Resist the temptation to use charge cards!!!!

Footsteps

Well-Known Member
People are starting to increase their credit card usage due to the difficulties paying for things during this inflation. This inflation will be here a long time and probably be accompanied by a recession.
It is not for me to tell you what to do, but I strongly encourage everyone to avoid the quicksand of debt, especially as it relates to credit cards. If you are increasingly confronted with this temptation, I would suggest that you reorganize your financial habits even if it means not buying that Lamborghini like TT drives.
I could preach all day on fiscal choices. If I thought this administration was going to do anything other than make things worse, I probably wouldn’t make this post.
You need to avoid the ineptitude that this administration bathes in. Commerce is shot thanks to the Kindergarten Kabinet. You Moms who know that your baby needs a very specific type of baby formula better not wear a MAGA hat to the grocery store. Security will watch you since you are Joe’s pick for “most dangerous domestic terrorist”. It’s your fault.
I’ll bet Jill hoardes baby formula to keep Joe from crying all night.
 

Tall Timbers

Imperfect but forgiven
I would suggest that you reorganize your financial habits even if it means not buying that Lamborghini like TT drives.

Every time my soccer playing son and I were in California for soccer tournaments, he'd have me take him to a Lamborghini dealership. He seemed to really like the vehicles. I told him that I saw my F250 4X4 Crewcab the way he saw the Lamborghini... as my dream vehicle. So, yes, My Lamborghini is my F250! :hehee

It is not for me to tell you what to do, but I strongly encourage everyone to avoid the quicksand of debt, especially as it relates to credit cards.

I wholeheartedly agree with Footsteps. Avoid debt, period. If you have to start visiting the local food pantry and 2nd hand stores, that's much better than going into debt.

The rich rules over the poor, And the borrower becomes the lender’s slave. Proverbs 22:7
 

Tall Timbers

Imperfect but forgiven
There is nothing wrong with using a credit card. Almost everything we purchase it with our credit card. However, we pay the entire balance off every month.

99.9% of my payments are via credit card. But I pay the bill off in full each month after taking advantage of the float, plus I earn 2% or more cash back from all my purchases. I would love for that to be 100% but every once in a while I have to use cash if I want to make the purchase. Case in point. I was at a pizza joint in Eugene. I was with a large table full of family. I offered to buy the meal. When I went up to order and pay the sign said cash only. If I'd been alone I'd of left and gone somewhere else but I couldn't do that with a dozen hungry mouths expecting a free meal after my offer. I had to borrow $20 from a brother in law in order to have enough but I did manage to pay in cash that evening. That'll teach me to offer to buy the meal when I'm in Liberalville OR.

The majority of people though don't pay off their credit card bills each month and end up with quite a bit of interest added to their debt. Those should avoid plastic entirely until they can develop the discipline to use them to their true advantage and not as a tool of enslavement (of themselves).
 

alisani

Well-Known Member
We don't use credit cards don't want the debt or the interest rates. These people are loan sharks.
Same here, don't use them. Cash for our cars, etc. Lean times but nobody owned us. I was raised with a "make do and mend" mindset and my gram hammered home the importance of tithing. "Give even though it hurts and by the time it doesn't hurt anymore, it'll be a habit", she said. We've had our share of storms and challenges but I tell ya, God has provided for us through them all. Like my gram said, you can't outgive God.
 

Lastcall

Well-Known Member
99.9% of my payments are via credit card. But I pay the bill off in full each month after taking advantage of the float, plus I earn 2% or more cash back from all my purchases. I would love for that to be 100% but every once in a while I have to use cash if I want to make the purchase. Case in point. I was at a pizza joint in Eugene. I was with a large table full of family. I offered to buy the meal. When I went up to order and pay the sign said cash only. If I'd been alone I'd of left and gone somewhere else but I couldn't do that with a dozen hungry mouths expecting a free meal after my offer. I had to borrow $20 from a brother in law in order to have enough but I did manage to pay in cash that evening. That'll teach me to offer to buy the meal when I'm in Liberalville OR.

The majority of people though don't pay off their credit card bills each month and end up with quite a bit of interest added to their debt. Those should avoid plastic entirely until they can develop the discipline to use them to their true advantage and not as a tool of enslavement (of themselves).
We also get cash back every year from our credit card.
 

