Debt Consolidation?

[JTS]

I have canceled a lot of fun spending to save for future fun.

as the Pandas kung fu master told him...

Yesterday is history, tomorrow is a mystery...today is a gift so use it and enjoy it.. that's why it is called the present. (or something like that anyways.. )



I didn't think of it that way, spending when you don't really need to even though you can afford it (i.e. lunches, fourbucks coffee, etc.). That's a valid point I now understand on using the CC and it being easy to swipe.

[woody]

Just because you have credit cards, doesnt mean you have to be far in debt. If you pay them off at the end of the month, you are essetially getting 30 days "dating" on your cash. Credit cards make life easier, you just have to develop the discipline to know what you can afford. I dont worry about using them to buy things i want as i buy a lot off the internet. I just have to be sure to pay them off at the end of the month and know when to say when. Woody

[coonazz]

I'd avoid them. Everything they do, you can do cheaper.

[Rattler]

Here is a good book, "Your Money Map" by Howard Dayton

[HUNTNETIME]

Many in this world do not have the discipline you speak of. It's just a fact of life. We want to enjoy ourselves and have things come easy. Unfortunately, credit cards give many people those very things, but come back to bite them in the end. My wife and I currently have $0 credit card debt and were never in any real trouble to begin with, so we are fortunate. But when things come easy, folks tend to abuse the privilege.

Just because you have credit cards, doesnt mean you have to be far in debt. If you pay them off at the end of the month, you are essetially getting 30 days "dating" on your cash. Credit cards make life easier, you just have to develop the discipline to know what you can afford. I dont worry about using them to buy things i want as i buy a lot off the internet. I just have to be sure to pay them off at the end of the month and know when to say when. Woody

[Encinal]

I think I got lucky in that I had a low limit on my card and just never raised it... Now I have a higher limit... but I still have the lower limit mentality and my spending habits have stayed pretty much about the same.

[Throwin Darts]

I buy everything on a credit card. I pay it off in full every Friday. By paying it off each week, instead of once a month, it is not much different than a debit card because that cash leaves my account not long after I charge something and I get points. Every 2500 points pays $50 in principal off my mortgage, so using my card helps reduce my mortgage debt.

[Live2Hunt]

True, but you will be paying more for some things than others who maintain a good credit score....

I disagree. I dont pay more for insurance or anything else. I believe I am actually a preferred customer for many companies I do business with. I have no credit cards and cash in the bank.

If they pull my credit score and laugh then I refer them to my bank accounts and ask them again... works every time. The pinheads that just pull FICO do not get my business.

As far as facing an emergency that requires more money than I have. I use insurance to cover those gaps; job loss, medical, long term disability...

I do believe that credit is like a drug, you either kick it completely and move on or you may fall off the wagon again and again...

Best of luck...

[Mike D]

Just because you have credit cards, doesnt mean you have to be far in debt. If you pay them off at the end of the month, you are essetially getting 30 days "dating" on your cash. Credit cards make life easier, you just have to develop the discipline to know what you can afford. I dont worry about using them to buy things i want as i buy a lot off the internet. I just have to be sure to pay them off at the end of the month and know when to say when. Woody

Visa check cards work just as well as credit cards for online purchases.

I buy everything on a credit card. I pay it off in full every Friday. By paying it off each week, instead of once a month, it is not much different than a debit card because that cash leaves my account not long after I charge something and I get points. Every 2500 points pays $50 in principal off my mortgage, so using my card helps reduce my mortgage debt.

See below -

Now let's talk about the rebates. If you were using a credit card at 5%, you would have had to have spent $80,000 to get $4,000 rebates. You do not build wealth with credit cards. Use common sense. When you play with a multi-billion dollar industry and you think you're going to win at their game, you are naive. You cannot beat the credit card companies.

Obviously we are all adults here and capable of making our own decisions but there is no way you are getting free money by using points. The credit card companies are not in business to give away money.

[Throwin Darts]

Obviously we are all adults here and capable of making our own decisions but there is no way you are getting free money by using points. The credit card companies are not in business to give away money.

i don't pay an annual fee on my card and i have never paid a dime in interest on a credit card in my life. hard to argue that it isn't free.

the credit card company is making its money from the fee it is paid from the retailers where i use my card.

so it doesn't cost me anything and i keep getting my free principal reduction.

[Tommyh]

it is all my doing for letting it happen. Thank's again.

Nah.

Marriage is a team sport and both parties are involved in both the managing and mismanaging . just learn from the mistakes and move forward.

[samsdad]

Gotta agree with darts. I use my card acrue the points and pay off every month. If i can get discounts paying cash, then I will. I have had numerous trips, hotels, etc completely paid for with my points that I would have had to pay CASH for so i recieved free CASH. The card companies make money of the idiots who DON"T pay off each month. I understand Dave Ramseys philosophy, basically he thinks most people are not responsible enough to pay off every month, and he is right. The credit card companies have become rich because of stupid ireesponsible people. You won;t go broke underestimating the intelligence of the American people. Or as P.T barnum used to say "suckers; there's one born every minute"

[BrianL]

I've earned over $6,381.00 on my GM card, and $5622.04 has already been cashed in. I haven't carried a balance over or paid interest in over 10 years on this card. Credit card aren't evil, most people don't have the self control to use them properly. If you eat too much you'll get fat, if you spend too much you'll be broke.

[Live2Hunt]

The credit card companies have become rich because of stupid ireesponsible people. You won;t go broke underestimating the intelligence of the American people. Or as P.T barnum used to say "suckers; there's one born every minute"

I cant believe I am actually saying this, but what samsdad said...

[kfd82]

The question I have is this:

Those of you who "pay off the balance every month" Why do you have a credit card? If you can afford to pay it off without fail every month, why not just pay cash as you go?

You could use your visa/MC Debit card for any online buys ect...