I'm back for the 3rd time

iVillage Member
Registered: 05-14-1999
I'm back for the 3rd time
5
Sat, 04-01-2006 - 3:29pm

I was here once a few lives back, almost got myself out of debt and then it started again.

iVillage Member
Registered: 05-09-2005
Sat, 04-01-2006 - 9:31pm
I totally wish you all the best in your debt free journey. You are so right -- it's up to us to prepare for the future. I really have found that having a fairly tight budget makes it easier to see where the money goes and how to save. Hang in there. We have all felt the way you do at some time or other!
Megan
Avatar for endomagazine
iVillage Member
Registered: 11-09-2004
Sun, 04-02-2006 - 3:14am

Hello,


I understand that you feel the credit cards are necessary for "emergency flights" out of the country. However, have you considered saving up enough money for "emergencies" and then putting it into a savings account, so that you have it available when you'll need it? You could transfer it back to your bank account and then use your debit card for purchases (or carry some cash) while you travel.


Currently, while paying off our credit card debt, the first thing I did was set aside $1000 for an emergency fund. This kept me from adding to the credit card charges when unexpected expenses came up. Once I've paid off the credit cards, I'm going to fully fill up an emergency fund that will hold 6 months of expenses. If you do the same, you'll never have to worry about that "last minute plane ticket" expense needing to go on a credit card.


If you know that the situation might come up, you could try planning ahead for it, so that you won't have to rely on a credit card to get you through it. Once we have 6 months of expenses saved up, I doubt that there would be any emergencies that I would need to charge on a credit card. If the emergency fund couldn't cover it, then we would set up a payment plan or save up for the expense.


I know it's hard to let go of the credit cards. They are so *easy* to use in an "emergency mode", but there are other options that would keep you from creating debt.


Sincerely,
Lindsey Schocke

Geeks on Tap: Mission Accomplished

Avatar for mymartes
iVillage Member
Registered: 03-26-2003
Mon, 04-03-2006 - 9:51pm

welcome back. i do remember you. good luck in your endeavor.

MYM

Avatar for cl_beckymk
iVillage Member
Registered: 03-19-2003
Tue, 04-04-2006 - 10:12am
Welcome back!
iVillage Member
Registered: 01-06-2005
Tue, 04-04-2006 - 11:22am

What are you currently doing to plan for retirement?

 

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