 What is the best credit card for an 18 year old? |
| I am only getting a credit card so that I can make small purchases and pay them off right away to build my credit. Please do not lecture me on how to use a credit card, I am already fully aware. I ... |
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 I got ROBBED!!!? |
| I returned something back onto my debit card, but it did not post today, I have been spending money today, and I am in the negative, when realistically, there is plenty in there, it just needs to ... |
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 Is it legal to give credit to someone on social security benefits? |
| i have been given credit while on bebefits and the interest is very high, do i legally have to pay it all back? the collection agency have stopped collecting payments and now sending me ... |
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 Can you build great credit, without credit cards? If so, how? |
| I am about to have my first job ever, start paying taxes, grown up things you know. I don't want credit cards, I don't want to spend money that I haven't earned, and end up in debt, ... |
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 I need to consolidate my debt through one of those financial counseling places, but also want to keep my C.C.? |
| My biggest debt problem is a credit card that has nearly a 10K balance and about 60% of that is on Cash Advances which has a 25% APR. You see the C.C company has it rigged where making the min. ... |
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 Can I use a credit card to pay on ANOTHER credit card? |
Long story... lol. I just dont want to pay a lot of interest if I have to get cash
Additional Details
Long story... lol. I just dont want to pay a lot of interest if I have to get cash ... |
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 A collection agency drained my bank account, how can I get my money back? |
| I owe a few hundred dollars to my credit card that I hadn't been able to pay yet because of financial difficulties. I recently received a long overdue check from my previous employer for about ... |
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 Should I pay it off all at once? |
| I have a credit card that was cancelled. (We had a rough couple months) It had a very small limit on it. $300. There's $150 left owing on it, and my husband and I are having differance of ... |
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 Will paying off my loan early lower my credit score? |
| I have $140 montly due for my student loan, I want to pay the $1680 once a year insted of remembering to write a check (or worry about what is in my bank account if i set it up to withdraw ... |
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| Is it smart to get a credit card when i turn 18?!? |
im 17 now, and im thinking of getting a credit card to buy alot of stuff i want, plus of course college supplies etc.
what do you think??... |
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 I have a credit monitoring system and my recent credit score was 635? |
| I went to pull my report today and it dropped to 598 I had to charge some medical things for a family member for about 2,000 dollars and used a couple hundred on another card. DO you think that'... |
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 I was late on my credit card payments for three straight months. How much will that affect my credit score? |
| My credit score was 750 before this happened and I have not checked it since the late payments which were Mar,Apr,May of this year. My wife was handling the finances and payed a $50 minumum payment ... |
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 What is the best way to handle outstanding debt? |
| I have previously asked a question and have not got the answers i was seeking. I have a credit card debt that is over 9 years old. I understand all of the legalities of the situation concerning the ... |
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★Happy When Alone★ | Why do people struggle financially after christmas...is it because they got everything on credit for xmas? |
I'm confused here..all my friends are saying they are so hard up financially now christmas is over.
They got everything on credit for christmas is that why?
I started buying in February and had loads and more by september and it was all paid for in cash.So now xmas is over i'm ok for money.
Is credit the reason why everyone is so poor after christmas?
If so why do people continue to get it?? |
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Lily B Talus
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possibly, I can never understand why people leave all their Christmas buying until December, when they could be getting the odd present throughout the year. |
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David B
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Not necessarily. Even if they used their credit cards, they could pay part of it at a time. I think the main reason is that they buy pricey gifts for many people. No one wants to give a dud gift. And if you receive something expensive, you'll probably feel like you need to give the gift giver an equally expensive gift. Thus, people spend more than what they really should budget for Christmas gifts.
This was my first Christmas at my new job. Unlike my old job, where we didn't really celebrate the holidays because we were mostly a public place (e.g., some patrons will take offense and file a complaint), my new job has no contact with the public. So many people gave me gifts, and I tried to return the favor to some of them (I'm the new guy, and the lowest paid). This last Christmas hit me pretty hard. I used my credit cards to pay for the gifts, but then I immediately paid off my credit cards (so basically I bought everything with my savings). My savings balance today is the same as it was in November (e.g., I used several paychecks).
