Money Saving Habits

[Singuy]

I agree that Credit Cards have many traps.

-0% balance transfer..but charges you 3% to do the balance transfer

-Min payment...based on a 30 year repayment plan in which your 99.5% of your payment goes toward interest if you have a 30% apr.

-Spend X amount in 3 months to get 50000 points! People spend stupid amount of money just to get the 50k points..not knowing how to pay off a fully floated credit card debt

So are CC evil? Sure isn't. It rewards those who are responsible and punish those who are not. All things in life works this way. Are you calling your auto insurance company evil for raising your rates when you have amassed many speeding tickets and car accidents?

I mean you have the convenience of not having to carry cash, it protects you from fraud, gives you rewards, and let you borrow at 0% interest for 30 days.

Over spending when using a CC is a personal problem. No one forced you to buy that TV or go to that bar. If you are easily tempted and can't help yourself from overspending, then perhaps you should seek help to fix your psychological issues first.

[tripods68]

Tripods - you are beating a long dead horse. This was an interesting conversation until you started trying to convert everyone to your way of thinking and it just isn't going to happen.

I get it.
I've been in this forum for a long time. I'm trying to make a point across loud and clear--hoping people see where I stand about credit cards. If people ask questions, I will respond respectfully and debate things with people. That's all.

[tripods68]

How about YOU?

If you are paying cash, why not save that cash and use CC, then pay it off. With auto bill pay, you don't even need a stamp or check.

CC also gives you an easysafety net against unscrupulous merchants selling you falsely represented items.

I use debit cards a lot too, gas, and groceries. Not all of we carry cash. But you get the same fraud protection when you use debit using Credit side where you don't have to enter your PIN card. I don't need my CC for that.

Why not use the CC instead of cash? Its about principle for me for the last couple of years before we got rid all our consumer debt. Both of us (wife) vowed we not use credit card again EVER.

[corn18]

Why not use the CC instead of cash? Its about principle for me for the last couple of years before we got rid all our consumer debt. Both of us (wife) vowed we not use credit card again EVER.

And that is great for you and your wife.

I think everyone might be violently agreeing with each other.

Cash is great if you can't manage your credit properly or you choose not to use them for yourself. It has some inconveniences.

Credit cards are great if you pay them off every month. The rewards and other benefits are a bonus.

I think we should all stop trying to convince the other's to convert to their position and rather, discuss the merits and pitfalls of each. Might avoid a lot of angst.

Tom

[disneysteve]

I think everyone might be violently agreeing with each other.

I think we should all stop trying to convince the other's to convert to their position and rather, discuss the merits and pitfalls of each. Might avoid a lot of angst.

Well said, Tom.

Let's move on, folks. Let's agree to disagree on some of these points and get back on track.

[tripods68]

Well said Tom!

[rennigade]

How did this thread make it to 6 pages. Always amazes me what discussions get a lot of replies.

[disneysteve]

The most terrible thing today is gift cards.

Many people buy them at a significant discount; making the non-gift card users pay more. I might feel better if I'm on the other side, but since I don't use gift cards, it annoys me : )

Can you explain what you mean here?

[DaveInPgh]

The most terrible thing today is gift cards.

Many people buy them at a significant discount; making the non-gift card users pay more. I might feel better if I'm on the other side, but since I don't use gift cards, it annoys me : )

Like Steve, I am confused by this one

For many of my large $ purchases, I used gift cards purchased on eBay at a discount. Materials for home improvements. Lawn tractor. Appliances.

[AJ444]

The main thing that keeps me on track is a yearly agreed upon budget with my wife. I log each purchase in excel and assign a category and have a YTD summary page where I can see if we are over/under spending. We still go over in certain categories but having that checkup each months helps us know where we are at.

[disneysteve]

Like Steve, I am confused by this one

For many of my large $ purchases, I used gift cards purchased on eBay at a discount. Materials for home improvements. Lawn tractor. Appliances.

We use them for lots of things, not just big purchases. I regularly buy a Target gift card for a couple hundred dollars and my wife uses it for her regular Target runs for household stuff, cleaning supplies, etc. When it runs out, I buy another one. She also does a lot of sewing and quilting and I buy her JoAnn Fabric cards for that. It's tough to pass up 15% off on top of any sales and coupons. 10% off at Home Depot. 22% off at Olive Garden. 20% off at the movies.

This has absolutely no effect on what anyone else pays since these cards are being sold on the secondary market. The merchant got full price when they were sold originally.

[Nutria]

It's tough to pass up 15% off on top of any sales and coupons. 10% off at Home Depot. 22% off at Olive Garden. 20% off at the movies.

This has absolutely no effect on what anyone else pays since these cards are being sold on the secondary market. The merchant got full price when they were sold originally.

That just smells to me so much of buying stolen property...

(EDIT: Not that I think you do so on purpose. More as on the seller's side.)

[disneysteve]

That just smells to me so much of buying stolen property...

LOL. Yep, I was very skeptical when it started but these places are legit. They've done numerous stories on this on shows like Good Morning America, local news shows, anywhere when they're talking about novel ways to save money.

[disneysteve]

I would add that I've sold numerous gift cards over the years (that were not stolen ) so I get how this works.

[Nutria]

I would add that I've sold numerous gift cards over the years (that were not stolen ) so I get how this works.

Why do you sell them at such a discount?