For anyone considering credit cards

I strongly would recommend anyone who has just filed bankruptcy and are considering getting credit cards to visit the site below and purchase this mans book. This man is pretty much a financial genious. He offers no get rich quick schemes and gives sound financial advice. His books are very very helpful and you would be amazed at what his money plans can do if you follow them. His books are also cheap. He sells a set of 14 cds talking about everything from dumping debt to investing and making sound purchases. One of his many good books that work is selling for 10.00 right now. I would strongly encourage anyone to purchase this book and give it a shot. Hell at least go to your nearest book store and sit down and skim through the book for 10 minutes.

[QUOTE=mike9302]I strongly would recommend anyone who has just filed bankruptcy and are considering getting credit cards to visit the site below and purchase this mans book. This man is pretty much a financial genious. He offers no get rich quick schemes and gives sound financial advice. His books are very very helpful and you would be amazed at what his money plans can do if you follow them. His books are also cheap. He sells a set of 14 cds talking about everything from dumping debt to investing and making sound purchases. One of his many good books that work is selling for 10.00 right now. I would strongly encourage anyone to purchase this book and give it a shot. Hell at least go to your nearest book store and sit down and skim through the book for 10 minutes.




ABSOLUTELY NOT. That man is the most arrogant SOB I have ever seen in my life.
He is not a genius, and he lives in a fantasy world. He also makes millions of dollars a year, and can afford to live "debt free."

Give me a break please.

I would strongly suggest you keep your opinions to your self.

The man is good and knows what he is talking about. I laugh at people who want to get credit right after a bankruptcy. You declared in the first place because of credit and now you run right from the court to see who will be the first person to give you credit again. Thinking you need credit just to survive is crazy and I used to think it is a necessity to survive. But I used to have a visa debt card that I would make 100.00 a month payments to and now I put that 100 a month in a savings account and make my own intrest even though the intrest rate is something else to laugh at. The mentality of some people is insane. I mean these days gas is going up, companies are moving overseas, hours are being cut, and pay is not going up but you want to run out charging up a credit card. Me I am putting my money in savings so if I run into a layoff I am not going to have Visa calling me day and night. I may have my cable company call me threatening to shut off service and I will say go ahead. My gf wanted to start getting credit cards and after talking to her she agreed they are stupid. The first thing I asked her is why do you want one? I mean your getting by ok right now without them so why get one and she looked puzzled for a second and said because everyone else is getting them.

I would strongly suggest you keep your opinions to your self.
Because you missed it the first time.

The man is good and knows what he is talking about. I laugh at people who want to get credit right after a bankruptcy. You declared in the first place because of credit and now you run right from the court to see who will be the first person to give you credit again. Thinking you need credit just to survive is crazy and I used to think it is a necessity to survive. But I used to have a visa debt card that I would make 100.00 a month payments to and now I put that 100 a month in a savings account and make my own intrest even though the intrest rate is something else to laugh at. The mentality of some people is insane. I mean these days gas is going up, companies are moving overseas, hours are being cut, and pay is not going up but you want to run out charging up a credit card. Me I am putting my money in savings so if I run into a layoff I am not going to have Visa calling me day and night. I may have my cable company call me threatening to shut off service and I will say go ahead. My gf wanted to start getting credit cards and after talking to her she agreed they are stupid. The first thing I asked her is why do you want one? I mean your getting by ok right now without them so why get one and she looked puzzled for a second and said because everyone else is getting them.

I am with JeepMom also.

I strongly suggest that you keep these comments to yourself. 99.9% of us did NOT file because of excessive credit card use, and I don't appreciate you lumping me into a group that did.

I suggest you find another board to harass.

Mike if you haven't ever filed bk and make $23,000 a year and your finances are all in order why do you keep posting? You haven't been where any of us are so who can you give advice to?

I was there once with you people and I know the feeling. I am sorry but most people declare bankruptcy because the make bad financial decisions or rack up a lot of debt with loans and debt cards. Most of you people are knocking me right down and I get the same from real life people who look at me like I am crazy because I dont get credit cards and they try to convince me that I need them. I am learning that they are not a necessity and I am saving every month to one day buy me a home. Sure a mortgage is necessary in most cases but if you have enough to put down you will get a loan whether you have ever had a credit card or not.

Well, I'm getting a house now, making money now, saving on my taxes now.

So, you are king dippy doo for waisting your money by delaying the building of credit.

And he can't read Forum Rules either. No solicitations allowed.

I reported his post with the link. We'll see how long it lasts before Minny's magic fingers do the trick.

I was there once with you people and I know the feeling. I am sorry but most people declare bankruptcy because the make bad financial decisions or rack up a lot of debt with loans and debt cards. Most of you people are knocking me right down and I get the same from real life people who look at me like I am crazy because I dont get credit cards and they try to convince me that I need them. I am learning that they are not a necessity and I am saving every month to one day buy me a home. Sure a mortgage is necessary in most cases but if you have enough to put down you will get a loan whether you have ever had a credit card or not.


Actually, Mr. Smarty, only 7% of Bankruptcy cases are because of poor financial decisions.

MOST cases are due to job loss, medical reasons, and divorce.

I suggest you do more research before making anymore stupid and ignorant comments like you have spewed here.

Sounds like our new "guy" needs to apply for a job as "an apprentice" for Donald Trump....... then he wouldn't have to file Chapter 11 anymore......

Just my thought

OH LORDY !!! THE OLD MIKER STRIKES AGAIN !!!


BLAH BLAH BLAH !! :beee:



He's way to much of a jerk to be for real !!! What pointless statements you make Mike..I dated a guy named Mike once, and I could not STAND HIM !!! Maybe it's something with the name ??

Humm......:beee:

Hmmm only 7% of bankruptcys are for bad financial decisions... Funy how the national credit card debt has reached 1 trillion and steadily going up. I think myabe more like 77% for bad financial moves or heavy credit card debt. I dont care if I get banned because you people are financial morons.

If you think we're morons, why bother coming here?

Hmmm only 7% of bankruptcys are for bad financial decisions... Funy how the national credit card debt has reached 1 trillion and steadily going up. I think myabe more like 77% for bad financial moves or heavy credit card debt. I dont care if I get banned because you people are financial morons.

If we're morons, and you're 'smart', lol... So wtf was your point again? Go somewhere where you can act like you're better than everyone else and anyone cares.

Hmmm only 7% of bankruptcys are for bad financial decisions... Funy how the national credit card debt has reached 1 trillion and steadily going up. I think myabe more like 77% for bad financial moves or heavy credit card debt. I dont care if I get banned because you people are financial morons.


Have you ever heard of medical bills, medication, job loss, or divorce? Or do you just live in a perfect fantasy world that only YOU can exist in and that's why you are still in your parent's basement at 40 years old causing trouble?

And I believe the word you were looking for is "funny."

I suggest you do your research before you spout off any more ignorance and trash like that.

And like others have said, "what the hell are you doing here if we're all morons anyway?!"

Hmmm only 7% of bankruptcys are for bad financial decisions... Funy how the national credit card debt has reached 1 trillion and steadily going up. I think myabe more like 77% for bad financial moves or heavy credit card debt. I dont care if I get banned because you people are financial morons.

I do understand there are alot of irresponsible people out there who intentionally abuse CCs, however after being on this board for a while now, the majority of us are not here due to CC abuse....lot are her due to many other reasons. My hubby and I for one, reluctantly came to the decision after trying to pay thousands upon thousands of unforeseen medical bills. My child was born with special needs (is 10yrs now), and takes monthly medications. I have had years of Physical therapy, multiple surgeries, and loss work due to an accident. We only had one CC (balance was under $500). So we for one DID NOT contribute to the national 1 trillion $ CC debit, you refer to:dry: .
All of the people here have not come to the their decisions lightly either. As it sounds you think you are so much better than us, and supposedly so money savvy that you won't have to worry about debt. Just because YOU may think this, does NOT give you the right to call us or anyone "financial morons".