Considering that I'm a government employee and paid well (compared to my equivalent in the private sector), I can imagine why other people would be hard up on their finances.
Also, some people tend to go to those holiday events, such as a car dealership's winter event. Those that bought the car in December will have to pay their registration in December, as well as the smog check (if it's time). |
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Eddy T
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After Christmas it is also the start of a new year 2009. A new year of life begins.And whatever presents and food to buy had be done and debts settled. Like a company it close its books and calculates its profits.And starts a new trading year. |
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Margaret J
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Hi there,
According to a survey conducted by International Communications Research of Media PA, the typical family spends anywhere from $810-$1,105 during Christmas. The survey revealed that most of the items purchased during Christmas were purchased with credit cards. Lastly, the survey revealed that only 45 percent of those using credit cards paid the balances off over the next six months. The remaining 55 percent of those using credit cards were still making payments after six months.
The reason millions of people struggle after Christmas is the same reason millions of people are living hand to mouth, paycheck to paycheck—overspending, no savings, poor money management, and no financial game plan.
Regards.............. |
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Veronica Alicia
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It also seems, in my case anyway, that this is the time of the year when all the bills for everything else land on the doormat. Maybe people don't think to budget for anything beyond the big December spend.
For example, subscriptions to magazines, Membership fees for Clubs and Associations, my Car Insurance was December, possibly people have quarterly charges for Electricity and Gas and so on.
I've always wondered why so many Charities send out begging letters around Christmas time which is the time of the year when people have less cash to spare. |
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teddy
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because they think that by buying everything on credit cards is a good idea, conveniently forgetting that it has to be paid back, sooner than later, many seemingly have the sense of a baboon when it comes to finances. |
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DaMan
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I think you already know why your friends are so hard up financially after Christmas:
1) They didn't think strategically like you and plan their Xmas purchases at the beginning of the year. If you fail to plan, then you plan to fail.
2) You paid for your Christmas gifts with cash which made it difficult for you to spend beyond your means. If you pay with cash, you don't have to mortgage or finance your future earnings to honor the holiday spirit.
Furthermore, you won't have any bills coming in later months that warrant immediate payment.
3) Buying on credit allows you the opportunity to live (or spend) beyond your means. The unfortunate outcome is that you have to pay the attendant at the end of the amusement ride. This is why your friends will be cash poor in January.
Finally, people are poor after Christmas because:
(1) they probably bought things they couldn't afford;
(2) with money they didn't even have in the first place;
(3) to impress people that should love them regardless.
People continue this vicious cycle out of a strange sense of duty. It usually takes a financial calamity (like an economic crisis) for people to start putting their priorities in order. |
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Christine
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There are a number of reasons, purchasing goods on credit might not be so high on the agenda.
Firstly, is people can't afford to save for the extra costs that Christmas brings, all those extra nights out, extra rounds of drink, extra food and drink in the house, new clothes, cost of travel to see friends....mostly all of which are rarely bought on credit but with cash.
Also, a lot of companies pay their employees early, such as I usually get paid on the 25th of every month, but my job paid me on the 18th in December. So instead of waiting 4/5 weeks to my next pay cheque I've to wait for 6...that's a long wait.
Buying gifts for anyone apart from close friends and family has also gotten out of hand. Even within families it costs a fortune to buy everyone something.
Its difficult for a lot of people (me included) to discipline themselves to buy early for Christmas, however I do save a bit every month and take out enough to pay for all the extras at christmas. but I'm one of the lucky ones who can afford to save. I don't really live beyond my means.
But the real basis to the problem is not purchasing on credit, but basic lack of budgeting. Its a skill the majority of people will need to re-learn |
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WelshLad
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Instead of putting money away each month ready for Xmas, they tend to do it all at once and then struggle for bills in January. |
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infinite crisis 247
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it could be because of credit cards. the best answer though is because people in general spend a lot around the holidays. not only do you have too many gifts for people, but you have holiday parties, increased food spending, missed days of work (if you are at jobs that don't compensate for holidays), etc. all of those things taken together equal a lot of resolutions to save money for the new years and less spending in january. |
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