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PrintableEmeraldSkies said: RakelRosalita729 said: yep; a litle under 10,000 in bills and loans I can't pay
  and I thought I was bad oweing $3,000. Hey at least we don't owe as much as Pam Anderson.  10k isn't bad imo. Back when I wasn't making any money I had over 20k in credit card debt (grad school stuff that my loan didn't cover, expensive major) - I managed to pay it all off. It took a few years but if by taking the right steps it's beatable... I swore from that point on that I'd only use credit in a emergency, & then came an emergency last year  I'll beat it again though if all goes right    I never met you, but I LOVE you & I will forever!! Thank you for being YOU - my little Princey, the best to EVER do it | |
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If There Was No Debt, There'd Be No Money.. Keenmeister |
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andykeen said: If There Was No Debt, There'd Be No Money..
You actually have it backwards. The presence of money in an economy facilitates the ability to have debt. Let me explain. There are 4 functions of money. First is the Unit of Account. This sets a standard system of prices. In a barter of economy, there is no unit of account. With barter, the price of a good depends on what it is that is being traded. A sheet of plywood would cost 30 loaves or bread, of 10 bottles of wine, or 5 books. A common unit of exchange, such as the dollar, tremendously simplifies the exchange process. The second function of money is that it is a medium of exchange. If I give someone a dollar bill for something, they know that they can use that dollar bill for what they want. The Unit of Account and Medium of Exchange functions allow 2 more functions, and both are essentially time travel. Money has a Store of Value. In an stable economy with a stable money system, a person can hold onto their money for a period of time and spend it later and it will still be useful. Essentially, this allows you to transfer your money from the present to the future. Finally, there is the Standard of Deferred Payment, or debt. Money allows this. If there is money, I can go to a car dealership and but a car with money I do not have. I can transfer future money to the present by agreeing to incur debt and pay for the car later. I abdicated the throne in Ithaca, but now I am...
Albany's Number 1 Prince Fan | |
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No
I have learnt you can't spend money you don't have. First put some pennies in your piggy bank and when you have enough pennies then you can buy that lollipop. And besides that, it's cheaper then having a debt, you can buy more for your pennies. | |
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Harlepolis said: No,,,and I'm fighting like hell to keep it that way.
yeah, that sums it up for me. Except my only debt is my mortgage. "When Michael Jackson is just singing and dancing, you just think this is an astonishing talent. And he has had this astounding talent all his life, but we want him to be floored as well. We really don´t like the idea that he could have it all." | |
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Proud Memaw to Seyhan Olivia Christine ,Zoey Cirilo Jaylee & Ellie Abigail Lillian  | |
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Just mortgage on house- Thank god. All 4 fun and fun 4 all | |
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YES. A little TOO much, but still somewhat manageable. We're paying it off. By St. Boogar and all the saints at the backside door of Purgatory! | |
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Very much so. Andy is a four letter word. | |
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LeCram said: No
I have learnt you can't spend money you don't have. First put some pennies in your piggy bank and when you have enough pennies then you can buy that lollipop. And besides that, it's cheaper then having a debt, you can buy more for your pennies. Cute advice, but what do you do when what you need to pay for is water, heat, and rent? IMO it's a very classist assumption that credit is only used for toys. "A Watcher scoffs at gravity!" | |
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meow85 said: LeCram said: No
I have learnt you can't spend money you don't have. First put some pennies in your piggy bank and when you have enough pennies then you can buy that lollipop. And besides that, it's cheaper then having a debt, you can buy more for your pennies. Cute advice, but what do you do when what you need to pay for is water, heat, and rent? IMO it's a very classist assumption that credit is only used for toys. I've used my credit card for paying the electric and the phone bill once or twice, and I often use it for groceries. However, anyone who knows anything about finances will tell you that doing so is a sign of bad finances. Which is true. By St. Boogar and all the saints at the backside door of Purgatory! | |
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No. | |
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yes I am. Don't sue me. | |
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PurpleJedi said: meow85 said: Cute advice, but what do you do when what you need to pay for is water, heat, and rent? IMO it's a very classist assumption that credit is only used for toys. I've used my credit card for paying the electric and the phone bill once or twice, and I often use it for groceries. However, anyone who knows anything about finances will tell you that doing so is a sign of bad finances. Which is true. It is but I get her point. If you're having a tough year & you've had to put necessities on credit it's just what needs to happen (her response was to the glib comment that if you don't have cash, you don't need it). I work freelance & when there's a lull in the schedule I have to reserve my cash, break out the cards. That's what got me back in debt in the last 2 years Sometimes you just gotta... I never met you, but I LOVE you & I will forever!! Thank you for being YOU - my little Princey, the best to EVER do it | |
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CalhounSq said: EmeraldSkies said: and I thought I was bad oweing $3,000. Hey at least we don't owe as much as Pam Anderson. 10k isn't bad imo. Back when I wasn't making any money I had over 20k in credit card debt (grad school stuff that my loan didn't cover, expensive major) - I managed to pay it all off. It took a few years but if by taking the right steps it's beatable... I swore from that point on that I'd only use credit in a emergency, & then came an emergency last year I'll beat it again though if all goes right Yeah,I know it could be alot worse. Hope things get better for you.  Music washes away from the soul the dust of everyday life. ~Berthold Auerbach | |
