Give yourself a raise, you deservie it

we0ne · Post by **we0ne** » Thu Jan 22, 2009 9:55 am

What if you only spent what you earned for 2 months. No credit card purchases...Try it...You might just like it.

In Debt We Trust - Documentary

http://ca.youtube.com/watch?v=G5QRxPnj85khttp://ca

Maxed Out - Documentary

http://ca.youtube.com/watch?v=YiOVNWoWTAU

Barbie · Post by **Barbie** » Thu Jan 22, 2009 11:19 am

I have always had to live at my means- Never had a CC in my life... I use to have a career where I MADE a LOT of Money- Now that I have a job where I make very Little Money Shopping is TOTALLY out of the question. (goood thing I have Plenty of JUNK already)
Even when I DID make a lot of money IF I couldn't pay Cash FOR IT then I couldn't afford IT

I was kinda surprised to learn how many Americans - Are living WAY beyond
their means. In fact they say that a lot of familys don't even make enough money to cover THEIR bills sooooooo they use their CC for food money!! But they have a Boat and an extra car and the kids go to private school... Their keeping up with THE JONE'S next door, while quietly Drowing in Debt!!

I think a lot of people will be selling that extra car, Jet ski, Boat, growing a garden, turning down that heater & AC, hanging your clothes to dry, riding a bike, getting use to your wardrobe, and just getting a fricking GRIP in general -

I have been Preaching IT to my friends for a while -

STOP LIVING BEYOND YOUR MEANS!!!

Post by **Elderberry** » Thu Jan 22, 2009 12:14 pm

Yup, living within one's means is a good thing. Most of the people I know that have money (i.e. a positive balance sheet) buy very little on credit and live rather modest life-styles. It's extremely easy to 'look' like you have money; it's another thing to actually have it.

JK

Thecatman · Post by **Thecatman** » Thu Jan 22, 2009 9:41 pm

We always have something left over between checks. Its gonna get harder if our honorable Governor "NO NEW TAXES" Gibbons gets his wish and cuts state workers saleries by 6%. Our wages and COLA are already frozen and our step increaces are next. We are probably gonna have to start shelling out 75% for our insurance. That all sounds like a tax increase for a slect few. I'll take it over a lay-off though.

we0ne · Post by **we0ne** » Thu Jan 22, 2009 9:46 pm

What does COLA stand for?

Thecatman · Post by **Thecatman** » Thu Jan 22, 2009 9:48 pm

Cost Of Living Allowance.

Post by **Elderberry** » Thu Jan 22, 2009 10:17 pm

Barbie wrote: Never had a CC in my life...

How do you check into a hotel or even make reservations at one?

JK

Ugly Dougly · Post by **Ugly Dougly** » Fri Jan 23, 2009 10:20 am

I have a credit card, but I'm not in debt.
A college education really helps!

theCryptofishist · Post by **theCryptofishist** » Fri Jan 23, 2009 10:51 am

Oh plenty of collage educated people carry credit card debt. In fact, with cc companies aggressively going after collage students in the past 20 + years, that's where a lot of them started aquiring it.

Perhaps those of us lucky enough not to be living beyond our means should have a little compassion for those trapped by memes propagated in commercials and other places about how shopping is the road to happiness.

Post by **Sham** » Fri Jan 23, 2009 11:08 am

A great book on this subject and a very interesting read is: The Millionaire Next Door, by Thomas J. Stanley.
It talks about wealth and how most truly rich people live below their means and the people who look rich (suits, cars, jewlery) are really in debt up to their eyeballs with every credit card maxed out.
If you find cash really tight, I would recommend this book and you will find that this really helps put things into perspective.

we0ne · Post by **we0ne** » Fri Jan 23, 2009 12:02 pm

Ugly Dougly wrote:I have a credit card, but I'm not in debt.
A college education really helps!

Crypto is correct. In the past 15-20 years, the average college/university student carries approxiamtely $9,000 in credit card debt. These are people who most of which aren't working, or working very little. The average credit card in the US holds an interest rate of 33.3%. As well, the average number of credit cards college students own is 8! That is astonishing. Give the documentaries a watch they are very informative.

oneeyeddick · Post by **oneeyeddick** » Fri Jan 23, 2009 5:36 pm

we0ne wrote: The average credit card in the US holds an interest rate of 33.3%.

Where did you come up with that high of an average from ?

we0ne · Post by **we0ne** » Fri Jan 23, 2009 6:00 pm

oneeyeddick wrote:
we0ne wrote: The average credit card in the US holds an interest rate of 33.3%.

Where did you come up with that high of an average from ?

That was an average given in one of the 2 documentaries. I believe by a consumer credit watch dog featured in the film. Both of these films are a few years old and after doing some very quick digging on the net, I see several US cards being offered at 18.9% - 12.5%. So, that stat could be old or perhaps that may be the actual interest rate at the time for people with bad credit ratings. An offer may be for 10%, but a person may end up with a higher rate based on their rating. I'm sure how they calculated it.

Barbie · Post by **Barbie** » Fri Jan 23, 2009 8:02 pm

I don't check into hotels unless someone else is Paying LOL

Yea there is A Lot of things I can't do with out a CC- These days I can't even have a drink on the plane with out one !!!

I have never had any credit- NO credit is worst than having BAD Credit- couldn't verfiy income in my early days, and Now bcause I've never had credit they won't give me any!! OH well I don't need NO sticking Credit Card any way!!

Post by **Sham** » Fri Jan 23, 2009 8:15 pm

There are all sorts of ways to handle the "no credit card" situation. You really need a credit card in this world we now live in. You can get a prepaid credit card with a set amount on it at the time of purchase. A bank can give you a tiny line of credit and by using it and paying every month--on time, they will increase the amount over time. It's important to actually use the card often, even for small purchases.
You can use a debit card associated with your checking account, like a credit card since it has a credit card logo on it.
Taking small auto loans or other types of loans will build your credit standing.