If you do not agree with OUR decisions or OUR choices...then let it be..it is OUR lives, NOT YOURS!! Nor are we looking for OTHER people's approval!


BE GONE!!!!

and that's why you are still in your parent's basement at 40 years old causing trouble

lol!

lol!


Sorry. I just can't help myself.

He probably sits in front of his computer in his Superman undies, eating crap, drinking beer, and looking at porn when he's not harassing poor innocent people on the web all day.

My guess? Never had a real job, never lived in the real world, and has never even lived on his/her own. ;) Just a thought.....

Oh I am sure that some people come upon lots of unforseen medical bills and have no choice but bk. I dont claim to be better than anyone else and I dont live at home. I like reading some of the peoples stories on here and advice people give because some of the stories I can feel the pain because I struggled through debt but made it through. Also I have read some people on here who have filed bk and have learned from there mistakes and are doing much better now. But why right after bk do you want to run straight back to the credit cards and loans? Why not learn to live off of what you make? Invest some of your money and make intrest for yourself and have something in the bank instead of the cc companies getting all your money. Wouldnt it be nice after a year to have that nice lump sum in a savings account that is yours and building intrest or would you rather some greedy card company get your money. I know I will just be steadily attacked on here and do I really care... No but just think about for a second what you pay per month in payments and intrest on those loans and then add up those payments and calculate it to see what you would have in a savings account after a year. I am sure some of you will think that would be nice and others will continue to bash me. But hey I dont care. I love living in my fantasy world of not having credit cards and not having to pay all those card payments monthly then worrying how I am going to put gas in my truck or come up with the rent money. I am 24 with a paid for truck, and the only bills I have every month are utilities, rent, insurance, and food. I make 23,000 a year but have managed to save about 12,000 in a higher yield savings account with ING Direct which I would recommend to anyone. I was paying at one time 250 a month for my truck note but now but 250 a month and usually more into my savings account. But for those willing to listen and think about it why jump back into credit cards right after freeing yourself from them? Why not build some wealth and financial peace for yourself.

Oh I am sure that some people come upon lots of unforseen medical bills and have no choice but bk. I dont claim to be better than anyone else and I dont live at home. I like reading some of the peoples stories on here and advice people give because some of the stories I can feel the pain because I struggled through debt but made it through. Also I have read some people on here who have filed bk and have learned from there mistakes and are doing much better now. But why right after bk do you want to run straight back to the credit cards and loans? Why not learn to live off of what you make? Invest some of your money and make intrest for yourself and have something in the bank instead of the cc companies getting all your money. Wouldnt it be nice after a year to have that nice lump sum in a savings account that is yours and building intrest or would you rather some greedy card company get your money. I know I will just be steadily attacked on here and do I really care... No but just think about for a second what you pay per month in payments and intrest on those loans and then add up those payments and calculate it to see what you would have in a savings account after a year. I am sure some of you will think that would be nice and others will continue to bash me. But hey I dont care. I love living in my fantasy world of not having credit cards and not having to pay all those card payments monthly then worrying how I am going to put gas in my truck or come up with the rent money. I am 24 with a paid for truck, and the only bills I have every month are utilities, rent, insurance, and food. I make 23,000 a year but have managed to save about 12,000 in a higher yield savings account with ING Direct which I would recommend to anyone. I was paying at one time 250 a month for my truck note but now but 250 a month and usually more into my savings account. But for those willing to listen and think about it why jump back into credit cards right after freeing yourself from them? Why not build some wealth and financial peace for yourself.

It's NONE OF YOU'RE FREAKING BUSINESS!


What about that is so hard to understand Mr. DaveRamseyWannaBE?

And you're only 24. Wait until you get married, have kids, and a wife or husband, and then tell me that you can get by on 23K a year. Good luck with that my friend, 'cause that is truly a fantasy!

If your problems are none of anyones business why are you posting them on here?I love it when people do nothing but insult me instead of try to debate anything with me. That just really proves they have no clue as to what there talking about.

We are not here to debate!!!!!!!!!!!!!!! We are here to help others through a difficult time in their lives. Sorry if you're distraut by anyone considering a credit card after BK, but it's none of your concern. You, nor this forum, can change that. There is nothing you or this forum can do about it........so.......DROP IT!

Oh I am sure that some people come upon lots of unforseen medical bills and have no choice but bk. I dont claim to be better than anyone else and I dont live at home. I like reading some of the peoples stories on here and advice people give because some of the stories I can feel the pain because I struggled through debt but made it through. Also I have read some people on here who have filed bk and have learned from there mistakes and are doing much better now. But why right after bk do you want to run straight back to the credit cards and loans? Why not learn to live off of what you make? Invest some of your money and make intrest for yourself and have something in the bank instead of the cc companies getting all your money. Wouldnt it be nice after a year to have that nice lump sum in a savings account that is yours and building intrest or would you rather some greedy card company get your money. I know I will just be steadily attacked on here and do I really care... No but just think about for a second what you pay per month in payments and intrest on those loans and then add up those payments and calculate it to see what you would have in a savings account after a year. I am sure some of you will think that would be nice and others will continue to bash me. But hey I dont care. I love living in my fantasy world of not having credit cards and not having to pay all those card payments monthly then worrying how I am going to put gas in my truck or come up with the rent money. I am 24 with a paid for truck, and the only bills I have every month are utilities, rent, insurance, and food. I make 23,000 a year but have managed to save about 12,000 in a higher yield savings account with ING Direct which I would recommend to anyone. I was paying at one time 250 a month for my truck note but now but 250 a month and usually more into my savings account. But for those willing to listen and think about it why jump back into credit cards right after freeing yourself from them? Why not build some wealth and financial peace for yourself.


Your situation is fine and dandy for you NOW, however wait for the real world....a wife, kids, etc.... Then get back to us.:dry:
I was so able to have a cushy living before kids, and hubby, but you really don't know how much you spend on them for the necessities.

One question.....you mention that people don't learn. They file BK, and the run out right away and get CC and loans, just to run up debt, and be back in the same situtation?...right?? Ok....on here WHO is??

In order to improve your credit you need to get CC cards....most everyone on here has gotten them, and in the same breath also has said they pay it off right away to avoid fees, and interest.....so who are you really referring to??
Here is perfect example:
we have 3 CC....
CC#1=zero balance...gee no debt there!!!!
CC #2=$34 balance....WOW...look the national debt.
CC#3=$27 balance.....whoa...I better watch it there!!
No car loan
We also have a couple grand in the savings, and we are saving up for our first house.:)
so How??? ...really How?? can you say we never learn?? :beee:

Again, the live you live may be fine now, but wait until you get n the real world.....so what happens, when your paid off truck stopped working?:dry: will last forever?? NO at some point you will have to finance another.....oooohh then what?? Oh and are you going to live in an apartment the rest of your life?? WOW a mortgage? :dry: NO OH that would be a loan, and debt....see wake up to the millions of regular people and regular lives in this world!!

Hi. Mike ,
The only reason we are getting a credit card after BK is to help you restablish your credit like in my case I have to Refinance my house on my 2 year arm. Nobody is saying run your credit card to the ground with high balance because that will "definitely" hurt you ... But in order to raise your scores,show your trustworthy again to creditors you have to show them you are trying and doing good... If you do nothing to restablish your credit report then there is no proof of showing good payment history and they want three lines of it to prove to Refinance or Even buy a house . I understand your frustration but this is the only way to restablish is to get two or three credit cards to show good payment. I have spoke to about 10 Mortgage lenders and they all have told me the same thing . Get established three lines then call me in a few months when your score goes up. I hate to speak for anyone but I know BK is a stressfull thing to actually go through and you have no idea unless you have walked in those shoes. That is great that you were blessed on being able to get out of your debt and I am sure that was stressfull as well but everyones situation is diffrent and you really should not Judge anyone here . We all come here for advice on how to restablish credit, BK , and I for one have found everyone so helpful in assisting me with my questions .
This is a great group and I understand you are just trying to say "NO" to credit cards but your missing the point " we are not running them up ".. not paying ..which is a big diffrence .. They are helping us raise our scores , get mortgages.. why would you want to rent when you can own? "The american dream " they say.. Yes saving money is a great idea and having a credit card payment of 10.00 a month is not going to break us. Do you really think so? Most of these balances we get are only 200.00 limit . Renting does not get you anywhere and I think it is great you have saved that much money but honestly you are throughing your rented money out the window .... I realize your young and have been listening to Dave Ramsey which I use to as well, but I just did not agree with everything he said but rememer he claimed BK as well and he had to have restablish his credit some how unless he just paid cash for his house. I am not really sure but all I am saying is Please don't trash us we all have worked hard here and help each other and it is fine to say you yourself don't like credit cards blablabla but when you come to a forum about restablishing your credit and condemn us for the way we know works and prove it everyday just look at how our scores go up from it . Like I said nobody is saying run up credit cards you are taking it to a diffrent level. I would definitely understand what your position is, if I ran out got 5 credit cards and maxed all of them out and am just paying minimium payments which would get me nowhere. Yes that is understood and I would have to say everyone realizes that...

