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mommy2be716
LIF Adult
Member since 1/16 2921 total posts
Name:
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do you have any credit card debt?
this topic came up amongst a large group I was with today, and about 75% of the group said they had CC debt (some a few hundred, some a few thousand). I honestly don't even know how it came up because i kinda walked into the conversation, but now i'm curious because I can't wrap my head around the high interest 
The first one should say $1-1999, not 0 lol
Message edited 1/13/2019 5:52:23 PM.
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Posted 1/13/19 5:46 PM  |
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mommy2B3
2 boys 2 girls!!!!
Member since 7/08 3324 total posts
Name:
M
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Re: do you have any credit card debt?
I picked wrong, I chose $0-1999, but we have no credit card debt. We spend on our credit cards every month but pay it off every month, we never carry a balance.
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| Posted 1/13/19 5:48 PM |
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muffaboo
LIF Adult
Member since 12/10 3797 total posts
Name:
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Re: do you have any credit card debt?
I basically buy everything on my CCs, never have cash on me, but it's paid off every month. Fortunately I have never had to deal with CC debt. DH doesn't have any either.
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| Posted 1/13/19 6:05 PM |
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ChilisWife
God Bless America
Member since 5/05 3572 total posts
Name:
A.K.
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Re: do you have any credit card debt?
We never, ever used to have credit card debt for years and years....and then the money pit (aka our house) started falling apart.....and then both our kids started playing competitive sports.....and then my DH was getting less and less work. And so here we are. It drives me crazy but I try to juggle it among interest free credit card offers until we can pay it off.
While at times I feel irresponsible, I also recognize that we haven't been on a vacation in several years, never go out to dinner, and I'm wearing clothes I've had for many years. So, it is what it is. Canceling my cable and cutting coupons isn't going to save me from ruin. Our debt is not insurmountable and if I drained all our savings I could probably pay it off but I really feel like I need to maintain some liquid cash.
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| Posted 1/13/19 6:14 PM |
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Mrs213
????????
Member since 2/09 18986 total posts
Name:
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do you have any credit card debt?
Loads. Around 30k
I don't use credit cards now. Bad decisions combined with 2 job losses got us where we are. Its such a burden. I feel guilty spending any amount of money.
Message edited 1/13/2019 6:24:16 PM.
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| Posted 1/13/19 6:22 PM |
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klingklang77
kraftwerk!
Member since 7/06 11489 total posts
Name:
Völlig losgelöst
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Re: do you have any credit card debt?
I have zero credit card debt. CCs are different here and whatever you charge is deducted from your bank account every month.
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| Posted 1/13/19 6:28 PM |
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NervousNell
Just another chapter in life..
Member since 11/09 54921 total posts
Name:
..being a mommy and being a wife!
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Re: do you have any credit card debt?
Nope and no mortgage anymore either.
Just 2 car leases
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| Posted 1/13/19 6:30 PM |
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MsSissy
xoxoxo
Member since 3/07 39159 total posts
Name:
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Re: do you have any credit card debt?
I have about $2000-2500.
Im not surprised so many people have c/c debit. Job loses, medical issues, keeping up with the jones. And Im sure with this shutdown a lot more people will be in it.
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| Posted 1/13/19 6:43 PM |
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M514
Hi
Member since 8/10 6011 total posts
Name:
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do you have any credit card debt?
None. We pay off our credit cards in full each month.
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| Posted 1/13/19 6:44 PM |
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PitterPatter11
Baby Boy is Here!
Member since 5/11 7632 total posts
Name:
Momma <3
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do you have any credit card debt?
None. We buy our cars outright and our house will be paid off in a few years. My DH is very conservative with spending which is a blessing and curse.
I am not surprised most people have credit card debt. Like a PP said a lot of people feel the need to keep up with the Joneses. I find this especially true on LI.
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| Posted 1/13/19 6:58 PM |
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do you have any credit card debt?
Nope, I just have an Amex I pay monthly and it’s one of those you can’t have the balance on, that gold card. I love it because of the points, no issues with fraud charges the only things coming from my bank account are my mortgage, my car loan, and our student loans. All our friends and most of our family except for one person I know of have credit card debt. A good friend of ours had a kid in August and they weren’t too prepared even having been married and had a house, the MINIMUMS on their credit cards were over 1k monthly... I don’t know how I could live with that...I mean I get for emergencies in a dire case but they bought a camper, new cars out in a pool, all financed plus a bunch of excessive home stuff and 3 vacations. My BIL/SIL have declared bankruptcy, made my mother in law watch their kids, never picked them up and caused her to loose her job, because they couldnt pay for child care, continue to leave their kids there and have a few hundred thousand in credit card debt and personal loans  but they go on vacation and always have new stuff so.... I couldn’t live that way that’s me personally but most people I know have CC debt
Message edited 1/13/2019 7:10:32 PM.
