Thread Rating:
  • 1 Vote(s) - 4 Average
  • 1
  • 2
  • 3
  • 4
  • 5
Why do we only discuss expenses when reducing credit card debt?
#21
Because expenses is one of the factors to have a bill in a credit card or debt card if we don't buy we don't have to pay for the debts its simple but in real if we don't use credit card and we use our own money its less problems and no worries.
Reply
#22
I agree wirh you a 100%, I haven't seen any site bring up this only how to spend wisely and all those rules and laws I don't think they follow, that's why I get tired of reading any business oriented book. You have said it all, let's think about how to expand our income, expenses are bound to come through to everyone, there are those we plan and others we don't plan, think of other things you could do to add up. There are so many out there, expand your boundaries.
Reply
#23
(01-28-2018, 07:33 AM)gamingadict Wrote: Because expenses is one of the factors to have a bill in a credit card or debt card if we don't buy we don't have to pay for the debts its simple but in real if we don't use credit card and we use our own money its less problems and no worries.

As long as one is still alive, one will always have needs as well as wants. It's knowing the difference between the two in spending that would make you not abuse the use of either your credit card or debit card and have lots of debts to take care of. Spending wisely and doing a reasonable job that fetches you good fund to take care of your bills is the best way to stay out of financial problems.
Reply
#24
Paying off your credit card
Using a credit card for your spending can have many benefits, from added legal protection to cashback or collecting loyalty points at your favourite retailer. However, credit card debt can quickly mount up if you don’t pay your card off in full each month.
Reply
#25
Yes you're right. To avoid more interest rate on your debts, you should pay it as early as you can. Meaning you should generate or find a way to have more income to pay for your debts. A little extra work or job can make it, but the most wise thing to do is not acquire any debts at all. Just learn to manage the money you had and don't spend money you don't have.
Reply
#26
(01-30-2018, 01:13 AM)JB Fernandez Wrote: Yes you're right. To avoid more interest rate on your debts, you should pay it as early as you can. Meaning you should generate or find a way to have more income to pay for your debts. A little extra work or job can make it, but the most wise thing to do is not acquire any debts at all. Just learn to manage the money you had and don't spend money you don't have.

Currently I'm working two salary jobs and also as a freelancer in order to make more funds available to take care of my needs and responsibilities. This helps me stay on top of my financial situation and make sure that I cannot get into debts whatsoever. It's not easy working two jobs and also as a freelancer, the stress gets to me sometimes but at the end of the month looking at my bank account puts a huge smile on my face.
Reply
#27
(01-30-2018, 04:50 AM)Martinsx Wrote:
(01-30-2018, 01:13 AM)JB Fernandez Wrote: Yes you're right. To avoid more interest rate on your debts, you should pay it as early as you can. Meaning you should generate or find a way to have more income to pay for your debts. A little extra work or job can make it, but the most wise thing to do is not acquire any debts at all. Just learn to manage the money you had and don't spend money you don't have.

Currently I'm working two salary jobs and also as a freelancer in order to make more funds available to take care of my needs and responsibilities. This helps me stay on top of my financial situation and make sure that I cannot get into debts whatsoever. It's not easy working two jobs and also as a freelancer, the stress gets to me sometimes but at the end of the month looking at my bank account puts a huge smile on my face.

Amazing! I admire hard working people like yourself. Do you mind me asking how old are you? And how do you manage to cope with all the tasks you have, don't you feel drained at the end of the day?
Reply
#28
(01-20-2018, 02:53 AM)Sase3119 Wrote:
(01-18-2018, 07:59 AM)kaisantos2229 Wrote: Because too much expenses is the reason why people have credit card debts. To avoid credit card debt is to avoid using your credit card for unnecessary things. Be responsible enough in using your credit card so that you won't end up having debt crisis. People should understand that owning a credit is a once in a life time privilege which you cannot use unwisely.

That isn't always true. Sometimes you need to use them for emergencies (medical bills, family emergency, funeral expense, whatever it is) or just unavoidable costs that you can't afford right then. If you lose your job and are waiting on government support, a credit card is an easy way to pay your bills in the meantime and avoid being kicked out of your house. Not to mention people need to eat! Don't assume people are only getting into debt because of unnecessary expenditure.

My assumption is logical, how do you suppose to prevent huge credit card debts if you won't stop over spend, specially when you use your credit card? And when did I said that using your credit for emergency purposes is unwisely? You know, if people can only learn how to properly save their money, then they can avoid not having enough money to spend when unexpected things happen.

Yes I agree with you that credit card can be use in such many ways but do you think it's wiser if you save the extra money you suppose to pay for your credit card fees?
Reply
#29
(01-11-2018, 10:25 PM)Michael Puttman Wrote: Whenever I read articles about paying down credit card debt, or any kind of debt really, the author always focuses on rearranging how they spend the money they have. They say things like "make a budget", or "limit your spending". But they never seem to discuss the other side of the equation and that is making more money. How about picking up odd jobs, or be an Uber driver for a few hours a night. I think doing both - reducing expenses and increasing income is the real solution to money problems.

Yes, I totally agree with you. There are so many side-hustles that you can do to cover up that debt. So why not focus on that? It's good to spend less and save more, but if you can increase your income by a considerable amount, you can spend more and also save more.
Reply


Forum Jump:


Users browsing this thread: 1 Guest(s)