Comments on: Surviving the Economic Crisis With Your Credit Intact http://www.creditaddict.com/archives/surviving-the-economic-crisis-with-your-credit-intact/ feeding your credit card addiction... Sun, 07 Mar 2010 21:51:18 -0500 http://wordpress.org/?v=abc hourly 1 By: Renee http://www.creditaddict.com/archives/surviving-the-economic-crisis-with-your-credit-intact/comment-page-1/#comment-1978 Renee Tue, 25 Aug 2009 19:07:33 +0000 http://www.creditaddict.com/?p=160#comment-1978 Interesting all the judgment placed on people in debt... Before you can understand how to get out of debt one needs to understand how people get INTO debt in the first place. The vast majority of the time it isn't because of frivilous spending. It is because of unexpected medical emergencies, lost job(s), change in family (another child, caring for elderly parent) or catestrophic event, like Katrina or the Red River Valley Flooding. Sadly, sometimes it a combination of these things that force families to rely on credit to keep their heads above water and food on the table. My best advice is to find a way to supplement your income, get a part time job, sell on ebay, capitalize on a hobby, let your children baby sit for the extras they want. Its a slow road and not a smooth path, but it will take you further from where you started. Interesting all the judgment placed on people in debt… Before you can understand how to get out of debt one needs to understand how people get INTO debt in the first place. The vast majority of the time it isn’t because of frivilous spending. It is because of unexpected medical emergencies, lost job(s), change in family (another child, caring for elderly parent) or catestrophic event, like Katrina or the Red River Valley Flooding. Sadly, sometimes it a combination of these things that force families to rely on credit to keep their heads above water and food on the table.
My best advice is to find a way to supplement your income, get a part time job, sell on ebay, capitalize on a hobby, let your children baby sit for the extras they want. Its a slow road and not a smooth path, but it will take you further from where you started.

]]> By: steve http://www.creditaddict.com/archives/surviving-the-economic-crisis-with-your-credit-intact/comment-page-1/#comment-1320 steve Fri, 05 Dec 2008 06:38:50 +0000 http://www.creditaddict.com/?p=160#comment-1320 "Any uncommon advice on what I can tell the people we talk to about getting out of the red?" 1) know your finances (track your spending and income like a hawk) 2) set a budget 3) act on the budget. (that's the hard part--changing what and how much you buy). the fact is if you have been in debt, you need a significant change in behavior to turn it around. The fears and uncertainty around the current economy might just be the impetus many people need to make changes they wouldn't otherwise have the willpower to make. Fear anmd uncertainty can be quite a motivator. “Any uncommon advice on what I can tell the people we talk to about getting out of the red?”

1) know your finances (track your spending and income like a hawk)

2) set a budget

3) act on the budget. (that’s the hard part–changing what and how much you buy).

the fact is if you have been in debt, you need a significant change in behavior to turn it around. The fears and uncertainty around the current economy might just be the impetus many people need to make changes they wouldn’t otherwise have the willpower to make. Fear anmd uncertainty can be quite a motivator.

]]> By: Scott Crawford http://www.creditaddict.com/archives/surviving-the-economic-crisis-with-your-credit-intact/comment-page-1/#comment-1213 Scott Crawford Fri, 24 Oct 2008 22:29:33 +0000 http://www.creditaddict.com/?p=160#comment-1213 Hey Folks, It's relieving to see such healthy discussion about the pitfalls of cards, especially these days. I was wondering if there's any risk to your credit rating if you do balance transfers too frequently. I work for a company that's trying to design a product to help people get out of debt. Any uncommon advice on what I can tell the people we talk to about getting out of the red? Thanks. Scott Crawford GoalSpring Hey Folks,

It’s relieving to see such healthy discussion about the pitfalls of cards, especially these days. I was wondering if there’s any risk to your credit rating if you do balance transfers too frequently. I work for a company that’s trying to design a product to help people get out of debt. Any uncommon advice on what I can tell the people we talk to about getting out of the red?

Thanks.

Scott Crawford
GoalSpring

]]> By: Eric http://www.creditaddict.com/archives/surviving-the-economic-crisis-with-your-credit-intact/comment-page-1/#comment-1209 Eric Tue, 21 Oct 2008 16:38:11 +0000 http://www.creditaddict.com/?p=160#comment-1209 With the excellent credit my wife and I have, we've been playing the 0% float game for years without a dime of interest paid. Get some self-control. }:o> With the excellent credit my wife and I have, we’ve been playing the 0% float game for years without a dime of interest paid. Get some self-control. }:o>

]]> By: Joanne http://www.creditaddict.com/archives/surviving-the-economic-crisis-with-your-credit-intact/comment-page-1/#comment-1208 Joanne Tue, 21 Oct 2008 14:41:16 +0000 http://www.creditaddict.com/?p=160#comment-1208 My simple suggestion is get rid of your credit cards COMPLETELY. Most of my problems were due to my credit cards and my infatuation with using them to buy shoes. My simple suggestion is get rid of your credit cards COMPLETELY. Most of my problems were due to my credit cards and my infatuation with using them to buy shoes.

]]> By: Eric http://www.creditaddict.com/archives/surviving-the-economic-crisis-with-your-credit-intact/comment-page-1/#comment-1207 Eric Tue, 21 Oct 2008 12:11:48 +0000 http://www.creditaddict.com/?p=160#comment-1207 I just looged on to WAMU's credit card website and got 0% until January 2010 and a $30,000 limit. That's insane. https://online.wamu.com/personal/credit_card/platinum_mastercard/default.asp I just looged on to WAMU’s credit card website and got 0% until January 2010 and a $30,000 limit.
That’s insane.

https://online.wamu.com/personal/credit_card/platinum_mastercard/default.asp

]]>