Financial Challenges Support Group
This community is for people who are struggling to meet financial obligations of any kind. Financial challenges include everything from the day-to-day challenges of making ends meet to managing credit card debt to bankruptcy. Get support from others who are going through similar obstacles on the road back to financial stability.
A few years ago my ever-so -wise mother told me to get my own credit card so I'd have my own credit, esp since Mark doesn't support me financially in any way .
I got a Visa card and religiously paid it off every month. I had a dental emergency last Nov, and decided to put it on the card rather than deplete my savings. I told a few people that I was doing this,,but couldn't pay the whole amount in a month.
They all said ""It's good to have a small balance on your credit card and pay what you can each month. That way you're showing the CC people that you can be counted on to make payments." A financial guy even said by doing this, I'd have better credit.
Has anyone heard this? It's certainly easier to pay 100 dollars ( or what I want to - a lot more than the minimum amount) , but I need the best credit due to Mark's non-support . -Holly
I got a Visa card and religiously paid it off every month. I had a dental emergency last Nov, and decided to put it on the card rather than deplete my savings. I told a few people that I was doing this,,but couldn't pay the whole amount in a month.
They all said ""It's good to have a small balance on your credit card and pay what you can each month. That way you're showing the CC people that you can be counted on to make payments." A financial guy even said by doing this, I'd have better credit.
Has anyone heard this? It's certainly easier to pay 100 dollars ( or what I want to - a lot more than the minimum amount) , but I need the best credit due to Mark's non-support . -Holly
-
I know this is stupid, but after not being able to find a job after graduation for almost two years, I ended up just taking an online teaching job because I couldn't find anything in my field. I was trying to get out of teaching and I feel so devastated. I felt this crushing feeling when I signed the paperwork and when I was in the meetings. I know that sounds so dramatic but it is how I felt. It...
-
Tomorrow is National Massachusetts Day!Have you ever lived in or visited Massachusetts? If so, tell us what's great about the Bay State!
Paying off you balance every months shows you are not living beyond your means (a good thing), it decreases your debt to credit limit ratio (a good thing).
I don;t get the "That way you're showing the CC people that you can be counted on to make payments." Like making full payments doesn't do the same thing.
The only thing that is not advised is to not use your cc at all. Use your credit responsibly - that is the best way to increase your score.
I used to buy soda on sale. It was a great deal... a case of Diet Coke for $4... I'd get four or five cases and pay it with a credit card. I bought so much stuff because they were a once in a lifetime sale and I got it all with a credit card.
It took me a long time to figure out that the cost of that $4 case of soda ended up costing me $10 each by the time I paid the credit card bill. It was crazy...
For me, when I started getting out of debt I did not use a credit card for anything under any circumstance. I went a little over a year without using one... and now when I do use one, it is in my mindset that no matter what it is paid in full every month.
If you can survive without using one - don't use it. The less you rely on one, the more creative ways you will find to "save" money elsewhere...
To me anymore a credit card is a way for me to manage my life in an easier fashion... it is not a form of money. And when I got to that realization I found my freedom from money. No longer was I working for money, instead money began working for me...
Good Luck!
I sincerely hope you have just one Credit Card. I remember having a Credit Card that was constantly maxed out (limit was 2,000) until I received Inheritance from my Grandfather when my Brother turned 18. However, the money disappeared after 5 Years through my Brother having little financial limits (I was co-dependent on him back in 2007/2008) and being unable to find work. Now I have a Prepaid Credit Card (where I save Benefit Payments) and a Debit Card with a Current Account. (Thanks to a released Bond my Grandfather had placed in my name)
The best way is to contact an advice group. (UK has Citizens Advice Bureau) They can advise you how to deal with Creditors in a responsible manner. Personally, I'm a member of Debtors Anonymous and have found tremendous support there.
Hope you get you finances ironed out.