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Don't buy things on credit cards that you don't have the cash in the bank to cover at the end of the month and it won't be a problem.
Yep. I honestly don't have credit cards because I know I lack the discipline not to spend. Unfortunately for my friend she used her credit cards while in college and is now paying for it after.
Well nobody said. But you're aberrant if you don't.
That's changing with the credit lines still tight and the economy still contracting.
Before the post-WWII era until now, everyone owning a home wasn't normal. Everyone was crammed into inner-city apartment buildings. Only the wealthy folks owned homes. Once the US experienced what seemed to be a never-ending economic expansion, thanks to isolationist/protectionist policies of the 1950s-1970s combined with the easy credit available, it then became normal for everyone to grow up and eventually own a home.
We're regressing back to the pre-WWII type of lifestyle.
Unless people are going to pay for their home outright and plan to live in it forever, it's not a safe investment anymore.
The credit cards were used when she was in college. She is still paying them off two years later, because of the balance on them. She hasn't used either card since college, and was in the midst of trying to pay them off when she became unemployed. In terms of this effecting her credit. Yep. I feel really bad for her. On the other hand, I still think her situation is better than bankruptcy--I mean if she filed bankruptcy that would make it difficult her to go to college(she is planning to go back next year), she wouldn't be able to get a home, or a whole lot of other items, forget getting an apartment. Even though she might have bad credit, it still looks a little better IMO than bankruptcy.
Which is why I said it should be used a last resort. Did you miss that part?
About when she got her cards or how much is left, as painful as it is to hear, as annoying as it is to hear, she was living beyond her means. Plain and simple. That she is still paying them off two years later clearly illustrates she was living beyond her means.
Which is why I said it should be used a last resort. Did you miss that part?
About when she got her cards or how much is left, as painful as it is to hear, as annoying as it is to hear, she was living beyond her means. Plain and simple. That she is still paying them off two years later clearly illustrates she was living beyond her means.
I disagree. I love owning my home and being able to do what I want to it. We looked for several years for the right property and custom built our home to be exactly what we wanted to live in forever.
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. Unfortunately for my friend she used her credit cards while in college and is now paying for it after.
