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So there are exceptions to your rude and over-generalized assumption that people with some ill-defined sum of credit card debt can't control their spending. Thanks for clarifying.
Still, the development of your thoughts seems disorderly and unnecessarily presumptuous and aggressive. Most notable is your use of non sequiturs and your straw-attempts at divining things about my financial situation to which you then apply evaluations. Doing this is usually an effective way to redirect attention from talking like an idiot in public; nicely played.
Nevertheless, my situation doesn't fit your amorphous and self-serving standards. While I could have kept the roof, cesspool and furnace until I could pay to replace them with cash, I reasoned that the improvement to my quality of life were worth the cost of interest. It is a financial decision that I've chosen to live with. I don't understand how that fits the definition of "spending out of control" especially if I'm equipped to re-pay it in relatively short order.
right... and your long winded post with big words is is an effective way to redirect the arguement that i can live within my means and not feel the need to pay credit card interest... nicely played
right... and your long winded post with big words is is an effective way to redirect the arguement that i can live within my means and not feel the need to pay credit card interest... nicely played
ps don't bother replying...
This isn't an "arguement" (sic). You made a statement that made no sense, and so I wanted clarification. You explained that only people with medical bills will be allowed a dispensation from your skepticism about their credit spending habits. How magnanimous!
I don't know what your last statement means. I stated that I reasoned that the cost of the credit card interest was well worth the improvement to my quality of life. Your response? That I "redirect the arguement that i can live within my means and not feel the need to pay credit card interest."
PS: Don't be an elitist when it comes to spending habits, and then play the role of down-trodden cowering victim to someone who reads and bothers to crack dictionaries once in a while.
and no, i never said medical bills were the only reason... 'for example' would indicate that it is ONE reason, not the entire set of reasons
Quote:
Originally Posted by DeadPool1998
This isn't an "arguement" (sic). You made a statement that made no sense, and so I wanted clarification. You explained that only people with medical bills will be allowed a dispensation from your skepticism about their credit spending habits. How magnanimous!
I don't know what your last statement means. I stated that I reasoned that the cost of the credit card interest was well worth the improvement to my quality of life. Your response? That I "redirect the arguement that i can live within my means and not feel the need to pay credit card interest."
PS: Don't be an elitist when it comes to spending habits, and then play the role of down-trodden cowering victim to someone who reads and bothers to crack dictionaries once in a while.
What would compel you to say that? While there clearly are people who spend out of control, there are others who have fewer resources to fall back on and so must use credit cards. That doesn't mean that their spending is "out of control."
I have roughly $10k in credit card debt. I had $15k this time last year, but paid off $5K. This year I plan to pay down nearly all of the rest.
Why do I have so much? Because I own a lot of pants and drink lattes?
Nope. After moving here and buying one of the cheapest houses that I could find I had to replace the roof, the furnace, and the cesspool in one year.
Why not use equity and pay it back with the tax deduction? Because all the equity in my house dried up after we moved in in 2007 because the value of my home dropped by 25%.
Be careful how you characterize people's use of credit card debt. You can't generalize.
I agree ...sadly CCs have also become healthcare in the good old USA.
This is exactly why this thread is a waste... All the holier then thous immediately post "ZERO!".... then as soon as someone came in and admitted to some CC debt and why, someone else jumped right on them and made them seem foolish and "irresponsible".
It's just "so LI" and predictable. I'M BETTER THEN YOU.
At some point I don't see how it doesn't just get tiring devoting so much effort to proving you're better then someone else.
If you don't think CC debt is a national epidemic (yes, LI included), you're just being ignorant.
I do have mortage debt and student loan debt, but none of it origionated from purchases.
You can justify the spending however you want. carrying a credit card balance is bad news, I'm with ENFD on this one regarding only large unforseen medical bills being a good reason for carrying that kind of debt. I don't think the home repair/home improvement arguement flys, but to each his own.
One purchasing a house should have an emergency fund for unforeen expendatures or shouldn't be buying one.
I do have mortage debt and student loan debt, but none of it origionated from purchases.
You can justify the spending however you want. carrying a credit card balance is bad news, I'm with ENFD on this one regarding only large unforseen medical bills being a good reason for carrying that kind of debt. I don't think the home repair/home improvement arguement flys, but to each his own.
One purchasing a house should have an emergency fund for unforeen expendatures or shouldn't be buying one.
Well, I wish I had known at the time that the world is black and white. It would have made my decision-making a lot easier for me.
I'd appreciate it if you'd provide me with your phone number. Next time I find a roof leak and mold in my attic, I'd like you to explain to me how to repair it with your absolutist spending ethic.
No - wait! Better yet, I'll just sell the house in a state of disrepair after I'm underwater and assume more debt to the bank, forfeiting the asset altogether! Now that DOES make sense! Thanks for getting me to re-evaluate my decision.
I shouldn't be so glib. I should have lived with the mold and the leak, allowed my family to suffer from toxic mold syndrome, admitted them to the hospital, and then paid the medical bills with my credit card. I think that is perhaps the best way for my spending to meet with your approval!
A cc can be a useful financial planning instrument but most commonly it is used to satisfy immediate consumer urges. This thread seems prmarily composed of two types of cc users - those that never carry a balance and those that have used it as an emergency source of financing. Excluded are the vast majority that carry balances due to consumer purchases.
It is not a generalization to say that the majority of cc balances are due to the UGG boots, iPods, LCDs, cable bills, house upgrades, etc... For the minority of us who carry zero debt the world is black and white - those who are fiscally responsible and those that are not.
Topic is no longer about LI.. there is a finance forum if you wish to continue discussing debt
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You've made no sense.
