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Damm, I would have held on to that money just in case I'm next in the upcoming weeks. I just like to have as much money in my account as possible when a job starts letting people go. So now it's nervous time because not only did I pay off the Amex Card, but I paid the balance on the rest of my bills
Wis I can turn back the clock.
Why is that a bad thing? You wanna be fired with credit card bills you can't pay?
I would have paid the minimum instead of sending one large chunk of money
I do understand this line of thinking, but as long as the CC companies do not lower your lines of credit, you can still keep on using them as you need to.
Damm, I would have held on to that money just in case I'm next in the upcoming weeks. I just like to have as much money in my account as possible when a job starts letting people go. So now it's nervous time because not only did I pay off the Amex Card, but I paid the balance on the rest of my bills
Wis I can turn back the clock.
But you haven't been let go YET...... so what I'd do is NOT incur any more debt, tighten up my budget and cut cut cut and start stuffing away money.... To my way of thinking it puts you in the best possible place to be if you lose your job.... just be pro-active and cut and save and not re-active and panic.
Well, that would have been not-so-smart.
If you're gonna be umemployed, better to be so debt-free.
Well it's a dead issue now since I paid it but when I was unemployed before I just paid the minimum payment each month so I could hold to as much money as possible.
Year and a half ago my company let go some people for the first time ever and I was freaking out for a while. Today I am still employed and our company is doing pretty darn well and hiring again. My advice is to not get overly concerned. Have an up to date resume, save a couple extra bucks, and whatever happens, happens. There is no need to worry about something that may never happen.
Yes, you are still better off having paid off the cards. You may need to use them if you get laid off. This happened to me. We had about $1000 balance on a credit card. I got laid off. Luckily the stimulus money came through (2008), instead of "stimulating" the economy and spending it, guess what we did with it? Paid off the balance.
Luckily I found a new job in about 5-1/2 months after the layoff. (Some of my co-workers were not so lucky.)
I would start looking though - and look for a BETTER job.
Yes, you are still better off having paid off the cards. You may need to use them if you get laid off. This happened to me. We had about $1000 balance on a credit card. I got laid off. Luckily the stimulus money came through (2008), instead of "stimulating" the economy and spending it, guess what we did with it? Paid off the balance.
Luckily I found a new job in about 5-1/2 months after the layoff. (Some of my co-workers were not so lucky.)
I would start looking though - and look for a BETTER job.
Maybe it's just me but when I don't have a job I don't use a credit card. I only use a credit card when I have a job. When I have no job I spend less money so I can save more.
What's done is done. Pare back as much as possible, forgo any purchases that aren't essential, and start stashing money away like crazy. Can't hurt to be prepared, and I agree with those who posted that at least you won't have to worry about any credit card bills if you do get let go.
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