Oh I am sure that some people come upon lots of unforseen medical bills and have no choice but bk. I dont claim to be better than anyone else and I dont live at home. I like reading some of the peoples stories on here and advice people give because some of the stories I can feel the pain because I struggled through debt but made it through. Also I have read some people on here who have filed bk and have learned from there mistakes and are doing much better now. But why right after bk do you want to run straight back to the credit cards and loans? Why not learn to live off of what you make? Invest some of your money and make intrest for yourself and have something in the bank instead of the cc companies getting all your money. Wouldnt it be nice after a year to have that nice lump sum in a savings account that is yours and building intrest or would you rather some greedy card company get your money. I know I will just be steadily attacked on here and do I really care... No but just think about for a second what you pay per month in payments and intrest on those loans and then add up those payments and calculate it to see what you would have in a savings account after a year. I am sure some of you will think that would be nice and others will continue to bash me. But hey I dont care. I love living in my fantasy world of not having credit cards and not having to pay all those card payments monthly then worrying how I am going to put gas in my truck or come up with the rent money. I am 24 with a paid for truck, and the only bills I have every month are utilities, rent, insurance, and food. I make 23,000 a year but have managed to save about 12,000 in a higher yield savings account with ING Direct which I would recommend to anyone. I was paying at one time 250 a month for my truck note but now but 250 a month and usually more into my savings account. But for those willing to listen and think about it why jump back into credit cards right after freeing yourself from them? Why not build some wealth and financial peace for yourself.

I filed bk primarily because of medical bills. My only monthly bill is my rent. $400 a month includes all utilities. I live in a waterfront condo on the intracoastal waterway in atlantic beach, fl, with roommates. All I have to pay for besides that is to feed myself. I have 7 new credit cards in the 4 months after filing bk, with $7,700 in available credit. I DON'T OWE A DIME ON THEM. NOT A PENNY, TO ANYONE. I now have credit scores in the 700's, and could qualify for things I never dreamed of, like a home.

Do you live in a small town or something, where everyone just gossips about each other and makes up a bunch of lies? Noone on this site is 'running' back to a credit card. We are rebuilding our credit after having financial burdens laid upon us that were out of our control. Every person in america has the right to medical care and treatment to stay alive. People who are not rich can not always afford such necessities. Don't come on here and judge us or assume for one second that you know what goes on. Expand your mind, educate yourself, shed the ignorance. You too, could one day, have wisdom.

23,000 to live nicely? Where? I want to know. I make 22,000 a year and have to have a roomate just to barely stay on the good side of finances. It must be nice!

23,000 to live nicely? Where? I want to know. I make 22,000 a year and have to have a roomate just to barely stay on the good side of finances. It must be nice!



Amen sister! You go girl! :)

Like I said, the parents basement=living on his own!

There's no way he could possibly be renting anywhere without paying at least $650 a month rent. And look at this, if you will.

Say he's paid bi-weekly. $23,000/26 weeks=$884.62. Then you have to take away 20% for taxes. $176.92. So then he has $707.70. Of course if he has health insurance, that's another $50.00. So that leaves him with $657.70 When all is said and done give a couple of dollars.

His rent a month is going to be at least $650, ASSUMING, he IS living on his own, not with roommates, or a girlfriend, or anything else. And assuming he lives in anywhere that's even slightly decent. So half of his income a month is GONE. Right away.

Then we have food a month. Let's say $200. We are now down to $465.40.
He has utilities.

Let's see here. A phone: $50.00 a month. Cable Internet, another $50.00 a month. Light/Electricity $45.00 a month (on a good month) and if he lives in a city sewer and water: $20.00 a month. And then we have the heating bill. We'll average this at $80.00 a month.

So, he's bringing HOME $1314.50 a MONTH.
Rent is $650.00
Food is $200
Phone $50
Cable/Internet $50
Electric Bill $45
Water/Sewer $20
Heating $80.00


Leaving him $219.00 a MONTH left over. He has to pay for gas for his gas guzzling truck (I assume by his big mouth, it's a big V8 engine...small people need big things) So there goes his gas rations for the month on his leftover money.

No way in HELL is putting away $12,000 a year, unless he's robbing a bank.

I guess my question is--WHY DO YOU BOTHER COMING HERE? Most people visit here because they either (a) are having financial problems and are considering bankruptcy wanting to learn about it, (b) are in the middle of a bankruptcy and need support, (c) are post-BK and want to re-establish their credit and help others make it through the process. Then, we've got a few with expertise in an area that will help people on the boards (i.e. mortgage brokers.)

So where does this guy fit in? Do you listen to Jason Mraz all day and then go post on a Sheryl Crow board when you don't know any of her music? Some people have way too much time on their hands.

Tinroofrusted nice try. But yes I do make 23,000 a year but I have been at the same job for 3 years and we get all the overtime we want so I get a little more. I usually take home about 800 every two weeks. My health insurance is top notch with no deductibles as well as my dental and they cost me nothing and are fully paid for by my employer. Also I did not save up my savings in 1 year like you assusmed. But for your info I use an envelope system for my bills. And also my truck is a 4 cylinder to save on gas. But here is my budget below.


my rent for a good apartment because things here in the south obviously seems to be cheaper for cost of living compared to other places. You can actually get a good home for 100k or less. But my rent is 475 a month. But each paycheck here is what I do.

Rent 240
Power 30 because I keep my lights off during the day and the a/c is set to come on 1 hour before I get home.
Water 13.00
phone 25
insurance 35
cable 30
Since I drive a 4 cylinder vehicle I usually fill up once a week at about 35.00 so that is 70 for gas

so that means that out of my paycheck every two weeks genius about 445 come out for bills leaving me about 355.00 for food and whatever else I need. I usually eat on about 100.00 or less every two weeks because I dont eat much and I dont eat fancy meals or go out much. Hell I may eat a couple of things from the dollar menu for lunch at work or take some left overs from the night before to work. But I usually add about 200 a month to my savings which comes out to be about 2400 a year and I have the money in a high yield savings account at ING direct which is a good savings. I also do from time to time side work working on peoples cars which gives me a little extra that I usually put in savings. Yes I know renting an apartment is throwing away money but I am saving up enough to put a down payment on a home. I would like to purchase a piece of land here and pay cash for it if possible then save up for a while and have a home built on it. I hope that maybe I can get married or meet the right one within the next 5 years and we can together build a home but if I dont meet anyone it will just take me longer but I refuse to go broke with payments up to my eyeballs to get everything I would like now. I would rather live in an apartment now and just wait. Sure friends of mine have nicer vehicles and have a home but they are up to there eyeballs in debt and I wont do that. For my vehicle though my engine could blow right now and I could have a brand new one put in at the dealership and have no worries about trying to pay a debt card back for the purchase. I think I am heading in the right decision and am prepared for any emergency that comes my way. If I cant then I will find some way to deal with it. Right now I may only make 23,000 a year but that will eventually change for me and I will do better.

