How do you afford everything?

[LewisD]

I can afford this stuff because I basically have my money work for me...I invest, save, and spend wisely.

-I avoid credit cards alltogether....it is simply bad debt. If you do have debt, I would recommend that you pay off your credit card with the highest interest rate first, then move on to paying off the other cards...if you are routinely making payments, a cc company is more likely to lower your rate if you ask.

-instead of getting a conventional savings account that gives you only an average .75% interest rate, get a money market account from a brokerage that has at least a 5% interest rate. I actually have an account dedicated solely to collectibles/entertainment. The more you save each month/year, the bigger the return you will get.

-I suggest investing in stocks and bonds. You should first study about investing before jumping in...if that is kind of intimidating you can always invest in mutual funds...check out www.morningstar.com for reviews. If you are young and have some money to spare(atleast $5000), I reccomend U.S. Global Investors Global Resources (PSPFX). It is high risk, so it is something I would only suggest to young people who have a long way to go until retirement. But this fund has brought me an average return of 21% since January 2006, giving me a profit of $1050.

-I keep my collecing focused...i used to focus on props, but now I only collect PFs and Cinemaquettes.

If you really want to learn how to turn around your finances, I suggest you read the book "Rich Dad, Poor Dad"...

 

[Darth Loki]

I can afford this stuff because I basically have my money work for me...I invest, save, and spend wisely.

-I avoid credit cards alltogether....it is simply bad debt. If you do have debt, I would recommend that you pay off your credit card with the highest interest rate first, then move on to paying off the other cards...if you are routinely making payments, a cc company is more likely to lower your rate if you ask.

-instead of getting a conventional savings account that gives you only an average .75% interest rate, get a money market account from a brokerage that has at least a 5% interest rate. I actually have an account dedicated solely to collectibles/entertainment. The more you save each month/year, the bigger the return you will get.

-I suggest investing in stocks and bonds. You should first study about investing before jumping in...if that is kind of intimidating you can always invest in mutual funds...check out www.morningstar.com for reviews. If you are young and have some money to spare(atleast $5000), I reccomend U.S. Global Investors Global Resources (PSPFX). It is high risk, so it is something I would only suggest to young people who have a long way to go until retirement. But this fund has brought me an average return of 21% since January 2006, giving me a profit of $1050.

-I keep my collecing focused...i used to focus on props, but now I only collect PFs and Cinemaquettes.

If you really want to learn how to turn around your finances, I suggest you read the book "Rich Dad, Poor Dad"...

I'm only 26, and I know there are plenty here even younger, but it's hard to be in this seriously if you don't have the dough. I have a fairly good paying job, but it's not great. I have investments (lost it's a$$ today ), and I've even read that book. It makes a lot of sense, but you still need money to make money. A lot of us here don't have an extra $5000 laying around to invest.

 

[LOTRFan]

I am on my third, actually! When the 0% interest rate eventually goes up, I transfer it over to a new one. As long as the 0% offers keep coming I will be in good shape. It's nice when you can get one that lasts a year before increasing.

I have done that too in the past, I still get about 5-10 offers a week for them.

 

[LOTRFan]

If you really want to learn how to turn around your finances, I suggest you read the book "Rich Dad, Poor Dad"...

Absolutely, great read, it changed my outlook forever!

 

[feedme]

I'm running out of banks to rob.
I have a really healthy savings account and it allows me to spend enough on what I want..credit cards are only a problem if ya can't handle them..pay them off in full each month and your set to go.
Only bad thing is working all these hours is slowly killing me:emperor

 

[FlyAndFight]

The only problem with constantly transfering over CC debt from one card to another and closing the previous account is that your credit rating will suffer. Part of what makes up your credit score is the amount of time that you've had the CC(s) opened. So constantly opening new ones will keep the score lower than what it really could be.

If you don't plan on making any large financed purchases like a home or car, then it's not a big deal, but if you do, it's something to think about.

Wow, I just hit the 1,111 post mark! Do I get a cookie?

 

[The Josh]

I have 2 CC. Every month I make a pretty healthy payment to the one with the higer balance since that's the one I use for my SS orders. The other I use for some of my GG items .

 

[creecher]

Get rid of the credit cards and use a debit card. No interest, no having to scrounge. I just have one for on line purchases, and keep the minumum amount in it, to keep any possible security problems at a low level of risk. Just pay into it what I need to cover purchases.

 

[darthviper107]

For me, If I've got the money at that time, then I order it if I want it, but if I don't have the money at the time of the preorder, then I dont' buy it. And what's funny is that I'm actually in a better off position if I don't buy a certain figure or whatever, like if I had kept the Han Solo 12" preorder I would have much less money now to do stuff, and I wouldn't be able to get 3ds Max 9 when it comes out in October.

I have both a credit card and a debit card, but I mostly use the debit card and I'm just using the credit card to get some good credit, but I always pay it off. But unluckily I've got a bad job right now which is going to end in a couple of weeks when I go off to college and then I won't have any job, although I do think I have $500 spending money for the first semester. What I really hope is that I can find a car for less than $1,000 because I've got $5,000 saved for a car and if I can get a cheap car then that means a lot of extra money I could use.

