[Liver]

Quote:

Originally Posted by RushNerd /img/forum/go_quote.gif I completely failed to see the draw that Americans have for credit cards (or the unconscious want of debt?). I suppose it might be different when your holding a high limit card in your hand and staring the "unattainable" item that your longing for. Still, I strongly dislike being financially tied down as this as as bad as a horrible relationship. At the very least, i've always bought things with my own real money (though sometimes I couldn't really "afford" to, this is another story ).

I fail to see how this is an "American" fascination. From reading news print and internet news, seems like personal debt is a world wide phenomenon.

 

[CDBacklash]

I think he is confusing governmental debt with personal debt. (as per US national debt clock). Although, that debt does fall on the citizens. There are also a large number of US shows that talk about CC debt, and it doesnt really exist elsewhere (the shows, that is)

 

[RushNerd]

Quote:

Originally Posted by CDBacklash /img/forum/go_quote.gif I think he is confusing governmental debt with personal debt. (as per US national debt clock).

I'm not a moron, but yes we certainly have a lot of that kind of debt too. I don't have any studies to refer to, I just had assumed Americans have more problems with debt and more of it, verses other countries.

 

[Chri5peed]

I've never got a CC, I do not trust myself with free money. My bank account is always overdrawn to its limit.

 

[rRav3n]

Quote:

Originally Posted by Chri5peed /img/forum/go_quote.gif I've never got a CC, I do not trust myself with free money. My bank account is always overdrawn to its limit.

lol yeh i no the feeling, i darnt get a CC, otherwise i know it will be a slippery slope, thankfuly i am ok with just the bank overdraft ... but that can be difficult to sort some times

 

[Chri5peed]

I often get numerous offers for cards with over a 10K limit. I know in weeks I'd have numerous 10K debts.

My main bank overdraft I got to get some bike bits in 1998, ever since it stayed overdrawn.



edit - A young guy who worked for my Dad got an Aston Martin DB9 via credit, foolish mortal.

 

[lucky]

I've got to say I'm pleasantly surprised by the poll's results. If the majority of folks here are debt-free, we're doing considerably better than the national average.

 

[HONEYBOY]

Shouldn't they be equal????

 

[Uncle Erik]

I can't recall the exact number, but the amount of US consumer debt dropped hard recently. I want to say 18%, but I don't have the exact figure.

Americans seem to have found religion on debt, thanks to the crisis. I pulled all the way back around October last year. No discretionary spending, save for a few things. Bought a couple more guns, the Quad ESL-63s (hell, they were $650) and had a complete lapse of judgment with the HF-2 yesterday morning.

I saw the link to TTVJ, and just clicked through and ordered on autopilot.

Anyhow, I've butchered a few debts this year, have been sticking cash away, cut discretionary spending way back, and I think I'm going to sell some unnecessary stuff and bank the cash.

I know that doesn't exactly stimulate the economy, but I have more toys than I can play with. Plans for the immediate future are to build/finish several projects and just enjoy them. I'll probably buy more music (I aim for one disc a week), but everything else is cut. I don't buy lunch even and take my own water bottle (with tapwater) everywhere.

I think a lot of other people are doing the same.

 

[Moontan13]

Quote:

Originally Posted by Uncle Erik /img/forum/go_quote.gif I know that doesn't exactly stimulate the economy, but I have more toys than I can play with. Plans for the immediate future are to build/finish several projects and just enjoy them. I'll probably buy more music (I aim for one disc a week), but everything else is cut. I don't buy lunch even and take my own water bottle (with tapwater) everywhere. I think a lot of other people are doing the same.

Yessir.
I had a few hundred on several CC cards, but paid those off and closed the accounts last year. With election results being what they were, it seemed prudent to batten down the hatches, so to speak.

 

[skitlets]

With the HF-2 announcement... I'm having a hard time resisting. Living off financial aid, school loans, and a part-time job. I've set aside a small lump from a long summer of work so I'll be okay if I give in... so long as I move some other equipment real soon. I've never not paid off my CC at the end of the month. I love the convenience, I get to keep more money in my savings to collect a bit of interest, and the CC itself has % cashback.

 

[K3cT]

Debt-free so far but very tempted to draw first blood with the HF-2.

 

[genclaymore]

For me I have no CC debt as we use a atm card with a mastercard logo on it.Tho if I had a CC card I would generaly pay off my debt first no matter what.

 

[nc8000]

About the same but they are not related

 

[jeffreyj900]

Quote:

Originally Posted by cswann1 /img/forum/go_quote.gif I made a policy years ago that goes like this: If I want it and I don't have the money for it, I'll wait until I do to buy it. Using credit cards for buying luxuries you can't afford at the moment is a bad idea.

Word... If I used a credit card for headphone stuff, I'd be up to my ears in debt. Stuff changes and comes out to quickly to keep up. Using credit would be bad for me

I'd also say that having to save up makes you really consider if you want something or not. I can't tell you how many times in the past, I bought something and never used it.