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Re: Getting out of debt

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Message 61 of 68
This has a thumbs up to click but no thumbs down. You don't know this persons whole situation and the damage is already done. I owe a lot of money because of my age and condition am limited for work and had to use credit to buy food and medical and auto repairs . Sometimes we have to use the credit but cant make enough to pay more than the minimum and still go without enough food and without some medical care or lack of money. No one needs to here your sarcastic answer, Have some compassion honey
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Re: Getting out of debt

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Message 62 of 68

i m in the same vote your in. all we can do keep trying to do the best we can do.

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Re: Getting out of debt

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Message 63 of 68
learn what items are luxury items rather than necessities: cigarettes, booze, soda, snacks, cable TV, unlimited data cell phone plans, wi fi, are all luxury items when you have debt. Most towns have a public FREE library where you can use computers/wi fi without spending a dime.
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Re: Getting out of debt

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Message 64 of 68

Dave Ramsey has written many useful books on this subject.  Check them out at a book store or your library.

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Re: Getting out of debt

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Message 65 of 68

Just live within your means, if using credit card, pay it off immediately when getting the bill.  Do not spend unless you have the money to cover everything.  In other words, just live within your means.

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Re: Getting out of debt

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Message 66 of 68

Just getting rid of the current debt will only cause a much bigger debt with no way out later on. Wouldn’t it be better to learn personal Biblical financial freedom FIRST? I’m just asking.

 

Humbly in Christ,

D

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Re: Getting out of debt

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Message 67 of 68

Im confused by your statement.  I was just speaking from a standpoint of simple economics, work experience in credit card customer service for J P Morgan Chase & personal experience in Chapter 13 bankruptcy.  If you are tight on funds & have a credit card balance then you have to reduce your expenditures to only those that are absolutely & positively necessary expenditures.  That means no dinners out, holiday trips, play things for either one of the parents or children,etc.  If the children dont like it then send them to Parris Island where they will learn discipline & respect, both of which are not taught in today's liberal society! When you receive a credit card statement, do not, repeat do not pay the minimum due!  While that will make the banks happy given their monthly interest rate charge you will be paying that balance until you pass on or pass it on to your beneficiaries to be settled by your estate.  Im currently paying off a $2700 credit card bill caused by necessary expenditures that includes auto maintainace. While the bank may ask for a monthly minimum due of about $100 I pay them $1000 or more & limit my credit card usage.  No.  Im not wealthy.  Quite the contrary as the only monthly income I have is my monthly SSDI cheque & a $1500 cheque, the amount of which I cannot change, from a trust fund.  Pratically all of my SSDI cheque pays the monthly mortgage charge.  I therefore have to plan out each & every individual day.

Richard I. Pigott
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Re: Getting out of debt

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Message 68 of 68

@FREEMASON wrote:

>When you receive a credit card statement, do not, repeat do not pay the minimum due!  While that will make the banks happy given their monthly interest rate charge you will be paying that balance until you pass on or pass it on to your beneficiaries to be settled by your estate. >

 


I noticed the last time I was paying bills online, that the credit card payment defaults to the minimum payment rather than the balance.  Nice try ha!

 

 

Life's a Journey, not a Destination" Aerosmith
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