But again MTS, I'm asking - if you canNOT pay it off every month, such as the situation my Mom and I were in, is carrying a balance for a few months acceptable?  I mean, how do you draw the line?  Imagine if it were your kid, or your nephews and/or nieces. Would you rather they were embarrassed as I was in certain situations, or having to do without, to the point of it hurting them pretty badly socially (either someone else pays for you or you don't get to participate/use the calculator/go to cedar point with the band/go to prom)?  Literally, you cannot pay for it all NOW, but you could in, say, 2-4 months?

But again MTS, I'm asking - if you canNOT pay it off every month, such as the situation my Mom and I were in, is carrying a balance for a few months acceptable?  I mean, how do you draw the line?  Imagine if it were your kid, or your nephews and/or nieces. Would you rather they were embarrassed as I was in certain situations, or having to do without, to the point of it hurting them pretty badly socially (either someone else pays for you or you don't get to participate/use the calculator/go to cedar point with the band/go to prom)?  Literally, you cannot pay for it all NOW, but you could in, say, 2-4 months?

 

I honestly cannot answer, since I always pay in full.  I'm too cheap to pay the interest. 

 

I guess if it's a small purchase, under $300 bucks, and you paid back $100 each month, then the FC isn't so bad.

I know you're cheap :)  but you also have a brain and can theorize.

I know you're cheap :)  but you also have a brain and can theorize.

 

It's so hard to answer, my heart is saying yes, "do it for the kid."

 

M left brain is saying, "no, it's a character builder and 15 years from now you'll realize that you not getting/having XYZ has made you a better person and not some materialistic spender."

 

My right brain is saying, "You know want to dress the kid in the most fabulous outfit and have the best of everything!  Go ahead buy it, as a matter of fact, buy one for yourslef!"

 

This is why they dont show me prices of things at the stores they just make a pretty presentation and I'm sold.

wow MTS that is a pretty in depth look at your inner self.  I feel like we should of had drinks first or something.

wow MTS that is a pretty in depth look at your inner self.  I feel like we should of had drinks first or something.

 

LMAO!!

M left brain is saying, "no, it's a character builder and 15 years from now you'll realize that you not getting/having XYZ has made you a better person and not some materialistic spender."

 

I can tell you from experience that 100% is not true.  It was not a character builder and did not prevent me from going massively into debt.

M left brain is saying, "no, it's a character builder and 15 years from now you'll realize that you not getting/having XYZ has made you a better person and not some materialistic spender."

 

I can tell you from experience that 100% is not true.  It was not a character builder and did not prevent me from going massively into debt.

 

Well thank goodness your five finger discounting butt didn't go to jail.

I got caught a couple of times but always managed to get out of it. Considering the massive amounts of things I stole, I was pretty lucky.  The only thing I was ever handcuffed for and taken to the police station for was inciting a riot.  But I wasn't actually arrested, they released me to my parents once they got me downtown.

I got caught a couple of times but always managed to get out of it. Considering the massive amounts of things I stole, I was pretty lucky.  The only thing I was ever handcuffed for and taken to the police station for was inciting a riot.  But I wasn't actually arrested, they released me to my parents once they got me downtown.

 

Inciting a riot?  Not you Norma Rae, not you. 

 

You gotta tell us this story!  How are you going to explain that to the kid, if he/she ever gets into trouble.  LOL

hee.

 

Honestly, the "been there/done that" attitude is often a pretty good discouragement for outrageous behavior for kids IMO.  I was just a bad kid.  But there were a lot of things other people got up to that I never did.  I never drove drunk because I believed my Mom when she said she would pick me up, no questions asked, no matter what time of day or night if I ever didn't want to ride with someone.  I tested it out once when I was in a situation like that and it went down exactly as she said it did, so I never rode around with drunk kids or drove myself when I was drunk, for example.

 

I'll tell you the story in PM; don't want to take this too much more OT else I face the wrath of the mods.

hee.

