Tilted Forum Project Discussion Community - View Single Post - When purchasing something, do you save up or put it on credit?

Ambient1 · 05-30-2005, 06:32 AM

I have no credit anymore... which is a good thing.

I was never taught personal finance, and my parents were very bad role models... By the time I was 28, I was $60,000 in debt.

I realized that I needed to do something, but I was powerless to stop it. (or so I thought)

I started going to a credit counsellor, and ended up working out a repayment plan. I cut up all my credit cards that day.

I still have about $20,000 left to pay off, but it's worth it for the feeling of relief. It's taken a lot of work for me to get used to using cash. I've never saved for anything before (hard as it may be to believe).

I'm pretty paranoid about money now, and don't really like to spend it at all... which isn't really healthy either. I am working towards re-establishing my credit so that I can by a house, and a CC would be handy for some deals online.

05-30-2005, 06:32 AM	#53 (permalink)
Ambient1 Tilted Location: The Hammer	I have no credit anymore... which is a good thing. I was never taught personal finance, and my parents were very bad role models... By the time I was 28, I was $60,000 in debt. I realized that I needed to do something, but I was powerless to stop it. (or so I thought) I started going to a credit counsellor, and ended up working out a repayment plan. I cut up all my credit cards that day. I still have about $20,000 left to pay off, but it's worth it for the feeling of relief. It's taken a lot of work for me to get used to using cash. I've never saved for anything before (hard as it may be to believe). I'm pretty paranoid about money now, and don't really like to spend it at all... which isn't really healthy either. I am working towards re-establishing my credit so that I can by a house, and a CC would be handy for some deals online.