Posted on 12/27/2005 7:13:51 AM PST by No Blue States
There are plenty of us that have "been there and done that". For DH and I it started in college (Cool! A credit card!) Luckily, my husband had me to put us on a plan; but then babies and unexpected hospital bills came along. Sometimes life happens before you can plan for it. For us, the credit cards were the cushion that we needed to get us throught difficult cash-strapped times.
Moose, thanks..now I dont feel so alone in my lack of financial discipline.
By the way, like yall we have a 3rd kid due in July. Congrats!
Im skitzing on debt in light of another baby coming.
I am working through the holidays to rack up some OT for savings. I may sell all my stuff on Ebay. lol
"also enclose the cards cut up.."
I'm not so sure that's an option for the type of people likely to be paying the minimum now.
"But sometimes people who have little choice when the car suddenly breaks down.."
Yeah, but that should really be pretty rare. I think one big reason a lot of people don't have some pin money set aside is that they are already paying out every penny they make on existing debt to begin with.
"But sometimes people who have little choice when the car suddenly breaks down, or a plumbing problem crops up, or suddenly you have no heat, well, you don't always have $2K cash on hand. "
You are being a spoil sport. Look, this is all about posting how intellectually, economically, and morally superior we all are! Any hardships, or problems can be pointed to as a lack of planning, or ignorance.
I'm one of them - got out of extended credit card debt and high interest rates about 17 years ago and don't intend to go back to that black hole where all the money goes. We use our credit cards for groceries, gas, dining out, etc., and pay it off each month. If I needed a lot of extra money for a "loan" I would apply for a loan and get much better rates. If we don't need it, we won't go into debt for it; if we do need it, and can't afford to buy it outright (how much of credit card debt really fits that category?) we won't use credit cards. I really feel for the folks who got into the trap and don't know how to get out, but I find that being responsible with one's finances is the best bet. Heck, we can afford a biiger TV, but we still use the 32" one that is 7 years old. How many folks do you know that have enormous credit card debt and also have the newest cars, latest computers, best stereos and biggest TVs?
We took a huge hit from Katrina, but we can also afford to put things back together over a couple years because we try to be good stewards of of our assets.
Merry Christmas!
(Denny Crane: "I Don't Want To Socialize With A Pinko Liberal Democrat Commie. Say What You Like About Republicans. We Stick To Our Convictions. Even When We Know We're Dead Wrong.")
Easily solved. Don't use cc or pay them off every month.
I suspect some who think so highly of themselves for lack of debt actually make better money than most of those with considerable debt. More than some heroic self disciplne they exercised its more about that they make enough to pay cash for everything..
I do not hold that against them at all. But the gloating is unbecomming if they do not consider their means are above others.
Pay it down to zero every month.
Then, it doesn't matter what they charge.
It should be, but sometimes you can't afford a newer car, and have to use what you got. Me, I cut up almost all plastic. Just have 3 accounts now, about to be 2, and 1 by mid-summer.
bttt!
Myself and my wife have 20K to clear. We are starting Dave Ramsey's Financial Peace this month.
www.daveramsey.com
AMEN!!!
For some, it's not a matter of lacking financial discipline, it's a matter of addressing life's issues as best you can.
For those who don't need to concern themselves with such issues, good for you, I'm happy for you, I've been there too!
R3
"I do not hold that against them at all. But the gloating is unbecomming if they do not consider their means are above others."
Actually, they do consider their means being more than most, and consider those who don't make as much as they do as being stupid, or lazy, or both.
There is much good advice here. Credit cards are evil. They are a good tool, but they are a power tool. Power tools, used incorrectly can injure you severely!
It's just that, in general, there is an extremely large helping of condescention with the advice.
I get my re-fi check this week. I'm paying off the plastic and holding a card-cutting party. I'm not gloating at all, I know how undisciplined use of CC's can easily bury someone financially. But it is really nice to get away from those usurous (?) interest rates.
Speaking of car payments, we will drive the current ones until the cards are payed off. Sending the entire car payment to the principal of the CC's will make a huge dent.
And just how do you think they got to make better money in the first place?
People who "pay off [their] credit cards in full each and every month" bring loss to the credit card companies. For this loss other credit card users must pay :)
We have a 17k hurdle ourselves.
But, we have a new kick its A** attitude.
I wish yall the best.
On the bright side, when we pay this crap off we will have enough to not charge any more.
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