Howdy! After the success of last week’s discussion thread, I figured we should keep going. Feel free to comment below with anything and everything money related that is better suited to a conversation or a quick question and answer than a full post. Some ideas include:
- Journaling about an ongoing job search
- Asking for ideas about how to manage an emergency fund
- Logging recent stock trades
- Talking about the impact of inflation on your budget
- Your plans for maximizing the rewards on a credit card
Again, those are just suggestions, if there’s really anything you’d like to talk about related to finance in your life, feel free to put it here.
Yes, you are right. However, how many people do you know who absolutely pay the whole balance every month without fail. I dont personally know of anyone including myself. I fell into that trap for a while and then paid them all off and cut them into tiny pieces and no longer use them
When I was young, this was the case. A friend started paying them off each month and then another friend. Now we all do.
My rule for myself is pay them off each month or put them in my desk and leave them. I also maintain a minimum balance of more than one month’s pay in my saving account. This is my back up in case something happens.
If I use anything from savings, I am not allowed to buy any alcohol until it is paid back. I like to go out for drinks with friends, so this is a strong deterrent.
I grew up very poor and would budget out the grocery with my mom every week. But we were extremely fortunate and disciplined to have never needed to take out debt. So I’ve always carried that mentality that debt was only for appreciating assets, and if it’s for someone I’m intending to consume, then I can’t afford it.