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    I will be credit-card-less by the end of the day...

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    ydekm
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    I will be credit-card-less by the end of the day...

    Post  ydekm on Thu May 27, 2010 9:23 am

    Woop woop!
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    83T'na
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    Re: I will be credit-card-less by the end of the day...

    Post  83T'na on Thu May 27, 2010 9:38 am

    Yeee haaaahhhhhhhhh cheers

    Good for YOU!!!!!!! bounce

    I've got another, 10(?) months before mine is out of the way.
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    ____
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    Re: I will be credit-card-less by the end of the day...

    Post  ____ on Thu May 27, 2010 9:39 am

    I've always been credit card-less.
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    83T'na
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    Re: I will be credit-card-less by the end of the day...

    Post  83T'na on Thu May 27, 2010 9:43 am

    ____ wrote:I've always been credit card-less.

    Is that because no one would give you one?

    Nah - you're a smart guy. You never asked for one, right? Cool

    ydekm
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    Re: I will be credit-card-less by the end of the day...

    Post  ydekm on Thu May 27, 2010 9:51 am

    I had two - and now I have none.

    Just a debit card.
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    83T'na
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    Re: I will be credit-card-less by the end of the day...

    Post  83T'na on Thu May 27, 2010 9:55 am

    ydekm wrote:I had two - and now I have none.

    Just a debit card.

    What's the harm in a debit card? scratch Or, was it overdrawn?

    ydekm
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    Re: I will be credit-card-less by the end of the day...

    Post  ydekm on Thu May 27, 2010 10:05 am

    No I have the debit card - I'm keeping it.
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    83T'na
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    Re: I will be credit-card-less by the end of the day...

    Post  83T'na on Thu May 27, 2010 10:25 am

    Embarassed Duh, me.
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    Psalter
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    Re: I will be credit-card-less by the end of the day...

    Post  Psalter on Thu May 27, 2010 11:22 am

    We just got rid of our credit card yesterday.
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    Waireka
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    Re: I will be credit-card-less by the end of the day...

    Post  Waireka on Thu May 27, 2010 11:22 am

    We have one that we bought our fridge, washing machine and lounge/dining furniture on (interest free, figured we could spend our savings on other set up things we needed when moving here).

    About $3,500 to go on it and interest kicks in next January.

    I'm selling my WRX and buying a decent (but cheaper, wrxs cost a lot here because they are Jap imports) car, the leftover has been designated to the card and a new laptop.

    ydekm wrote:I had two - and now I have none.

    Just a debit card.

    Visa Debit?

    I love my Visa Debit and my PayPal account. My bank balance doesn't.
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    ____
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    Re: I will be credit-card-less by the end of the day...

    Post  ____ on Thu May 27, 2010 11:34 am

    83T'na wrote:
    ____ wrote:I've always been credit card-less.

    Is that because no one would give you one?

    Nah - you're a smart guy. You never asked for one, right? Cool

    Never wanted one.
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    Summoner
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    Re: I will be credit-card-less by the end of the day...

    Post  Summoner on Thu May 27, 2010 11:56 am

    I held off getting a credit card and ended up getting a debit. I love my debit and it's now my main account... Most of my wages go into it and I try to spend 20% of that each pay... So I'm saving quite well and living comfortably some what.


    So 'grats on killing the credit cards. Can you now tell Adam how to do it?


    Last edited by Summoner on Thu May 27, 2010 11:57 am; edited 2 times in total (Reason for editing : engrish failed)
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    Sassydot
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    Re: I will be credit-card-less by the end of the day...

    Post  Sassydot on Thu May 27, 2010 12:17 pm

    Whoop!

    Don't have a credit/store card, just a fucking huge mortgage Evil or Very Mad
    The bank keeps trying to give me one, apparently I'm automagically approved for one with a ridiculously high limit because of having the mortgage. Bad bank. Very bad bank.

    ydekm
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    Re: I will be credit-card-less by the end of the day...

    Post  ydekm on Thu May 27, 2010 1:38 pm

    Waireka wrote:We have one that we bought our fridge, washing machine and lounge/dining furniture on (interest free, figured we could spend our savings on other set up things we needed when moving here).

    About $3,500 to go on it and interest kicks in next January.

    I'm selling my WRX and buying a decent (but cheaper, wrxs cost a lot here because they are Jap imports) car, the leftover has been designated to the card and a new laptop.

    ydekm wrote:I had two - and now I have none.

    Just a debit card.

    Visa Debit?

    I love my Visa Debit and my PayPal account. My bank balance doesn't.


    Yep Visa Debit. In the UK you could use your normal EFTPOS/Chip & Pin card online... so I was really used to the flexibility of using a debit card in lieu of a credit card.

    Just have to NOT make online impulse buys
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    scuff
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    Re: I will be credit-card-less by the end of the day...

    Post  scuff on Thu May 27, 2010 10:49 pm

    ive never had a credit dard
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    Kissme
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    Re: I will be credit-card-less by the end of the day...