 

Honestly, the "been there/done that" attitude is often a pretty good discouragement for outrageous behavior for kids IMO.  I was just a bad kid.  But there were a lot of things other people got up to that I never did.  I never drove drunk because I believed my Mom when she said she would pick me up, no questions asked, no matter what time of day or night if I ever didn't want to ride with someone.  I tested it out once when I was in a situation like that and it went down exactly as she said it did, so I never rode around with drunk kids or drove myself when I was drunk, for example.

 

I'll tell you the story in PM; don't want to take this too much more OT else I face the wrath of the mods.

 

put it in off topic...(getting popcorn)

hee.

 

Honestly, the "been there/done that" attitude is often a pretty good discouragement for outrageous behavior for kids IMO. I was just a bad kid. But there were a lot of things other people got up to that I never did. I never drove drunk because I believed my Mom when she said she would pick me up, no questions asked, no matter what time of day or night if I ever didn't want to ride with someone. I tested it out once when I was in a situation like that and it went down exactly as she said it did, so I never rode around with drunk kids or drove myself when I was drunk, for example.

 

I'll tell you the story in PM; don't want to take this too much more OT else I face the wrath of the mods.

 

put it in off topic...(getting popcorn)

 

Please tell us. You can't mention getting arrested for inciting a riot and not tell the story.

I pay it off every month, period. Im a firm believer of, "if I can't afford to buy it and pay for it now, I don't need it"

 

This is not a knock on you MTS, but I doubt you've ever had to face this situation, so you can't really say with any certainty what your attitude would be if you had to face going without what most people consider necessities or placing it on a credit card you know won't be paid off right away.  More power to you for having the luxury not to have to be in this situation, I am just saying you can't really say what you would or would not do if you haven't been in the situation yourself.

Sorry, I sent it to MTS as a PM. You'll have to wait for my book. BTW, being handcuffed and taken downtown is not the same as being arrested. I was never mirandized or booked for anything.

But again MTS, I'm asking - if you canNOT pay it off every month, such as the situation my Mom and I were in, is carrying a balance for a few months acceptable?  I mean, how do you draw the line?  Imagine if it were your kid, or your nephews and/or nieces. Would you rather they were embarrassed as I was in certain situations, or having to do without, to the point of it hurting them pretty badly socially (either someone else pays for you or you don't get to participate/use the calculator/go to cedar point with the band/go to prom)?  Literally, you cannot pay for it all NOW, but you could in, say, 2-4 months?

 

I personally think that if this type of situation is something that becomes more the norm than the exception, then it's a slippery slope, man.

 

The better you are at paying off your bills immediately, the better you are at not even opening up the door to temptation.

 

And I'm speaking from experience, unfortunately. Hindsight is 20/20, and all that.

 

Obviously, this isn't a blanket statement all across the board for everyone out there. But generally, I personally think credit cards should be used in an emergency scenario, and still, it should be done within your means. Don't go buying something on credit that will take you months to pay off if you can't afford to do it .. especially right now with job security flying right out the window. But I think even outside of a recession, it's good to be wise.

 

And I think the sooner kids learn that sometimes you just can't FUCKING AFFORD something .. the better.

Just go back to the old way.. No money no buying...

Just go back to the old way.. No money no buying...

sounds good to me, but the problem is, so many have credit cards now.  to bad people can't just eliminate credit cards. 

 

If everyone shopped only using a debit card, we'd be "back to old times".

Just go back to the old way.. No money no buying...

sounds good to me, but the problem is, so many have credit cards now. to bad people can't just eliminate credit cards.

 

If everyone shopped only using a debit card, we'd be "back to old times".

 

^I'm one of those who learned the hard way. I only use a debit card now; if I don't have it in my checking account, I don't buy it. I will never fall into the credit card trap again.

Just go back to the old way.. No money no buying...

sounds good to me, but the problem is, so many have credit cards now.  to bad people can't just eliminate credit cards. 

 

If everyone shopped only using a debit card, we'd be "back to old times".

 

^I'm one of those who learned the hard way. I only use a debit card now; if I don't have it in my checking account, I don't buy it. I will never fall into the credit card trap again.

Why can't you put it on the CC and pay in full at the end of the month?  some CC offer built in protections that DC don't.

Just go back to the old way.. No money no buying...

how would you get a hotel room? or get a plane ticket?

