Credit Card Debt Anyone?
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Didn't need this to be a bashing session...I'm 20 years old who wanted to treat my family for once rather then them spending all of their money on me.
Lots of judgmental people on here...
I am using credit this Christmas as well. Normally, I have money saved, but we've had a bad year. Just make sure to pay over the minimum. Pay off the highest interest first. Send Reality_is_harsh a PM, as he offered. He seems to be a smart guy, from what I have seen. Merry Christmas!0 -
You paid for Christmas using credit cards? Was 364 days advance notice not enough for you to plan ahead?
wait just a darn second! Are you telling me its the SAME day EVERY single year?!? Yea, I am the worst about this, too. Buying gifts at the last minute, not using credit cards. That happens to be the one time I have an extra paycheck that was not previously promised elsewhere.0 -
theres this app called Check: I love it! you can add ALL your weekly, monthly and yearly bills to the app and tells you when its do, the minimun balance to pay, the balance etc!! highly recommended!!
*I spent only $300 and about $167 of it went on my card, the rest was cash ;-)0 -
Lots of judgmental people on here...
I am using credit this Christmas as well. Normally, I have money saved, but we've had a bad year. Just make sure to pay over the minimum. Pay off the highest interest first. Send Reality_is_harsh a PM, as he offered. He seems to be a smart guy, from what I have seen. Merry Christmas!
^^This is true, guess they have nothing better to do! Happy Holidays to you and yours.0 -
Never never never carry a balance on a credit card. I use credit cards for the cash back / travel points.
This!0 -
tis the reason i DONT have a credit card and NEVER will .
Frankly i don't see the point if you don't have the money then don't buy it!0 -
You paid for Christmas using credit cards? Was 364 days advance notice not enough for you to plan ahead?
wait just a darn second! Are you telling me its the SAME day EVERY single year?!? Yea, I am the worst about this, too. Buying gifts at the last minute, not using credit cards. That happens to be the one time I have an extra paycheck that was not previously promised elsewhere.
^^Hahah too funny! And I hear ya on that one, usually I have enough money but things have been tight.0 -
theres this app called Check: I love it! you can add ALL your weekly, monthly and yearly bills to the app and tells you when its do, the minimun balance to pay, the balance etc!! highly recommended!!
*I spent only $300 and about $167 of it went on my card, the rest was cash ;-)
That is great!!! Thanks!0 -
No cc debt here, it's cash on the barrel or we don't buy it!! :bigsmile:0
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Didn't need this to be a bashing session...I'm 20 years old who wanted to treat my family for once rather then them spending all of their money on me.
Lots of judgmental people on here...
Whoa, whoa, whoa. Nobody is being judgmental here.0 -
i wasnt able to pay off all of mine until i found a higher paying job0
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I use mint and really like it. Has helped me out a lot in keeping track of my finances. You will really like it once you get everything set up.
Been in trouble with CC's before and never again. I always just set aside x amount per paycheck aside for when the time comes to buy presents. I do make purchases with my CC all of the time but when the bill comes in I always pay what was put on it. I also carry a small balance to help with my credit score but anything outside of that is always paid off once the bill comes in.0 -
Whoa, whoa, whoa. Nobody is being judgmental here.
Hey hey, I'm not in any means saying you are at all! I found your post humorous and I am happy you've been budgeting for yourself, great job and Happy Holidays.0 -
I use mint and really like it. Has helped me out a lot in keeping track of my finances. You will really like it once you get everything set up.
Been in trouble with CC's before and never again. I always just set aside x amount per paycheck aside for when the time comes to buy presents. I do make purchases with my CC all of the time but when the bill comes in I always pay what was put on it. I also carry a small balance to help with my credit score but anything outside of that is always paid off once the bill comes in.
That is excellent, thank you! I'm just starting to get familiar with the app myself.0 -
I have a ton of CC debt...but that is because I was out of work for a while and everything had to go on the card to survive. Been almost 2 years and I am still struggling pretty bad. If you can avoid it, avoid it at all costs!
yup me to.
I had NO cc for years- and finally caved and got one- and for a while I managed it great- then struck on some REALLY hard times and was literally surviving off one. (for those of you judgy types- I'll ask you how you make a pay check of 500$ that comes only two times a month stretch to cover an 800$ rent and gas and groceries and your truck payment.
Please- I'm all ears)
anyway. yes- got in up to **** creek with that- did better- and then it's all been down hill. It's my biggest weakness. I need a MFP for my spending- I'm a retail therapy person- I don't do food therapy. ... I get depressed- I spend.
rough.
BF is trying to help me pull my crap together- it's rough.0 -
Actually carrying a small balance is good for your credit score. Keep it less than 15% of your available credit amount.
If you do some deep research into this you will find that that's simply not true. You don't need to carry a balance to raise your score. You don't get extra points for interest paid. What matters are the monthly balances that creditors report to the credit bureaus. These balances can be captured at any time during your credit card cycles. These balances are weighed against your available credit, and this debt-to-credit-limit ratio, or utilization, makes up about 30 percent of your FICO score, the most widely used scoring formula.
Why would I be incentivised with a higher credit score for agreeing to the penalty billing cycle interest? Answer: You are not.
Pay you balance in full. Don't pay interest if you don't have to.0 -
My wife and I have done this for years:
**Decide now what you are going to spend on gifts in 2014 (ie: $2000)
**Open a savings account
**Go to your HR dept and set up a split for your automatic payroll deposit (in this case, $167/mo; or about $77/paycheck if paid biweekly)
**Enjoy paying CASH for all your gifts! :bigsmile:
excellent plan!0 -
I hate to admit this to the judgypants here, but I'm having a problem. I don't use my cards often -- mostly just for things like plane tickets -- but I never manage to pay them off when I do. They're past $5 grand now :-(.
I'm going to put any Christmas money from my parents plus my tax return next year toward paying them off. I'm hoping that'll give me enough breathing room so I can be debt-free by 2015.0 -
My wife and I have done this for years:
**Decide now what you are going to spend on gifts in 2014 (ie: $2000)
**Open a savings account
**Go to your HR dept and set up a split for your automatic payroll deposit (in this case, $167/mo; or about $77/paycheck if paid biweekly)
*** Catastrophic event in November costs you $2000.
**Enjoy paying for all your gifts with your credit card!
Fixed it for you.:laugh:0 -
nope never had credit card debt. And yay, education debt paid off this year! Whoot.0
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