The Recession

Avatar for rollmops2009
iVillage Member
Registered: 02-24-2009
The Recession
96
Tue, 02-23-2010 - 10:03am
Has the recession caused you to change your lifestyle, including the decision to SAH or WOH?

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“Wise men speak because they have something to say; Fools because they have to say something.”

Plato

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iVillage Member
Registered: 01-09-2009
Fri, 03-12-2010 - 11:35am

she piles all of her spending on a credit card then pays it off when she gets the statement.

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Ducky

iVillage Member
Registered: 07-17-2007
Fri, 03-12-2010 - 11:58am
This is an example of what works for one person doesn't work for another. DH and I each have our own credit card and we put almost everything on one or the other. We also pay it off every month. For us it is a cashflow tool and since we can download the statement directly into Quicken, it is a time saving tool. I don't like to carry alot of cash around, so carrying one credit card is much easier.
iVillage Member
Registered: 01-09-2009
Fri, 03-12-2010 - 12:06pm
We use a debit card....

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Ducky

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Ducky

iVillage Member
Registered: 01-15-2006
Fri, 03-12-2010 - 12:13pm
so your opinion is that if you don't spend with a credit card you're carrying alot of cash around? debit cards and bank statement at the end of the month is what works for us.

 

iVillage Member
Registered: 07-17-2007
Fri, 03-12-2010 - 12:29pm
One of the things I like about using a credit card instead of a debit card, is that if there is a dispute, I haven't paid for it yet. My credit card company will not charge me until the dispute is resolved. Another thing I like about is that my credit card company tells me way more information about my purchase - that Quicken uses- than my credit union. It is just easier for us to use the credit card to keep track of our expenses.

Does your debit card have fee when you use it? Or only if you get cash?
iVillage Member
Registered: 05-13-2009
Fri, 03-12-2010 - 12:33pm

It is only risky if you can't or don't pay it off before the bill is due. We use cards are in just the same way. We got a $500 check from our credit card company last November because of points earned. We paid no interest or fees on any of our cards. With the change in credit card legislation last month, I will keep a close eye on changes, because I think fees will start to be charged soon.

I also do the budget in our household and I can download each banking transaction, debit or credit, and track our purchases. It is enlightening. We can live on little, we have lived on little, now we're living a little as life is too short and we can't take it with us.

iVillage Member
Registered: 01-08-2009
Fri, 03-12-2010 - 12:37pm
Another thing I like about my credit card is 3-5% cash back. We get over a thousand dollars a year in "cash back" bonuses.
iVillage Member
Registered: 01-15-2006
Fri, 03-12-2010 - 12:50pm

oh, ok, that's not a big deal to me.

 

iVillage Member
Registered: 08-22-2009
Fri, 03-12-2010 - 1:05pm

I guess I am in the middle ground on this one.

We use a credit card for all on line shopping, any big ticket item where we are going to pay with money in savings and anytime we purchasing an item that is being ordered. DH also uses one when he is making a purchase that would not be considered a day to day purchase and he has not had a chance to talk to me about how our checking account is sitting (I am the keeper of accounts).

For day to day purchases we use debit. We have no fees for using it.

Add on: Just remembered another time when we use credit cards. When traveling pretty much anything that we don't use cash for goes on a credit card.




Edited 3/12/2010 1:08 pm ET by emptynester2009
iVillage Member
Registered: 05-10-2009
Fri, 03-12-2010 - 1:22pm

I do that. Almost all of my non-mailed-bill expenditures go on our cc. Groceries, gas, clothing, etc.

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