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Old 7 July 2008, 07:00 AM   #74
BigHat
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Join Date: Sep 2007
Real Name: Matt
Location: Arlington, VA
Watch: Lange One MP
Posts: 4,043
Quote:
Originally Posted by sfrolex View Post
I'm not so sure about that. I mean, it seems that way, but, I think that these incentives make it seem "ok" to carry a debt and make humans more apt to spent money than if they pulled out cash and paid 100% at the time of purchase. I even have hesitations about using a credit card even though I pay it off at the end of each month. The credit industry in America is extraordinarily mature with tremendous powers on the human (American) psyche.
Some of the innate or learned behavior that is at odds with the basic financial facts. Of course, no one is right or wrong when you assess the subject with all the baggage you bring to a decision.
Personally, even when I have the cash, I put it into an account and set up auto payments against it. So I paid cash in my mind and I'm "earning" the time value of money instead of giving it away.
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