Credit Card debt

[MOMTOMOOTOO]

Do you find there are an inordinate amount of Disers who have zero credit card debt? While we do not live on credit nor are we swimming in debt, I do use credit cards We use them to our advantage and sometimes that leaves us in debt I just find that the DIS seems to attract more people with zero balance. Hmm, I wonder why that is? Any ideas?

 

[RickinNYC]

We have a little but not too much to worry about. Plus, we rarely ever use our credit cards as it is, even for vacations. Joe and I prefer to pay with cash/debit cards just about all the time.

Although I did use mine when I bought an iTouch a couple of weeks ago. Don't tell Joe!

 

[mickeyboat]

We use our cards a lot and pay off the balances every month. It hasn't always been this way, though, but at this point in our lives, we have learned to live at or below our means.

I think people who can afford Disney vacations are probably much the same.

Either that or a lot of people are lying!

Denae

 

[MOMTOMOOTOO]

Although I did use mine when I bought an iTouch a couple of weeks ago. Don't tell Joe!

Too late, I just texted him

 

[Fitswimmer]

There do seem to be an odd number of people on the DIS with perfect credit, perfect kids and perfect lives....but then, this is the internet and who knows what's really going on?

 

[binny]

We have a little more debt than I am comfortable with. Its all reasonable debt though.

I do see a lot of people here who either say they have no debt or really do not have any debt. I wonder though.

 

[NY Disney fan]

We use them to our advantage and sometimes that leaves us in debt

This statement is interesting because I find that credit cards with rewards attached cause people to spend more than they should. When you have to rack up those rewards, the focus is more on THAT than it is on using your card more cautiously. Maybe this is the problem.

 

[CheshireVal]

I think there's just an inordinate amount of Disers who brag about it.

 

[princesspiglet]

There do seem to be an odd number of people on the DIS with perfect credit, perfect kids and perfect lives....but then, this is the internet and who knows what's really going on?

I have found this to be true also. I'm not gonna lie. DH and I both had debt when we met,had debt when we got married and still have debt 14 years later. And we will probably be in debt until the day we die! It's a fact of life for the middle class. We have debt for our house, our cars, our student loans, our home quity loan, credit cards, etc. If you are middle class and live in America, you are 80% likely to have debt. ( I read it on msn). Even with both of us working and making pretty decent money, inflation increases everyday and the cost of living increases everyday. Pretty soon, only the super rich will be able to afford a comfortable lifestyle free of any debt and us working middle class will still be trying to catch up just to get by.

 

[MzDiz]

I have credit card debt. My kids are brats. I live in a house that I'd never start a picture thread to show off. We have two cars that are 8 years old (hey, at least we don't have a car payment!) Oh, and I'm also not involved in my kids' schools at all, mostly because I can't stand the other moms.

There. That should off-set some of the perfection around here.

 

[Briarmom]

Although I did use mine when I bought an iTouch a couple of weeks ago. Don't tell Joe!

It'll cost you. You know my price.

We have some debt right now. Moving ALWAYS costs money. This move has cost A LOT of money.
We've bought:
~A used car for dh that gets better gas milage (gas is about $8 a gallon here so we need to use the gas that's within our gas coupon range )
~rugs, dressers, cupboards for this new house that we'll live in for 2-3 years and never use again
~curtains for said house that we'll never use again
~all new cleaning products (doesn't sound like a lot, but go throw out all your windex, pledge, bathroom cleaners, etc and you'll see)
~lights (didn't come with the rental), power converters (tons of them and they are pricey!), microwave, coffe pot, iron, tv, phones, clocks, lamps, hoses, etc to use for this house only
~firewood

There is quite a bit more, but just typing that out has me a bit sad.
Some was bought by credit card, but we had a bit saved up, so I think we're ok. Once upon a time, with a different military rank, this move would have put is into financial distress.

 

[littleteapot]

Do you find there are an inordinate amount of Disers who have zero credit card debt? I just find that the DIS seems to attract more people with zero balance. Hmm, I wonder why that is? Any ideas?

We use our CC for everything to get the cash back bonus. I do pay it off monthly.

I wonder if the the national figures/averages for CC debt look at those of use who always have a balance but always pay it off.

Maybe it isn't has horrible as the numbers seem to say?

 

[CathrynRose]

Either that or a lot of people are lying!

Denae

I say - lying.

But who knows.... I have CC debt. Not a whole lot - but some. Ummm... I think it's $1000 on one card and $2500 on the other. Not too bad, I dont think...

