….......................................Anyhoo….like Do or Dies says....this ain't football

Who wants to talk about the Riders? 

[Floyd]

1 hour ago, SpeedFlex27 said:

Who wants to talk about the Riders?