I got out of the credit card “business” while the getting was good. Wife and I now have no debts other than a house, a 15 year, fixed-rate mortgage that is roughly a 1/8 of our monthly income (in a good neighborhood, to boot) and less than $800 a month payment on two cars (and a third, my Jeep, which is already paid off).
It is all about living within your means. Nice stuff is wonderful, but it is stuff. The debt will have a far bigger impact on your life than the nice things ever could, and it will be NEGATIVE.
It feels SO good to be out from under all that debt. Never again!
Pay your bill in full every month and you won’t have problems.
I Just got a letter from BofA informing me that they are issuing me new cards with new numbers and are dropping my $30,000 credit limit and the new cards will have unlimited credit and no anual fee.
Everyone saying that you are a bad customer if you pay you bill in full every month is out to lunch.
Take 10% or so of that saved cash and buy physical gold and/or silver or at least a mutual fund in gold miners to cover any loss in dollar value with the onset of hyper-inflation. You’ll be glad you did. It’s only a matter of time before states have to be bailed out by electronic printing of money.