Comments on: Credit card debt part i – where did it all come from? http://www.moneyloveandchange.com/credit-card-debt-part-i-where-did-it-all-come-from A Journey to Financial Independence and Finding Meaning in Life Fri, 15 Oct 2010 03:11:37 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: moneyloveandchange http://www.moneyloveandchange.com/credit-card-debt-part-i-where-did-it-all-come-from/comment-page-1#comment-49 moneyloveandchange Sun, 17 Feb 2008 23:39:47 +0000 http://www.moneyloveandchange.com/credit-card-debt-part-i-where-did-it-all-come-from#comment-49 Cassie, Congrats for keeping away from the credit cards! Believe me, once we eliminate our debt, we're staying away from them unless something really awful happens. We haven't considered using any of the equity in our home to pay off our debt only because the credit card rates are so much lower - it is a great idea though! See my latest post for my CVS trip - they were out of the Venus razors and the toothpaste that was on sale, but I was still satisfied with my purchases. I plan on going early this week to stock up on some more diapers. Thanks for posting! Cassie,

Congrats for keeping away from the credit cards! Believe me, once we eliminate our debt, we’re staying away from them unless something really awful happens.

We haven’t considered using any of the equity in our home to pay off our debt only because the credit card rates are so much lower – it is a great idea though!

See my latest post for my CVS trip – they were out of the Venus razors and the toothpaste that was on sale, but I was still satisfied with my purchases. I plan on going early this week to stock up on some more diapers.

Thanks for posting!

]]> By: Cassie http://www.moneyloveandchange.com/credit-card-debt-part-i-where-did-it-all-come-from/comment-page-1#comment-43 Cassie Sat, 16 Feb 2008 21:24:49 +0000 http://www.moneyloveandchange.com/credit-card-debt-part-i-where-did-it-all-come-from#comment-43 We have tried very hard to only use credit cards if we are going to pay off the balance the next month. We have carried a balance probably 4 months out of the 9 years we have been married. I think credit cards give us a false sense of how much money we "have". We also had the opportunity to re-finance a couple years ago and roll our car payments and any other debt into the loan. This way, all the interest paid is tax deductable. So, how did your CVS trip go? <em>Cassie's last blog post..<a href='http://homeschoolingfour.blogspot.com/2008/02/happy-valentines-day.html' rel="nofollow">Happy Valentine's Day!!</a></em> We have tried very hard to only use credit cards if we are going to pay off the balance the next month. We have carried a balance probably 4 months out of the 9 years we have been married.
I think credit cards give us a false sense of how much money we “have”.
We also had the opportunity to re-finance a couple years ago and roll our car payments and any other debt into the loan. This way, all the interest paid is tax deductable.
So, how did your CVS trip go?

Cassie’s last blog post..Happy Valentine’s Day!!

]]> By: moneyloveandchange http://www.moneyloveandchange.com/credit-card-debt-part-i-where-did-it-all-come-from/comment-page-1#comment-39 moneyloveandchange Fri, 15 Feb 2008 23:08:05 +0000 http://www.moneyloveandchange.com/credit-card-debt-part-i-where-did-it-all-come-from#comment-39 Becky, I still wish that we didn't have all the debt, but I think that when used with a clear objective and understanding of the consequences, credit cards can be ok. I know that I could have done things differently (for example, worked a year between college and grad school), but I didn't want to procrastinate. I could also go back to work now and make some decent money (hopefully!), but it's not worth being away from my son. Hopefully over the next couple of months I can find some ways to be creative to help pay down our debts... stay tuned :) Becky,

I still wish that we didn’t have all the debt, but I think that when used with a clear objective and understanding of the consequences, credit cards can be ok.

I know that I could have done things differently (for example, worked a year between college and grad school), but I didn’t want to procrastinate. I could also go back to work now and make some decent money (hopefully!), but it’s not worth being away from my son.

Hopefully over the next couple of months I can find some ways to be creative to help pay down our debts… stay tuned :)

]]> By: Becky@FamilyandFinances http://www.moneyloveandchange.com/credit-card-debt-part-i-where-did-it-all-come-from/comment-page-1#comment-36 Becky@FamilyandFinances Fri, 15 Feb 2008 19:10:06 +0000 http://www.moneyloveandchange.com/credit-card-debt-part-i-where-did-it-all-come-from#comment-36 Wow! That's an interesting question. I think it's ok (though still not ideal) to have credit card debt when it is something like what you are doing: low interest rate on student loans, etc. My parents are planning on moving their small remaining mortgage to a 3.9% rate credit card from a 6% mortgage. I think that's ok and actually pretty smart! <em>Becky@FamilyandFinances's last blog post..<a href='http://familyandfinances.blogspot.com/2008/02/favorite-blog-post-21508.html' rel="nofollow">Favorite Blog Post 2/15/08</a></em> Wow! That’s an interesting question. I think it’s ok (though still not ideal) to have credit card debt when it is something like what you are doing: low interest rate on student loans, etc.

My parents are planning on moving their small remaining mortgage to a 3.9% rate credit card from a 6% mortgage. I think that’s ok and actually pretty smart!

Becky@FamilyandFinances’s last blog post..Favorite Blog Post 2/15/08

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