MapleLeaf

Well-Known Member
We spent the past few years paying off a credit card debt that got away from us (once it starts it builds and you get lost in it) so we're not about to do it again. Right now, if we ever need to order anything online we use those gift credit cards so the money was already paid for up-front. The downside is the leftover $1 or $2 that you never know what to do with. I sometimes find cheap downloadable resources for homeschool or get myself a coffee from a coffee-shop. Recently, I used our pile of $2 cards to get stuff for iTunes. I hadn't bought anything since 2019 and THAT was a kids' praise album. haha
 

Tall Timbers

Imperfect but forgiven
Don't go all Biden on me and deflect. :calvinPer capita, is per capita.

Yes, Mr. Omniscient. Per capita is per capita. I'll admit, even though perhaps I have no reason to, I feel a lot safer walking around downtown Fairbanks than when I'm walking around downtown Eugene. But let's not let my feelings get in the way of per capita.
 
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Lastcall

Well-Known Member
People are starting to increase their credit card usage due to the difficulties paying for things during this inflation. This inflation will be here a long time and probably be accompanied by a recession.
It is not for me to tell you what to do, but I strongly encourage everyone to avoid the quicksand of debt, especially as it relates to credit cards. If you are increasingly confronted with this temptation, I would suggest that you reorganize your financial habits even if it means not buying that Lamborghini like TT drives.
I could preach all day on fiscal choices. If I thought this administration was going to do anything other than make things worse, I probably wouldn’t make this post.
You need to avoid the ineptitude that this administration bathes in. Commerce is shot thanks to the Kindergarten Kabinet. You Moms who know that your baby needs a very specific type of baby formula better not wear a MAGA hat to the grocery store. Security will watch you since you are Joe’s pick for “most dangerous domestic terrorist”. It’s your fault.
I’ll bet Jill hoardes baby formula to keep Joe from crying all night.
When we were married 22 years ago, my wife was a single parent, and she had thousands in debt from numerous credit cards. I had her take out a consolidation loan, and they paid off all her credit cards, and her new total monthly payment was much lower. However, consolidation loans for most people make their debt even a bigger problem. Why? They dont cut up all the credit cards that had a huge balance, and within a year, their debt is back, plus now they still have the giant consolidation loan to pay back - this is exactly what they want you to do in order to make more money for everyone but you. However, my wife cut up all her cards and within one year we paid off her consolidation loan, and since then, we have not carried a balance from one month to the next with our one card.

Run away debt can seem impossible to get control of, especially when someone can barely afford the monthly minimum payment for each card.
 

Footsteps

Well-Known Member
When we were married 22 years ago, my wife was a single parent, and she had thousands in debt from numerous credit cards. I had her take out a consolidation loan, and they paid off all her credit cards, and her new total monthly payment was much lower. However, consolidation loans for most people make their debt even a bigger problem. Why? They dont cut up all the credit cards that had a huge balance, and within a year, their debt is back, plus now they still have the giant consolidation loan to pay back - this is exactly what they want you to do in order to make more money for everyone but you. However, my wife cut up all her cards and within one year we paid off her consolidation loan, and since then, we have not carried a balance from one month to the next with our one card.

Run away debt can seem impossible to get control of, especially when someone can barely afford the monthly minimum payment for each card.
That is the usual problem with consolidation loans. If there is no
sea change in purchasing habits like Don’t Buy it if you Can’t Pay Cash - then the tendency to whip out that credit card for that item you can’t live without remains. I saw many of these cases while at HUD in which the couple facing foreclosure had as much credit usage after their consolidation loan as they did previously.
 

Footsteps

Well-Known Member
We did the Dave Ramsey method
I was going to recommend his book on finance. He started off with not even getting a CAR LOAN - almost unamerican! He would buy a used car with cash. He was more interested in financial stability than he was in driving a head turning car. His methods require a lot of attitude change but God’s way will work.
Do you know that most winners of a million dollar lottery wind up BROKE (and worse) in a year or two. It is worthwhile to read their stories. Without Godly methodology, NO AMOUNT OF MONEY WILL PROVIDE PROSPERITY OF ANY KIND.
 
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