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.
I am starting all over again, but slowly digging my way out of debt, I paid off my power bill, and got on an equal payment plan, I pay $139/mo
I pay $25/mo for a ll phone,
my house pymt is $152.00/mo.
now I got approved for a cc, I just sent off my first pymt, and am happy to be building a better future for myself. I want to be careful in using my new found responsibility, any suggestions?
I don't know if it was wise to accept this responsibility at such a early stage in debt reduction, but I want some proof of credit. I guess I should have came here and asked before accepting. But here I am with a cc, I really need some pointers.
such as what is a reason to use a cc? I know that sounds dumb, but my thinking was use it only for gas? food? emergencies?
I see a lot of people use it for holidays and gifts? but from what money forums say we should use our special savings for that.
my food bill is roughly 300/mo
and so far my children/household neccessities, come to $100 every payday,
Some encouragment, and support is needed.
I am a single mother, with 1 adult child, 1 teenager, 1 pre teen, and 1 grade schooler, no car payments, and I am paying to own my house.
I pay $25/mo for a ll phone,
my house pymt is $152.00/mo.
now I got approved for a cc, I just sent off my first pymt, and am happy to be building a better future for myself. I want to be careful in using my new found responsibility, any suggestions?
I don't know if it was wise to accept this responsibility at such a early stage in debt reduction, but I want some proof of credit. I guess I should have came here and asked before accepting. But here I am with a cc, I really need some pointers.
such as what is a reason to use a cc? I know that sounds dumb, but my thinking was use it only for gas? food? emergencies?
I see a lot of people use it for holidays and gifts? but from what money forums say we should use our special savings for that.
my food bill is roughly 300/mo
and so far my children/household neccessities, come to $100 every payday,
Some encouragment, and support is needed.
I am a single mother, with 1 adult child, 1 teenager, 1 pre teen, and 1 grade schooler, no car payments, and I am paying to own my house.
That way you are using your CC regularly and paying off in full every cycle. This will build your credit better that holding it for emergencies only and taking months to pay it down.
But if you have an emergency, use it if you must. But you will have a history with the CC company of paying the balance off promptly.
I just made an online payment on our creditcard. It seemed big - but it was 4 weeks worth of many of our budgeted items (gas, groceries, cable connection and bridge toll pass).
BTW - if anyone you pay charges a fee to be paid by CC, pass on that!
Congrats on the progress you're making!
There are a lot of free online financial tools where you can track your spending and keep track of your money. I happen to use Quicken but I know a lot of people really like mint.com