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| Posted 1/13/19 7:07 PM |
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Lauren82
LIF Adult
Member since 10/06 4580 total posts
Name:
L
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Re: do you have any credit card debt?
Off topic, but related...my husband woke up today talking about a ted ed video he watched last night on financial literacy and how we should start working on that with our kids to help them understand the value of money, since credit and debit cards are lessening that in younger people. My parents never had credit card debt and raised me to only buy things I could pay for in cash...I converted my husband...sometimes it's frustrating to not have the newest and coolest stuff, but it is all paid for which eases my mind at night.
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| Posted 1/13/19 7:24 PM |
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MrsT809
LIF Adult
Member since 9/09 12167 total posts
Name:
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do you have any credit card debt?
None here, everything gets paid in full each month. I'm also looking forward to no student or car loans within the next few months.
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| Posted 1/13/19 7:45 PM |
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ali120206
2 Boys
Member since 7/06 17795 total posts
Name:
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do you have any credit card debt?
We have a little bit on a zero percent interest card.
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| Posted 1/13/19 8:04 PM |
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mommy2be716
LIF Adult
Member since 1/16 2921 total posts
Name:
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Re: do you have any credit card debt?
Posted by NervousNell
Nope and no mortgage anymore either.
Just 2 car leases
that's amazing! We will have our mortgage for 25 more years unless we pay it off early (only bought 5 years ago), and I have 1 year left financing my car and dh leases. Aside from that, we don't have any other debt. I worry that if we add a 2nd DC to the mix, it would definitely change things. All of the friends who said they had more significant debt had 3 or more kids, so I am sure that plays a huge role. We have a pretty comfortable life and enjoy vacationing a few times a year. Probably can't do that with another child.
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| Posted 1/13/19 8:10 PM |
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mommy2be716
LIF Adult
Member since 1/16 2921 total posts
Name:
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Re: do you have any credit card debt?
Posted by Lauren82
Off topic, but related...my husband woke up today talking about a ted ed video he watched last night on financial literacy and how we should start working on that with our kids to help them understand the value of money, since credit and debit cards are lessening that in younger people. My parents never had credit card debt and raised me to only buy things I could pay for in cash...I converted my husband...sometimes it's frustrating to not have the newest and coolest stuff, but it is all paid for which eases my mind at night.
Yes this is like my parents- My dad raised us to save for anything we want and pay for it outright, or finance at a very low interest rate for a car or an item like that. He owned his own mortgage broker business for many years and drilled the idea of interest rates in our heads early on. He would charge me interest on $20 if I didn't pay him back in a reasonable amount of time!! lol
my in-laws, however, were not (and still are not) like this. Dh is good with his money, but in the beginning of our marriage his dad tried to instruct him to apply for a home depot credit card and rack up debt on that to do home projects that would be nice improvements, but more of a luxury than a necessity. I stopped that right away and made it pretty clear that we were not going to be like that. my SIL however is in massive debt because she fell into their same habits..
Message edited 1/13/2019 8:17:01 PM.
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| Posted 1/13/19 8:14 PM |
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Katareen
5,000 Posts!
Member since 4/10 7180 total posts
Name:
Katherine
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Re: do you have any credit card debt?
Posted by mommy2B3
I picked wrong, I chose $0-1999, but we have no credit card debt. We spend on our credit cards every month but pay it off every month, we never carry a balance.
Same, saw the 0 and voted
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| Posted 1/13/19 8:18 PM |
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queensgal
Smile
Member since 4/09 3287 total posts
Name:
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Re: do you have any credit card debt?
We’ve always lived below our means which I believe is the secret to being “rich”. Lol we aren’t actually rich but we don’t worry
When we first lived together, we didn’t even have internet to save money.
My life was greatly impacted due to financial stress of my parents. I will never do that to my kids. I don’t mean due to medical bills or something like that - I mean owning 2 houses and vacations and stuff but being in debt up to their eyeballs. I’m very conservative with my money due to this upbringing.
Most of America has credit card debt.
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| Posted 1/13/19 8:46 PM |
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MissJones
I need a nap!
Member since 5/05 22150 total posts
Name:
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Re: do you have any credit card debt?
Posted by ChilisWife
We never, ever used to have credit card debt for years and years....and then the money pit (aka our house) started falling apart.....and then both our kids started playing competitive sports.....and then my DH was getting less and less work. And so here we are. It drives me crazy but I try to juggle it among interest free credit card offers until we can pay it off.
While at times I feel irresponsible, I also recognize that we haven't been on a vacation in several years, never go out to dinner, and I'm wearing clothes I've had for many years. So, it is what it is. Canceling my cable and cutting coupons isn't going to save me from ruin. Our debt is not insurmountable and if I drained all our savings I could probably pay it off but I really feel like I need to maintain some liquid cash.
