What card would you arrange financing to buy?

[rats60]

Selling to buy is good in theory, but doesn't always work out. I have borrowed to buy a card. I was bidding and the card went higher than I thought. I decided to place one more bid knowing I would have to borrow to pay and won. My only regrets in this hobby are the things I have not bought, or at least tried harder to buy.

What I don't understand is people borrowing to buy a car (an asset that decreases) or pay for college. Those are things that I would never do. To borrow to buy an asset that will increase in value, under the right circumstances, absolutely.

[JustinD]

I admit to using paypal's zero interest for whatever few months a few times so I can use their free plan to use my money for interest bearing wiser reasons. I have never paid paid them one red cent in interest on it though. In my mind that's not really financing it.

As for financing with a loan or even using a charge card long enough for interest, it's a no.

[Wanaselja]

Originally Posted by rats60

Selling to buy is good in theory, but doesn't always work out. I have borrowed to buy a card. I was bidding and the card went higher than I thought. I decided to place one more bid knowing I would have to borrow to pay and won. My only regrets in this hobby are the things I have not bought, or at least tried harder to buy.

What I don't understand is people borrowing to buy a car (an asset that decreases) or pay for college. Those are things that I would never do. To borrow to buy an asset that will increase in value, under the right circumstances, absolutely.

How does one pay for college without borrowing?

[riggs336]

I've sold stock in order to pay for a high dollar card and never regretted it.

[Republicaninmass]

Originally Posted by riggs336

I've sold stock in order to pay for a high dollar card and never regretted it.

I did as well, and over the last 2 or 3 years have done the opposite. Selling cards, and buying stocks

[jingram058]

Several times, on this net54 forum, I was allowed to use the layaway plan to buy cards I simply could not afford to buy all at once. Was that a kind gesture that they did not have to do by the sellers? Absolutely! And because of their kindness I didn't have to go into debt to get cards I really wanted, that have become irreplaceable in my modest collection. Not the same at all as using credit or taking out a loan, and my wife is totally okay with it.

[raulus]

Originally Posted by Wanaselja

How does one pay for college without borrowing?

Four strategies that worked for me, my wife, and for our kids (so far - 2nd one is a freshman now):

1a) Attend a school with relatively affordable tuition. My kids and I both went to a private school, but the tuition was/is not a lot. I paid $1k per semester. My kids are paying $3k per semester. Inflation continues to raise the rates, but compared to places that charge $30k per semester, it's tough to beat the value. That may mean going to a state school or spending a few years at community college first. If all else fails, there's the military and the GI bill, which is how my father did it, after serving in Vietnam for 2 tours as a Marine Scout Sniper.

1b) Study hard and get good grades, and apply for academic scholarships. I got a full-tuition scholarship after my first semester, but had to continue to deliver to keep it. My son just received a full-tuition scholarship as well. My daughter, who just graduated, had a 25% tuition scholarship. Apply yourself, and you will find scholarships are available. At the same time, my wife didn't have one, so this one isn't as important as 1a, but it sure doesn't hurt.

2) Work while in school, including during summer breaks. Especially with current wages, most kids can make good money. My freshman son was making $20 per hour over the summer working in a box factory, 8 hours per day, enough to pay for his freshman year. It was hard work and required him to get up every day at 5am to get to the salt mines and put in his time. I made half that working jobs on campus, but every bit helps.

3) Live frugally. It's called a starving student for a reason. You want to drive a pimped out ride, live in fancy digs, eat at hipster restaurants and travel like a Kardashian on a private jet? When you're making 7 figures, sure. But until then, you're slumming it with a used Corolla, eating ramen and rice, and riding at the back of the plane with inconvenient connections at odd hours.

It can definitely be done. I've done it, and so have many others. But it requires effort, sacrifices and compromises, which seem to be in short supply these days.

