Quote:
Originally Posted by Tim Hancock
We made double payments on the house for many years until we recently paid it off, buy nothing but used cars with cash and always pay the cc off at the end of the month. Of course I happen to love living in a 40 yr old plain jane house and driving 5-30 yr old german cars all the while knowing that losing my job would not be the end of the world.  |
Sounds exactly like me.
I've never carried a penny of credit card debt in my life, and, really, don't even understand the concept behind doing that. So someone, help me to understand it.
I can see if you need money for an emergency, and you are broke and have no choice.
But someone fill me in on the rationale behind paying interest to a credit card company (non-emergency stuff). Is it just to be able to buy stuff you can't afford to pay for? If that's the case, and you can't afford to pay for it today, is there something planned that makes you think you can pay for it in a few months? (Like a big raise or something).
If one is that close to the edge on finances, it seems like paying big interest to a credit card company is the *last* thing you'd want to do. That seems so obviously moving in the wrong direction, I don't understand how anyone could do it.
My other guess is that it may be related to how you were raised/your family? Parents or others around you carried cc debt, so it's just viewed as a normal way of doing things?
Not judging anyone (I don't care), but I am interested in getting into the heads of those who carry credit card balances (for non-emergency things). 'splain your thinking to me!