Members ckreon Posted May 22, 2009 Members Share Posted May 22, 2009 People always assume that CC debt has been accrued due to the purchase of big-screen TVs, lavish vacations and the like. Maybe OP put some or all of his schooling, books, etc. on his cards. Sometimes you gotta do what you gotta do. I'd never talk someone out of putting an education on a credit card if that's what was necessary. Now, if OP had a lengthy signature listing all the expensive boutique gear he owns, that would be a different story. He said what he put on there, which included a honeymoon (plane tickets too), groceries, and a lot of eating out. Honeymoon expense could've been a lot cheaper if they were truly focused on living "within their means" - and obviously eating out can be controlled. Maybe it was worth it to the OP, I don't know. But that still is poor spending habits. Link to comment Share on other sites More sharing options...
Members bluesboy Posted May 22, 2009 Author Members Share Posted May 22, 2009 i have 1 epiphone les paul (that my wife bought me), a squire telecaster, a fender blues deluxe reissue, and a few pedals. not excessive to what some people have on here. it was mostly the other things that i already mentioned: laptop, honeymoon (biggie!), also a wedding gift for my woman, etc. everyithg else was groceries, gas (i drive alot), etc. I also stopped all automatic charges on my cards, internet, magazines, EZ Pass, etc. Link to comment Share on other sites More sharing options...
Members Ron Burgandy Posted May 22, 2009 Members Share Posted May 22, 2009 He said what he put on there, which included a honeymoon (plane tickets too), groceries, and a lot of eating out.Honeymoon expense could've been a lot cheaper if they were truly focused on living "within their means" - and obviously eating out can be controlled.Maybe it was worth it to the OP, I don't know. But that still is poor spending habits. Taking responsibility for debt > Pointing out how he got into it Link to comment Share on other sites More sharing options...
Members bluesboy Posted May 22, 2009 Author Members Share Posted May 22, 2009 in addition, scientists sometimes are very deep, abstract thinkers, but arent always gifted with common sense. im a neuroscientist, not a mathemetician. you cant have everything Link to comment Share on other sites More sharing options...
Members ckreon Posted May 22, 2009 Members Share Posted May 22, 2009 Taking responsibility for debt > Pointing out how he got into it I got your point in your other response. I was simply responding to a question. I fully admit my posts in no way help the OP, I was just making an observation as I was a bit shocked. Now carry on saving the world. Link to comment Share on other sites More sharing options...
Members chakosh Posted May 22, 2009 Members Share Posted May 22, 2009 Now carry on saving the world. Wait a minute... Burgandy = JACK BAUER? Link to comment Share on other sites More sharing options...
Members Uncle_Milton Posted May 22, 2009 Members Share Posted May 22, 2009 I also stopped all automatic charges on my cards, internet, magazines, EZ Pass, etc. Make sure you remember to pay the light bill:poke: Link to comment Share on other sites More sharing options...
Members PlayboyChris Posted May 22, 2009 Members Share Posted May 22, 2009 He said what he put on there, which included a honeymoon (plane tickets too), groceries, and a lot of eating out. Okay I missed that. Well, what's done is done. The time has come to pay the piper. Link to comment Share on other sites More sharing options...
Members Ron Burgandy Posted May 22, 2009 Members Share Posted May 22, 2009 I got your point in your other response.I was simply responding to a question.I fully admit my posts in no way help the OP, I was just making an observation as I was a bit shocked.Now carry on saving the world. And normally I'd wholeheartedly agree with your response. Assuming the person was trying to weasel their way out of paying it back. People buy unnecessary things. It's a fact of life. People make mistakes. It's a fact of life. The difference is, he's answering and trying to correct his mistakes. He's got my respect. Link to comment Share on other sites More sharing options...
Members ckreon Posted May 22, 2009 Members Share Posted May 22, 2009 Okay I missed that. Well, what's done is done. The time has come to pay the piper. Agreed on both of you, I hope the best for him, and enjoyed a lot of the advice given on here. But seriously, the debt snowball method is your best bet :poke: Link to comment Share on other sites More sharing options...
Members Mr. Brady Posted May 22, 2009 Members Share Posted May 22, 2009 The wife, that was you're problem. Get rid of that expense and that will save you the most in the long run. Link to comment Share on other sites More sharing options...
Members nedezero Posted May 22, 2009 Members Share Posted May 22, 2009 and the mongoloids advising him to file bankruptcy, you can actually find some good advice on this forum On this we agree! Universal truth - No one ever got rich being in debt. Link to comment Share on other sites More sharing options...
Members PlayboyChris Posted May 22, 2009 Members Share Posted May 22, 2009 Universal truth - No one ever got rich being in debt. Bull{censored}. Link to comment Share on other sites More sharing options...
Members bluesboy Posted May 22, 2009 Author Members Share Posted May 22, 2009 The wife, that was you're problem. Get rid of that expense and that will save you the most in the long run. LOL... Link to comment Share on other sites More sharing options...
Members ckreon Posted May 22, 2009 Members Share Posted May 22, 2009 Bull{censored}. I think he forgot about Enron already... Link to comment Share on other sites More sharing options...
