The perfect MP3 player

Dave Smith DavidSmith at byu.net
Mon Sep 19 11:01:53 MDT 2005


> I agree, I mentioned both of those problems.
> 1) get a fixed rate line of credit. (They exist I have one.)
> 2) Use a budget and stick to it.
>
> Works for us, we've saved a lot more money than we could have by staying
> with a mortgage.  Banks love it when people use the system to the banks
> advantage--True that they love these types of plans because most people
> don't take advantage of them they way they could.  Banks don't love it
> when people do things smartly with their money but, as you point out,
> most people don't.

This begs some questions:

How long's the term of fixed interest?

What's the rate? If it's above 4.5%, it's no better than a 15-year fixed
rate mortgage.

Is there a balloon payment required at the end?

Is the rate fixed for a term, and adjustable after that?

Are there fees associated with paying "early"?

Is there a fee to set it up in the first place?


By the way, congratulations on being disciplined enough to stick to this
plan. It takes a level of dedication that most do not possess.

> The moral is, buying an mp3 player is much to difficult for this list to
> decide :D

Absolutely. The only reason I'm still subscribed. :)

--Dave



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