We had another interesting question in our “blogger brain trust” round up this week, and I thought i’d share it :) If you remember, the last one i participated in was regarding the Bill of Rights for Credit Card Holders – i got pretty fired up with that one!
Today’s question is pretty cool cuz you ALWAYS here people talking about “having to” put things on their credit cards, which strikes me differently depending on my mood. The logical side says WTF? NEVER do that! While the “that’s life” side says…well….that’s life! Either way, it’s def. interesting.
“What goes through your mind when people say that they HAD to use their credit card to get by? Is using a credit card when you can’t afford to pay a smart or necessary thing to do?”
I think “Wow, they must have REALLY been in a sucky situation!” I’m more of a positive thinker, so i tend to give people the benefit of the doubt from the get-go. I bet most of the time the people confuse NEEDS with WANTS, but that usually pops in my mind later if i’m giving it more thought ;)
There is nothing wrong with putting NEEDS on your credit card to get by – this is life, and it’s not always perfect. If you need food or shelter, and have absolutely no money in the bank, then you’re pretty much out of luck.
It also depends on the timeframe we’re talking about here. If we’re talking about a few years here, then obviously there are some other ways to get your hands on money – loans, friends, etc. But i see no problem w/ loading up the card for a few months and then working to pay it off as quickly as possible.
I personally put everything i can on my credit card to manage my budget – gives me 30 free days, ya know? I pay it off in full each month, but worst case scenario you rack up a little interest when needed. That’s what it all comes down to really – the needs vs wants.
You can check out the other bloggers’ responses over at GetOutofDebt.org where they’re complied each week – we all have our unique voices :)
PS: Some of my favorite tools:
|Personal Capital (FREE) -- If you’re looking for a robust financial tracker, Personal Capital is the way to go! They’re like Mint, but on steroids and have much better tools for investment and net worth tracking. // Full review|
|Digit (FREE) -- A super easy (and automated) way to save. Every day Digit analyzes your income and expenses and will push money aside for you any time it sees extra sitting there. I've saved over $4,000 myself using them so far! // Full review|
|Acorns -- Having trouble finding money to invest? Check out Acorns – they round up all your transactions to the nearest $1.00 and drops the difference into an investment portfolio for you. Easy way to start investing! // Full review|