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I remember when I had to pay of the last bits on my student loan and my mortgage. I felt a sense of freedom, like a weight was lifted from my shoulders. | |
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meow85 said: LeCram said: No
I have learnt you can't spend money you don't have. First put some pennies in your piggy bank and when you have enough pennies then you can buy that lollipop. And besides that, it's cheaper then having a debt, you can buy more for your pennies. Cute advice, but what do you do when what you need to pay for is water, heat, and rent? IMO it's a very classist assumption that credit is only used for toys. I always pay those 1st and what's left i use for consumption and a part for saving for worse times. A few years ago i became ill and lost my job so the money i had was around social minimum. I had a choice having a debt or not. I just looked what's really important in life and what not. i don't need a car, because i can use my bicycle. I don't need an expensive phonebill. if i want to speak to some1 i will go to that person or write a letter. I didn't need internet. important internetstuff i could do at the library I don't need the latest fashion to keep warm in winter. a 2nd hand store will do fine. I got a nice blanket, so my heatbill became lower. and when i felt too cold i took a hot shower or ran a few times around my table. I collected water from rain to flush my toilet. I don't need a long shower every day. i use low usage light bulbs. I don't need everyday a big chunk of meat, actually for buying food i waited to the end of the day. At least some supermarkets here have some bargains of food which he can't sell the next day. And still that's good food. but more than half of the normal price. And i live nearby a big forest. There is a lot of nutritious stuff to find there for free. And there are many more examples how to do more with less money. Even with social minimum income, i am able to save some money for changing broken stuff like a new fridge or TV. In that period I bought the total collection of my favorite writer for less than 1/10 of normal retail price, and every time i read in those books i feel fine
I am aware that there can be situations when you almost don't have a choice and go into debt. But basically look what's important in life and what not. . [Edited 9/27/09 22:09pm] | |
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LeCram said: meow85 said: Cute advice, but what do you do when what you need to pay for is water, heat, and rent? IMO it's a very classist assumption that credit is only used for toys. I always pay those 1st and what's left i use for consumption and a part for saving for worse times. A few years ago i became ill and lost my job so the money i had was around social minimum. I had a choice having a debt or not. I just looked what's really important in life and what not. i don't need a car, because i can use my bicycle. I don't need an expensive phonebill. if i want to speak to some1 i will go to that person or write a letter. I didn't need internet. important internetstuff i could do at the library I don't need the latest fashion to keep warm in winter. a 2nd hand store will do fine. I got a nice blanket, so my heatbill became lower. and when i felt too cold i took a hot shower or ran a few times around my table. I collected water from rain to flush my toilet. I don't need a long shower every day. i use low usage light bulbs. I don't need everyday a big chunk of meat, actually for buying food i waited to the end of the day. At least some supermarkets here have some bargains of food which he can't sell the next day. And still that's good food. but more than half of the normal price. And i live nearby a big forest. There is a lot of nutritious stuff to find there for free. And there are many more examples how to do more with less money. Even with social minimum income, i am able to save some money for changing broken stuff like a new fridge or TV. In that period I bought the total collection of my favorite writer for less than 1/10 of normal retail price, and every time i read in those books i feel fine
I am aware that there can be situations when you almost don't have a choice and go into debt. But basically look what's important in life and what not. I appreciate the frugality (I'm the same, why spend a lot of money on a new thing when a second hand thing is just as good!) It becomes difficult however, when you have children and it's not just you that has to do without, so to speak. (btw - I have no problem saying "no" to my kids when they want something  they are well fed and most of their clothes don't have holes) | |
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PurpleJedi said: meow85 said: Cute advice, but what do you do when what you need to pay for is water, heat, and rent? IMO it's a very classist assumption that credit is only used for toys. I've used my credit card for paying the electric and the phone bill once or twice, and I often use it for groceries. However, anyone who knows anything about finances will tell you that doing so is a sign of bad finances. Which is true. Not going to argue that. The situation was largely out of my control, unfortunately, but I've got a better job now so the second I start getting paid as much as I can spare is going toward paying off my debt.  "A Watcher scoffs at gravity!" | |
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CalhounSq said: PurpleJedi said: I've used my credit card for paying the electric and the phone bill once or twice, and I often use it for groceries. However, anyone who knows anything about finances will tell you that doing so is a sign of bad finances. Which is true. It is but I get her point. If you're having a tough year & you've had to put necessities on credit it's just what needs to happen (her response was to the glib comment that if you don't have cash, you don't need it). I work freelance & when there's a lull in the schedule I have to reserve my cash, break out the cards. That's what got me back in debt in the last 2 years Sometimes you just gotta...IMO life necessities like shelter and food should be free, but since that's not the world we live in something has got to pay for that crap. "A Watcher scoffs at gravity!" | |