Just go back to the old way.. No money no buying...

how would you get a hotel room? or get a plane ticket?

 

UM CASH!  When did hotels, rental car agency or airlines stop taking cash?  :wtf:

 

UM CASH! When did hotels, rental car agency or airlines stop taking cash? :wtf:

 

I've known people to have many difficulties making reservations with cash. in some cases the only way to do so was with a credit card.

All money should be electronic anyways.  We'll get there some day.

Just go back to the old way.. No money no buying...

sounds good to me, but the problem is, so many have credit cards now.  to bad people can't just eliminate credit cards. 

 

If everyone shopped only using a debit card, we'd be "back to old times".

 

^I'm one of those who learned the hard way. I only use a debit card now; if I don't have it in my checking account, I don't buy it. I will never fall into the credit card trap again.

Why can't you put it on the CC and pay in full at the end of the month?  some CC offer built in protections that DC don't.

 

I say go back to writing checks and only using the debit card to withdraw cash from ATMS. I was using my credit card over a year ago for mostly gas and was dropping 60-70 bucks a week by driving to CSU 4 days a week from lake county border. Once i stopped driving and started taking the bus i started using the card for every day purchases, as well as airline tickets to Arizona, Scotland (then to london, eurostar to paris), and Las Vegas. $2,000 in credit card debt is probably not a lot to some people, but for a college student working part time it seemed like a lot worse. Eventually i managed to get the card paid off sometime in march and now only use it for emergencies, and always pay it off every other friday when i get paid. Itd be nice to get rid of it all together and not have to worry about it, but i dont see that happening. Plus it helps that i dont have many bills to pay right now either.

Just go back to the old way.. No money no buying...

how would you get a hotel room? or get a plane ticket?

 

UM CASH! When did hotels, rental car agency or airlines stop taking cash? :wtf:

 

I've had problems in the past renting a car with a debit card--they want the flexibility to bill for damage, fuel, etc. Also, if you needed to buy a plane ticket at the last moment for an emergency flight (in 2002 my wife and I had to fly to Poland with 1-day's notice to care for a dying relative--$3000+, coach) and you don't have your Suze Orman 8-month emergency fund in place, you'll definitely need a credit card. 

 

UM CASH!  When did hotels, rental car agency or airlines stop taking cash?  :wtf:

 

I've known people to have many difficulties making reservations with cash. in some cases the only way to do so was with a credit card.

 

I don't know what they were doing.  Hotels take cash, but you need to leave a deposit.  Airlines take cash.  Car rental locations take cash, and like hotels, need an extra security deposit.

 

The reason these people you know had problems, I suspect, because they:

a) didn't pre register/qualify (it takes about four weeks depending on rental company)

b) wanted a certain type of vehicle

c) unable to show insurance (many cc have drivers insurance built in)

d) rented at an airport vs a city location

 

 

Just go back to the old way.. No money no buying...

how would you get a hotel room? or get a plane ticket?

 

UM CASH!  When did hotels, rental car agency or airlines stop taking cash?  :wtf:

 

I've had problems in the past renting a car with a debit card--they want the flexibility to bill for damage, fuel, etc. Also, if you needed to buy a plane ticket at the last moment for an emergency flight (in 2002 my wife and I had to fly to Poland with 1-day's notice to care for a dying relative--$3000 , coach) and you don't have your Suze Orman 8-month emergency fund in place, you'll definitely need a credit card. 

 

Thats because the car agency puts a hold on X% of the rental for the entire length of the rental and it could take 4/5 days for the hold to lift.

 

That is why is is suggested you never HOLD a reservation with a debit card.  Hold it with your credit card and then pay with the final bill using the debit card.

^Hence the need for a credit card, of which I have none.

^Hence the need for a credit card, of which I have none.

 

Why don't you have a credit card?

^The bummer of financing $3,000 worth of plane tickets for 7 years.

Just go back to the old way.. No money no buying...

sounds good to me, but the problem is, so many have credit cards now.  to bad people can't just eliminate credit cards. 

 

If everyone shopped only using a debit card, we'd be "back to old times".

 

^I'm one of those who learned the hard way. I only use a debit card now; if I don't have it in my checking account, I don't buy it. I will never fall into the credit card trap again.

