How would you handle this?

[bluehorseshoe]

Why do you even bother to do this in the first place? Seems like a pain in the A, and you aren't making any money off it.

 

Looks like he'd be making $50 on this particular deal?

 

I loaned a forumite $1,000 based on collateral he provided.

I sent him $950, and he was supposed to pay me back $1,000 plus $40 for shipping

 

Well gee you cracked that part of the case, Inspector Clouseau, it just doesn't seem like $50 a shot is worth it to have to put up with deadbeats that to screw around with the terms after the fact and that nonsense, but if that is what your time is worth, it is what it is.

[shadroch]

take half of that five figure checking account and put it into an Amex High yield savings account that pays 0.8% interest ($66.6 a month on 10,000) https://personalsavings.americanexpress.com/index.html

 

 

My problem is that my casino line of credit is tied directly to the ninety day average of that checking account. But thanks for the tip. I will look into that.

[DR.X]

take half of that five figure checking account and put it into an Amex High yield savings account that pays 0.8% interest ($66.6 a month on 10,000) https://personalsavings.americanexpress.com/index.html

 

 

My problem is that my casino line of credit is tied directly to the ninety day average of that checking account. But thanks for the tip. I will look into that.

 

I remember the good old days when I was buying floating rate Australian CD's at 14% and Chrysler Corporate bonds that got derated paying 17%.

[*Bronze age fan*]

take half of that five figure checking account and put it into an Amex High yield savings account that pays 0.8% interest ($66.6 a month on 10,000) https://personalsavings.americanexpress.com/index.html, personally most of my spare cash is in Vanguard.

 

 

That's 80 bucks in one year.

[shadroch]

take half of that five figure checking account and put it into an Amex High yield savings account that pays 0.8% interest ($66.6 a month on 10,000) https://personalsavings.americanexpress.com/index.html, personally most of my spare cash is in Vanguard.

 

I think your math is off. Wouldn't .08 on $10,000 be $80 a year, or $6.66 a month, give or take a nickle or two.

[Hulksdaddy1]

Why do you even bother to do this in the first place? Seems like a pain in the A, and you aren't making any money off it.

 

Looks like he'd be making $50 on this particular deal?

 

I loaned a forumite $1,000 based on collateral he provided.

I sent him $950, and he was supposed to pay me back $1,000 plus $40 for shipping

 

Well gee you cracked that part of the case, Inspector Clouseau, it just doesn't seem like $50 a shot is worth it to have to put up with deadbeats that to screw around with the terms after the fact and that nonsense, but if that is what your time is worth, it is what it is.

 

It was easy. One day, you may be able to as well.

 

 

[bluehorseshoe]

The terms were set in the beginning of the deal.Either borrower abides by it,or he loses the books.I personally wouldn't loan a stranger money though.

 

I'm well protected. If he fails to pay me back, I can sell the books. As an aside, I got my bank statement today, and my five figure checking account got a whopping sixty five cents in interest for the month.

 

The fact that you have a five figure balance in a checking account explains why this makes sense to you do these loans; just so you know, anything you make sort of covers what you are passing up by not having your money in the right financial assets.

[shadroch]

take half of that five figure checking account and put it into an Amex High yield savings account that pays 0.8% interest ($66.6 a month on 10,000) https://personalsavings.americanexpress.com/index.html

 

 

My problem is that my casino line of credit is tied directly to the ninety day average of that checking account. But thanks for the tip. I will look into that.

 

I remember the good old days when I was buying floating rate Australian CD's at 14% and Chrysler Corporate bonds that got derated paying 17%.

 

In 1979 and 1980, I was borrowing $3,000 a year interest free via student loans and buying six month CDs at 15% or more. I should have bought twenty years bonds, but who knew.

[jaybuck43]

Yup im an insufficiently_thoughtful_person I did 8% not 0.8% sorry about that

[shadroch]

The terms were set in the beginning of the deal.Either borrower abides by it,or he loses the books.I personally wouldn't loan a stranger money though.

 

I'm well protected. If he fails to pay me back, I can sell the books. As an aside, I got my bank statement today, and my five figure checking account got a whopping sixty five cents in interest for the month.

 

The fact that you have a five figure balance in a checking account explains why this makes sense to you do these loans; just so you know, anything you make sort of covers what you are passing up by not having your money in the right financial assets.

 

 

Oh, please edujimacate me. What would the right investments be. Please share your wisdom with us.

[DR.X]

take half of that five figure checking account and put it into an Amex High yield savings account that pays 0.8% interest ($66.6 a month on 10,000) https://personalsavings.americanexpress.com/index.html

 

 

My problem is that my casino line of credit is tied directly to the ninety day average of that checking account. But thanks for the tip. I will look into that.

 

I remember the good old days when I was buying floating rate Australian CD's at 14% and Chrysler Corporate bonds that got derated paying 17%.

 

In 1979 and 1980, I was borrowing $3,000 a year interest free via student loans and buying six month CDs at 15% or more. I should have bought twenty years bonds, but who knew.

 

I think the banks really got stung here though. CD rates were around 14%. I think a lot of people locked in those rates for longer terms just before they started to drop when Regan took office. I don't think they'll ever make a mistake like that again.

[shadroch]

Yup im an insufficiently_thoughtful_person I did 8% not 0.8% sorry about that

 

 

It sounded good. Too good. Math is hard.