Tinroofrusted nice try. But yes I do make 23,000 a year but I have been at the same job for 3 years and we get all the overtime we want so I get a little more. I usually take home about 800 every two weeks. My health insurance is top notch with no deductibles as well as my dental and they cost me nothing and are fully paid for by my employer. Also I did not save up my savings in 1 year like you assusmed. But for your info I use an envelope system for my bills. And also my truck is a 4 cylinder to save on gas. But here is my budget below.


my rent for a good apartment because things here in the south obviously seems to be cheaper for cost of living compared to other places. You can actually get a good home for 100k or less. But my rent is 475 a month. But each paycheck here is what I do.

Rent 240
Power 30 because I keep my lights off during the day and the a/c is set to come on 1 hour before I get home.
Water 13.00
phone 25
insurance 35
cable 30
Since I drive a 4 cylinder vehicle I usually fill up once a week at about 35.00 so that is 70 for gas

so that means that out of my paycheck every two weeks genius about 445 come out for bills leaving me about 355.00 for food and whatever else I need. I usually eat on about 100.00 or less every two weeks because I dont eat much and I dont eat fancy meals or go out much. Hell I may eat a couple of things from the dollar menu for lunch at work or take some left overs from the night before to work. But I usually add about 200 a month to my savings which comes out to be about 2400 a year and I have the money in a high yield savings account at ING direct which is a good savings. I also do from time to time side work working on peoples cars which gives me a little extra that I usually put in savings. Yes I know renting an apartment is throwing away money but I am saving up enough to put a down payment on a home. I would like to purchase a piece of land here and pay cash for it if possible then save up for a while and have a home built on it. I hope that maybe I can get married or meet the right one within the next 5 years and we can together build a home but if I dont meet anyone it will just take me longer but I refuse to go broke with payments up to my eyeballs to get everything I would like now. I would rather live in an apartment now and just wait. Sure friends of mine have nicer vehicles and have a home but they are up to there eyeballs in debt and I wont do that. For my vehicle though my engine could blow right now and I could have a brand new one put in at the dealership and have no worries about trying to pay a debt card back for the purchase. I think I am heading in the right decision and am prepared for any emergency that comes my way. If I cant then I will find some way to deal with it. Right now I may only make 23,000 a year but that will eventually change for me and I will do better.

Let's see how this works when you have a wife and two kids to support, kiddo.

If it works for you, that's great. However, I don't appreciate you coming here to tear others down if they have found something that works for them. You are bad news, and you have horrible taste. Dave Ramsey wouold be proud though... another little snot nosed protege *hoping* to follow in his footsteps.

Just remember: Dave Ramsey makes hundreds of thousands a year. The average person makes 30k. Mr. Ramsey supports being away from your children and wife to pay bills. He also supports an irration and unidealized "emergency fund" of 10K or more in a bank account. He also paid for his children to have BMW cars, and other unnecessary toys at a very young age.

When he, AND YOU for that matter, can live off of $30K a year, and support a family, and still save thousands a year, perhaps then you will have a voice and room to talk. Until that time, you are living in denial, until you join the real world, and you may be back here dragging tail to admit defeat when you have to file bankruptcy yourself.

"Hell I may eat a couple of things from the dollar menu for lunch at work or take some left overs from the night before to work. "

Where do you work? Mc Donalds? Wendy's?

The dollar menu is a lifesaver for a quick lunch. Wendy's Chicken Nuggets in their side salad--$2 for a semi-healthy lunch.

I'm not knocking this kid for what he's doing--kudos to him since he can make it work.

It depresses me around here that the people in mobile homes are being pushed out since developers are buying up the area to build more expensive homes and the people around there are happy since the mobile homes devalue their property.

Where is someone supposed to live? At least those in mobile homes aren't throwing rent away; however, mobile homes don't appreciate well either. But it sure is nice having a place to call home where you don't have to worry about people living above or below you.

This guy is probably making $11 an hour base pay. (Although, that's being a bit deceptive since now we hear about overtime and jobs that appear to be "under the table".)

Just for educational value:

$240 rent--he's hit the jackpot. Rent here for absolute dumps start at $700 for one bedrooms, $1000 for two--and thats only if you stay away from the city.

Mortgage: 700 for me and it includes about $100 in escrow

Power: 30 vs 170 (for me incl electric and gas--and I've got a whole house fan to suck the cool air in the morning and only set a/c at 78 deg during day and down to 74 when I get home).

Water: 13 vs 33.40 (that's the min we can pay here for water & sewer--we fought to get it lowered (and won) since we are in townhomes)

Phone: 25 vs $100 (guess he doesn't need a cell phone, or calling anyone long distance, and doesn't live out of certain regions where basic phone costs extra)

Insurance: 35 vs $100 (mine is life, auto, home)

HOA fees: 0 vs $125

Cable: 30 vs 45 (Satellite for me--pay extra for local channels since I can only get one without it)

Internet/DSL: 0 vs $45 (a luxury over dial-up and lets me work at home to catch up on work I miss due to med appts)

Gas: 70 vs $150 (and it keeps going up--spent $44 to fill the tank this week)--but my car gets 33-35 mpg)

Medical: $0 (dang is he lucky!) vs ??? (500 yrly deductible, meds $200 monthly, $25 CPAP (to breath at night), $20-40 copays for Dr's per month, OTC meds $30 monthy) so I'm looking at $300 a month total (and doesn't count what I owe for 2 outpatient surgical procedures and 1 hospital stay I had this year)

My point? The reason I'm taking the time to show Mike this is so that he gets a sense of our realitly vs his reality. No one is right or wrong--just different.

I'm single, no divorce, no kids--I think he'd be pretty surprised if we posted our schedule I & J's up here. I can only imagine what the numbers would look like for others.

The dollar menu is a lifesaver for a quick lunch. Wendy's Chicken Nuggets in their side salad--$2 for a semi-healthy lunch.

I'm not knocking this kid for what he's doing--kudos to him since he can make it work.

It depresses me around here that the people in mobile homes are being pushed out since developers are buying up the area to build more expensive homes and the people around there are happy since the mobile homes devalue their property.

Where is someone supposed to live? At least those in mobile homes aren't throwing rent away; however, mobile homes don't appreciate well either. But it sure is nice having a place to call home where you don't have to worry about people living above or below you.

This guy is probably making $11 an hour base pay. (Although, that's being a bit deceptive since now we hear about overtime and jobs that appear to be "under the table".)

Just for educational value:

$240 rent--he's hit the jackpot. Rent here for absolute dumps start at $700 for one bedrooms, $1000 for two--and thats only if you stay away from the city.

Mortgage: 700 for me and it includes about $100 in escrow

Power: 30 vs 170 (for me incl electric and gas--and I've got a whole house fan to suck the cool air in the morning and only set a/c at 78 deg during day and down to 74 when I get home).

Water: 13 vs 33.40 (that's the min we can pay here for water & sewer--we fought to get it lowered (and won) since we are in townhomes)

Phone: 25 vs $100 (guess he doesn't need a cell phone, or calling anyone long distance, and doesn't live out of certain regions where basic phone costs extra)

Insurance: 35 vs $100 (mine is life, auto, home)

HOA fees: 0 vs $125

Cable: 30 vs 45 (Satellite for me--pay extra for local channels since I can only get one without it)

Internet/DSL: 0 vs $45 (a luxury over dial-up and lets me work at home to catch up on work I miss due to med appts)

Gas: 70 vs $150 (and it keeps going up--spent $44 to fill the tank this week)--but my car gets 33-35 mpg)

Medical: $0 (dang is he lucky!) vs ??? (500 yrly deductible, meds $200 monthly, $25 CPAP (to breath at night), $20-40 copays for Dr's per month, OTC meds $30 monthy) so I'm looking at $300 a month total (and doesn't count what I owe for 2 outpatient surgical procedures and 1 hospital stay I had this year)

My point? The reason I'm taking the time to show Mike this is so that he gets a sense of our realitly vs his reality. No one is right or wrong--just different.

