Got in over my head with spending - Page 3

ivank · 06-29-10, 09:49 PM

Quote:

Originally Posted by tater

BTW, I should add that even while you spent more than you would have liked, you did NOT spend more than you HAD.

That is a CRITICAL distinction, and a reason to think when it comes to real credit cards. To build credit you need to use them, but it is oh so easy to end up in a hole that is hard to climb out of without discipline. Always use real credit with great care.

Yea, my dad said it is not a good idea to get a credit card, and well he was right

tater · 06-29-10, 09:53 PM

A house-mate in college inherited a bunch of money (a bunch for a student, not a lot in the real world). He spent it very poorly, and at some point had added overdraft protection to his bank account for some nominal monthly fee.

The trouble is that the availability was for a nominal fee, but if he actually used it, each payee cost him what was in effect a bounced check fee.

He got over his head, and it was BRUTAL. Goes $5 over, costs him ~$20. Now he's $25 in the hole, but he had a check out for some bill, that would-have bounced, got paid, he's now a couple hundred under. At some point (his overdraft was some low amount) he started bouncing checks, many times the fees being larger than the actual checks. Yikes.

I always try to pay as I go, even now. We keep zero CC balance. We have used credit to remodel, but literally we pay it back 100% within a year or we don't do it (usually pay cash, even then and use credit as a bridge only).

ivank · 06-29-10, 09:57 PM

Quote:

Originally Posted by tater

A house-mate in college inherited a bunch of money (a bunch for a student, not a lot in the real world). He spent it very poorly, and at some point had added overdraft protection to his bank account for some nominal monthly fee.

The trouble is that the availability was for a nominal fee, but if he actually used it, each payee cost him what was in effect a bounced check fee.

He got over his head, and it was BRUTAL. Goes $5 over, costs him ~$20. Now he's $25 in the hole, but he had a check out for some bill, that would-have bounced, got paid, he's now a couple hundred under. At some point (his overdraft was some low amount) he started bouncing checks, many times the fees being larger than the actual checks. Yikes.

I always try to pay as I go, even now. We keep zero CC balance. We have used credit to remodel, but literally we pay it back 100% within a year or we don't do it (usually pay cash, even then and use credit as a bridge only).

My bank offers the same, go over 1-3 times you pay $35, then $75, then $100 and so on.

ivank · 06-29-10, 09:58 PM

I have this great idea to make money fast! sale!

I have a bunch of DVDs I do not want, anyone interested?

Gerald · 06-29-10, 10:02 PM

Quote:

Originally Posted by ivank

No time outs we have been through that before, so it is time to ask for more hour at GS and save!

Good luck!

FIREWALL · 06-29-10, 10:49 PM

I don't know about the rest of you. But when I was ivanks age and had saved a tidy $23,500.00 I almost became a miser and wouldn't spend money on hardly anything.

Finally found what I wanted most and was able to buy it.

Once that pile of loot starts to grow it does strange things to you. well at least to me and I didn't to part with it very easily.

ivank · 06-29-10, 10:50 PM

Quote:

Originally Posted by FIREWALL

I don't know about the rest of you. But when I was ivanks age and had saved a tidy $3,500.00 I almost became a miser and wouldn't spend money on hardly anything.

Finally found what I wanted most and was able to buy it.

Once that pile of loot starts to grow it does strange things to you. well at least to me and I didn't to part with it very easily.

1) You guys can call me Ivan

2) I started this summer (May) with $2170

FIREWALL · 06-29-10, 10:54 PM

Hi Ivan I edited my post. I left out a 3.

Btw When I did spend it I spent it all at once.

Gerald · 06-29-10, 11:02 PM

Quote:

Originally Posted by ivank

1) You guys can call me Ivan

2) I started this summer (May) with $2170

for a change,what you did yesterday is history,you have always another option,so you can handle this in time be...

Gerald · 06-29-10, 11:05 PM

Quote:

Originally Posted by FIREWALL

Hi Ivan I edited my post. I left out a 3.

Btw When I did spend it I spent it all at once.

Women,cars and beers...

FIREWALL · 06-29-10, 11:09 PM

Quote:

Originally Posted by Vendor

Women,cars and beers...

Only one of those Vendor.

And have spent more than ten times that much since on another one.

Gerald · 06-29-10, 11:21 PM

Quote:

Originally Posted by FIREWALL

Only one of those Vendor.

And have spent more than ten times that much since on another one.

not too hard for solved this tread..

Castout · 06-29-10, 11:44 PM

You seem to have a soft spot for books. My advice would be buy one or at max two before committing to buy another. Finish them first before buying the others. That would help you to buy only those that you really would like to have instead those that caught your interest.

