Do You Hate Debt....do You Loath Credit Cards...please Rant Here.

Discussion in 'Financial Planning' started by Sourdough, Jul 18, 2019.

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  1. Sourdough

    Sourdough "ALASKAN"
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    If you hate debt, if you loath owing money, if you "HATE" Credit Cards, if you "LOATH" credit card companies and Banks. Please post about it here. This is the special place to rant about debt, credit cards, mortgages, loan sharks.

    Especially all things negative about money, banks, your mother in-law, etc..
     
  2. Sourdough

    Sourdough "ALASKAN"
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    Bump to jump........Please DON'T say anything nice about debt, or mortgages, or credit cards, or your mother-in-law.
     
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  3. TMT Tactical

    TMT Tactical The Great Lizard !
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    I have one credit card and we maintain a zero balance. No debt. It is not that I dislike banks or lending institution, they are just like any other business, out to make a profit. No cable TV. OTA TV. No high priced smart phones, flip phone. Eliminate or control debt, that is the secrete to a good life.
     
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  4. Radar

    Radar Expert Member
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    loathe, detest, despise, abhor...
    things are changing in my little pocket for the better but I have had nasty experiences with all of it.
    debt. bleh.
    mortgages, not right now. I don't have much good to say about rentals either. Owning my own house again would be so sweet.
    Credit cards, they really do enslave some people. They get way more back than what they should be allowed to get back from us. My debt is not too bad right now. I think it is almost the best it has ever been unless we go back to just married and the first five years or so.
    Mother-in-law...I won't say anything because I don't have anything rude or nasty to say about her right now.
     
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  5. NomadWill

    NomadWill Expert Member
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    I hate debt, I hate credit cards, but I also love having Credit Cards. It's a vicious cycle.
     
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  6. lonewolf

    lonewolf Moderator Staff Member
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    some people pay off their credit card debts by taking out another credit card.
    the average personal debt in the UK is about £15,000 for every man, woman and child in the country, that dosent include mortgages or rent arrears.
    I have no debt(neither does the wife), credit card is only used to buy stuff online, never leaves the house, and is paid off in full at the end of each month.
     
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  7. Morgan101

    Morgan101 Master Survivalist
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    Credit Cards and Banks are a necessary evil. You can't live without them. Sorry IBME. I know you are probably living just fine without them, but the rest of us need them. How many employers have forced people to go to direct deposit? Going to buy a house? Almost certainly you are going to get a loan through a bank. I am not a big fan of buying anything on line, but when you do you have to have a credit card. Ever try to rent a car without a credit card? Good luck.

    Credit Cards have to be managed. If you pay off the balance every month you are fine. They can spin out of control faster than you can imagine. Sometimes you just need them; getting that tank of gas when you don't have cash, or some repair bill that was unexpected. You have to have the self discipline to restrict the use.

    Again, sorry IBME, my Mother-in-Law was a saint. God rest her soul. She treated me like her own, and we never had a cross word. I couldn't have had a better one.
     
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  8. lonewolf

    lonewolf Moderator Staff Member
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    we were taught growing up if we wanted something to save up for it, the one thing my late father told me on my wedding day was "don't get into debt".
    I don't buy anything with a credit or debit card unless I have the money in the bank to cover it.
    that's the problem with (British) people today, they put everything on the credit card even if they cant afford to pay off the debt, that money will eventually have to be paid back and the card company can ask for it at anytime. and that can end up in the courts with people losing everything include their house, extreme case I know but it does happen. Baliffs are just the start. I know someone that this happened to.
    I don't understand people who don't put money back "for a rainy day", same with having a store cupboard for "emergencies".
    it just isn't worth the risk.
     
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  9. watcherchris

    watcherchris Master Survivalist
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    LOL LOL LOL>......textbook of todays thinking........textbook...

    Todays Paper monies....paper currency ..is a bill of credit...interest bearing credit note...a debt instrument.

    Cash means coin...not debt instruments.

    Not sure what some of you are thinking here....


    This might have been different when the notes used to state on the bottom of them.."Will Pay To The Bearer On Demand."

    But not today wherein this promise to pay in specie has been removed.


    Legal Tender is a debt instrument...credit...It is not the same thing as lawful money.

    This will never be taught in public schools through college.....not going to happen.

    This kind of thing is Ishmael....Ishmaelite Bondage..


    My non Ishmaelite .02,
    Watcherchris
     
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  10. lonewolf

    lonewolf Moderator Staff Member
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    I think the thread was talking about debt not cash notes or coins Chris, credit cards etc.
     
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  11. watcherchris

    watcherchris Master Survivalist
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    Lonewolf....

    Fractional Reserve banking depends on borrowing enough monies to pay not only the principal..but also the interest on the fiat money..

    Not at all different from a credit card..but no one is educated to think about it or in this manner....

    After all....we have "Experts" to do our thinking for us in this arena.

    As I stated..Not sure what some of you thinking.. or if thinking is going on at all ???


    If you think this is a non sequitur....watch what is happening with the Federal Reserve Bank...in particular if Trump gets re elected..

    Our Federal Reserve Banking System is a branch bank ....of the Bank of England and has been from it's beginning ...in 1913....bondage by issuing debt instruments as currency. The National Debt....interest on the debt.

    Someone is trying very hard to keep this low key or out of the press.


    My non Ishmaelite .02,
    Watcherchris
     
    Last edited: Jul 19, 2019
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  12. Sonofliberty

    Sonofliberty Master Survivalist
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    I used to do the credit thing. Now, I am completely debt free with a credit score of zero. When my ex and I split, she left me with major debt. She ran up all of my cards to max. Emptied my checking account of $28,000 and bounced a couple more checks. Then, I got to pay all of the legal bills for both of us. She also got the house while I had to finish paying it off. No debt, never again. I did recently get a debit card for online purchases. I will get rid of it before I leave here, but some things are just not available at a decent price in physical stores locally.
     
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