If you were in this situation and had a credit card with a $3000 limit what would you

[disneysteve]

And,if there was no emergency fund then what?

Then work. Sitting around not working for 3 months and living on credit just isn't the way I personally would have approached it.

As I said the last time I was between jobs, I sold on ebay full time. I spent nearly every day going to thrift shops, auctions, yard sales, outlet stores, and more to buy things to resell. I listed 10 items a day for 10-day auctions so I kept 100 auctions running at all times. I spent my days shopping, listing, packing, and shipping items. Today, with Craigslist, it's even easier. I could probably have money flowing within hours.

[Joan.of.the.Arch]

I'm going to admit that I always saw credit cards as potentially being a life preserver that could save me (us) in an emergency. The younger I was, the less savings I had and therefore the more likely to turn to credit card. However, we never did have to use it that way. We always saved, and yes, took some pee-dunk little jobs at times. In theory, I have always given myself permission to use CC for emergency, but fortunately I was too much of a saver (coupled with no major emergencies) too have to act on that permission.

When young, first starting out, it can be difficult to get enough saved up to cover big emergencies. Personally, we were willing to see some of life's difficulties as an adventurous challenge, rather than a dire emergency requiring money or credit immediately. For example, my husband was a motorcycle rider and his motorcycle was trashed (not by him). Money was tight, so he bought a bicycle and rode the 32 mile round trip for work everyday until money was saved for another motorcycle. In those days, if a stove had gone out and we could not repair it, we would have gotten an electric burner/hot pad until we could save for a new stove. Fridge broke? Go to used appliance store after saving a while and eating foods that do not require refrigeration.

Even what you said about dating is a little different than how I thought of things when young. I'm married to a guy who was poor when we first started dating. What the heck-- I was poor, too. We did things like walk in the park, fly kites, visit free art museum, volunteer together, see a free film at a university. At first we actually only went on a date that cost anything about once or twice a month and we spent very little even then. I don't think either one of us would have wanted to be involved with someone who too easily spent money for fun when that money might be needed elsewhere, such as for debt.

[saver17]

Would I have done the same? Probably not. I would have used my savings first and I would not have gone 3 months without a job. There is always work to be found. Getting something temporarily in no way prevents you from taking something better once you find it.

I haven't been out of work for a long time but the last time I was, I immediately began selling on ebay full time. I wasn't making enough to replace my normal income but I was able to bring in a couple thousand dollars per month which helped us stretch out our savings until I got a "real" job again. Had that not been enough to get by, I would have gone out and gotten other work somewhere. Since we had a good emergency fund, that wasn't necessary but I wouldn't have hesitated to do it if it needed to be done.

And,if there was no emergency fund then what?

[disneysteve]

Would anyone else have done the same?

Would I have done the same? Probably not. I would have used my savings first and I would not have gone 3 months without a job. There is always work to be found. Getting something temporarily in no way prevents you from taking something better once you find it.

I haven't been out of work for a long time but the last time I was, I immediately began selling on ebay full time. I wasn't making enough to replace my normal income but I was able to bring in a couple thousand dollars per month which helped us stretch out our savings until I got a "real" job again. Had that not been enough to get by, I would have gone out and gotten other work somewhere. Since we had a good emergency fund, that wasn't necessary but I wouldn't have hesitated to do it if it needed to be done.

[bjl584]

If I didn't have that credit card I would have gotten a crappy job because it was no other options. But that credit card bought me some time and now I'm in a good job with only $2000 more debt to go

Technically, that credit card got you $3000 in debt. A crappy job would have avoided or lessened that debt had you been willing to get one.

If I were looking to "buy time" it would be at the drive-thru window at McDonalds or sweeping a floor. Not via Discover card. But that's just how I would have approached said situation. It sounds like you have already firmly justified the actions that you took, so no point in discussing this further.

[saver17]

Explain. Everyone that earns an income should be able to accumulate an emergency fund if they make a conscious decision to live below their means, sacrifice, and save.

Things breakdown and have to be replaced. Or you can be laid off when you have 1 month of expenses saved up.

So u can always make the plan but the outcome maybe totally different

[saver17]

That's just an excuse. It comes down to how bad you want something and how far you are willing to push yourself to achieve a goal.

Being in a low paying job or multiple low paying jobs is not a prison sentence. How do you know you would be stuck in them? How do you know you would be depressed? Are those facts or speculation? If you are out of work you need to earn money any way that you legally can. Work 2 jobs or 3 if you have to. Never rest. Never stop. Never settle. Any free time that you have will be spend searching for a better job or on self improvement. No. It is not better to sit idle and wait for a job to come along and then pay off your debt. You need to take action immediately. Give up everything, block out all the noise and distractions, and laser focus your actions toward your goal. Be obsessed with it.