Why can't you put it on the CC and pay in full at the end of the month?  some CC offer built in protections that DC don't.

 

If I was salaried with a guaranteed income every month, I would. I'm a carpenter; we are paid hourly. If we're working outside and we get rainy weather, we don't work. If I finish a job and my contractor doesn't have anything right away, I don't work. It's hard to plan financially when there are a host of variables that you don't control that can reduce and/or stop your income on a weekly/monthly basis. That's why I only pay for things with my checking account.

 

My wife has several credit cards we use for things like booking hotels/flights/emergency kind of stuff.

"It's hard to plan financially when there are a host of variables that you don't control that can reduce and/or stop your income on a weekly/monthly basis"

 

I've recently joined your hell after 4.5 years of steady salaried work - not a fan.

I am very relieved right now. I make more than enough money that I can cover all of my debts, but I was worried about losing my job (it's still a possibility in the future). Today,

I sent in half of the remaining balance to cover my dermatologist/cosmetologist bills;

sent in a check to cover the last payment on my road bike, although it was without APR until October (still nice to have it done and over with);

pay off the remaining balance on my Chase Amazon.com credit card I got because of a very nice special they were running for new accounts, sans $1,000 that I had charged as my deductible that will be reimbursed within 60 days (auto accident in late March).

 

That leaves me with $1,000 in the Chase Amazon.com card which has a 13% APR, as noted above, and $1,366 in my National City Credit Card which has a 19% APR. I'll be relieved when it is all paid off. I'd like to start dumping money into a fund I have started so I can work towards a large down payment on a condo next year.

 

To save money, I have,

Canceled my Cable Internet ($30) and then my Cable itself ($40) that I never used. I leach off of the cafe and I get great speeds.

 

Switched my cell phone plan. I downgraded from 1000 minutes to 500 minutes, added my "favorite 5 callers," and removed the built-in texting plan. I settled for an external 250 and now 500 texting option. All in all, I've saved $10 a month.

 

Brought in my 49cc scooter. Using the scooter to work and on errands will save me approximately $40 in gasoline every week. I drive a Toyota RAV4 4-cyl, so I get on average 24 mpg. The scooter gets 123 mpg in comparison.

 

Doing my own photographic prints on a pigment-based 10-ink printer. I've not yet recouped the costs of this, but over the time frame of a year, I am expecting to save at least $250 and receive the same quality that of a photo lab.

 

In February, I moved from a penthouse/loft to a unit below it, and cut my gas/electric bill from $300/month to $70. I'm working to get it under that. My target for the summer is $65.

Just had a new credit card mailed to me because of a possible security threat, and since they gave me a new card they decided to bump my line of credit up to $4,000. Im a college student graduating in 3 weeks, with 2 part time jobs making no more than $1,200 and as little as $500 in a month. Why do they feel the need to give me a $4,000 line of credit? Luckily for me my credit card balance is at $0 right now!

Why do they feel the need to give me a $4,000 line of credit?

 

Because they want you to use it! :)  The additional available credit will actually improve your credit score as long as you aren't tempted to use it, so don't look a gift horse in the mouth.  I tried to get my line of credit expanded because all of my cards are jacking up the interest rates (happening to everyone right now) and I cannot close them at this time, so I tried to make my credit "picture" better by asking for increased line of credit and was denied; feel lucky/glad they gave you the additional credit during a tough time for those of us carrying a balance.

Why do they feel the need to give me a $4,000 line of credit?

 

Because they want you to use it! :) The additional available credit will actually improve your credit score as long as you aren't tempted to use it, so don't look a gift horse in the mouth. I tried to get my line of credit expanded because all of my cards are jacking up the interest rates (happening to everyone right now) and I cannot close them at this time, so I tried to make my credit "picture" better by asking for increased line of credit and was denied; feel lucky/glad they gave you the additional credit during a tough time for those of us carrying a balance.

 

Usually the only thing i put on my credit card is airline tickets, what i spend on vacation, gas (rarely need to put gas in the car anyway) and some bigger purchases. But i dont see myself ever going over $600 again on my credit card anytime in the near future.