Be honest - How many of you pay your complete credit card balance off each month?

[Anonymous]

Anonymous wrote:

You have to put aside money for an emergency fund each month as part of a budget. You're right--shit happens and you have to plan for it. That's called being smart, not shenanigans.

Of course it is "smart" to have an emergency fund. Doesn't mean everyone has one, though, even if they are trying to be smart about finances. We likely will dip into our savings to pay off some debt even though I hate to do it after having a small crisis this summer when my hours got cut back and we weren't able to put anything in savings for a couple months.

While I do realize the demographics of this board skew higher income, it seems unlikely that EVERYONE has no revolving debt. THAT was what I was calling shenanigans on - it seems like no one is admitting to it even though it is highly likely that there are more like me out there with credit card debt that isn't paid off in full monthly.

[Anonymous]

Always. We don't spend if we don't have the money. DH came into our marriage with close to $40k in credit card debt, which we paid off in under 2 years. NEVER going back- over my dead body!

[Anonymous]

Yes, every month. DH gets sooo mad at himself if he is late.

[Anonymous]

Anonymous wrote:

Anonymous wrote:
Of course it is "smart" to have an emergency fund. Doesn't mean everyone has one, though, even if they are trying to be smart about finances. We likely will dip into our savings to pay off some debt even though I hate to do it after having a small crisis this summer when my hours got cut back and we weren't able to put anything in savings for a couple months.

While I do realize the demographics of this board skew higher income, it seems unlikely that EVERYONE has no revolving debt. THAT was what I was calling shenanigans on - it seems like no one is admitting to it even though it is highly likely that there are more like me out there with credit card debt that isn't paid off in full monthly.

I think that most people choosing to answer this thread are proud that they pay off their balances every month. That is why you are getting the skewed results. Doesn't mean they are lying, just that the ones with revolving debt are embarrassed/uninterested in responding.

[Anonymous]

I do often pay them off, but this month I ended up needing 4 new tires which came out to $1200 and there is still $700 on the card after paying off my usual charges and $500 of it. That card won't be used again until it is paid off from this.

[Anonymous]

I think those of us with debt just aren't posting as much.

[Anonymous]

Anonymous wrote:

Anonymous wrote:If I had the usual $200,000+ DCUM HHI I probably would have no problem paying it off every month. But as a single parent living on $80,000, most months I can pay it all, but probably about three months a year, I can't pay the whole thing.

That's an excuse. What would you do if you couldn't get credit? You'd have to live within your means.

I agree. No matter your income, you should not live beyond your means.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:If I had the usual $200,000+ DCUM HHI I probably would have no problem paying it off every month. But as a single parent living on $80,000, most months I can pay it all, but probably about three months a year, I can't pay the whole thing.

That's an excuse. What would you do if you couldn't get credit? You'd have to live within your means.

I agree. No matter your income, you should not live beyond your means.

I make 43k a year, I've had credit cards for 7 years, and this is the most I've ever made. I use the credit card for everything because it is more secure than debit and I get cash back, but I never spend more $$ than I have. I have always paid off this debt, and I am working very hard on my student loans. I live in a tiny apartment, I don't have cable, and I have to buy my furniture at IKEA. I work full time and part time. You can make it work!

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:If I had the usual $200,000+ DCUM HHI I probably would have no problem paying it off every month. But as a single parent living on $80,000, most months I can pay it all, but probably about three months a year, I can't pay the whole thing.

That's an excuse. What would you do if you couldn't get credit? You'd have to live within your means.

I agree. No matter your income, you should not live beyond your means.

I make 43k a year, I've had credit cards for 7 years, and this is the most I've ever made. I use the credit card for everything because it is more secure than debit and I get cash back, but I never spend more $$ than I have. I have always paid off this debt, and I am working very hard on my student loans. I live in a tiny apartment, I don't have cable, and I have to buy my furniture at IKEA. I work full time and part time. You can make it work!

Do you have kids? Do you have to pay for child care, kids clothes, coats, and shoes, pediatric doctor and dental visits?

[Anonymous]

Thousands in debt.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I've never paid a dollar in credit card interest in my lifetime.
We pay off about $4K/month.

+1. We pay off around $3k a month, and we don't have a high HHI.

How do you use your cards? For everyday purchases to build points?

[Anonymous]

I wish. We are in the process of aggressively paying them off and then they will be shredded and forgotten about.

[Anonymous]

Anonymous wrote:

Anonymous wrote:It seems that this is a bragging thread. Only one person claims to NOT pay off their cards in full every month? I call shenanigans.

We do our best not to have to use credit cards, but it sometimes happens. Like 2 emergency vet visits in one month that we couldn't just cover out of cash flow. Shit happens.

I pay as much as we can monthly, but sometimes unexpected expenses come up that are not budgeted for that you can't just say "we just can't afford it and won't pay it" (imagine telling the vet or the car repair shop that you aren't going to pay - HA!) and not everyone has emergency funds that cover such things.

You have to put aside money for an emergency fund each month as part of a budget. You're right--shit happens and you have to plan for it. That's called being smart, not shenanigans.

Some people try very hard to save but it's tough when you don't have much left over after basic expenses. Those of you with super high HHI just don't get this. People are not stupid or lazy for having financial troubles - it can happen to anyone.

[Anonymous]

yeah, it isnt that big of a deal if the rates are low. I get bonuses at the end of the year, so I tend to run a balance on my credit cards until November. The AMEX I pay off each month because they will kill you, but the other cards will get up to about $10K over the course of the year.

[Anonymous]

Always. My parents encouraged me to get my first credit card when I learned to drive to pay for gas. They taught me to pay it off. It wasn't until sometime in college that I realized you could even NOT pay it off monthly. I kept it up out of habit, then married a spouse who is insanely careful with money and an amazing saver.