[jayshum]

Originally Posted by raulus

Four strategies that worked for me, my wife, and for our kids (so far - 2nd one is a freshman now):

1a) Attend a school with relatively affordable tuition. My kids and I both went to a private school, but the tuition was/is not a lot. I paid $1k per semester. My kids are paying $3k per semester. Inflation continues to raise the rates, but compared to places that charge $30k per semester, it's tough to beat the value. That may mean going to a state school or spending a few years at community college first. If all else fails, there's the military and the GI bill, which is how my father did it, after serving in Vietnam for 2 tours as a Marine Scout Sniper.

1b) Study hard and get good grades, and apply for academic scholarships. I got a full-tuition scholarship after my first semester, but had to continue to deliver to keep it. My son just received a full-tuition scholarship as well. My daughter, who just graduated, had a 25% tuition scholarship. Apply yourself, and you will find scholarships are available. At the same time, my wife didn't have one, so this one isn't as important as 1a, but it sure doesn't hurt.

2) Work while in school, including during summer breaks. Especially with current wages, most kids can make good money. My freshman son was making $20 per hour over the summer working in a box factory, 8 hours per day, enough to pay for his freshman year. It was hard work and required him to get up every day at 5am to get to the salt mines and put in his time. I made half that working jobs on campus, but every bit helps.

3) Live frugally. It's called a starving student for a reason. You want to drive a pimped out ride, live in fancy digs, eat at hipster restaurants and travel like a Kardashian on a private jet? When you're making 7 figures, sure. But until then, you're slumming it with a used Corolla, eating ramen and rice, and riding at the back of the plane with inconvenient connections at odd hours.

It can definitely be done. I've done it, and so have many others. But it requires effort, sacrifices and compromises, which seem to be in short supply these days.

Curious what private school has a tuition of $3K per semester. Most public schools are more than that.

[raulus]

Originally Posted by jayshum

Curious what private school has a tuition of $3K per semester. Most public schools are more than that.

Brigham Young University

[brunswickreeves]

If you can't afford to buy something twice, you probably shouldn't buy it.

[jeffmohler]

I've been working on my W530 set for about 15 years. The only card I still need is the Wagner. I'd probably be willing to put it on my credit line....

[robertsmithnocure]

Originally Posted by jeffmohler

I've been working on my W530 set for about 15 years. The only card I still need is the Wagner. I'd probably be willing to put it on my credit line....

Here you go:

https://sports.ha.com/itm/baseball/1...ription-071515

[todeen]

Originally Posted by raulus

Brigham Young University

To those not familiar, BYU is subsidized by church members' monthly donations. Tuition is not subsidized for non-members as far as I know. My wife attended BYU and actually paid her college loan off in 10 years. She also worked during the summers, except the summer she was an intern in DC. I did not attend BYU, but I also don't think I would have been a good fit at any church school.

I attended College of Idaho, private, and the quality of education was worth it. My parents made loan payments for me while I served my mission in Thailand (which cost $10k). I was underwhelmed at academic rigor attending EWU for my second BA. Did not make loan payments while attending EWU. I worked 3-4 part time jobs during the school year (life guard, baker, referee, umpire).

I think my college loans are $60k right now. But I also didn't make payments while getting my MA. And now I'm considering my doctorate. But the profession I'm in is a "more education = more pay" wage ladder. I think it's a racket, but it's the game I chose to play.

Sent from my SM-G9900 using Tapatalk

[raulus]

Originally Posted by todeen

To those not familiar, BYU is subsidized by church members' monthly donations. Tuition is not subsidized for non-members as far as I know.

For non-members, the cost is about double that of members.

At the same time, if memory serves, the relatively few non-members (maybe 1% of the student body) who attend are mostly on the football team, many of whom have scholarships. From my experience, the majority of the remaining non-members come from conservative backgrounds (including foreign countries) who are looking for a US education without the party culture.

When I was at BYU, in rough percentages, the church paid for about 70% of the cost, with alumni donations covering 10%, and 20% from tuition. It's possible that the percentages have moved over the years.

There's no question that this school is not for everyone. I'm not advocating that someone should attend simply because it's a good deal. But there are plenty of public universities where in-state tuition is in the $3k-$6k per semester range. And most community colleges are less. So it's not like there are no good schools that are relatively affordable.

