How do YOU answer the credit card question?

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iVillage Member
Registered: 02-21-2003
How do YOU answer the credit card question?
1432
Fri, 11-05-2010 - 3:30pm

Why can’t you just use your credit card?



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iVillage Member
Registered: 12-07-2003
Thu, 11-11-2010 - 2:34pm
I think it's more personal to know you pay $7000 in taxes than to know how much you make in interest. I understand if you don't want to answer though. I wouldn't want to make a fool of myself either by telling everyone that I'm bragging about a whopping $100 bucks or so max that I make by holding my taxes and insurance out of escrow.

And if it is actually a significant savings, I would think you would be happy to share the amount you save.
iVillage Member
Registered: 10-22-2009
Thu, 11-11-2010 - 2:36pm

If you are talking about this...

"How much money you are amaking on those 7 g's depends on several factors including: What is the interest rate? Over what period of time? How often is the interest calculated and paid during the period?"

I was not asking you to answer the questions I was telling you how much money you are earning depends on interest rate, period of time and how often...they were given as examples...


iVillage Member
Registered: 12-07-2003
Thu, 11-11-2010 - 2:37pm

Not in that I save $5 each pay period so I can save for the fire fee I pay once a year, and $25 each pay period for Christmas, and $25 each pay period for vacation. My philosophy is to pay for things as they come up. I have a savings account set up for just this purpose. In months when we have more expenses, I might transfer some money from the savings account into checking. Most months, I transfer extra money into the savings account.

iVillage Member
Registered: 10-01-2010
Thu, 11-11-2010 - 2:41pm

Again, it is a personal question but thanks anyway for trying to figure it out.

iVillage Member
Registered: 10-01-2010
Thu, 11-11-2010 - 2:42pm

Spending money to me is "free" money and I don't care where it goes as it is for whatever I please. I don't take much so I pretty much know where it goes go but I wouldn't write it down to see what I could cut out because that is not money to try to cut down.

iVillage Member
Registered: 10-01-2010
Thu, 11-11-2010 - 2:44pm

lol!! Ok. Do you honestly think I would say exactly where I put my money?

iVillage Member
Registered: 12-07-2003
Thu, 11-11-2010 - 2:44pm
Every once in a while, I sit down and track what we're spending on different things. Sometimes I might notice that we've been spending a lot of money on one thing that we probably should be spending less on. That seems to work pretty well for us.
iVillage Member
Registered: 10-01-2010
Thu, 11-11-2010 - 2:46pm

Again, I didn't give the exact amount for both my taxes and insurance or where it is saved.

And again, if you read my previous posts you would see that any interest I make is over the amount I have been asked each year to provide (last time was $700) the mortgage company for escrow.

iVillage Member
Registered: 10-01-2010
Thu, 11-11-2010 - 2:47pm

I would rather have the money each week set aside than to keep taking it out of a savings account. By doing that, you are not making the interest you would by leaving the money in there.

I have a certain amount for each thing (I do budget for my electric and oil so I know exactly how much the bill is each month). My savings go into different accounts so that money stays there and makes money. It is not taken out to pay bills.

iVillage Member
Registered: 10-01-2010
Thu, 11-11-2010 - 2:48pm

Like what?

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