Thank You Obama!

shel90 said:
I got myself in a huge mess after my ex hubby left me..used credit cards to support myself through grad school. Yea, it was worth it but the same time, it created this bad financial situation I am in now. I wasnt born with a silver spoon like some people are. Had to work my ass off for anything I wanted. Oh well.
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No wonder. You're not only one person. It happened to everyone with 100k to 300k over on debt for expensive cars, bigger house, and shopaholic, You can imagine the celebrity's crib on MTV spend on debt to show off what is the mansion, fancy cars and everything look like. That is :crazy:
 
shel90 said:
I wish my parents had taught me the evils of credit cards. I had no understanding of them so when I got my first one at 20 years old with a balance of $5,000, I went crazy buying all kinds of stuff that I didnt need. It took me like 10 years to really understand the implications of getting oneself deep in credit card debt. My parents really never taught me about real life..I had to learn the hard way. Right now I am teaching my daughter all the pros and cons of real life.
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My mom taught me how to use debit card instead credit card. I had bad credit when I was teenager. I spent too much on clothes, and stuff that I didn't need it. I learned my lesson made mistake. Now I have to handle with budget and do organize on bills, balance, statements on my macbook. I don't really like to write on my checkbook's balance because it's sloppy. I like the excel and cashbox easy to edit the error.

I had spend on 50 inch TV flat screen cost me 1,000 worth. That is why I am paying it off until 2011. That is good deal. I don't use credit card that much.
 
shel90 said:
I wish my parents had taught me the evils of credit cards. I had no understanding of them so when I got my first one at 20 years old with a balance of $5,000, I went crazy buying all kinds of stuff that I didnt need. It took me like 10 years to really understand the implications of getting oneself deep in credit card debt. My parents really never taught me about real life..I had to learn the hard way. Right now I am teaching my daughter all the pros and cons of real life.
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that's why colleges are now offering free course/class on credit card.
 
Yea, the interest rates for the credit cards make no sense....why charge them so high when we're trying to pay them off. I think in their views, they raise the interest rates because the lower interests will make people use the credit card often...so they raise the raise to prevent from that happening, I think.
 
sequoias said:
Yea, the interest rates for the credit cards make no sense....why charge them so high when we're trying to pay them off. I think in their views, they raise the interest rates because the lower interests will make people use the credit card often...so they raise the raise to prevent from that happening, I think.
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Nah, they are just greedy. I think thats why the law was passed.
 
Pinky said:
No wonder. You're not only one person. It happened to everyone with 100k to 300k over on debt for expensive cars, bigger house, and shopaholic, You can imagine the celebrity's crib on MTV spend on debt to show off what is the mansion, fancy cars and everything look like. That is :crazy:
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Be celebrities make alot of money, just like musicians.
 
Jiro said:
that's why colleges are now offering free course/class on credit card.
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so is some high school but not always, I think that credit card lesson should be teach at high school.
 
Pinky said:
My mom taught me how to use debit card instead credit card. I had bad credit when I was teenager. I spent too much on clothes, and stuff that I didn't need it. I learned my lesson made mistake. Now I have to handle with budget and do organize on bills, balance, statements on my macbook. I don't really like to write on my checkbook's balance because it's sloppy. I like the excel and cashbox easy to edit the error.

I had spend on 50 inch TV flat screen cost me 1,000 worth. That is why I am paying it off until 2011. That is good deal. I don't use credit card that much.
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I don't write the checkbook but just rather to check the balance on bank website, buy with debit card will be appear in few minutes since credit card take up to 72 hours.
 
sequoias said:
Yea, the interest rates for the credit cards make no sense....why charge them so high when we're trying to pay them off. I think in their views, they raise the interest rates because the lower interests will make people use the credit card often...so they raise the raise to prevent from that happening, I think.
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the interest rate only goes high if you miss the payment - I believe around 25-40%. INSANE!!!
 
DGirl101 said:
Nah, they are just greedy. I think thats why the law was passed.
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sequoias said:
Perhaps so. Yeah, they're just greedy in my views, anyhow.
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lol they're not greedy but they're merciless. The credit card companies are not forcing you use their cards. It's you who are accruing the debts with credit card and it's your responsibility to make payment on time.

don't blame them for your mess. blame yourself for putting yourself in a bad financial situation and for not educating yourself about credit card's tricky fineprint. don't take it wrong but it's how I see it. That's why some people don't use credit card EVER and they stick with debit card.
 
Jiro said:
lol they're not greedy but they're merciless. The credit card companies are not forcing you use their cards. It's you who are accruing the debts with credit card and it's your responsibility to make payment on time.

don't blame them for your mess. blame yourself for putting yourself in a bad financial situation and for not educating yourself about credit card's tricky fineprint. don't take it wrong but it's how I see it. That's why some people don't use credit card EVER and they stick with debit card.
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It is just too bad that some people dont make enough to pay for the basics and end up using credit cards to pay for them. That was what happened to me after my ex hubby left me.
 
Yeah, I heard about that. Kudos to Obama! I prefer debit over credit for the best choice.
 
Yep! I did the same thing as you do, too. Most of my family never trust credit cards for an obvious reason.
 
souggy said:
Same here. 4 months worth of rent and food on one debit card. Got two or three other ones for balancing and budgeting purposes.
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That's my 5 year plan...to have no credit card balances. I hope nothing goes wrong and sets me back again.
 
I have no credit cards, I got rid of them long time ago, too much hassle. ;)
 
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