How did u pay for ur rig?

[valcore 0]

I used the leftovers from my GI Bill. So I guess the government payed for my rig.

The most terrifying words in the English language are: ‘I'm from the government and I'm here to help’. ~Ronald Reagan

30,000,000 legal firearm owners killed no one yesterday.

[EricaH 0]

If you have a 401K plan, or some other type of retirement plan, you can probably take a loan out on it.

That's what I did. I paid 3.0% interest (the actual $ that went to interest also went to my account, not the administrators, per the law). It's a note off your 401K paid back over a set time period (typically 3, 5 or 10 years) & at a set interest rate. The $ was withdrawn directly from my paycheck, so I didn't have to deal with it.

There is no can't. Only lack of knowledge or fear. Only you can fix your fear.

PMS #227 (just like the TV show)

[sweep 0]

I don't know about the states. In the UK there are a few around this rate, ISA accounts which let you invest up to 3k a year tax free. Yorkshire bank are currently doing 5.2% and Halifax are doing 5.15% they're about the best just now.

As kelpdiver says, you have to be careful and honest with this. If you're disorganised with money you can get into trouble. But if not it's worth thinking about.

Sweep

----
Yay! I'm now a 200 jump wonder.... Still a know-it-all tho..

[FrEaK_aCcIdEnT 0]

Quote

You could try the technique a former Brown Field jumper tried - get a new credit card, buy a rig then declare bankruptcy.

thats a thought but i think they passed new laws on bankruptcy that prevents putting credit card debt in with it. i think...

ExPeCt ThE uNeXpEcTeD!
DoNt MiNd ThE tYpOs, Im LaZy On CoRrEcTiOnS!

[Jeth 0]

Bought my complete rig off Ebay. I used my home equity line of credit. It woulda been nice if I had the cash, but at least it is pretty cheap debt compared to credit cards. All my cash was going for AFP at the time. A few months later I bought my Cypres used and I paid cash for that. Had a nearly-new rig, ready to jump, when I graduated AFP. That was awesome.

"At 13,000 feet nothing else matters."
PFRX!!!!!
Team Funnel #174, Sunshine kisspass #109
My Jump Site

[kelpdiver 2]

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If you have a 401K plan, or some other type of retirement plan, you can probably take a loan out on it.

ah, yes, this is a nice method in that you end up paying interest back to yourself, though you do lose whatever gains it would have had in the invested funds.

But note that if you decide to quit your job, that loan is immediately due.

[DanglesOZQld 0]

Paid cash for my first second hand set of gear and took out a loan for the second (No spot on the vote for a loan so I put Credit Card lol!).

Don't even want to think about coming up with the money for buying a new canopy as the one I use now probably has about 4-500 jumps max left on it.

At least now with handscam we are jumping mostly Tandem gear and this is supplied to us by the Dz.

BSBD! -Mark.

"A Scar is just a Tattoo with a story!!!"

[incode 0]

selling my car lol yeah im loosing my licence so im selling my car to pay for the rest of my aff and the other jumps till i can jump on my own rig :D

[Eule 0]

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One thing I'd say about credit cards which has not been mentioned is that you can get some really good deals now for introductory 0% interest payments on new cards.

Usually it only applies to Balance Transfers but there are an increasing number that will apply it to purchases as well.

I've gotten a few of these lately and have been pondering them. One thing to watch out for if trying
this is a balance transfer fee. Usually it is some percentage of the balance transfer amount, and has a
max and a min (like: fee is 5% of amount transferred, $25 min, $500 max). Very occasionally, the offer
will say "no fee on transfers with this offer", but usually it is silent on this point and you have to look at
the disclosure box on the back of the letter to find out about the fee. If the fee is small enough against
the cost of a rig, you might still come out ahead to take advantage of 0% money, but you should find out
about it before you buy.

Also, if the 0% only applies to transfers, you could always charge the rig on your current card and then
transfer that balance to the new one immediately. This requires a good understanding of your billing
cycle and faith that the 0% card will send the check to your current card in a timely manner, to get out
of paying a month or two of interest on your current card.

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Be warned though, the cards with the longest 0% deals usually have hefty interest once the deal expires, and you will also find if you miss a minimum payment even by a day they will cancel your deal.

If you're especially paranoid, or have a credit card with Chase (f*ckers), you might want to send your
payments registered mail, return receipt requested, about two weeks ahead of time. I got rid of a Chase
card because the payments that I sent in a couple of weeks early were "late" for enough months in a row
to trigger an interest rate increase to something stupid. They later got spanked in a class-action lawsuit
for this practice.

Somewhat related - as of Thursday, everybody in the United States will be able to get a free copy of
their credit report once a year, per federal law. It was rolled out in stages and the east coast is the
last to get it, on 1 September. I didn't find any surprises on mine, but some people have found
surprises on theirs. https://www.annualcreditreport.com/cra/index.jsp In an attempt to be
somewhat on topic, I will note that it was manifest at the DZ I go to that mentioned this to me - she
works at a bank.

Eule

[gkc1436 3]

1st new rig....w/cypres

Rolled Coins

[Salsa_John 0]

Took a second job.

"You did what?!?!"

MUFF #3722, TDSM #72, Orfun #26, Nachos Rodriguez

[Joellercoaster 6]

Am about to order mine in the next couple of days, assuming my nylon crack dealer is reading their email.

Have resigned myself to living very frugally over the next 12 weeks (having to buy new due to weird size) and paying cash.

In the meantime I'll just jump enough to stay current, but it'll be worth it when it gets here eh?

Counting the days...

--
"I'll tell you how all skydivers are judged, . They are judged by the laws of physics." - kkeenan

"You jump out, pull the string and either live or die. What's there to be good at?

[kelpdiver 2]

the best way to deal with credit card companies stalling on crediting your mailed statements is to go online. I think 5 business days in advance is the worst case scenario (most are 2 days), and you can schedule it.

Chase's is a bit cheesy - they just changed their auto pay services so you can't schedule a monthly payment of say, $500. Now you can only auto schedule the min payment, or the full payment. I think it's obvious why they did this.

[FrEaK_aCcIdEnT 0]

chase does suck donkey dick but i just go to the branch and pay cash so it posts imediatly

ExPeCt ThE uNeXpEcTeD!
DoNt MiNd ThE tYpOs, Im LaZy On CoRrEcTiOnS!

[kelpdiver 2]

as long as you're there before 1pm!

(the latest joke from the folks like Chase and Citibank - if the mailman delivers after 1...)

[FrEaK_aCcIdEnT 0]

but they always tell me if it doesnt post then i can call customer service and fax the receipt in showing that i paid on the correct day. that will get rid of any charges. but i dont make it a habit to pay on the due date either. its usually paid well in advance.

ExPeCt ThE uNeXpEcTeD!
DoNt MiNd ThE tYpOs, Im LaZy On CoRrEcTiOnS!

[neoteng 0]

sold my turntables and mixer. finally saved up for another set up nearly two years later.

[skyyd1ve 0]

i've had a lot of money in the bank for a long time for "just incase" times...i've always been one to save and have been a frugal spender UNTIL i started skydiving :p
so, i recently bought all my own gear with the money that was in my bank account and i wouldn't have had it any other way =)