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LeCram said: meow85 said: Cute advice, but what do you do when what you need to pay for is water, heat, and rent? IMO it's a very classist assumption that credit is only used for toys. I always pay those 1st and what's left i use for consumption and a part for saving for worse times. A few years ago i became ill and lost my job so the money i had was around social minimum. I had a choice having a debt or not. I just looked what's really important in life and what not. i don't need a car, because i can use my bicycle. I don't need an expensive phonebill. if i want to speak to some1 i will go to that person or write a letter. I didn't need internet. important internetstuff i could do at the library I don't need the latest fashion to keep warm in winter. a 2nd hand store will do fine. I got a nice blanket, so my heatbill became lower. and when i felt too cold i took a hot shower or ran a few times around my table. I collected water from rain to flush my toilet. I don't need a long shower every day. i use low usage light bulbs. I don't need everyday a big chunk of meat, actually for buying food i waited to the end of the day. At least some supermarkets here have some bargains of food which he can't sell the next day. And still that's good food. but more than half of the normal price. And i live nearby a big forest. There is a lot of nutritious stuff to find there for free. And there are many more examples how to do more with less money. Even with social minimum income, i am able to save some money for changing broken stuff like a new fridge or TV. In that period I bought the total collection of my favorite writer for less than 1/10 of normal retail price, and every time i read in those books i feel fine
I am aware that there can be situations when you almost don't have a choice and go into debt. But basically look what's important in life and what not. . [Edited 9/27/09 22:09pm] I don't drive. I don't have cable. I don't own any clothing that's new. I don't have heat. I don't eat much meat. My phone is held together with duct tape, And internet is the result of a collective effort between 5 roommates. Given all that, this past year I've still had to use credit for rent, food, and hydro. "A Watcher scoffs at gravity!" | |
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I end up using my credit card once every few years for something I don't really need to put on it just to get the replacement.  I basically never use a credit card and never have.
I've been well into my overdraft for months at a time in the past though, but was quite lucky for a while after quitting my studies that I got to keep it interest free for 3 years. | |
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meow85 said: I don't drive. I don't have cable. I don't own any clothing that's new. I don't have heat. I don't eat much meat. My phone is held together with duct tape, And internet is the result of a collective effort between 5 roommates. Given all that, this past year I've still had to use credit for rent, food, and hydro. Another tip to reduce some costs. want comfy and have every day food? Let's team up with let's say 6 close friends or family or other people in your area. each and every day visit another and one day you are a host yourself. Spend time together and cook for each other and have some fun as well. With this kind of scenario you should reduce costs of food, heating and water as well, and still are comfy and a filled tummy everyday. It may not be perfect because of obligations you have every day for a longer period, but it might help to overcome the difficult times. | |
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yes. just the mortgage thankfully. | |
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No. While I was laid off at the beginning of the decade, my credit card balances ballooned up to $5,000. It has been a long slow process, but now I can pay off the balances in full each month.
And as a reward for paying off my credit cards each month, my credit limit was lowered.  | |
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It's hard for me to believe this many people don't have any debt.
We owe about $120,000 on my house, which doesn't bother me because it appraises for over 200,000. We owe about $8,000 on our car. If you're not doing the fucking, then you're taking one. | |
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No. | |
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CalhounSq said: PurpleJedi said: I've used my credit card for paying the electric and the phone bill once or twice, and I often use it for groceries. However, anyone who knows anything about finances will tell you that doing so is a sign of bad finances. Which is true. It is but I get her point. If you're having a tough year & you've had to put necessities on credit it's just what needs to happen (her response was to the glib comment that if you don't have cash, you don't need it). I work freelance & when there's a lull in the schedule I have to reserve my cash, break out the cards. That's what got me back in debt in the last 2 years Sometimes you just gotta...I hear ya. My situation was that we bought a house the year before my company started failing, so they cut all the overtime that I depended on. Then of course the car needs a repair, the hot water heater goes, etc., etc., and before you know it, we were living off of credit cards and most of my paycheck was going into paying down the open balances just to buy groceries & clothes & stuff. It's a horrible, horrible cycle. We wound up in bankruptcy. By St. Boogar and all the saints at the backside door of Purgatory! | |
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PurpleJedi said: CalhounSq said: It is but I get her point. If you're having a tough year & you've had to put necessities on credit it's just what needs to happen (her response was to the glib comment that if you don't have cash, you don't need it). I work freelance & when there's a lull in the schedule I have to reserve my cash, break out the cards. That's what got me back in debt in the last 2 years Sometimes you just gotta...I hear ya. My situation was that we bought a house the year before my company started failing, so they cut all the overtime that I depended on. Then of course the car needs a repair, the hot water heater goes, etc., etc., and before you know it, we were living off of credit cards and most of my paycheck was going into paying down the open balances just to buy groceries & clothes & stuff. It's a horrible, horrible cycle. We wound up in bankruptcy. It is a horrible cycle, hopefully one we can all break & get over  I never met you, but I LOVE you & I will forever!! Thank you for being YOU - my little Princey, the best to EVER do it | |
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