We dont own a credit card, if I dont have cash then I dont buy it .
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07-11-2013 13:51 #21
07-11-2013 13:55 #22
We live a little above our means, meaning we have a small credit card debt - less than $5000
We pay it off totally every couple month but always end up using it again.
07-11-2013 13:56 #23
Yes we do. Sometimes I'd be happy to go into a little debt (we have a mortgage but I don't really count that) for things like renos or big holidays, as long as there was a plan in place to pay it back, but the idea freaks DP out.
I've been off on mat leave this year and we've barely dipped into our savings. We haven't saved anything extra, but being in the same place financially as we were a year ago I think is a major achievement. Especially since we managed 2 rather nice holidays this year as well!
I know loads of people who don't live within their means, lots of them have mortgages bigger than they can manage. We bought at the lowest price possible without worrying about how nice the place is- our place isn't particularly nice and is very small but I think better to live in a bit of a dump for a while and still be able to take time off with the kids, still go on holidays occasionally, not stress about getting a haircut etc.
07-11-2013 13:57 #24
Yes, I think so. I have a credit card for convenience and pay the balance every fortnight. I have a mortgage and a car loan, and I am well ahead on the repayments for both. I also have a lot of savings which I don't touch as I work on contract and never know if/when I'll be out of work and for how long.
07-11-2013 14:00 #25
We live within our means we have never had a credit card and never will. We are struggling badly at the moment and it sucks that we miss out on alot and cant buy new clothes or get regular hair cuts. But our kids have more than what they need and we have the essentials all paid by cash. Im glad we dont have the extra bill of a cc to stress about. Hoping to come out of this slum in the next few months!
07-11-2013 14:01 #26
I think I'm trying to support a lifestyle I can't afford. Hard to get out of it though. Especially in this financial climate. We set up a life on two incomes and then dropped one. We are fine, but I know we could be better.
07-11-2013 14:22 #27
Yes we do. We have a credit card however that is paid off monthly and used to generate FF points.
We stick to a budget and plan our monthly, 6 monthly, and yearly saving goals.
07-11-2013 14:24 #28
Nope. $2000 overdraft and $1000 cc and both are maxed. I've been redrawing off the mortgage to pay everyday expenses. I need to sort ourselves out.
07-11-2013 14:24 #29
Yes and no. We can pay bills but are getting no where with savings and mortgages. It's so hard. We accumulated debt when we were child free earning $200 000 a year and could afford it. Now we earn less then half this but still have the same debt plus the cost of 3 kids so we get no where other then just managing to stay afloat.
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07-11-2013 14:25 #30
Having a credit card doesn't mean you don't live within your means. Mine gets hammered every month. Everything goes on there. But I've never paid a cent of interest. I actually save money from using it due to frequent flyer points, free travel insurance, etc.
It's a financial tool that if used appropriately is fantastic. Unfortunately lots of people misuse it.
We absolutely live within our means and always have. Including having a mortgage we can afford (the bank would have given us a lot more!).
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