An idea I would like some feedback on!

[Sandiagon]

[quote=socrattt]The last few weeks I have been pondering an idea of using my credit cards for everyday items and my utilizing cash to buy commodities. I plan on making my minimum payments as my interest rates are pretty low due to my high credit score. I do know that this may impact my credit score, but to be completely honest I believe there will be some drastic changes to the credit system within the next few years. Assuming that tomorrow’s debt will be worth much less wouldn’t this be a wise decision to make? I also believe gold and silver will continue its upward movement as we move into a hyper inflationary period. I would love to hear some feedback on my thoughts.[/quote]

Who advised you to invest in commodity market (I am assuming futures market) by borrowing money? My sincere advice is never invest in futures market with borrowed money. Never invest more than 20% of your surplus money. You must have clear exit plans. I will provide one example. You are expecting Oil will reach $100.00 in July 2009. You bought July 2009 oil futures contract for $50.00. Maximum loss you can bear $10.00. It means you can bear $10,000.00 loss. Each contract is 1000 barrels. It means you must sell your contract when it touches $40.00. If you have a discipline to stick to your exit plan, futures market may good for you.

[HLS]

The best advice that I can give is get into a 4.50% 30 YR fixed mortgage, IF you qualify.

Have a low minimum payment, and hoard CASH until you have a 12-24 month cushion of living expenses.
I do not encourage 15 YR mortgages for most people.

Having a low minimum payment with the option of making a higher payment if you want to, is a better scenario than being obligated to a higher monthly payment.

4.50% are available again at a reasonable cost!

I see days ahead of 6%-10% interest on CD’s…

[HLS]

The best advice that I can give is get into a 4.50% 30 YR fixed mortgage, IF you qualify.

Have a low minimum payment, and hoard CASH until you have a 12-24 month cushion of living expenses.
I do not encourage 15 YR mortgages for most people.

Having a low minimum payment with the option of making a higher payment if you want to, is a better scenario than being obligated to a higher monthly payment.

4.50% are available again at a reasonable cost!

I see days ahead of 6%-10% interest on CD’s…

[HLS]

The best advice that I can give is get into a 4.50% 30 YR fixed mortgage, IF you qualify.

Have a low minimum payment, and hoard CASH until you have a 12-24 month cushion of living expenses.
I do not encourage 15 YR mortgages for most people.

Having a low minimum payment with the option of making a higher payment if you want to, is a better scenario than being obligated to a higher monthly payment.

4.50% are available again at a reasonable cost!

I see days ahead of 6%-10% interest on CD’s…

[HLS]

The best advice that I can give is get into a 4.50% 30 YR fixed mortgage, IF you qualify.

Have a low minimum payment, and hoard CASH until you have a 12-24 month cushion of living expenses.
I do not encourage 15 YR mortgages for most people.

Having a low minimum payment with the option of making a higher payment if you want to, is a better scenario than being obligated to a higher monthly payment.

4.50% are available again at a reasonable cost!

I see days ahead of 6%-10% interest on CD’s…

[HLS]

The best advice that I can give is get into a 4.50% 30 YR fixed mortgage, IF you qualify.

Have a low minimum payment, and hoard CASH until you have a 12-24 month cushion of living expenses.
I do not encourage 15 YR mortgages for most people.

Having a low minimum payment with the option of making a higher payment if you want to, is a better scenario than being obligated to a higher monthly payment.

4.50% are available again at a reasonable cost!

I see days ahead of 6%-10% interest on CD’s…

[Author]

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