Your sister is very lucky charonh because not many of us have someone who has experienced the world of credit cards and how it can benefit/harm us when used/not used correctly.

That's how I started out when I was young. Now that I learned more about credit, I understand that it is a serious responsibility that can affect your life for years. It should really be taken wisely when you are independent, out on your own, and with family. When I was with my mom, I did not care if I did mess up my credit because I did not have any bills nor kids. Your household will come before credit any day, but there is a flip .side, your credit plays a major factor in having a place to live and to provide for your family.

Brian, that's a good plan.

You know Brian23 it doesn't always have to be paid off in 30 days, could be a huge charge where the timetable prohibits paying it off that quickly.

Just have a plan on how your going to pay off whatever you put on your card and stick to it no matter what !

That's true, but you know I value my money (the little I have left every month these days lol) and I don't like to pay CC companies those monthly finance charges, so I always try to make sure that if I charge, I can pay it off in 30 days.

You know Brian23 it doesn't always have to be paid off in 30 days, could be a huge charge where the timetable prohibits paying it off that quickly.

Just have a plan on how your going to pay off whatever you put on your card and stick to it no matter what !

I agree whole heartedly with every1's comment. Unfortunately, when I started in the credit world, I didn't have this experience or knowledge yet, so I did mess up my credit file and I have been paying the price. I always try to preach to everyone that I speak to the same statement, "dont charge if you can't pay it off in 30 days."

There's nothing worse than paying $500 dollars for a debt that was only 40 bucks originally.

Very true

Your sister is very lucky charonh because not many of us have someone who has experienced the world of credit cards and how it can benefit/harm us when used/not used correctly.

My kids were young when I got my first secured card and they watched me move up the credit card ladder based on the statement you made, "Don't put something on the card until you have a plan on how to pay it off"

The good thing charonh is that you have lived the experience and are not just blowing hot air when it comes to educating your sister and if she is wise enough to heed your advice the better of she will be in the long term

You know what smcc, I totally agree with everything you said, and am working very hard to break this vicious cycle. I do not want my children to be dependent on credit as I have allowed myself to be. I preach to my sister everyday in hopes that she will not make the same mistakes I have. Credit is a very good thing to have if you use it responsibly, however it can bring about a lot of unhappiness if you don't. In the end, it should only be used when you know you can payoff whatever you used in full or before any interest is capitalized. There's nothing worse than paying $500 dollars for a debt that was only 40 bucks originally.

You sure gas was a culprit here with our current economic problems ? When gas was at $4 a gallon what did the world do in response? Cut down on driving. Sure we still have to go to work but while at work how many of us did extra things during that commute so we wouldn't have to go back out again ?

Once demand plummeted so did the pice of oil. Also remember China and India are coming on line and will be using more and more oil but this last spike in prices was stymied by the world sayng "enough"

We are in this economic situation because we have lived beyond our means for years and its coming back to haunt us. We live in a world of immediate gratification and the Credit Card has perpetuated that. Can you imagine the credit card being in existence in the Great Depression ? The Banking Industry would have reverted back to the Abacus !

People in my age bracket saw their parents save and budget for things that they wanted/needed. Imaging that, saving up for something ? Then came us late Baby Boomers and viola, the invention of the credit card, no more "it will take about 6 weeks to save up for a washer dryer or get it repaired, I will just buy a new one right here, right now"

That's the thing I love about FG. We are like family to each other without seeing each other in person.

Self-centered perhaps is the better word?

!!!! LOL!!

Self-centered perhaps is the better word? j/k Brian!

smcc is a very understanding and supportive individual

Ok, and nothing I said was based on malicious intent, I do like to hear everyones opinion, because I feel it helps me to be a smarter and more well-rounded individual. We all cool!! LOL!

I have to agree with Brian23 on this one. Sure people were living beyond there means and people got into mortgages that turned out not to be as cheap as originally thought, but gas [prices played a big part in collapsing this economy. I mean $4 a gallon? We struggled putting gas in our vehicle for months on end because of the distance of my hubbys work. This made us cut back on ALOT of other things. I'm just saying nobody was putting money into the economy because they were putting it into there gas tank so they could get to work to make money just to put right back into the gas tank. I mean people have been living beyond there means for years now and the banks were just fine with it. Yeah there are a lot of factors that led to this recession and in my opinion gas prices was the biggest!

smcc is a very understanding and supportive individual.