How do YOU answer the credit card question?

Avatar for cmpat
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: 10-22-2009
Thu, 11-11-2010 - 2:49pm

LOL` your funny...you can share with the board how much pay for taxes etc a yr, you even share the percentage of your down pymt on your home loan

iVillage Member
Registered: 12-07-2003
Thu, 11-11-2010 - 2:51pm
I don't think I understand your post. You are saying that you make more than $700 per year in interest on the savings you have to pay your taxes and insurance?
iVillage Member
Registered: 10-22-2009
Thu, 11-11-2010 - 2:52pm

Your back peddeling ...but as expected... so i guess you stuff your money under a matress and do not earn any interest at all......lol

iVillage Member
Registered: 12-07-2003
Thu, 11-11-2010 - 2:55pm
I'm making just as much interest as I would be if I saved each week. I simply don't categorize everything like you do. I'd rather say, "hey, I need to pay $150 for my fire fee in July." And then I pay it out of the paycheck I get around the time that the fire fee is due. On months when I don't have an extra expense like that, the money is transferred to a savings account. For all but the biggest expenses, I don't have to worry about transferring any money out of savings.
iVillage Member
Registered: 12-07-2003
Thu, 11-11-2010 - 2:56pm
Like groceries or eating out or gas or parking or entertainment or whatever.
Avatar for savcal2011
iVillage Member
Registered: 10-06-2010
Thu, 11-11-2010 - 3:06pm
Free money to me is the first thing that goes when we need to cut. If I'm spending $8 a week on lattes, or $5 a week on candy bars at the convenience store . .. I want to know it, so that if something happens to where I need to save $50 a month, I can do it by cutting stuff that's totally unnecessary.

When I first started doing this, it amazed me where some of our money went and how much we spent on stuff that we didn't realize.

"I don’t mind a banshee, that’s fine. 2 banshees? I HATE you. I actually wish bad things upon you." -- Day[9] Daily #459 P1

Avatar for savcal2011
iVillage Member
Registered: 10-06-2010
Thu, 11-11-2010 - 3:15pm
That's basically what I'm doing now. It seems to be working. For ex: last month I put myself on "no clothes or shoes" restriction, lol. Oh, and I've given myself a limit of $20 a week at the liquor store.

"I don’t mind a banshee, that’s fine. 2 banshees? I HATE you. I actually wish bad things upon you." -- Day[9] Daily #459 P1

Avatar for savcal2011
iVillage Member
Registered: 10-06-2010
Thu, 11-11-2010 - 3:17pm
To be technical, a budget only tells you where you PLAN to spend your money. If you do what you plan, a budget will tell you where you spent the money.

But if you have flexible things in your budget, then having a budget doesn't necessarily tell you whre your money actually went. (ie. you budgeted $300 for the elec bill, which was only $250. Do you know where the other $50 went?)

"I don’t mind a banshee, that’s fine. 2 banshees? I HATE you. I actually wish bad things upon you." -- Day[9] Daily #459 P1

Avatar for savcal2011
iVillage Member
Registered: 10-06-2010
Thu, 11-11-2010 - 3:20pm
I've found that my "regular but not monthly" expenses tend to almost annualize out. I may have to pay $400 in car insurance in April and October, but I don't have to "plan" for those additional expenses because in March I had the brakes done on my ar for $400 and in November I had the dog and cat's vet visit for $300 and in May I had $500 for my Chef Series tickets and in September we paid our parking fees of $250 ... they tend to all kidn of even out.

"I don’t mind a banshee, that’s fine. 2 banshees? I HATE you. I actually wish bad things upon you." -- Day[9] Daily #459 P1

iVillage Member
Registered: 01-15-2006
Thu, 11-11-2010 - 3:44pm

any mortgage that REQUIRES a borrower to escrow is essentially, doing them a favor, s/he's an FHA borrower or someone who is borrowing close to - if not all of - the purchase price, so in return for their loan, you MUST escrow.

 

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