Money Talk

[nick_tiger]

I really hope everyone reads this. If you really think I'm wrong, then just skip it - don't reply and tell me how you do it... it doesn't work. I hope you can read this and listen with your heart and understand that I'm trying to help

Comments

[dasoslukos]

I have learned the hard way about credit cards myself and am still paying off my mistakes. Once that is done I will have one card with $1,000 for pure emergency. Thats it. Done with that BS. Funny part is, people wonder why the economy blows. Its because people have misused credit and lending.

[johnwallaby]

Credit cards are NOT for emergencies, thats the job of savings or money market accounts.

[crssafox]

I'd have to disagree with this to a point. Yes, it's better to have savings than to have to go into debt BUT life doesn't always work like that. In my case, and I know many others as well, emergencies tend to stack up, one right after the other. The car needs repairs, then the dog gets sick and needs treatment, then after exhausting your savings you find yourself needing to take a last-minute trip across the country for a funeral. This is how things happen for me, and also why, despite having paid down our debts, I will keep our credit cards open. If I get a finance charge, I would rather waste my twenty minutes calling them to take it off, than not having that option available if absolutely necessary

[nick_tiger]

I disagree with this wholeheartedly.

You have to make a decision that you WILL NOT BORROW MONEY. Car breaks down? That's what the emergency fund is for. If the dog gets sick, perhaps you can't afford to take care of an animal right now. If someone dies, I think they'll understand my not being there at 30% interest.

I'm not saying your wrong for doing those things (We have a Dog, and we get it), but it's got to be a conscious decision to not go into debt.

The funny thing is, when you have an emergency fund, it tends to keep Murphy away. Things that were big emergencies before become minor inconveniences. The problem is, no one restocks the emergency fund. You have to STOP SPENDING in order to build it back up after an emergency.

-Tiger Nick

[crssafox]

See, I'm with you, and yet not, at the same time, if that makes any sense

[nick_tiger]

I'm with ya. I'm not judging either; don't think I'm calling anyone out, or saying I'm right. It's just my view of things, and I hope to share so my friends may learn something from our story

[crssafox]

Oh man, store cards. I am so annoyed at how everyone asks if you want one. Ugh

[crssafox]

Btw sorry for all the typos. iPod can be fickle. :P