Auburn's Outgoing Transfers

[cole256 17,084]

Just now, abw0004 said:

I was just trying to make fun of myself, nothing more.  Don’t read into it too hard.  😆

But you hit an important point, I thought I'd highlight it. There's a difference between learning in the classroom and learning and getting wiser from life experience.

[autigeremt 6,647]

1 hour ago, cole256 said:

That's like saying they shouldn't be taught the Newton's third law because when will they need it. 

I'm not saying give them a full college course but they should absolutely start learning the building blocks of financial literacy. There'sliterally no down side to do it. 

Agreed. It can be a transitional approach with increasing demands (academics) as they grow older. 

[cole256 17,084]

5 minutes ago, autigeremt said:

Agreed. It can be a transitional approach with increasing demands (academics) as they grow older. 

That's the word I couldn't think of for the life of me......transition. Thank you for that.

[Tigerpro2a 5,650]

2 hours ago, W.E.D said:

Hopefully it's none of the Dave Ramsey non-senes

Dave has some good ideas, and some are just as far off base from anything I would ever do. 

[augolf1716 21,218]

42 minutes ago, Tigerpro2a said:

Dave has some good ideas, and some are just as far off base from anything I would ever do. 

Agree

[Hank2020 3,209]

55 minutes ago, Tigerpro2a said:

Dave has some good ideas, and some are just as far off base from anything I would ever do. 

It’s generally a pretty good idea to pay off what you owe.

[abw0004 10,125]

2 hours ago, Tigerpro2a said:

Dave has some good ideas, and some are just as far off base from anything I would ever do. 

The problem with Dave Ramsey is he does not have any series licenses so he is not held accountable by FINRA or the SEC with his advice.  He literally could tell you you are guaranteed to triple your money if you liquidate your 401(k) and invest in Penny stocks and you can’t go after him like you could an investment advisor.

[Tigerpro2a 5,650]

5 hours ago, Hank2020 said:

It’s generally a pretty good idea to pay off what you owe.

Ummm......Yes. I would agree. I like Dave's philosophy on paying off debts. Start with the smallest and pay it off, then apply that money to the next smallest on top of what your were already paying and pay it off...and so on and so on. Only time I would differ is if one of the higher ones has an insane rate.

[Win4AU 4,054]

Dave Ramsey play OT?

[Gowebb11 9,337]

4 hours ago, Win4AU said:

Dave Ramsey play OT?

Yes, because he’s listed as a long snapper. 

[AuburnNTexas 7,154]

18 hours ago, steeleagle said:

TBH, I think it's a waste of time to try to teach them money management in grade school, since they have not really started to be able to be required to earn money or spend it. I do think in HS, and it's never too late in college to make every student(esp. athletes who will get money through NIL or after college), to take practical course in finance, money management, investing, loans, etc), as I think this is when they are mostly on their own, and need to know that financial base to help them with in the real world. 

I bet some colleges definitely do this, as I think this topic has been around a while with so much money out there for the athlete.

I think we are over thinking this. My dad was in the US Navy and during that era the military was not very well paid. Also being in the Navy he was at sea a lot so my mom actually handled the finances. At an early age we learned about budgeting and saving for a rainy day and those lessons lasted for a life time. My parents never paid interest on a credit card they used them sparingly and paid them off every month, they set aside money every month for a new car which they bought about every 8 years. The only interest they paid was on house loans. When you grow up in that environment you have basic credit knowledge that can then be improved with education where you learn when it is ok to borrow and pay interest as an example in building a business but always with the bottom line in sight. 

Even though my parents were not rich compared to some households we were comfortable because one while not super well paid we were paid better than many families and because of good money management we were able to make the most of the money we had.

Cole is right many kids don't have the type background that my parents provided so if we could start some type of education in school early that would give them a basic understanding of credit and the importance of building a future with money it would help these kids.

One of my favorite Movies of all time was "To Sir with Love" Sydney Poitier as the Teacher realized these young men and woman were about to graduate and did not have basic skills they would need to succeed.  Little things like how to dress and talk during a job interview. Schools should also teach you about life and what you need to do to succeed. Of course reading and math are important but it needs to be re-enforced with life skills also which includes money management.

Edited June 19, 2021 by AuburnNTexas

[W.E.D 11,070]

16 hours ago, Tigerpro2a said:

Dave has some good ideas, and some are just as far off base from anything I would ever do. 

Basically he's OK for the extremely financially illiterate people, then gives absolutely horrible advice for a lot of people. 

His hard-line stance avoiding credit cards, the absolutely dumb idea that you shouldn't buy a house with a 30yr mortgage, you should never finance a car, etc. 

Lot of absolutely terrible advice for anything besides paying off credit card debt. 

[W.E.D 11,070]

@Paladin is apparently a big Ramsey fan. All you money in envelopes? 

I'll be happy to prove me wrong wrt credit cards, 30yr and car loans. 