I'm single, no divorce, no kids--I think he'd be pretty surprised if we posted our schedule I & J's up here. I can only imagine what the numbers would look like for others.

$240, I believe is HALF of everything... and that's how his list goes, I do believe.

And you are SO very right, everyone is completely different from each other, as far as what they are paying out, and in a month.

I do believe though, that if Mr. Mike weren't getting all that overtime, and "under the table" work, he would probably be having a harder time than he currently is too. 23K nowadays doesn't buy you much.

I am also REALLY curious to know how someone who isn't 25 yet can get insurance rates at $70.00 a month- even if it IS just PLPD. That is a really interesting thing right there. And especially when it's a policy that is his own... my guess? He's still under his parents policy to save a few bucks.

I am not under my parent policy at all. I have full coverage insurance but I chose to get 1,000 dollar deductibles because I have a nice size emergency fund that would make it no problem paying that 1,000 deductible. I also took through state farm insurance what is called the young drivers course that saves me something like an additional 15% off my insurance and I choose to pay the premium once every 6 months which lowers it more. And yes it is true that what I listed it half of the bills and that is what I pay every pay day. Also if I lost the overtime yes things would become harder for me but I would again have my emergency fund that I could rely on if absolutley necessary but if I were to cut the cable for a while and put less in savings I doubt I would need to touch it. I also would probably work part time like I did before to make up the difference and wind up with even more money. Yea things are becoming expensive but if you think about things for a while like what is a necessity and what is just something I would like to have then it makes things just that much easier. I cant wait myself to get out of this apartment when I eventually build me a home. But yea I can live cheap but I am not broke either. I go grocery shopping and usually buy the store brand which in most cases is just as good. I may go to walmart and buy those bags of chicken breast that are 6.00 a bag and a pack of wheat buns for a really good chicken sandwhich, also things like canned vegtables, mac and cheese which are all really good but inexpensive. For clothes sure i buy new sometimes but I may do a layaway at walmart. I see no point in spending 40 for a pair of jeans at sears or get a pair at walmart which I find to last longer than Levis for 15. But also sometimes I go to thrift stores and find really good clothing that may of not fit the previous person or I go to consignment shops. Someone may come out of sears with 4 pair of jeans for 170 when I can get 4 for maybe 10 or less. But I am going to find a better job. I work on computers right now and the job market in this area aint so hot right now but I will do something. But you just got to find ways to cut your budget. You got to think while your going through a hard time stuff like do I really need that cable service with the digital box, and the 100 extra channels for 30 extra a month? I am not saying you have that but in most (notice I said most) cases you can cut corners. And yes 23,000 isnt much but things in the south are cheaper. My neighbor lived in San Diego, CA for a while and said cashiers were making 18.00 an hour but you couldnt get a trailor on a lot for under 125,000. Here in the south you can get a home and not a trailer but a move in condition home in a decent area where you dont have to worry about your radio being stolen in the night for 100k or less. If you want a trailer on a lot and want a decent one look for about 45k and if you want to be southern trailer trash look for about 20k or less lol. A friend of mine is looking to sell her home here in the next 3 years and it is a 3 bedroom 2 bath about 1300sf on almost an acre of land and it is going for 79,000 and it has a new roof, vinyl siding, lanoliom flooring, and maybe new carpet before they move. Maybe for some people who cant afford a home elsewhere because pay is nowhere near enough maybe they ought to research another area of the country. I for sure will never think of California especially when my neighbor said a 600sf apartment was 1600 a month.

$240, I believe is HALF of everything... and that's how his list goes, I do believe.


Oops, didn't catch that. Was around midnight when I was reading the boards. Now it makes a wee bit more sense.

Mike, please, while we admire your frugal lifestyle and initiative to save money, could you please answer one question that you have been avoiding--why do you choose to come and post on these boards?

Mike, please, while we admire your frugal lifestyle and initiative to save money, could you please answer one question that you have been avoiding--why do you choose to come and post on these boards?


Very good question. I am dying to know the answer to this one as well.

(And BTW- I could care less about how frugal he is... I don't need advice from a damn kid.....)

No matter what my age I think that is some advice. My whole reason for posting is I am asking why would you want to go right back to credit cards after getting a fresh start. To say I am not gonna listen to someone because of there age is ignorant and being closed minded. Just because your older does not mean your smarter or better. But without being attacked think about this for a second. Some people say they need credit cards to live of of because they dont make enough. Well that is a temporary solution. You buy 100 worth of stuff on the card this month and make a 10.00 payment. Sure you got by fine and made the payment. Now the next month you but another 100.00 and now owe that 100 plus probably still 95 from the previous month from only making the minimum payment now your minimum may go up and it is a chain reaction. you factor in extra things that may come up and you all the sudden have a large balance on a credit card. Now god forbid you make a late payment. Your intrest will go up 18-22% and they will whack on a 30 late payment fee. Now some people will go out when that card reaches it max and get another and eventually get so far in the hole they cant get out. My poing is why not learn to live on what you make. If you want more you gotta work for it or you got to find ways to cut costs. Say if you make 50,000 a year and get approved for a house up to 125,000 dont go for the max loan like most would do. Try going for maybe 75,000. Now I know housing is higher in most places but that is just an example. Think to yourself do you really need all those extra features on you phone or do you need 300 channels with a digital box for cable? Sure things are going up faster than pay but there is nothing you can really do about it but find ways to cut costs and do some side work if possible. I know I do. Hell I fix people brakes on there cars, do tune ups and other minor work and make some decent money from time to time. I may be cheap but I am not broke and I got out of the credit card trap and will never go back again and will learn to live on what I make. Go ahead and bash me because but I am sure there will be a couple who will think for a minute about ways to save money and think maybe he is right on a couple of things.

Credit cards and loans are fiercly marketed to people I mean I must see 4 or 5 credit card commercials a day and I love capitol ones commercials becuase they are funny but there product is not, then I see even more on the net, everywhere are advertisements to refinance homes, get a car loan, credit cards, etc. Also with the rise in the advertisement of credit cards and debt you are seeing a ton more advertisements for bankruptcy attorneys and credit counseling services. Also you are seeing a lot more people being taken advantage of with the credit counseling services. People look at me weird when I say credit cards are not smart to have. But ask your parents on how much they borrowed when they were younger or how much there parents borrowed. People these days want to run to the bank and get a loan for everything then they are traped in a never ending cycle of payments. I mean 5 years for a vehicle, 30 years for a home, 15-30 years student loan, credit cards where the minimum barely makes a dent, then after your all done with the payments you barely have anything to put in a savings or invest for retirement. Retirement from ss is dying. i dont look to really get a thing when i turn 67 or whatever age is may be by then. My point is why run out to get all these payments again when this is the perfect oppurtuinity to save some money for yourself and not make the bank rich. I want to teach my children the value of the dollar and that they should think before they purchase something and that saving should be a priority. I want them to earn what they get and be smart about making purchases. Life on credit just isnt fun. It is nice to own things and not have payments.

No matter what my age I think that is some advice. My whole reason for posting is I am asking why would you want to go right back to credit cards after getting a fresh start. To say I am not gonna listen to someone because of there age is ignorant and being closed minded. Just because your older does not mean your smarter or better. But without being attacked think about this for a second. Some people say they need credit cards to live of of because they dont make enough. Well that is a temporary solution. You buy 100 worth of stuff on the card this month and make a 10.00 payment. Sure you got by fine and made the payment. Now the next month you but another 100.00 and now owe that 100 plus probably still 95 from the previous month from only making the minimum payment now your minimum may go up and it is a chain reaction. you factor in extra things that may come up and you all the sudden have a large balance on a credit card. Now god forbid you make a late payment. Your intrest will go up 18-22% and they will whack on a 30 late payment fee. Now some people will go out when that card reaches it max and get another and eventually get so far in the hole they cant get out. My poing is why not learn to live on what you make. If you want more you gotta work for it or you got to find ways to cut costs. Say if you make 50,000 a year and get approved for a house up to 125,000 dont go for the max loan like most would do. Try going for maybe 75,000. Now I know housing is higher in most places but that is just an example. Think to yourself do you really need all those extra features on you phone or do you need 300 channels with a digital box for cable? Sure things are going up faster than pay but there is nothing you can really do about it but find ways to cut costs and do some side work if possible. I know I do. Hell I fix people brakes on there cars, do tune ups and other minor work and make some decent money from time to time. I may be cheap but I am not broke and I got out of the credit card trap and will never go back again and will learn to live on what I make. Go ahead and bash me because but I am sure there will be a couple who will think for a minute about ways to save money and think maybe he is right on a couple of things.