    Post  Kissme on Fri May 28, 2010 7:37 am

    One of the most awesome moments I have had was paying off a 4k credit card, taking it into the bank, and cutting it up.

    The other half and I have one credit card account with mastercard and amex with a limit which is quite low. We pay everything using credit card and get the reward points. I pay the card off each month when I get paid.

    It's a brilliant system that works well for us.

    But I think if our budget wasn't done so many months in advance, it would not work so well.

    ydekm
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    Re: I will be credit-card-less by the end of the day...

    Post  ydekm on Fri May 28, 2010 7:50 am

    Kissme wrote:One of the most awesome moments I have had was paying off a 4k credit card, taking it into the bank, and cutting it up.

    The other half and I have one credit card account with mastercard and amex with a limit which is quite low. We pay everything using credit card and get the reward points. I pay the card off each month when I get paid.

    It's a brilliant system that works well for us.

    But I think if our budget wasn't done so many months in advance, it would not work so well.

    That's something I'd like to try in the future.
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    83T'na
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    Re: I will be credit-card-less by the end of the day...

    Post  83T'na on Fri May 28, 2010 8:09 am

    Yes, wait until you have 'joint financial goals'. Doing it on one income is risky.

    ydekm
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    Re: I will be credit-card-less by the end of the day...

    Post  ydekm on Fri May 28, 2010 8:16 am

    We do have joint financial goals. But just have some debt to clear first. An interest free HP, and a personal loan mainly. But I think we can get it cleared pretty quickly now the higher risk items (ie my credit cards, because I am a shopaholic) are gone. Cash budget!
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    Kissme
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    Re: I will be credit-card-less by the end of the day...

    Post  Kissme on Fri May 28, 2010 10:38 am

    Except for my student loan, I was lucky enough to become debt free a few months after uni. Paid off about 10k I had in debts. Pretty much giving us a fresh start for things plus a pretty well paying job helps even though I still quite don't earn the most. Thankfully this time next year I get about a 15k payrise which means bigger credit card limit! More reward points! Will likely put a fair chunk of it into payinf off my student loan in preparation for a buying a house in a couple of years.

    I don't see how doing it on one income is any riskier than doing it on two?

    I know a couple of people who all their pay goes into the mortgage and they withdraw x amount of cash a week and that's all they have to spend. Works for them quite well. Neither of them have ever had a credit card or loan so I think their mortgage is their first piece of debt.
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    83T'na
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    Re: I will be credit-card-less by the end of the day...

    Post  83T'na on Fri May 28, 2010 11:47 am

    Kissme wrote:

    I don't see how doing it on one income is any riskier than doing it on two?

    I know a couple of people who all their pay goes into the mortgage and they withdraw x amount of cash a week and that's all they have to spend. Works for them quite well. Neither of them have ever had a credit card or loan so I think their mortgage is their first piece of debt.

    No back up if someone loses their job or gets sick. That is, unless you have a HUGE income protection policy.
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    Kissme
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    Re: I will be credit-card-less by the end of the day...

    Post  Kissme on Fri May 28, 2010 12:19 pm

    Regardless though, you will still be left short unless the other persons income magically increases. I would say there would be more risk for a couple they have higher outgoings than a single person would.
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    83T'na
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    Re: I will be credit-card-less by the end of the day...

    Post  83T'na on Fri May 28, 2010 12:29 pm

    Kissme wrote:Regardless though, you will still be left short unless the other persons income magically increases. I would say there would be more risk for a couple they have higher outgoings than a single person would.

    Really only in 'consumables' like food, electricity, petrol etc.

    Still - the best financial strategy for couples is a 'yours, mine, ours' set up.
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    Waireka
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    Re: I will be credit-card-less by the end of the day...

    Post  Waireka on Fri May 28, 2010 12:31 pm

    83T'na wrote:
    Kissme wrote:Regardless though, you will still be left short unless the other persons income magically increases. I would say there would be more risk for a couple they have higher outgoings than a single person would.

    Really only in 'consumables' like food, electricity, petrol etc.

    Still - the best financial strategy for couples is a 'yours, mine, ours' set up.

    I disagree, I prefer a 'his = mine, mine = mine, ours = mine' set up.

    ydekm
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    Re: I will be credit-card-less by the end of the day...

    Post  ydekm on Fri May 28, 2010 12:35 pm

    Waireka wrote:
    83T'na wrote:
    Kissme wrote:Regardless though, you will still be left short unless the other persons income magically increases. I would say there would be more risk for a couple they have higher outgoings than a single person would.

    Really only in 'consumables' like food, electricity, petrol etc.

    Still - the best financial strategy for couples is a 'yours, mine, ours' set up.

    I disagree, I prefer a 'his = mine, mine = mine, ours = mine' set up.

    For sheezy.

    I used to think couples should keep some finances seperate.. but now I dont really care.

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