I will also disclose that my son was also accepted to Stanford. They declined to offer him an academic scholarship, and he didn't qualify for need-based aid. Tuition + room/board at Stanford ~$75k per year. He decided not to attend Stanford, primarily because $300k for an undergraduate education seemed like a whole lot of bread, particularly for an 18-year old boy who changes his major every 2 weeks, and therefore has no ability to assess whether his TBD major is even offered at Stanford, or whether that TBD major is a major where Stanford excels.

[Yoda]

Originally Posted by Wanaselja

How does one pay for college without borrowing?

Rich parents.

[Exhibitman]

Originally Posted by Wanaselja

How does one pay for college without borrowing?

In my family no one borrows for college...or grad school. We figure it out. We started saving for my daughter's college when she was born and we never stopped. She is completing a masters at Columbia this year and will graduate debt-free...but only because she is living with relatives in NYC. Undergrad was a state school, and even so, we had to sacrifice a lot of luxuries (and I had to sell a lot of cards) to pay for it. My parents did the same for me--well, not the card bit, but I got a full ride.

Totally worth every dime, IMO.

[Wanaselja]

Originally Posted by Exhibitman

In my family no one borrows for college...or grad school. We figure it out. We started saving for my daughter's college when she was born and we never stopped. She is completing a masters at Columbia this year and will graduate debt-free...but only because she is living with relatives in NYC. Undergrad was a state school, and even so, we had to sacrifice a lot of luxuries (and I had to sell a lot of cards) to pay for it. My parents did the same for me--well, not the card bit, but I got a full ride.

Totally worth every dime, IMO.

I was speaking more about those of us who’s parents could not afford to pay or help with our college and who graduated in debt but also in a position to use that degree to pursue professional endeavors that will allow us to pay for our kids education in 14+ years. Paying for community college through hard work isn’t too difficult. 5 years of architecture school is.

That being said I need a Green Cobb to complete my T206 HOF portrait run. If the right one pops up I’ll buy on credit and pay it off when I pay myself at years end.

[Bobbycee]

I probably wouldn't finance a card, although I would consider doing it for a PSA 2 Demmitt or O'Hara over a few months. But currently, you'd have to open an line of equity to do it.

[bmattioli]

I scrap metal, collect cans and bottles and even metal detect for cash to spend on my hobbies. Would never put any purchases otherwise..

[todeen]

Originally Posted by Exhibitman

In my family no one borrows for college...or grad school. We figure it out. We started saving for my daughter's college when she was born and we never stopped. She is completing a masters at Columbia this year and will graduate debt-free...but only because she is living with relatives in NYC. Undergrad was a state school, and even so, we had to sacrifice a lot of luxuries (and I had to sell a lot of cards) to pay for it. My parents did the same for me--well, not the card bit, but I got a full ride.

Totally worth every dime, IMO.

My dad tried to save for college. He saved $20k each for my sister's and me. I was the only one to go to college. After two years of running start, I entered school as a junior and $20k paid for about one year of tuition at private school. My sister used her cash as a down payment on a house. I don't know what my other sister did with hers.

But my father was blown away by the cost. He graduated in 1970. He talked about paying $250 in 1966 for his first semester, then he joined ROTC. ROTC put him on scholarship after that. He thought I was a fool for going to private school, but looking back on it private school was worth every dime. It opened up a lot of doors for me. I consolidated my debt, $300/month for 30 yrs. It is what it is. I've often wondered if I made the right choice, and I'm know other teachers question whether going to college to become a teacher is a smart ROI.

Here's the paradox. I was making $55k in Walla Walla as a teacher. It's a small rural town. Compared to Spokane, which is 15x larger, Walla Walla had higher housing costs (until COVID), and higher gas prices. I moved to Spokane last year, and now I'm making $25k per year more but my costs remain the same as Walla Walla. You wonder why there's a teacher shortage? This is partially why. Salaries are so different district-to-district regardless of housing and other regular living costs. It's very arbitrary. We never dreamed of buying a house in Walla Walla on my salary. That dream is becoming more of an option now that we're in a big city.

Sent from my SM-G9900 using Tapatalk