CC debt, the good, the bad, the ugly and finally getting out

[Opsimath]

I m not clever enough to outsmart my banker.

I believe that by not using credit you have in fact already outsmarted your banker.

 

[F312]

What's in your wallet?

 

[Brad Little]

-What's a bot? (I gather some automatic malevolent web-stuff, but I am a dinosaur..)
-there used to be a sign in nearly every store when I was a kid, saying"Crédit est mort pendu" (credit died hanged )My parents always told me: "if you can't pay cash, don't buy !" Lots of folks around buying new Audis and what-not on credit, and then , the [****] hits the fan...I'm afraid I'd be quickly addicted if I pushed the "easy money" button. I m not clever enough to outsmart my banker.

When I was a teacher at a DCF residential, resident staff were often forced to a double and sometimes even a triple shift and accumulated tons of OT money. When the state hit hard times OT was cut and many were forced to sell their Beamers and such to make their mortgages. I asked one friend how he was doing, and with a smile he said every penny he ever earned in OT went into his savings account.

 

[Brad Little]

I have never paid anything but cash for a guitar. My wife would never approve of buying one on credit.

When I was a traveling consultant, I saved my $50/day per diem by eating a big free breakfast at the hotel, no real lunch, and dinner at Subway. When you are on the road 15 days a month, it adds up fast.

Every guilt-free penny of that money went into guitars. It was the first truly disposable income of my life, in my mid ‘50’s.

Only once have I used a CC to purchase a guitar. When I spotted my Artist Award at Archtop.com I had just gotten an offer for 12 months no interest on one with no balance. Not only did I pay it in time, I also got 1% cash back on the purchase, so in effect a discount!