Ok …you are preaching to the WRONG group of people!!!!!

First….We are NOT runnig out and getting credit cards to LIVE OFF OF, or to make ends meet!!!! WHERE did you come up with that idea???? :blink: We get them to raise our scores, to inturn get LOWER interest rate in the future, for houses and cars!

Second…If you ask around here on the board, I’m sure we can TELL YOU a thing or two about penny pinching!! So don’t be so quick to pat yourself on the back. :dry: Most of us have gone without, shopped at Wal-mart, even thrift stores, have cut grocery bills, and cable luxuries, just to make ends meet. So please tell me WHO you are really lecturing ??:blink: ....obviously not this group of people….we are getting back on track, and it would STUPID for anyone to run up bills…give me a break! We all know that!!

You need to go preach to the childish kids in the early twenties who spend frivolously on crap things. Shop at designer stores, and buy un-needed items.:D
Most of us are raising children and have families, and know what not to do.

So thanks anyway, but your views, and ideas are really not needed!

Credit cards and loans are fiercly marketed to people I mean I must see 4 or 5 credit card commercials a day and I love capitol ones commercials becuase they are funny but there product is not, then I see even more on the net, everywhere are advertisements to refinance homes, get a car loan, credit cards, etc. Also with the rise in the advertisement of credit cards and debt you are seeing a ton more advertisements for bankruptcy attorneys and credit counseling services. Also you are seeing a lot more people being taken advantage of with the credit counseling services. People look at me weird when I say credit cards are not smart to have. But ask your parents on how much they borrowed when they were younger or how much there parents borrowed. People these days want to run to the bank and get a loan for everything then they are traped in a never ending cycle of payments. I mean 5 years for a vehicle, 30 years for a home, 15-30 years student loan, credit cards where the minimum barely makes a dent, then after your all done with the payments you barely have anything to put in a savings or invest for retirement. Retirement from ss is dying. i dont look to really get a thing when i turn 67 or whatever age is may be by then. My point is why run out to get all these payments again when this is the perfect oppurtuinity to save some money for yourself and not make the bank rich. I want to teach my children the value of the dollar and that they should think before they purchase something and that saving should be a priority. I want them to earn what they get and be smart about making purchases. Life on credit just isnt fun. It is nice to own things and not have payments.


I bet if you did a poll, and ask what the balances of the new credit cards people have gotten, you would be surprised. You would see that people are only charging one or two items and paying them off right ...... they are not racking up interest, not running up balances that will take years to pay off.

OK .....it's like this......
~ If you see a hot iron, and you touch it ....guess what you get burned!!!
RIGHT??
~ However, if again you see another hot iron, you will learn from the first time you get burned and won;t touch it again!
RIGHT??


Well same on here.....

if people ran into cc problems, before, they know NOW to stay on top of things and plan of unforseen situations!!

Credit cards and loans are fiercly marketed to people I mean I must see 4 or 5 credit card commercials a day and I love capitol ones commercials becuase they are funny but there product is not, then I see even more on the net, everywhere are advertisements to refinance homes, get a car loan, credit cards, etc. Also with the rise in the advertisement of credit cards and debt you are seeing a ton more advertisements for bankruptcy attorneys and credit counseling services. Also you are seeing a lot more people being taken advantage of with the credit counseling services. People look at me weird when I say credit cards are not smart to have. But ask your parents on how much they borrowed when they were younger or how much there parents borrowed. People these days want to run to the bank and get a loan for everything then they are traped in a never ending cycle of payments. I mean 5 years for a vehicle, 30 years for a home, 15-30 years student loan, credit cards where the minimum barely makes a dent, then after your all done with the payments you barely have anything to put in a savings or invest for retirement. Retirement from ss is dying. i dont look to really get a thing when i turn 67 or whatever age is may be by then. My point is why run out to get all these payments again when this is the perfect oppurtuinity to save some money for yourself and not make the bank rich. I want to teach my children the value of the dollar and that they should think before they purchase something and that saving should be a priority. I want them to earn what they get and be smart about making purchases. Life on credit just isnt fun. It is nice to own things and not have payments.

Yeah, but negro, who here has credit card debt? Are you stupid or something?

No matter what my age I think that is some advice. My whole reason for posting is I am asking why would you want to go right back to credit cards after getting a fresh start.

Ahem... since you didn't read the first time.... (can you read at all?)


It's none of your damn business!

No matter what my age I think that is some advice. My whole reason for posting is I am asking why would you want to go right back to credit cards after getting a fresh start. To say I am not gonna listen to someone because of there age is ignorant and being closed minded. Just because your older does not mean your smarter or better. But without being attacked think about this for a second. Some people say they need credit cards to live of of because they dont make enough. Well that is a temporary solution. You buy 100 worth of stuff on the card this month and make a 10.00 payment. Sure you got by fine and made the payment. Now the next month you but another 100.00 and now owe that 100 plus probably still 95 from the previous month from only making the minimum payment now your minimum may go up and it is a chain reaction. you factor in extra things that may come up and you all the sudden have a large balance on a credit card. Now god forbid you make a late payment. Your intrest will go up 18-22% and they will whack on a 30 late payment fee. Now some people will go out when that card reaches it max and get another and eventually get so far in the hole they cant get out. My poing is why not learn to live on what you make. If you want more you gotta work for it or you got to find ways to cut costs. Say if you make 50,000 a year and get approved for a house up to 125,000 dont go for the max loan like most would do. Try going for maybe 75,000. Now I know housing is higher in most places but that is just an example. Think to yourself do you really need all those extra features on you phone or do you need 300 channels with a digital box for cable? Sure things are going up faster than pay but there is nothing you can really do about it but find ways to cut costs and do some side work if possible. I know I do. Hell I fix people brakes on there cars, do tune ups and other minor work and make some decent money from time to time. I may be cheap but I am not broke and I got out of the credit card trap and will never go back again and will learn to live on what I make. Go ahead and bash me because but I am sure there will be a couple who will think for a minute about ways to save money and think maybe he is right on a couple of things.

Do you have problems with reading comprehension or ADD? You are obviously not reading and comprehending what is on this board. And just because we're older doesn't make us smarter or better; however, we do have more experience in the real world which can only be gained with time.

1) You don't answer the question asked--why do you come to this board when you are not in BK or having financial issues? You are not coming from a position of experience or authority.

2) Look what people are doing to rebuild their credit and why they are doing it. Sooner or later, most will need a car and it is sometimes very difficult to save up and pay for it in full ahead of time. So they are preparing for their best options (i.e. lowest percentage rate which will only come with high FICO scores.) And you just are not getting how people are spending on their new credit and how good credit scores are built. Say, for example, you get a $500 credit card. The optimal way to build credit is only to charge 20-30% of the max. Thus, someone will charge 20% of 500, or $100 on necessary items. It would seem logical to pay it off in full every month, but that is not the way the dang FICO scores work, plus, some cc companies actually increase your interest rate if you never carry a balance so that they can get some money out of you when you finally do carry a balance. So, prior to the bill being due (we know late payments will kill us) you pay off $90 of that $100 balance. So you end up paying some measily little amount in interest on $10 a month. But next month you charge your $100, have a balance of $110 and payoff $100. By carrying that tiny $10 balance your credit score increases a lot faster.

3) No one is denying that anyones post-BK experiences will be any better than their pre-BK life if they don't adjust their lifestyle and/or increase their income to live within their means. However, for a lot of them, that just might not even be necessary since CC debt is not why they got into BK in the first place.