This! Never used to. But now, between the house, childcare, extras for the kids, it's inevitable. I try to stay with a budget but some months are worse.
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| Posted 1/13/19 8:58 PM |
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Re: do you have any credit card debt?
Posted by mommy2be716
Posted by NervousNell
Nope and no mortgage anymore either.
Just 2 car leases
that's amazing! We will have our mortgage for 25 more years unless we pay it off early (only bought 5 years ago), and I have 1 year left financing my car and dh leases. Aside from that, we don't have any other debt. I worry that if we add a 2nd DC to the mix, it would definitely change things. All of the friends who said they had more significant debt had 3 or more kids, so I am sure that plays a huge role. We have a pretty comfortable life and enjoy vacationing a few times a year. Probably can't do that with another child.
I think it’s all relative, I’m a big, have an emergency fund type of person and not intentionally try and add more kids if you can’t afford this. This was bil/ sil, planned a second without being able to afford the first... now the mess they are in and dragged my in laws into they will never get out of. I have 2 kids and would feel comfortable financially adding a 3rd if we decided to. If I couldn’t I would be on like as many different birth control methods possible. There’s families that I know that can afford 5 kids with no problem and mom to stay home and I wish I can say I could but I can’t so I wouldn’t even consider more than 3.
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| Posted 1/13/19 9:04 PM |
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Re: do you have any credit card debt?
Posted by Lauren82
Off topic, but related...my husband woke up today talking about a ted ed video he watched last night on financial literacy and how we should start working on that with our kids to help them understand the value of money, since credit and debit cards are lessening that in younger people. My parents never had credit card debt and raised me to only buy things I could pay for in cash...I converted my husband...sometimes it's frustrating to not have the newest and coolest stuff, but it is all paid for which eases my mind at night.
This is so important. I am even this way now with my kids. They are still so young but if I take them somewhere, I have them give the money, even though they don’t understand, at their age I feel simply stating things cost money is important
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| Posted 1/13/19 9:05 PM |
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NervousNell
Just another chapter in life..
Member since 11/09 54921 total posts
Name:
..being a mommy and being a wife!
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Re: do you have any credit card debt?
Posted by mommy2be716
Posted by NervousNell
Nope and no mortgage anymore either.
Just 2 car leases
that's amazing! We will have our mortgage for 25 more years unless we pay it off early (only bought 5 years ago), and I have 1 year left financing my car and dh leases. Aside from that, we don't have any other debt. I worry that if we add a 2nd DC to the mix, it would definitely change things. All of the friends who said they had more significant debt had 3 or more kids, so I am sure that plays a huge role. We have a pretty comfortable life and enjoy vacationing a few times a year. Probably can't do that with another child.
We started throwing extra towards principle every month and by doing so we paid off a 30 year mortgage in about 16 years.
We figured better to put that few hundred a month towards paying it off than having it sit in the bank earning nothing.
I'm very glad we did.
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| Posted 1/13/19 9:19 PM |
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PearlJamChick
No one sings like you anymore.
Member since 7/10 9264 total posts
Name:
Petticoated Swashbuckler
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Re: do you have any credit card debt?
Nope. We put almost everything on a credit card each month to earn travel rewards and pay off the balance in full each month.
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| Posted 1/13/19 9:25 PM |
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Momma2015
Mommax2
Member since 12/12 6656 total posts
Name:
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Re: do you have any credit card debt?
I didn't have a credit card until I was almost 30. I never wanted the temptation or felt the need for one. If I couldn't buy it with cash, I couldn't buy it. Period.
So when I tried to apply for a mortgage, I was denied because I had no credit. Not a bad credit score- NO credit score.  And so I was forced to open a credit card and carry a small balance to prove my credit worthiness, waited a full calendar year, and applied again for a mortgage. We now have about $3k in credit card debt because we just charged some emergency dental work on my DH's card. But otherwise, I try to carry a low balance or pay it off monthly.
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| Posted 1/14/19 8:26 AM |
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Mushesgirl
Too blessed to be stressed
Member since 4/09 6691 total posts
Name:
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Re: do you have any credit card debt?
Posted by Mrs213
Loads. Around 30k
I don't use credit cards now. Bad decisions combined with 2 job losses got us where we are. Its such a burden. I feel guilty spending any amount of money.
my parents racked up huge cc debt and ended up going bankrupt i think twice, at least once that I remember. my father had been laid off and my grandmother was bedridden and mom and her 2 siblings were paying aides for around the clock care for her. cc were their only option. it was a bad time, I feel you.
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| Posted 1/14/19 9:10 AM |
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