[Hulksdaddy1]

The terms were set in the beginning of the deal.Either borrower abides by it,or he loses the books.I personally wouldn't loan a stranger money though.

 

I'm well protected. If he fails to pay me back, I can sell the books. As an aside, I got my bank statement today, and my five figure checking account got a whopping sixty five cents in interest for the month.

 

The fact that you have a five figure balance in a checking account explains why this makes sense to you do these loans; just so you know, anything you make sort of covers what you are passing up by not having your money in the right financial assets.

 

 

Oh, please edujimacate me. What would the right investments be. Please share your wisdom with us.

 

[shadroch]

take half of that five figure checking account and put it into an Amex High yield savings account that pays 0.8% interest ($66.6 a month on 10,000) https://personalsavings.americanexpress.com/index.html

 

 

My problem is that my casino line of credit is tied directly to the ninety day average of that checking account. But thanks for the tip. I will look into that.

 

I remember the good old days when I was buying floating rate Australian CD's at 14% and Chrysler Corporate bonds that got derated paying 17%.

 

In 1979 and 1980, I was borrowing $3,000 a year interest free via student loans and buying six month CDs at 15% or more. I should have bought twenty years bonds, but who knew.

 

I think the banks really got stung here though. CD rates were around 14%. I think a lot of people locked in those rates for longer terms just before they started to drop when Regan took office. I don't think they'll ever make a mistake like that again.

 

It actually wasn't until he was in office 22 months that rates went below what they were when he took over. They were 13 and change in Jan 81, rose to 16 and change and then went under 13 not quite two years into office.

[jaybuck43]

that's why I do the market and not CDs et al. I can break down a 10k like its my job but simple math. Not a chance. O and if your ever in jersey let me know I'll take ya down to my places in ac

[*Bronze age fan*]

The terms were set in the beginning of the deal.Either borrower abides by it,or he loses the books.I personally wouldn't loan a stranger money though.

 

I'm well protected. If he fails to pay me back, I can sell the books. As an aside, I got my bank statement today, and my five figure checking account got a whopping sixty five cents in interest for the month.

 

The fact that you have a five figure balance in a checking account explains why this makes sense to you do these loans; just so you know, anything you make sort of covers what you are passing up by not having your money in the right financial assets.

 

 

Oh, please edujimacate me. What would the right investments be. Please share your wisdom with us.

 

 

I would also like to hear this golden advice. I just rolled over two old 401K plans I had into a roll over IRA. It's giving me a headache thinking about what to buy. I am buying dumb stuff like Facebook and Twitter stock and hoping for a pop. I bet that will end like this.......

[DR.X]

take half of that five figure checking account and put it into an Amex High yield savings account that pays 0.8% interest ($66.6 a month on 10,000) https://personalsavings.americanexpress.com/index.html

 

 

My problem is that my casino line of credit is tied directly to the ninety day average of that checking account. But thanks for the tip. I will look into that.

 

I remember the good old days when I was buying floating rate Australian CD's at 14% and Chrysler Corporate bonds that got derated paying 17%.

 

In 1979 and 1980, I was borrowing $3,000 a year interest free via student loans and buying six month CDs at 15% or more. I should have bought twenty years bonds, but who knew.

 

I think the banks really got stung here though. CD rates were around 14%. I think a lot of people locked in those rates for longer terms just before they started to drop when Regan took office. I don't think they'll ever make a mistake like that again.

 

It actually wasn't until he was in office 22 months that rates went below what they were when he took over. They were 13 and change in Jan 81, rose to 16 and change and then went under 13 not quite two years into office.

 

well, my memory is a bit sketchy, but I do remember some of it.

[shadroch]

that's why I do the market and not CDs et al. I can break down a 10k like its my job but simple math. Not a chance. O and if your ever in jersey let me know I'll take ya down to my places in ac

 

 

I 'm a blackjack player. Not much for me in AC, but I appreciate the offer.

[DR.X]

I would also like to hear this golden advice. I just rolled over two old 401K plans I had into a roll over IRA. It's giving me a headache thinking about what to buy. I am buying dumb stuff like Facebook and Twitter stock and hoping for a pop. I bet that will end like this.......

 

Good luck on those. I'm a little leary right now about adding any new positions, but I am adding to existing ones. Be careful here, this market is due for a crack, but that's just my opinion, and probably worthless.

[shadroch]

take half of that five figure checking account and put it into an Amex High yield savings account that pays 0.8% interest ($66.6 a month on 10,000) https://personalsavings.americanexpress.com/index.html

 

 

My problem is that my casino line of credit is tied directly to the ninety day average of that checking account. But thanks for the tip. I will look into that.

 

I remember the good old days when I was buying floating rate Australian CD's at 14% and Chrysler Corporate bonds that got derated paying 17%.

 

In 1979 and 1980, I was borrowing $3,000 a year interest free via student loans and buying six month CDs at 15% or more. I should have bought twenty years bonds, but who knew.

 

 

 

 

I think the banks really got stung here though. CD rates were around 14%. I think a lot of people locked in those rates for longer terms just before they started to drop when Regan took office. I don't think they'll ever make a mistake like that again.

 

It actually wasn't until he was in office 22 months that rates went below what they were when he took over. They were 13 and change in Jan 81, rose to 16 and change and then went under 13 not quite two years into office.

 

well, my memory is a bit sketchy, but I do remember some of it.

 

Looked it up myself. My Aunt had the foresight to look up those rates with twenty years Treasury Notes.