Plus I have a 48" Plasma TV to show for it. And a bunch of other stuff - BUT a 48" Plasma TV! And numerous Disney trips...

It might be immature thinking, but I feel "you cant take it with you" - had my mom had a ton in savings, she didnt know she was going to pass away at age 55! Why should I get all her savings?

So my savings is minimal, so I can live AND I use my credit card whenever I get an itchin'!

 

[NCDisneyMom]

There do seem to be an odd number of people on the DIS with perfect credit, perfect kids and perfect lives....but then, this is the internet and who knows what's really going on?

I never claimed to have perfect kids or a perfect life (FAR from it! ), but we do have perfect credit. It's just the way that dh and I were both brought up, I guess. The only thing we owe on is our mortgage. I am paranoid about money, and if our account is getting too low by my standards, I start to panic. I think if we had debt, I'd really be having panic attacks.

 

[Cee]

Everything you said and THEN SOME. Having no debt is always something that
I aspire to. Maybe one day................................

 

[CathrynRose]

I have credit card debt. My kids are brats. I live in a house that I'd never start a picture thread to show off. We have two cars that are 8 years old (hey, at least we don't have a car payment!) Oh, and I'm also not involved in my kids' schools at all, mostly because I can't stand the other moms.

There. That should off-set some of the perfection around here.

I can off-set it too!!!

My kids are also brats - one worse then the other. I RENT a home! We also have 2 old cars... and Im not involved in the kids school's either - for the same reason!

Hi!!!

 

[Kath2003]

I don't have "no debt" because I have student loans (plus I rent, so I don't have a mortgage) but I certainly do NOT put anything on my credit card that I cannot afford to pay off each month. I have never had any outstanding balance on a credit card.

I do not spend each month what I do not earn, so the only debts I have are from student loans, which are at some stupidly low interest rate. So far this year I have taken out loans but I have not yet touched any of them. I may need them toward the end of the year, but even if I don't, I make 3% more interest on them by having them in my bank account than the interest I'm charged each year on them. It makes no financial sense NOT to take them, even if you don't use them, because if you don't use them, you either make money on them or break-even on them.

I also don't get car payments. I would not buy a car that I could not afford to pay for up front. I would take out credit if I could earn more by having the money in a bank account, though (like 3 years 0% finance or whatever).

That said, I also cannot afford to go to WDW. The last time I went was August 2006 and I do not anticipate being able to visit until at least summer of 2010. I am, however, able to afford the odd vacation - in December I'm going to Berlin with my boyfriend. Flights were $90, the hotel is $30 each per night. The whole trip cost less than $200 (before food, but we are only having one "proper" meal out, the rest of the time we're doing cafés and pizza!).

 

[helenabear]

I think there's just an inordinate amount of Disers who brag about it.

Probably right!

 

[Tantor]

We use our CC's all the time and then pay it off at the end of the month.We always always always pay it off. (yes I'm bragging ; ) )

 

[Acklander]

I think there's just an inordinate amount of Disers who brag about it.

In a way, I think you're right. However, if being debt free is something you're concerned about and you're able to remain debt free - then you have a right to brag.

Personally, debt has always been a non-issue to me. Sometimes I have a balance, sometimes I don't. I've never felt out of control with my finances and I grew up in a household that was financially stable. So for the times that I've carried a balance on my credit card, I knew it was only a matter of a few months before it was paid off (I've spent a bulk part of my adult life self employed - the income is good, but can be erratic); so for me to be bragging about it would be silly; since it was never an issue or a challenge in the first place. For some people who previously had debt problems and worked hard for years to become debt free - they've had a major accomplishment, they feel good about it and want to let the world know about it. Even for some who have not had personal debt, but know someone close to them or family members that have - they feel a sense of accomplishment because they didn't fall in the same black hole.

If you replace the word "debt" with another form of addiction it might help you understand. Example - my mom grew up in an alcoholic household. It effected her. She chose never to drink. As a matter of fact, she's quite proud of the fact that she has never had an alcoholic drink. To her it's a great accomplishment and I'm thrilled that she chose to break the cycle. I drink occasionally, I don't have an issue with it, so for me to brag about the same thing would be pretty pathetic. Now if I could lose the weight I've been carrying around since I quit smoking - I'd be singing it from the rooftops and everyone on this board will hear about it, and not just once. I'd find a way to post it on every active thread out there and would beg the tag fairy for an "I'm skinny" tag.