(a) I hope it never happens to you, but you can have decent medical insurance and still find yourself in BK. Imagine a serious medical condition, such as a heart attack, where first you are life-flighted to the nearest ER, have emergency surgery, spend days in ICU, and months in rehab. Or have a premature baby that spends weeks if not months in the hospital fighting for it's life and then spends years afterwards with special occupational and physical therapy needs to try to get to the level of other peers. Heaven forbid someone needs an organ transplant. Now, that wonderful medical policy doesn't seem as wonderful when you are stuck with 20% of the bill. That million dollar cap on your policy--you'll go over that really easily if you are a transplant recipient and need to take anti-rejection drugs the rest of your life. Try having cancer that none of the traditional treatments are working so the doctor tries other combinations of things but the insurance company considers this experimental and does not cover them. (I won't even get into the whole issue of how health insurance is dictating treatment instead of the doctors. Now who has the MD again?)

(b) Another leading cause of BK is divorce. If one person was financially irresponsible, the other couple could end up paying for it--especially if it was hidden from them. Hope you don't have to experience divorce, but besides being emotionally messy, it can be very financially messy.

(c) Now, where would you be right now if you lost your job, couldn't find another one for 6-12 or more months and then had to take a 40% paycut? Guess what, this is real life!!! Around here, the kids couldn't find summer jobs because professionals who couldn't find work were out there flipping burgers, doing paper routes, and working the rides at Six Flags to keep any money coming into their homes.

(d) Combine any of the above together and a below median income, and that leads to problems. Don't have time to look for the stats right now, but the average filer makes around $35K a year and has had one of the above situations happen to him/her.

I feel like I'm beating a dead horse saying this at times; however, I have not disrespected you in anyway and am just trying to educate you in the reality that you are missing.

ALL POINTS AND OPINIONS CONSIDERED,

All of us have different lifestyles, different needs, and different values of what we need and want in our lives.

Mike, looks thru the eyes of the young, (rosey red glasses) and has not experienced the hardships that many of us have had in our pasts. He has good ideas about HOW HE WANTS THINGS IN HIS LIFE....... and finds it hard to understand that the rest of us think differently then he does..... or cannot SEE what caused our problems (medical, funeral, hospital, job loss, etc)....

DO NOT JUDGE HIM BADLY FOR THIS....... the young grow wiser as they get older.

Personally, I hope he sticks to his "game plan" and I hope the future LETS HIM..... cash and carry is not all bad............. my dad was a cash a carry person...... no cash, no buy....... I was that way myself for many years.....

Living from paycheck to paycheck as most of us do now is not easy..... especially if your a homeowner and things "break and tear up".....

Trying to save money while "raising children" is almost impossible..... they always need something (dental, doctor, school, clothing, etc)..... Mike has not encountered any of this...... He's never "robbed Peter to pay Paul" with the family budget.....

Society and the cost of everything right now can throw the best of us into a financial turmoil...... and we'll never see it coming at us...... Just one "unexpected problem" CAN SINK THE BOAT!!!

Many of us return to credit card usage to boost our credit scores, that is the quickest way to build the credit score back up and develop a credit history again. Cash only will not do this...... as most of us know.

Time and age educate us all in many ways..... we all have to go thru it..... hopefully down the road Mike will understand OUR SIDE OF THE STORY......

Debate is GREAT on this site, lots of things to debate....... lets just not loose our "cool" while we're doing it, debate and "laugh" about it, and do not deliberately insult each other.......

Play in the sandbox NICE.....................

Minny

Well Minny, you took the words right out of my mouth....or should I have said, keyboard.....LOL!

Listen Mike, I think it's great that you're able to make it on your own the way you have, but guess what, I was 24 years old once too, and I thought that this would have never happened to me. I'm sure most of us have heard about someone going through BK...maybe even someone close to us......and we probably thought it would never happen to us. Well unfortunately, you never know what life is going to throw at you. I don't know if we can explain it to you any better than we have.

I'm all for a great debate as well, but is it really getting us anywhere? A debate is fine if the discussion has a purpose and a positive end result and everyone can get something out of it, but this???????????????

Alright Alright I will say I am sorry for making anyone angry. I guess I have a problem with standing strong in my views. I was in the debate team in high school and was one of the top in the class for debating. I got onto something and I won and would convince people on what I said. A couple of my friends have actually tried to convince me to go in sales because I debate so much either as an insurance sales person or a car salesman. I say no way! I dont want my checks to vary every week and have to worry about quotas.

Alright Alright I will say I am sorry for making anyone angry. I guess I have a problem with standing strong in my views. I was in the debate team in high school and was one of the top in the class for debating. I got onto something and I won and would convince people on what I said. A couple of my friends have actually tried to convince me to go in sales because I debate so much either as an insurance sales person or a car salesman. I say no way! I dont want my checks to vary every week and have to worry about quotas.

Ok, but I can guarantee you will anger people when you try to argue things that aren't true.

What I said is true. If you dont beleive it prove me wrong.

What I said is true. If you dont beleive it prove me wrong.

You are by far the most arrogant, and stupid SOB that I have ever met.

Bottom line... BK is a fresh start! Some people will use that fresh start to get on with thier lives and handle thier finances better. For me I had no medical bills I was just a stupid kid that thought that just because I was handed a CC I could spend and be worry free. I feel for people who are forced into this position by personal issues like medical bills. For my part I'm paying the price for not listening to mom! "If you cannot pay for it in cash, then it's likely you don't need it" Please people keep it real! let's help each other not hurt!

:clapping: :yahoo:

Ok, but I can guarantee you will anger people when you try to argue things that aren't true.

Kind of ironic he's such a "good" debater. He doesn't know how to answer the question asked, yet he over generalizes on something he does not know and does not base his statements on fact.

Maybe my brain is just fried from the heat where I live, but, Mike, I don't recall your ever answering the question, "What are you doing here?" Are your parents or other loved ones in BK? Why would a person in his/her early twenties come here if not for BK support? There is always a reason.

It's too hot for me to get angry today.

Okay Mike, so your absolutely right, right? WRONG! Here's a little reading for you. It's a few years old, but it has lots of numbers for you to look at. Maybe you'll get the point and see that it's not all CC debt. Granted, this is just one article, in one state, but think of it in ALL 52 states.......THAT'S FRIGGIN' HUGE man.

Read: http://www.post-gazette.com/pg/04219/357527.stm

You should also read up on the point that I and some other members have said long before you came here.....myself included........you can not get a home or auto loan without a credit history. No way can one save for years to pay cash for house. You'll always need some financial assistance. A LOAN! So, how do you expect to get the assistance with a home loan if you don't have a credit history. NEVER FRIGGIN' HAPPEN, no matter how much cash you have to put down.

What I said is true. If you dont beleive it prove me wrong.

I don't care about what you say about yourself, that is not my concern. As for what you have said about us, that is not true. I don't need to prove you wrong, its well known that you are.

Why would a person in his/her early twenties come here if not for BK support? There is always a reason.




Good reasoning Jane...

Please do tell Mr. Mike.

Once you add family and children into the mix.....your 23K is a joke. Point blank....I'm sorry to say it like that but it's true. I make a little over 40 with 3 kids and believe me that is not enough. As to where you could get away with buying yourself clothes once a year.....kids need an entire new wardrobe minimum every six months....but I have a baby so it's every 3 months. Not to mention kids get sick a lot especially school age kids....$15 bucks a pop plus $15 for medicine...let's say one gets sick every month that's $30. Running them to school plus day care and lunches....that expense for three kids is somewhere about 800 minimum. So your entire pay check. Oh and you still have to feed three mouths....

Anyway to put it in short....I think people here are doing the best they can with the cards they were given. I haven't seen really anyone come on here because they overcharged the cards....more so because they can't handle those everyday expenses or they get hit with some traumatic life event. I think I once read a statistic that the majority of bankruptcies are due to medical. Oh and by the way....you think your insurance is the greatest? Wait till some terminal illness hits you that requires thousands upon thousands of bills and see how much they actually pay of those.....I think you will be thoroughly shocked..............(and this is a person that is telling you that battled thyroid cancer followed by lymphoma and was diagnosed at 22--so don't think just because you are young that it won't happen).


