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Nonsense. You incur no risk of not being able to pay off your credit card bill in full if you don't spend money you don't have.
A lot of people don't have that option. If you live paycheck to paycheck and your transmission goes, on a credit card it goes. Before my bankruptcy 35 years ago, I had exactly $12 a week left over from my check after I paid my rent. That was to cover lunches for the week and everything else I needed. Quite obviously though it wasn't enough. I didn't even have a car, I hitchhiked to work and back every single day. My bff (whose mother and brother I was living with) was away at college, and shamefully, I had to take her underwear a couple of times because I didn't have any that didn't have holes. It seemed an impossible situation to climb out of, and I couldn't in the end. But I wasn't living large, I was trying to buy basic necessities.
A lot of people don't have that option. If you live paycheck to paycheck and your transmission goes, on a credit card it goes. Before my bankruptcy 35 years ago, I had exactly $12 a week left over from my check after I paid my rent. That was to cover lunches for the week and everything else I needed. Quite obviously though it wasn't enough. I didn't even have a car, I hitchhiked to work and back every single day. My bff (whose mother and brother I was living with) was away at college, and shamefully, I had to take her underwear a couple of times because I didn't have any that didn't have holes. It seemed an impossible situation to climb out of, and I couldn't in the end. But I wasn't living large, I was trying to buy basic necessities.
That has zero bearing on MY personal risk of not being able to pay off my credit card in full.
I am contributing 0 dollars of CC debt...I learned long ago...only buy what you have the money for...I have 1 CC w/ a fairly high limit...I do all my spending on that 1 CC, which earns pts for Amazon....and then each month I pay the full balance off when the statement is due.
I cannot understand why anyone would do it any other way.
I'm basically credit card debt free, have a little bit on the card I can pay off over a couple of pay periods. I've worked hard to live below my means and be responsible with credit. I've also been sort of lucky too. Some people can get into a bad spot with the right combination of things going wrong.
What surprises me is how many people don't even have 500 bucks saved up for an emergency. Read some article online a few months ago and was just blown away. I make pretty good money and all but more importantly my GF and I live below our means for the most part.
In my standard savings acct, I have just shy of a full year at my current spending levels in savings...I learned that lesson a hard way in my late 20s...got laid off, only had a couple thousand in savings (had much more in 401K), and it took me almost 6 months to find a job. Luckily I could pull some money out of that 401K but then of course it was taxed...lessen learned and when I got that next job, I kept under my max budget until I got at least 6 months of expenses in savings.
Your risk of not paying your credit card bills in full is not impacted by anyone else's checking account balance, except your own.
That is true for me, you or anyone else.
When did I say anything that implied other people's bank accounts would be affected by my bills??? Are you sure you're responding to the right post? I really don't get the point you're trying to make.
A lot of people don't have that option. If you live paycheck to paycheck and your transmission goes, on a credit card it goes. Before my bankruptcy 35 years ago, I had exactly $12 a week left over from my check after I paid my rent. That was to cover lunches for the week and everything else I needed. Quite obviously though it wasn't enough. I didn't even have a car, I hitchhiked to work and back every single day. My bff (whose mother and brother I was living with) was away at college, and shamefully, I had to take her underwear a couple of times because I didn't have any that didn't have holes. It seemed an impossible situation to climb out of, and I couldn't in the end. But I wasn't living large, I was trying to buy basic necessities.
Quite simply then they should not be buying stuff with money they don't have.
If you live paycheck to paycheck then a CC is the LAST thing you need.
You said "you" in your post, which implies you were speaking of others. Most people say "I" when the post is referencing their own situation.
You really can't speak for the "collective" unless you've been voted in.
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Read some article online a few months ago and was just blown away. I make pretty good money and all but more importantly my GF and I live below our means for the most part.