Education needs to be made about making your money work for you. You have power with money. DR loses out on a ton of money in his system. It's just basic math and he's on the wrong side of it

Edited June 19, 2021 by W.E.D

[Tigerpro2a 5,650]

49 minutes ago, W.E.D said:

Basically he's OK for the extremely financially illiterate people, then gives absolutely horrible advice for a lot of people. 

His hard-line stance avoiding credit cards, the absolutely dumb idea that you shouldn't buy a house with a 30yr mortgage, you should never finance a car, etc. 

Lot of absolutely terrible advice for anything besides paying off credit card debt. 

Fully agree.

[abw0004 10,125]

10 hours ago, Tigerpro2a said:

Ummm......Yes. I would agree. I like Dave's philosophy on paying off debts. Start with the smallest and pay it off, then apply that money to the next smallest on top of what your were already paying and pay it off...and so on and so on. Only time I would differ is if one of the higher ones has an insane rate.

Just as an FYI, that route is usually the most expensive way over your lifetime to pay off debts.  You want to go after the debt that has the most interest paid in dollars per year, not the highest percentage.  For example, you may have a debt with high interest and a small balance but another debt with a high balance and low interest.  You are paying more in the second debt in dollars than the first debt.  You would want to tackle the second one first.

All of this can be avoided if you don’t take on the debt in the first place unless it is a home.  I never put anything on a credit card that I know I can’t pay off with cash immediately and not go below my 6 month emergency reserve.  

[cole256 17,084]

It's funny how people's brain work different ways. I took some business classes but I'm not formally trained in finance, I'm trained as an engineer, but just naturally I would attack the debt with the highest interest. But that's just me

[Tigerpro2a 5,650]

3 hours ago, abw0004 said:

Just as an FYI, that route is usually the most expensive way over your lifetime to pay off debts.  You want to go after the debt that has the most interest paid in dollars per year, not the highest percentage.  For example, you may have a debt with high interest and a small balance but another debt with a high balance and low interest.  You are paying more in the second debt in dollars than the first debt.  You would want to tackle the second one first.

All of this can be avoided if you don’t take on the debt in the first place unless it is a home.  I never put anything on a credit card that I know I can’t pay off with cash immediately and not go below my 6 month emergency reserve.  

Yes...Ultimately that is what I was inferring in the last part of my post. I should have went into more detail.

[W.E.D 11,070]

5 hours ago, cole256 said:

It's funny how people's brain work different ways. I took some business classes but I'm not formally trained in finance, I'm trained as an engineer, but just naturally I would attack the debt with the highest interest. But that's just me

It's bc it's just math vs the emotional ties with the Ramsey /Snowball effect

[cole256 17,084]

On 6/19/2021 at 5:28 PM, W.E.D said:

It's bc it's just math vs the emotional ties with the Ramsey /Snowball effect

That's certainly one thing I lack.....emotions 😂

[Zeek 16,657]

Surprised he didn't find a better landing spot.

[metafour 4,969]

40 minutes ago, Zeek said:

Surprised he didn't find a better landing spot.

Not surprising at all. He was the backup plan to a backup plan at QB under Gus Malzahn lol. Wasn't a highly regarded QB recruit at all.

[ScotsAU 1,340]

24 minutes ago, metafour said:

Not surprising at all. He was the backup plan to a backup plan at QB under Gus Malzahn lol. Wasn't a highly regarded QB recruit at all.

He wasn’t a back up plan. He was a smart and athletic QB that needed a lot of polishing. The idea with signing him was to take a chance on a guy who had a chance of panning out.

[Zeek 16,657]

1 hour ago, metafour said:

Not surprising at all. He was the backup plan to a backup plan at QB under Gus Malzahn lol. Wasn't a highly regarded QB recruit at all.

Eh, I think he could have worked out at an AAC school. 

[auburnphan 6,050]

5 hours ago, ScotsAU said:

He wasn’t a back up plan. He was a smart and athletic QB that needed a lot of polishing. The idea with signing him was to take a chance on a guy who had a chance of panning out.

He wasn't even in our top 15.  He didn't even get an offer until the end of March 2019 after we missed on every quarterback we offered.  It was a tough qb recruiting year for Auburn.  What you said about him is true, but it is very dishonest to say he wasn't a back up plan.

[metafour 4,969]

19 hours ago, ScotsAU said:

He wasn’t a back up plan. He was a smart and athletic QB that needed a lot of polishing. The idea with signing him was to take a chance on a guy who had a chance of panning out.

You clearly don't remember that recruiting cycle. Garnett was a major reach after we couldn't entice an SEC-caliber QB recruit to come here. He was our lowest rated signee in that class per 247, and he didn't have a single other P5 school of note that he had a committable offer from. That is the definition of a "backup" - when you need to sign a QB, but have to go to option C or D on the list.

Garnett was never going to play at Auburn.