ETA: By the way I'm not sure where you are getting your math from but I make 19.31 an hour and I have about 8 hours of mandatory OT each week on the checks and I only see about 1000-1100 a check after taxes and deductions......can you explain how you manage to make only 200.00 less than I do when I make over twice as much as you do? So all in all with my mandatory OT I'm sitting at 52, 214.24....double what you make is 46. I'll be happy to scan one of my checks in (of course with just the numbers and none of my personal info to show you.

Once you add family and children into the mix.....your 23K is a joke. Point blank....I'm sorry to say it like that but it's true. I make a little over 40 with 3 kids and believe me that is not enough. As to where you could get away with buying yourself clothes once a year.....kids need an entire new wardrobe minimum every six months....but I have a baby so it's every 3 months. Not to mention kids get sick a lot especially school age kids....$15 bucks a pop plus $15 for medicine...let's say one gets sick every month that's $30. Running them to school plus day care and lunches....that expense for three kids is somewhere about 800 minimum. So your entire pay check. Oh and you still have to feed three mouths....

Anyway to put it in short....I think people here are doing the best they can with the cards they were given. I haven't seen really anyone come on here because they overcharged the cards....more so because they can't handle those everyday expenses or they get hit with some traumatic life event. I think I once read a statistic that the majority of bankruptcies are due to medical. Oh and by the way....you think your insurance is the greatest? Wait till some terminal illness hits you that requires thousands upon thousands of bills and see how much they actually pay of those.....I think you will be thoroughly shocked..............(and this is a person that is telling you that battled thyroid cancer followed by lymphoma and was diagnosed at 22--so don't think just because you are young that it won't happen).


ETA: By the way I'm not sure where you are getting your math from but I make 19.31 an hour and I have about 8 hours of mandatory OT each week on the checks and I only see about 1000-1100 a check after taxes and deductions......can you explain how you manage to make only 200.00 less than I do when I make over twice as much as you do? So all in all with my mandatory OT I'm sitting at 52, 214.24....double what you make is 46. I'll be happy to scan one of my checks in (of course with just the numbers and none of my personal info to show you.

Well Danielle did you think maybe I get paid every two weeks?

Well Danielle did you think maybe I get paid every two weeks?

For a debater, you are not very clear on your statements around here. Seeing as we are the ones involved with BK and are familiar with the means test and the monthly IRS figures and the schedules of monthly income and expenses we know that that is how items are discussed around here.

For a debater, you are not very clear on your statements around here. Seeing as we are the ones involved with BK and are familiar with the means test and the monthly IRS figures and the schedules of monthly income and expenses we know that that is how items are discussed around here.


He was obviously not on the debate team him high school.

He has no logic or sense in ANY of his ramblings.....

He was obviously not on the debate team him high school.

He has no logic or sense in ANY of his ramblings.....

And still, SEVEN pages later, he has yet to answer THE question.

Why is he here??!! :blink:

And still, SEVEN pages later, he has yet to answer THE question.

Why is he here??!! :blink:


To cause trouble! :)

That's the only (obvious) reason I can come up with.

Just some kid, living in his parents basement, out of school for the summer, and out to cause trouble.

(Probably listening to Dave Ramsey tapes all day long, and thinking he can preach to grown ups, and get somewhere with it.)

Tinroofrusted nice try. But yes I do make 23,000 a year but I have been at the same job for 3 years and we get all the overtime we want so I get a little more. I usually take home about 800 every two weeks. My health insurance is top notch with no deductibles as well as my dental and they cost me nothing and are fully paid for by my employer. Also I did not save up my savings in 1 year like you assusmed. But for your info I use an envelope system for my bills. And also my truck is a 4 cylinder to save on gas. But here is my budget below.


my rent for a good apartment because things here in the south obviously seems to be cheaper for cost of living compared to other places. You can actually get a good home for 100k or less. But my rent is 475 a month. But each paycheck here is what I do.

Rent 240
Power 30 because I keep my lights off during the day and the a/c is set to come on 1 hour before I get home.
Water 13.00
phone 25
insurance 35
cable 30
Since I drive a 4 cylinder vehicle I usually fill up once a week at about 35.00 so that is 70 for gas

so that means that out of my paycheck every two weeks genius about 445 come out for bills leaving me about 355.00 for food and whatever else I need. I usually eat on about 100.00 or less every two weeks because I dont eat much and I dont eat fancy meals or go out much. Hell I may eat a couple of things from the dollar menu for lunch at work or take some left overs from the night before to work. But I usually add about 200 a month to my savings which comes out to be about 2400 a year and I have the money in a high yield savings account at ING direct which is a good savings. I also do from time to time side work working on peoples cars which gives me a little extra that I usually put in savings. Yes I know renting an apartment is throwing away money but I am saving up enough to put a down payment on a home. I would like to purchase a piece of land here and pay cash for it if possible then save up for a while and have a home built on it. I hope that maybe I can get married or meet the right one within the next 5 years and we can together build a home but if I dont meet anyone it will just take me longer but I refuse to go broke with payments up to my eyeballs to get everything I would like now. I would rather live in an apartment now and just wait. Sure friends of mine have nicer vehicles and have a home but they are up to there eyeballs in debt and I wont do that. For my vehicle though my engine could blow right now and I could have a brand new one put in at the dealership and have no worries about trying to pay a debt card back for the purchase. I think I am heading in the right decision and am prepared for any emergency that comes my way. If I cant then I will find some way to deal with it. Right now I may only make 23,000 a year but that will eventually change for me and I will do better.

Did anyone crunch these numbers?

$800 per paycheck....assuming two paychecks since it's biweekly according to him....so total expenses are 816.00. Over his 800 per paycheck. So then we have to borrow $16 from the next check leaving that at 784 X 12 months equals 9408. But this budget does not account for oil changes (times two cars and keep in mind trucks are usually more expensive), heating, laundry, clothing, etc. And you mean to tell me they charge you $70 a month for insurance on two vehicles???? Hogwash. And most people keep full cover insurance on their nice new trucks. My elderly aunt with 805 credit and perfect driving record pays 50.00 per vehicle per month and that's in the middle of nowhere town with only liability. Then again your financially savy and figure if by chance I should get into an accident I need have medical payments coverage and something to cover your butt for lost wages and you'll probably need them to put another shiny new truck in the lot for you.

Oh and um......by the way.....after crunching your income into the federal tax bracket you make less than 816 every two weeks and that's before I calculate any state income tax.

BTW----No 401K deduction calculated either!!!!!!!! Isn't that just a little foolish??? Just a tad..... Based on your income if you were to retire today they'd start you off at about 638.00 social security payment. Think you could make ends meet on that?

I have an early 20's son. Dean's List college student. Works 32 hours/wk. So I do know the price of auto insurance for a young, unmarried man.

No accidents. No tickets. None.

Liability only on his 18 year old car runs us a bit over $350/6 months. With Good Student and Multi Car/Renter's Policy Discounts applied. That's not your basic "State Mandated" Liability only. We carry $100K/$300K coverage. Plus medicals and uninsured motorist coverage.

If son were to have the car titled in his name, basic Liability only coverage would run him in excess of $250/mo.

No way does $70/mo pay for auto insurance.

I have an early 20's son. Dean's List college student. Works 32 hours/wk. So I do know the price of auto insurance for a young, unmarried man.

No accidents. No tickets. None.

Liability only on his 18 year old car runs us a bit over $350/6 months. With Good Student and Multi Car/Renter's Policy Discounts applied. That's not your basic "State Mandated" Liability only. We carry $100K/$300K coverage. Plus medicals and uninsured motorist coverage.

If son were to have the car titled in his name, basic Liability only coverage would run him in excess of $250/mo.

No way does $70/mo pay for auto insurance.

I paid $400 a month for insurance when I was 24 years old... With 0 points.