ThatDamnedPanda
Posts: 6060
Joined: 1/26/2009 Status: offline
|
quote:
ORIGINAL: FirmhandKY Debt is slavery. The only personal debt that someone should go into is on a house (and not over their head), and a car - but only if needed for work, and not a new one if they are tight financially. My general view is if you can't pay for it right then, right now, you shouldn't buy it. The only things that I owe, other than the electric bill and stuff like that, is an occasional credit card from when I take a trip, and don't want to carry a lot of cash, or when I need one to rent a car, or pay for a hotel. Then they are paid off absolutely as soon as possible. I've had two cards canceled because I "didn't keep enough on the balances". Absolutely. I've got a real simple rule of thumb - if I don't have the cash this month, I can't afford it this month. There are very rare times that I'll make an exception, but under no circumstances do I ever carry a balance on a credit card. Credit cards are for travel and emergencies. I don't have a lot of money, but I have absolutely zero debt, and I can't even imagine how anyone could sleep at night with $20,000 or $30,000 of credit card debt. It's incomprehensible to me. As far as I'm concerned, with very few exceptions anyone who regularly carries any credit card debt is living beyond their means, plain and simple.
_____________________________
Panda, panda, burning bright In the forest of the night What immortal hand or eye Made you all black and white and roly-poly like that?
|