May 17, 2011 11:02 PM GMT
Does anyone have any debt stories/experiences to share and how you got through or what you did to fix or better your financial situation? Always open to hear ideas of saving money and manage a decent living.
in2muscle2010 saidAlways open to hear ideas of saving money and manage a decent living.To save money, don't spend it.
Trollileo saidAnd porn.paulflexes saidProstitution. Duh.in2muscle2010 saidAlways open to hear ideas of saving money and manage a decent living.To save money, don't spend it.
To manage a decent living, you must first make one.
I'll get back to you when I figure out how.
canuckguy19 saidDon't spend more than you make. Pretty simple.
For such a young kid, you have a great head on your shoulders. Finance major here and I really liked your input on frugality. I loved the definition...
^ genius. good for you.
buckled saidcanuckguy19 saidDon't spend more than you make. Pretty simple.
If it were that simple then no one would be in debt. I recently launched my website StudentFinancialAdvice.com that discusses this along many other topics. Although it's more tailored towards college students I think anyone could use some of the articles to benefit them.
I realize I only have 4 articles up at the moment, but I will be posting about 2 a week (new one will be up tomorrow).
A huge factor of finance is the psychology of money and I think people neglect that a lot of times... for instance the quoted comment. Americans wouldn't be in debt if money was strictly will power.
I totally do agree with Canuck... but it's just not realistic advice, considering the people that follow it are few and far between.
It is that simple, whatever causes people to violate this principle is worthy of discussion, I agree.
Debt incurred to sustain life, is not what I am talking about. It's debt to finance wants not needs that "don't spend more than you make" refers to in my mind. I fortunately have never had to worry about money, but see the principle violated by my peers daily, and wonder at how they are stretched financially when I know they make by most comparisons very healthy salaries.
I think it's really hard to be gay and not go into debt.
AvadaKedavra saidI had to put myself through college so I used my credit card pretty often when I had to buy stuff like furniture, books and other essential stuff. I also had to pay rent a few times and to fix my car when it broke down. I had like $15k of credit card debit by the time I was done with school.
After I was done with school and got a full time job I was able to slowly pay it down but never completely got rid of it. Its hard when the stupid interest keeps adding onto it. I found a job that paid for my rent and gave me a per diem everyday for half a year. I was also getting my regular salary. I was able to eliminate all of my credit card debit in 3 months and quickly built up a savings that I still add to and never had to touch for any reason.
I use my credit card for purchases all the time now to get points but I pay it off before any interest is charged. It was a bitch to make the monthly payments only to realize that a huge chunk of it goes to the interest. No matter what I did I felt like I was never going to get out of the hole. It was a huge relief being able to pay off everything. I was fortunate to land the job.
Before I got the job I was just cutting down my expenses and putting everything to my credit card payments. It seems like it was taking forever but it definitely was going down. Just really cut back on the spending.