Comments on: What I’m Talking About When I Talk About My Credit Card Debt

By: josefinastrummer

josefinastrummer — Thu, 29 Nov 2012 16:22:10 +0000

@AliceS Do you live in America? Where does your credit rating come from? Also, what do you do for a living and are you getting any help from family or friends?

By: AliceS

AliceS — Thu, 29 Nov 2012 08:31:54 +0000

I’ve never owned a credit card in my life. I’ve rented cars, stayed at nice hotels, bought plane tickets, rented apartments, applied for short term loans sometimes and got a home loan. Basically, I can do everything people say you need a credit card to do. I’ve also had my share of unexpected expenses. Emergencies happen. That’s what my emergency fund is for. I have never owned a credit card and I’m doing just fine. So why does anyone need a credit card?

By: nadineB

nadineB — Sat, 08 Sep 2012 05:53:11 +0000

Many people have likely heard of the “snowball” debt method, a debt reduction strategy which emphasizes results-based reinforcements. A study was recently released that indicates there is some merit to it. The debt-snowball method of debt repayment is a form of debt management that is most often applied to repaying revolving credit — such as credit cards. Under the method, extra cash is dedicated to paying debts with the smallest amount owed. As each smaller debt is repaid in full, the money used to pay that debt is then applied toward making additional payments on the next-smallest debt, and so on until all debts are repaid.

By: sara moon

sara moon — Wed, 02 May 2012 09:00:45 +0000

Logan, I can’t tell you how strangely comforting I found this.

Generally when I hear people talk about their credit card debt, I feel even worse because they are so horrified with how much they owe but it’s usually around $5000 if not less, whereas I currently have about $18000 in credit card debit and am only 23. I haven’t really got much to show for it either. There are some car repairs in there and some travel, probably a few pairs of shoes but the rest of it is mundane things like make up and taxi rides which I’m sure I wouldn’t have missed had I just not had them.

It’s only recently that this has really started bothering me. I thought it was all part of being in your 20s, being a student and not really having your life worked out yet and that I would just pay it all back once I graduated and got a “real job”. But now I am seeing what a big impact it really has on my life. There are so many things my friends can do which I can’t do because I have that debt to pay. I can’t afford to move to a nicer place, I can’t get a new car because I wouldn’t be able to afford the repayments (or be approved for the loan), I can’t take 6 months or a year out of my life after I graduate and roam around the world like some of my friends have been able to do.

Like you the reasons I got myself into this situation are varied and complicated (living beyond my means and a lack of self control are just the beginning) but the time has come to get serious about paying off my debt so that I can put it behind me. You do it and I’ll do it.

By: AnnieNilsson

AnnieNilsson — Wed, 02 May 2012 00:29:24 +0000

@girlsownlove Lol, I think you’re spot on with the mom usage. Though my mom would probably giggle if she ever said the words “bling” or “the bomb.” She’d think she was being “edgy!”

By: girlsownlove

girlsownlove — Wed, 02 May 2012 00:12:35 +0000

@AnnieNilsson hahah first i read it like “I’m asking for you to be my friend” but then i read it like “I have a friend who wanted to know if people still say the bomb, it wasn’t really me” – it was the second one right? I mean, people still say it… but probably those people are our moms? like bling? it’s mom territory, but maybe it could have a recent-retro resurgence?

By: AnnieNilsson

AnnieNilsson — Wed, 02 May 2012 00:09:55 +0000

@girlsownlove They should be! We are pretty much the bomb. (Do people still say, “the bomb”? Asking for a friend)

By: girlsownlove

girlsownlove — Wed, 02 May 2012 00:04:40 +0000

@AnnieNilsson hurray! now that the seal is broken, you will be happy for all kinds of friendships that don’t involve you! I bet people are excited about this friendship developing as we speak!

By: Limaceous

Limaceous — Tue, 01 May 2012 23:29:58 +0000

@Mirch Also, I didn’t mean for my previous reply to sound so bitchy.

But I have traveled to India, and while it was a life-affirming adventure, it didn’t really recalibrate my money compass. You are probably a better person than me.

By: Limaceous

Limaceous — Tue, 01 May 2012 23:26:51 +0000

@Mirch But what about the Kurds?

(Also, Logan doesn’t need to spend money on another vacation. No matter how life-affirming.)