 

[creecher]

I'm with you there Viper. I don't pre-order unless I have the money on hand. You don't need the hassle of juggling finances later. In regards to your car. If you get one for less, you'll need the rest to fix something on it. I would keep that extra for unseen circumstances. You can expect hefty maintenance on a cheap car.

 

[MisterToyNYC]

Im still at collage so I dont work,So its harder for me.

Collage?! With spelling like that you'll be in COLLEGE forever!

How do I afford everything? Ever see the movie "The Sting"? Does the term "grifter" mean anything? 'Nuff said.

E

 

[Polystoner]

I don't buy EVERYTHING. Had to decide between the Star Wars PFs and the 12" inchers. Decided that a bigger collection of 12" inchers was probably better for my tastes so I dropped the PF line. Now that I will be living in an even smaller home, I have no regrets.

I also took a second job to support this habit. I write a bi-weekly travel blog for a "leisure company" that is trying to sell timeshares. I usually get $100-$200 a month for this which is barely enough to keep up with the SW 12" inchers and the occasional quarterly purchase of a Gentle Giant bust, CW Moore statue, or something.

Much happier now that I have this writing gig and have a separate checking account only for my hobby purchases. Very easy to tell now if I have money to buy something or not. If the money is not in THAT account, I can't buy it.

Oh yeah, I wanted to add that sometimes I have to sell stuff in order to afford something else that I want now. Keeps the collection lean and only stocked with stuff that I really, really want. Although it is heartbreaking to sell an old favorite.

 

[Vader AL]

i pay for everything with my debit card so i can't buy anything i can't afford at the time. i also set a limit per month on what i will spend on SS. I had to cancel leia because of all the stuff coming out(iron man, doom archive set, Vader 12") but after seeing pics i sent the "i want Leia" email and she'll be here tuesday so i spent more than i promised myself i would per month on SS stuff but if i couldn't afford it i wouldn't have bought her....i just have to tie my hands next month....ok, well iron man will be here so i'll tie my hands in october to make up for spending more than i told myself i would. we all know things can spin out of control with all the things we want.

 

[Captain Faramir]

Collage?! With spelling like that you'll be in COLLEGE forever!

OOPS!!! Dude well even I can slip up a lot. I swear I'm not dumb, lol--I've got a 4.0 so I promise I'm not stupid! Oh well, ha ha ha! Seriously though, scholarships are great, and also planning WAY in advance how much you can spend on figures so that you can budget wisely. That's the key.

 

[creecher]

Nothing up my sleeve

That spell checker never works.

Good advice Captain.

 

[LewisD]

I'm only 26, and I know there are plenty here even younger, but it's hard to be in this seriously if you don't have the dough. I have a fairly good paying job, but it's not great. I have investments (lost it's a$$ today ), and I've even read that book. It makes a lot of sense, but you still need money to make money. A lot of us here don't have an extra $5000 laying around to invest.

You really don't need alot of money to invest...the mutual fund I mentioned is geared more towards those who have cash that they can risk...but there are alot of funds that have low minimum investments ~$200-$500 and are far less risky. Many don't quite understand compound interest...if you are young and make a habit of putting away $100 each month in an investment vehicle, by the time you are at retirement age you'll be amazed at just how much money has grown in your account.

Money is abundant in this world...it just takes time to educate yourself on how to make it. And with the internet, all that education can be found for free.

 

[mlarsen]

A few months ago I started to donate plasma.
For an extra $200 in my pocket a month, it's worth it! Every little bit helps.

 

[pixletwin]

A few months ago I started to donate plasma.
For an extra $200 in my pocket a month, it's worth it! Every little bit helps.

I too have considered this route. With 3 Jedi in September I may really seriously do it!

 

[Agent0028]

A few months ago I started to donate plasma.
For an extra $200 in my pocket a month, it's worth it! Every little bit helps.

Seriously? They pay for you to donate plasma?
Hmm...but aw jeez I hate needles...

 

[Vader AL]

I can afford this stuff because I basically have my money work for me...I invest, save, and spend wisely.

-instead of getting a conventional savings account that gives you only an average .75% interest rate, get a money market account from a brokerage that has at least a 5% interest rate. I actually have an account dedicated solely to collectibles/entertainment. The more you save each month/year, the bigger the return you will get.

Where are you getting a money market that pays 5%?

-I suggest investing in stocks and bonds. You should first study about investing before jumping in...if that is kind of intimidating you can always invest in mutual funds...check out www.morningstar.com for reviews. If you are young and have some money to spare(atleast $5000), I reccomend U.S. Global Investors Global Resources (PSPFX). It is high risk, so it is something I would only suggest to young people who have a long way to go until retirement. But this fund has brought me an average return of 21% since January 2006, giving me a profit of $1050.

And with the unstable international market you could lose quite a bit on that one real quick.

If you really want to learn how to turn around your finances, I suggest you read the book "Rich Dad, Poor Dad"...

Millionaire next door is a good one too.