Members Ron Burgandy Posted May 22, 2009 Members Share Posted May 22, 2009 Ramsey's plan works for those that don't wish to be in debt their whole life. I'm a believer in his system because I've seen how it works. People are put off by Dave because he does proselytize and chides people for not acting their "wage". If you can get past that , his system not only erases debt, but also changes behavior. This has nothing to do with being scared of credit, and has everything to do with staying out of debt and building wealth. Every penny you have tied up in debt, is a penny that is NOT building wealth. As far as having screwed up credit, I have a FICO above 800 and only a mortgage which will be paid off in three years (I bought the house last year). I accomplished this by eliminating all credit card and car loan debt. I also have a graduate degree in business and work as a bank officer for a highly successful institution that has no need for bailout money and no sub-prime connections. On this we agree! Universal truth - No one ever got rich being in debt. Funny, I'm in the same position, and I think Dave Ramsey is only appropriate for people that don't know how to manage credit correctly. There's a difference between using a credit card wisely, and being in debt. Ramsey doesn't differentiate between the two, because he uses scare tactics and buzz words into scaring people to use cash only. Cash is subprime. Link to comment Share on other sites More sharing options...
Members PlayboyChris Posted May 22, 2009 Members Share Posted May 22, 2009 I think he forgot about Enron already... Alleged "universal truths" are what turn people off to people like Dave Ramsey, things like organized religion, etc. Instilling a fear of debt in people and/or instilling a desire to become "rich" in people are Ramsey's way of controlling them. Link to comment Share on other sites More sharing options...
Members chakosh Posted May 22, 2009 Members Share Posted May 22, 2009 The wife, that was you're problem. Get rid of that expense and that will save you the most in the long run. Not any more... Since he tied the knot, should he decide to get rid of the "expense" of the wife it'll cost him 1/2 of all his sh!t now and for the rest of his life to get out of it. Link to comment Share on other sites More sharing options...
Members Ron Burgandy Posted May 22, 2009 Members Share Posted May 22, 2009 Alleged "universal truths" are what turn people off to people like Dave Ramsey, things like organized religion, etc. Instilling a fear of debt in people and/or instilling a desire to become "rich" in people are Ramsey's way of controlling them.Exactly. There are no such things as blanket statements when it comes to personal finance. I wonder if Dave runs all of his business expenses through a corporate Amex to reap the {censored} out of some rewards... Naw, I'm sure he just pays cash like he advocates Link to comment Share on other sites More sharing options...
Members Shiny_Surface Posted May 22, 2009 Members Share Posted May 22, 2009 Not any more... Since he tied the knot, should he decide to get rid of the "expense" of the wife it'll cost him 1/2 of all his sh!t now and for the rest of his life to get out of it.Maybe she would get hit with 1/2 of his credit card debt though in the settlement, might be worth it if he doesn't currently have alot of assets. Link to comment Share on other sites More sharing options...
Members buddhapaugh Posted May 22, 2009 Members Share Posted May 22, 2009 im very tempted to buy a really really nice guitar, but im not going to do it- lol. its a hard decision im forcing myself to make Take 80% of the 5 G's and pay off some debt and reward yourself for graduating with a $1000 guitar/gear purchase. Link to comment Share on other sites More sharing options...
Members nedezero Posted May 22, 2009 Members Share Posted May 22, 2009 Funny, I'm in the same position, and I think Dave Ramsey is only appropriate for people that don't know how to manage credit correctly. There's a difference between using a credit card wisely, and being in debt. Ramsey doesn't differentiate between the two, because he uses scare tactics and buzz words into scaring people to use cash only. Cash is subprime. We can agree to disagree I guess. I take the position that using money that isn't yours is never wise, but it is sometimes necessary and unavoidable. If one's use of credit is so wise (I assume that means keeping a zero balance and not incurring interest charges and fees), than why not just use cash? Almost every person I know that finds themselves swamped with credit card debt started out thinking they were using credit "responsibly". On a broader scale, this "credit culture" we have is part of the over-all economic problem this country currently is in. Link to comment Share on other sites More sharing options...
Members nedezero Posted May 22, 2009 Members Share Posted May 22, 2009 Bull{censored}. Name one. Link to comment Share on other sites More sharing options...
Members ckreon Posted May 22, 2009 Members Share Posted May 22, 2009 Name one. I already did, Enron.They lived on nothing but debt for years, and made people rich while doing so.Not to mention almost any business startup ever in existence - you almost always begin with debt, sometimes stays that way for a good while.Obviously, Enron fell, but they are an extreme example, able to earn BILLIONS in a debt-soaked environment before going down. Link to comment Share on other sites More sharing options...
Members mhenson42 Posted May 22, 2009 Members Share Posted May 22, 2009 We can agree to disagree I guess. I take the position that using money that isn't yours is never wise, but it is sometimes necessary and unavoidable. lol. you are a loan officer for a bank? That's a bit hypocritical. 99.999% of businesses are run using credit lines. What bank do you work for? Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.