How Has the Spending Affected You?

[tutall]

If you live within your means and save money for emergencies like you're supposed to, you don't need a credit card when emergencies or life happens.

I think this is great advice for individuals w/ high paying jobs who have good amts. of disposable income.

I'm not talking about credit card spending on pools, vacations, and junk like that but illness and emergency house repairs.

I disagree... people spend their money. It doesnt matter how much you make you still cannot spend more than you make. If you really cant save any money you are probably living outside of your means. At the bank i work at we will not lend anything over 41 percent of your income. NOTHING.... no credit cards, no auto loans, no mortgage.... nothing. If you cant live on the other 59 percent of your income you are living outside your means... doesnt really matter how much that is whether it be 200 a week or 150K per week If you are spending more than you are making at any point it is not a healthy situation. If you run into an issue where you cannot pay for something up front there are usually other options, such as financing through the healthcare place etc.... anything with a term and payment is much easier and you are better off using than an open ended line of credit where you can continue to run up charges when it is convenient....

I ran out and rung up a nice CC bill when i was 18 and spent 3 years of my life paying for a couple awesome weeks... since then i have a card thats limit is less than 1 paycheck so i cannot get myself into that situation again. If you take the chance and getting burned you probably will

[duwal]

not at all, in fact I've splurged more than any past years. Just got back from my Comic Con trip, February I bought a muscle car. Its been the best year financially for me

[dfr52]

I disagree... people spend their money. It doesnt matter how much you make you still cannot spend more than you make. If you really cant save any money you are probably living outside of your means. At the bank i work at we will not lend anything over 41 percent of your income. NOTHING.... no credit cards, no auto loans, no mortgage.... nothing. If you cant live on the other 59 percent of your income you are living outside your means... doesnt really matter how much that is whether it be 200 a week or 150K per week If you are spending more than you are making at any point it is not a healthy situation. If you run into an issue where you cannot pay for something up front there are usually other options, such as financing through the healthcare place etc.... anything with a term and payment is much easier and you are better off using than an open ended line of credit where you can continue to run up charges when it is convenient....

I ran out and rung up a nice CC bill when i was 18 and spent 3 years of my life paying for a couple awesome weeks... since then i have a card thats limit is less than 1 paycheck so i cannot get myself into that situation again. If you take the chance and getting burned you probably will

I agree people should save but many are living pay check to pay check just to scrape by and they are not living lavish life styles.

[OnePimpTiger]

If you live within your means and save money for emergencies like you're supposed to, you don't need a credit card when emergencies or life happens.

I think this is great advice for individuals w/ high paying jobs who have good amts. of disposable income.

I'm not talking about credit card spending on pools, vacations, and junk like that but illness and emergency house repairs.

That's exactly what I'm talking about as well...and add to pools, vacations, and junk like that not spending on cel phones, video game systems, high speed internet, a bigger, nicer house than necessary, expensive new clothes, a more expensive car than necessary, eating out regularly, etc, etc, etc.

[dfr52]

That's exactly what I'm talking about as well...and add to pools, vacations, and junk like that not spending on cel phones, video game systems, high speed internet, a bigger, nicer house than necessary, expensive new clothes, a more expensive car than necessary, eating out regularly, etc, etc, etc.

Things credit cards probably shouldn't be used for.

[tutall]

I agree people should save but many are living pay check to pay check just to scrape by and they are not living lavish life styles.

but how many of those people have 200 dollar cell phone contracts, 100 dollar cable bill, and other items that are maybe overspent on.... Im not saying dont go have fun.... just if you do and you are financing it with credit cards you cant really complain when your rates and payments go up when it says right in the disclosure it can happen

[TheTGB]

I disagree... people spend their money. It doesnt matter how much you make you still cannot spend more than you make. If you really cant save any money you are probably living outside of your means. At the bank i work at we will not lend anything over 41 percent of your income. NOTHING.... no credit cards, no auto loans, no mortgage.... nothing. If you cant live on the other 59 percent of your income you are living outside your means... doesnt really matter how much that is whether it be 200 a week or 150K per week If you are spending more than you are making at any point it is not a healthy situation. If you run into an issue where you cannot pay for something up front there are usually other options, such as financing through the healthcare place etc.... anything with a term and payment is much easier and you are better off using than an open ended line of credit where you can continue to run up charges when it is convenient....

I ran out and rung up a nice CC bill when i was 18 and spent 3 years of my life paying for a couple awesome weeks... since then i have a card thats limit is less than 1 paycheck so i cannot get myself into that situation again. If you take the chance and getting burned you probably will

Well I obviously didn't get my credit card from your company, lol. They gave me way too high of a limit based off of what I make currently. But it will be perfect in 6 months.

[dfr52]

but how many of those people have 200 dollar cell phone contracts, 100 dollar cable bill, and other items that are maybe overspent on.... Im not saying dont go have fun.... just if you do and you are financing it with credit cards you cant really complain when your rates and payments go up when it says right in the disclosure it can happen

I'm w/ you on those types of bills. $200 on cell phones and $100 on cable per month is over spending if you can't pay for it w/ your monthly income.

I 100% agree if a consumer takes credit card and racks up 5 grand of debt for "fun". and the rates get jacked up.

[OnePimpTiger]

Things credit cards probably shouldn't be used for.

Exactly, but they are...all the time. And these are the people that get in trouble with them. They say they'll just pay one bill or buy one thing...then it's two or three...then they get a little behind on the payment...then the bill starts ballooning...then they're way behind and have a huge bill and blame it on the CC company when if they'd just shown a little restraint and self control from the beginning, it never would have gotten to that point. Yeah, there are some people who have legitimate emergencies and have to use credit cards...it sucks, but it happens. But the majority aren't emergencies, it's just life happening as you put it and people having a really out of whack sense of what life actually is.

[dfr52]

Exactly, but they are...all the time. And these are the people that get in trouble with them. They say they'll just pay one bill or buy one thing...then it's two or three...then they get a little behind on the payment...then the bill starts ballooning...then they're way behind and have a huge bill and blame it on the CC company when if they'd just shown a little restraint and self control from the beginning, it never would have gotten to that point. Yeah, there are some people who have legitimate emergencies and have to use credit cards...it sucks, but it happens. But the majority aren't emergencies, it's just life happening as you put it and people having a really out of whack sense of what life actually is.

People do that but I just think CC need to be more careful about the amt they make available to protect themselves and limit over spending.