I give up trying to ERASE DEBT and now will just MANAGE DEBT

[DukeDelonte13]

only debt i have is my mortgage.

Pay off that CC debt that sh*t is like the plague.

I'll never get a car loan or swipe more than I can immediately pay off. I only use my credit card to accumulate miles.

I love stupid expensive purchases like every guy does, but I try to limit it.

[bladefd]

I never really understood the need for travel miles. Isn't cashback more valuable?

[ItsMillerTime]

I use my credit card as if it's my debit card in order to get the rewards and cashback as much as possible...the important thing to do though is treat it like a debit card and don't spend more than you have. Every month I pay my full balance, and thank god have never paid interest on a debit card in my life because of that.


I know life just happens sometimes and there is no planning, sometimes you need cash asap and it is what it is...but at the end of the day where that emergency money comes from is your responsibility, if you spend beyond your means then ofc you will eventually be in debt. Save, spend wisely, and don't be careless. It's as simple as tracking your spending on a weekly basis, it's much more simplified for us these days with the use of online accounts. You can track everything without taking notes and keeping receipts (although I still find myself taking notes). BTW spending beyond your means = living pay check to pay check. That's the tip of the mountain, it gets a lot worse than that for some people but that I still consider living beyond your means to be living pay check to pay check. Saveeeeeeeeee.


When you can fully control where your money is spent, you have full control on your debt and you wont have issues like stated in the OP. In no way am I criticizing you, I'm just trying to make sure you understand it starts and ends with you. Also, you're under 5k in debt. Consider yourself lucky, some people are in a muuuuuuuuuch deeper hole....they need a crane to lift them out lol, you just need a 6ft ladder.


All the best.

Yuuuup. I use my Credit Card for literally everything. I don't let it rack up any debt over $1000 and because of that I've never paid interest on it. If you have a responsible mentality, owning credit cards is a blessing. I use all the points to buy free shit off Amazon.

[JohnnySic]

I haven't used a credit card in over 10 years and dont plan to.

[DukeDelonte13]

I never really understood the need for travel miles. Isn't cashback more valuable?

not if you use the miles. My wife flies about 2-3 times a year I fly about once. My old card had cashback. It's not even close.

[bladefd]

not if you use the miles. My wife flies about 2-3 times a year I fly about once. My old card had cashback. It's not even close.

Do you get more value with travel miles than say 2.5% cashback? My chase freedom is 5% cashback in different sectors by quarter

[Brujesino]

I owe about 2,300 on my credit card been making minimum payments on it. Bought a TV and went to mexico last year so I just started paying the interest on it like 2 months ago.

[bladefd]

I owe about 2,300 on my credit card been making minimum payments on it. Bought a TV and went to mexico last year so I just started paying the interest on it like 2 months ago.

Big mistake. You will be spending a lot on interest, especially on credit cards which typically have crazy rates. Don't do minimum payments. Spend less but stay on top of your statements..

Remember, interest rates/apr are how credit card companies stay in business. Late fees too..

[Brujesino]

Big mistake. You will be spending a lot on interest, especially on credit cards which typically have crazy rates. Don't do minimum payments. Spend less but stay on top of your statements..

Yup i thought oh I got 15 months of zero interest so im good I can pay that but then my car broke down I had to get a new one shit just went down hill.

Im making 200 dollar payments since this month hopefully all goes well

[bladefd]

Yup i thought oh I got 15 months of zero interest so im good I can pay that but then my car broke down I had to get a new one shit just went down hill.

Im making 200 dollar payments since this month hopefully all goes well

Yeah, you can never prepare for emergency costs. They pop up. Spend only what you can afford to. Budget it out!

[rufuspaul]

not if you use the miles. My wife flies about 2-3 times a year I fly about once. My old card had cashback. It's not even close.

I use a miles card for business. We get at least 2 trips a year through that.

[qrich]

I have 0 debt myself, but recently my father had a mental breakdown. So I was left with trying to pay his CC bills, all that are digital or over the phone. I don't understand how this guy accumulated all those and he's retired. Oh yeah, he bought a car financed I'm trying to sell his car off because he isn't allowed to drive, I parked in a garage 2 miles away so we can protect him from himself. And he keeps telling me he's gonna take a loss if we sell it for the lien on it... I'm like duh, $600 goes into this car every month and no one's even using it. Better to get rid of it asap, it's a 3 year old car that isn't worth what is still owed for it

Anyways, yeah being careless and irresponsible is not a good quality. Find a way to pay it off as soon as you can because these banks are scumbags and those interest rates. They had no problem handing out credit cards to a retired man only getting his SS checks. Does not excuse my father, but the guy has been emasculated pretty much since he got forced to retire.

Until you sell it, put it on Turo and make money on it.

[Cleverness]

I use my credit card as if it's my debit card in order to get the rewards and cashback as much as possible...the important thing to do though is treat it like a debit card and don't spend more than you have. Every month I pay my full balance, and thank god have never paid interest on a debit card in my life because of that.


I know life just happens sometimes and there is no planning, sometimes you need cash asap and it is what it is...but at the end of the day where that emergency money comes from is your responsibility, if you spend beyond your means then ofc you will eventually be in debt. Save, spend wisely, and don't be careless. It's as simple as tracking your spending on a weekly basis, it's much more simplified for us these days with the use of online accounts. You can track everything without taking notes and keeping receipts (although I still find myself taking notes). BTW spending beyond your means = living pay check to pay check. That's the tip of the mountain, it gets a lot worse than that for some people but that I still consider living beyond your means to be living pay check to pay check. Saveeeeeeeeee.


When you can fully control where your money is spent, you have full control on your debt and you wont have issues like stated in the OP. In no way am I criticizing you, I'm just trying to make sure you understand it starts and ends with you. Also, you're under 5k in debt. Consider yourself lucky, some people are in a muuuuuuuuuch deeper hole....they need a crane to lift them out lol, you just need a 6ft ladder.


All the best.

This is also what I do

$12,000+ in credit card perks so far

Never paid any interest

[dazzer87]

CC are amazing. Earn points and some of them offer extended warranty on electronics for free....If you pay it off at the end of the month then what is the problem?

[hold this L]

$4775

Man, aggressively pay this off. Don't pay the minimum as others stated. One easy way is don't go out and eat so much but cook and home, saves a ton of money. Bring your own food to work as well. I don't know your finances, but you should be looking to pay 200-300/month to kill it off.