Hmmm those are always a little more tricky to work although very doable. But keep an eye out for the convenience checks that are fixed for life....those are the gems! I've got 35K spread across 3 credit cards that have a combined fixed for life interest rate of just under 4%. Thats a dirt cheap loan, I chose to invest in the market and have done quite well, but depending on a persons risk tolerance I'm sure people can find a way to make more than the cost of this type of loan...... Heck, the wifey opened a credit card with a 25K line that offered 0% for 16 months on cash advances. We transferred our entire HELOC on our new mortgage to this card so saving 16 months worth of interest on 25K thats a nice chunk of change......so basically there are plenty of ways to wield credit through the credit cards if you plan carefully. Credit card companies get such a bum wrap! They're gods gift to the financially responsible!
I agree with your paragraphs. There is a great book on being your own bank. The Arthritis Foundation (begun in Tucson 60 years ago) local annual auction and gala was last Saturday. We noticed that the event, ordinarily @ 150K, was just over 72,000 this year. A couple of noticable trends: sponsors had to cut donations in half as a rule and we sold 20 less tables (12 seats @ 150 per seat) this year. The only couple of auction items that still plugged away and got good bidding were; race car drivng training; riding the police helicopter (where they guaranteed at least two good crimes in progress) and car dealer hideaway vacations (Mexican riviera and Colorado ski lodge). the Charles Schwabb item (golf for four at any major venue (bidder's choice) including SW airlines transportation went for about 1,500 bucks. This is usually in the 5k range). It was a very tough night and people were very kind to show and celebrate the 60TH. Kids camp usually has 40 to 50 scholarships @500 a pop. An additional camp was started last year. We will have to beat the bushes for quite a while to fill both camps (We will, too). Personal wealth is taking a hit and there is a lot of credit deferring going on as I see and hear about it. Over the last 60 years, this is the worst climate I have seen for families. I was born in '33 and by the time I started schooling, there were a lot of issues out there; the WWII changed it all the hard way. College in '51 was a no bullsh*t experience; getting prepared was a real drill for most. OT; making the green now is priceless because of the extraordinary opportunity.
Jack, I was born in '45. In my day, we didn't go to summer kid camps, we went year-round to reform school. One thing hasn't changed: jail is still free.