Or befriend a rich stupid kid that holds the same kind of book interest and photocopy everything

[will I get warning for this, was a joke, really LOL]

ivank · 06-30-10, 12:24 AM

Quote:

Originally Posted by Castout

You seem to have a soft spot for books. My advice would be buy one or at max two before committing to buy another. Finish them first before buying the others. That would help you to buy only those that you really would like to have instead those that caught your interest.

Or befriend a rich stupid kid that holds the same kind of book interest and photocopy everything

[will I get warning for this, was a joke, really LOL]

I have a serious case of ADD, so while reading one book, I will start another, then go back and read some more and so on. I am currently reading The Wolf, Sherlock Holmes, and the King maker.

As for the rich friend part, in my group of friends, I AM the rich guy, so no luck there

Sailor Steve · 06-30-10, 12:30 AM

I used to have trouble with cards, but I have one debit card from a local credit union and that's it. I check my numbers every day, and only buy things on days I get paid, and only what I plan for very carefully.

Quote:

Originally Posted by Ducimus

The one truly sad thing about debit cards, is being good with them doesn't help your credit score. Only real credit cards do.

That's not sad to me. A debit card is just like a check, only handier. I carry very little cash these days. On the other hand when I did have a credit card I ended up with a bill that took me years to pay off. Then I worked briefly for a credit card company and ended up swearing I would never have one again. And I haven't. Of course the afore-mentioned bills kind of made so I can't have one anyway.

For me the secret is to check every day, know exactly how much I have and how much any particular thing is going to cost me. I never buy more than one item (book, movie, music) per payday. Of course the last three have been pretty hefty for my limited budget - video card, external hard drive and memory upgrade. No purchases at all for three more weeks, and then it all goes for a new five-string bass. Professional expense, you know.

06-29-10, 09:58 PM	#34
ivank The Old Man Join Date: Apr 2008 Location: Huntington, Long Island, New York Posts: 1,426 Downloads: 284 Uploads: 0	SALE I have this great idea to make money fast! sale! I have a bunch of DVDs I do not want, anyone interested? __________________ Head of The Surface Warfare Super-Mod Team Leutnant z. S. David U. Ziegler U-105 IXB On Patrol 1

06-29-10, 10:49 PM	#36
FIREWALL Eternal Patrol Join Date: Mar 2006 Location: CATALINA IS. SO . CAL USA Posts: 10,108 Downloads: 511 Uploads: 0	I don't know about the rest of you. But when I was ivanks age and had saved a tidy $23,500.00 I almost became a miser and wouldn't spend money on hardly anything. Finally found what I wanted most and was able to buy it. Once that pile of loot starts to grow it does strange things to you. well at least to me and I didn't to part with it very easily. __________________ RIP FIREWALL I Play GWX. Silent Hunter Who ???

06-29-10, 10:54 PM	#38
FIREWALL Eternal Patrol Join Date: Mar 2006 Location: CATALINA IS. SO . CAL USA Posts: 10,108 Downloads: 511 Uploads: 0	Hi Ivan I edited my post. I left out a 3. Btw When I did spend it I spent it all at once. __________________ RIP FIREWALL I Play GWX. Silent Hunter Who ???

06-29-10, 11:44 PM	#43
Castout Silent Hunter Join Date: Nov 2006 Location: Jakarta Posts: 4,794 Downloads: 89 Uploads: 6	You seem to have a soft spot for books. My advice would be buy one or at max two before committing to buy another. Finish them first before buying the others. That would help you to buy only those that you really would like to have instead those that caught your interest. Or befriend a rich stupid kid that holds the same kind of book interest and photocopy everything [will I get warning for this, was a joke, really LOL] __________________ My blog: http://exposingsingapore.wordpress.com/

06-29-10, 09:53 PM	#32
tater Navy Seal Join Date: Mar 2007 Location: New Mexico, USA Posts: 9,023 Downloads: 8 Uploads: 2	A house-mate in college inherited a bunch of money (a bunch for a student, not a lot in the real world). He spent it very poorly, and at some point had added overdraft protection to his bank account for some nominal monthly fee. The trouble is that the availability was for a nominal fee, but if he actually used it, each payee cost him what was in effect a bounced check fee. He got over his head, and it was BRUTAL. Goes $5 over, costs him ~$20. Now he's $25 in the hole, but he had a check out for some bill, that would-have bounced, got paid, he's now a couple hundred under. At some point (his overdraft was some low amount) he started bouncing checks, many times the fees being larger than the actual checks. Yikes. I always try to pay as I go, even now. We keep zero CC balance. We have used credit to remodel, but literally we pay it back 100% within a year or we don't do it (usually pay cash, even then and use credit as a bridge only).