How much credit card debt do you have?

[Tilted]

^ This^ Except, I rarely charge that much in a month.

WR, I recommend a budget. I have had a budget for years and I stick to it. Budget EVERYthing...savings, too.

I used to not use credit cards for much of anything, except ordering stuff. But over time I started using them for everything. There just wasn't a good reason not to and that lack of reason not to on the one side was balanced against meaningful benefits on the other. So now I use credit cards pretty much everywhere, except at fast food places or in convenience stores or in situations where you kinda have to use cash. Every now and then I won't use a credit card because I realize that those few bucks might make a difference to the person I'm doing business with, so I give them cash to save them the processing charges - that would typically be for a larger purchase though.

 

[hitchicken]

$0. Pay off within 30 days. Also get cash back rewards.

 

[GWguy]

It's normally 0 at the end of the month, any open balance gets paid off. This month I'm carrying over about $4k for some new appliances, but that will be paid off next month. No mortgage.

 

[Gilligan]

I typically create $1,000 to $2,000 worth of credit card debt over the course of a month, but then I zero it out and the cycle starts again. I don't use credit cards for credit (or out of a need for credit), I use them for the other benefits I get - ease of paying, reduced need to carry lots of cash, ease in keeping track of expenditures, an extra layer of protection between me and sellers, the rewards that I accumulate over time and can use to pay for other things.

That's what I do too.

About 20 years ago, I made the mistake of covering business operating expenses with credit cards, during "lean" stretches. Big mistake..but after I dug out from under that, I never ran them up again.

 

[Dakota]

I typically create $1,000 to $2,000 worth of credit card debt over the course of a month, but then I zero it out and the cycle starts again. I don't use credit cards for credit (or out of a need for credit), I use them for the other benefits I get - ease of paying, reduced need to carry lots of cash, ease in keeping track of expenditures, an extra layer of protection between me and sellers, the rewards that I accumulate over time and can use to pay for other things.

I am pretty much the same way.

Today, I just dropped $1,000 down on my card which leaves like $58 on it but I charged my electric, water, cable and internet bills so that is going to be a balance of $500 on it when it credits on there sometime during the 2nd week of August. I'll pay that with my next paycheck but I'm sure I'll still have other charges cycling. I think I paid 17 cents in interest last year and the year before, nothing. I just cannot stand keeping a check book so to me this is easier.

I have been in credit card debt and swore when I dug out, I would never end up down that road again. I charged a chunk of funeral expenses on my credit card when my sister died and I thought it was doable at 2 percent interest until paid off but Countrywide sold off the card soon after to Chase and Chase raised the rate to something like 15-16 percent. That sucked.... I pestered them until they reduced the rate to 8 percent which took 10 months but after 10 months, I was drowning in interest. I ended up offering them a settlement. There was a class action law suit over it all that took years to settle and I just got a check a few months ago for $60 or $80 dollars. When all this happened, there was a story on 20/20 about it. Some used the card to pay for medical expenses and ended up in the same nightmare I was in.... never again.

 

[withrespect]

I need a financial counselor.

 

[somdfunguy]

I need a financial counselor.

It is really quite simple. Sit down a develop a budget. Stick to the budget. Have money.

You want to lose weight, eat less exercise more. You want to have money, spend less and exercise more. Same concept

 

[withrespect]

It is really quite simple. Sit down a develop a budget. Stick to the budget. Have money.

You want to lose weight, eat less exercise more. You want to have money, spend less and exercise more. Same concept

You calling me fat?

 

[somdfunguy]

You calling me fat?

no, just over budgeted

 

[Bann]

You calling me fat?

I don't know you in real life, but I would help you make a budget if you want. It's very easy to do and once you live that way for awhile, you get better at it.

I just love the feeling of not having any debt owed. (except the house, which is a big one, but that's a good debt)

 

[somdfunguy]

I don't know you in real life, but I would help you make a budget if you want. It's very easy to do and once you live that way for awhile, you get better at it.

I just love the feeling of not having any debt owed. (except the house, which is a big one, but that's a good debt)

you should do this WR

 

[getbent]

It is really quite simple. Sit down a develop a budget. Stick to the budget. Have money.

You want to lose weight, eat less exercise more. You want to have money, spend less and exercise more. Same concept

To people in debt that always seems easier said than done. Hubby was laid off and new job was a big pay cut. Half his take home pay goes to the mortgage. I literally have barely enough money each week to buy gas and some groceries. We are looking into getting rid of DTV to help and will do Amazon prime + Netflix maybe for TV.

 

[KDENISE977]

We use our credit card for large purchases, as a way not to deplete our MMA, it's easier to pay them over time and we have such a low interest rate. Example, we needed a new washer and dryer and it was $3,500.00, slapped it on the card and paid it off over the course of year. I think it's different for every one. I work for a bank so I see what the interest charges are and make sure it gets paid quickly

 

[lucky_bee]

It is really quite simple. Sit down a develop a budget. Stick to the budget. Have money.

You want to lose weight, eat less exercise more. You want to have money, spend less and exercise more. Same concept

It's really not quite that simple. on both those accounts.

WR I feel ya...we can go to a financial counselor together then go shoe shopping

 

[JeJeTe]

To people in debt that always seems easier said than done. Hubby was laid off and new job was a big pay cut. Half his take home pay goes to the mortgage. I literally have barely enough money each week to buy gas and some groceries. We are looking into getting rid of DTV to help and will do Amazon prime + Netflix maybe for TV.

I cancelled Dish because it was $100 a month and went to Netflix and Hulu. And I haven't looked back. A savings of $80 a month for me and that results in 2 tanks of gas.

 

[Bann]

To people in debt that always seems easier said than done. I literally barely have enough money each week to buy gas and some groceries. We are looking into getting rid of DTV to help and will do Amazon prime + Netflix maybe for tv.

Did you mean to people not in debt?


It isn't easy sometimes to get out of debt. It requires discipline. You have to just decide to live within your means. For example, if you cannot afford to pay cash for a vacation and still have money for necessities don't take it. There are lot ways to cut back on spending.

Dave Ramsey has some good books about managing money. I don't have the links handy but you can Google his name and easily find them!

 

[vraiblonde]

We put most of our spending on the card, but make sure to pay it off at the end of the month.

^This^ because I not only don't pay interest, but I get points to buy things on Amazon as well. I have a phobia about paying interest.

 

[Monello]

Navy Federal CU credit cards build points. I redeem the points when it's time for a road trip. The points help pay for a few tanks of gas and other incidentals. But I don't carry a balance, just pay it off monthly. I can't do what I do with a balance on my card. I do have to take the time to rationalize purchases, instead of just spending money when I was working.

 

[Roman]

I have zero credit card debt, but it took me a long time to stop using credit cards. When the kids were still at home, I used credit cards because it seemed as though the kids would need something, or grow out of their clothes pretty quick. There was always a "good" reason to use the card. I pay cash only now, and have been credit card free for about 16 years.

 

[getbent]

I cancelled Dish because it was $100 a month and went to Netflix and Hulu. And I haven't looked back. A savings of $80 a month for me and that results in 2 tanks of gas.

Our DTV bill is $130 w/ no movie channels. I'll have to bribe my daughter to use her Xbox to access these,