If I didn't have that credit card I would have gotten a crappy job because it was no other options. But that credit card bought me some time and now I'm in a good job with only $2000 more debt to go

[bjl584]

Everyone is not able to have an emergency funds account. Of course it would be nice to have but sometimes life gets in the way.

Explain. Everyone that earns an income should be able to accumulate an emergency fund if they make a conscious decision to live below their means, sacrifice, and save.

[bjl584]

If you get two crappy jobs then you are stuck in them and then you don't know when you will get that real job again. Isn't it better to find a full time job and then you only have to clean up $3000 in debt?

Or have $0 debt and working two crap jobs leading to depression?

That's just an excuse. It comes down to how bad you want something and how far you are willing to push yourself to achieve a goal.

Being in a low paying job or multiple low paying jobs is not a prison sentence. How do you know you would be stuck in them? How do you know you would be depressed? Are those facts or speculation? If you are out of work you need to earn money any way that you legally can. Work 2 jobs or 3 if you have to. Never rest. Never stop. Never settle. Any free time that you have will be spend searching for a better job or on self improvement. No. It is not better to sit idle and wait for a job to come along and then pay off your debt. You need to take action immediately. Give up everything, block out all the noise and distractions, and laser focus your actions toward your goal. Be obsessed with it.

[saver17]

Thanks for the update and outline of how you acquired a $ 3K debt. I hope you'll give clearing this priority so you can move on to new priorities. Are you willing to take on any extra part time job short term to get 2016 expenses gone.
I hope it's ok to mention a long standing, easy money management plan that many use. What ever net income, what ever the source allocates 5% Savings [pay yourself 1st], 50% Needs [rent, utilities, food, transportation], 45% Wants [car payments, entertainment/restaurants, clothes, gifts, travel]

The challenge I'm faced with is how do you save, and date at the same time

[snafu]

Thanks for the update and outline of how you acquired a $ 3K debt. I hope you'll give clearing this priority so you can move on to new priorities. Are you willing to take on any extra part time job short term to get 2016 expenses gone.
I hope it's ok to mention a long standing, easy money management plan that many use. What ever net income, what ever the source allocates 5% Savings [pay yourself 1st], 50% Needs [rent, utilities, food, transportation], 45% Wants [car payments, entertainment/restaurants, clothes, gifts, travel]

[saver17]

It sounds like you did what you needed to do to keep a roof over your head. At least you have a plan to get the card paid off.

This situation makes a strong argument to have an emergency fund in place. If you had, then you wouldn't have needed to use a credit card to get by until a new job came along.

If it were me, I would have had an emergency fund to draw from until I found employment. I also would have taken the first job that I could find even if it were low paying. A bad job is better than no job at all. I would have gotten two crappy jobs if I had to. While working and making money any way that I could I would have searched for a better job.

If that was your only option then you did what needed to be done. Pretty straight forward imo. I would have done the same if that was my only choice.

I was trying to avoid going back home with mom

[saver17]

It sounds like you did what you needed to do to keep a roof over your head. At least you have a plan to get the card paid off.

This situation makes a strong argument to have an emergency fund in place. If you had, then you wouldn't have needed to use a credit card to get by until a new job came along.

If it were me, I would have had an emergency fund to draw from until I found employment. I also would have taken the first job that I could find even if it were low paying. A bad job is better than no job at all. I would have gotten two crappy jobs if I had to. While working and making money any way that I could I would have searched for a better job.

If you get two crappy jobs then you are stuck in them and then you don't know when you will get that real job again. Isn't it better to find a full time job and then you only have to clean up $3000 in debt?

Or have $0 debt and working two crap jobs leading to depression?

[saver17]

It sounds like you did what you needed to do to keep a roof over your head. At least you have a plan to get the card paid off.

This situation makes a strong argument to have an emergency fund in place. If you had, then you wouldn't have needed to use a credit card to get by until a new job came along.

If it were me, I would have had an emergency fund to draw from until I found employment. I also would have taken the first job that I could find even if it were low paying. A bad job is better than no job at all. I would have gotten two crappy jobs if I had to. While working and making money any way that I could I would have searched for a better job.

Everyone is not able to have an emergency funds account. Of course it would be nice to have but sometimes life gets in the way.

[rennigade]

If that was your only option then you did what needed to be done. Pretty straight forward imo. I would have done the same if that was my only choice.