I've met people that owe 20 times their salary, and obviously banks love them. I personally have never had one and wish I never will need one... Save me RNGsus. Do you owe too much? What happened? My parents once had a really bad fluke and went into a pretty bad debt that only now they're paying , 15 years later and with my and my siblings' help.
According to my credit report I owe a little over $2,000 but that is spread across 3 cards My biggest problem is having a $1300 credit limit on one of the cards I was being pretty frivolous with the first card I guess, I was buying plane tickets and buying snacks at school; buying stuff I didn't really need but said "What the hell, why not put it on the card" Its slowly getting paid down, thankfully its not too much though.
I'm glad you're being able to pay it. Some are not able until a long, long time passes and even then, they have trouble paying... Credit cards are traps. How are you controlling your expenses after that? Are there any measures you're taking?
I'm not in school and I don't travel as much so I don't really have a whole lot to use it for. Since I am on a fixed income (disability) I don't really have to buy a whole lot of things because of where I live. Nowadays though I usually have cash on me or I will use my debit card.
I was not to smart when using credit cards. I always got into trouble right around the holiday's. I have come a long way and remind myself that if I can not afford it, and am not meant to have it. Material things come and go and they don't make up for the presence of life, love and family.
The only debt I have that is heavily burden at this time is students' loan, it was very convenient while going school but the interest is excessive. With this pending amount, I am extremely careful not to add any other debt to this amount. I limit my spending, I live within my means, only have one credit card and hope I remain being debt free except for my student's loan. Education is a good investment for self development but I sometimes thought I should never do this.
I have 2 credit cards that gave me a combined limit of about 3 times my salary. Last year I almost reached the maximum limit.. was worried, but with good financial discipline, I managed to put it back down to about below 20% and will make it go down to zero again in the next who months. There is nothing wrong with using your credit card for as long as you are not abusing it and if sometimes you really need the support it can provide, make sure you can follow a strict financial discipline in order to pay it off at the shortest time you could possibly can.
I started having financial problems years ago, when I was a young girl. I just didn't know how to deal with money because it was something that I wasn't taught. My parents didn't talk about money, not that it was a secret or anything, they just didn't discuss it, not in front of me anyway. I got my first credit card when I was kind of fresh out of high school (I now have a son who is in high school, so this was years ago). I was working at a law firm, making good money, with no responsibilities. I was spending money, but not saving. After awhile, making good money made me "credit worthy." I applied for credit and got it. I started to "collect" credit cards, it was "fun" to me. Every time a card came in the mail, it meant I could go shopping. Before you know it, I had about 15 cards, a brand new car, and owed money to all of them. Years later, I still struggle with financial matters. It is a good thing to learn at a really early age how to manage money.
In my time I had three credit cards. I ended up in about ten thousand dollars in debt. How did this happen, well first of all using a credit card is simple and we can lose track of what we are doing with them if we aren't careful. I also found that I needed to use them to pay medical bills to help out my mother when she became seriously ill and her health coverage wouldn't cover everything that needed to be done. Looking back on all of it I'm not proud of the debt I got into. I ended up filing bankruptcy and told myself never again will I get myself in that mess. I now have two debit cards based on money I creently have not credit and debt.
