Community Chat

[catter70]

I'm not one much for using credit cards. The most they get used is for payment of my medications that are sometimes pretty pricey. Pretty much everything else, I use cash.

[Imaoldhippie]

If anyone is being frightened by the CC bill, then you are in for some serious self changes.  Only you can change that.  Change could be any thing from dropping some people off your gift list, reducing the cost of gifts.  Suggesting to family to draw names, etc, etc and on and on.

I know because several years ago I had to make some drastic changes in gift spending.

[kaydee50]

Never.  I pretty much know how much I've spent and always pay off my credit cards in full.

[candys mine]

NOPE.  But if I Were Frightened,  I'd be checking my balance BEFORE I bought something.

[chrystaltree]

No... because I'm 62 and I learned financial responsibility long ago. Ok, not so long ago. I was 50ish when my brain went boingggg! I realized I could make a fabulous Christmas without going into credit card debt. That sinking feeling when the bills came and then waiting for my income tax refund to pay the debt down was not smart. I say down because I never completely paid the debt off. Every payday, I deposited money in my credit union account. I never took never took money out. That was my Christmas money. I used credits strategically and paid the balance completely off before Easter. It was such a good feeling that first year that I continued it.  Then I started using my debit card for smaller purchases and practically all my shopping channel purchases.  If it doesn't fit on my debit card, that means I can't afford it.  So move on.  

[HisElk1]

We do not fear looking at our credit card each month.  My dear dad taught me at a young age how to budget my money.

Each month we set aside in a different account $ for Christmas, taxes on our home,  car insurance, homeowner's insurance so that when the bill arrives, we have it saved to pay it in full.

We do the same with quarterly bills; when it comes due, we don't have any worries about how we'll pay it.

We also set up a fund for health issues and sock $ into that account each month just in case.

[hckynutjohn]

@GoneButNotForgotten 

Nope! Since I buy no presents, my credit card activity is on par with the rest of the year.

hckynut 🇺🇸

[AngelPuppy1]

No.  I act like I am using cash, and I don't go beyond what I can afford.  If I can't afford to pay off the entire balance, then I don't put it on the card!  Nothing worse than buying all your Christmans things on credit and then having to look forward to practically a whole year of paying it off!  No thanks...  

[Shanus]

@GoneButNotForgotten  This time of year and all year, we don't spend/charge more than our budget is set to put on cards.

Although DH still works full time at his practice and I work part time, I'd say we're not on a fixed income...yet. I say that not to sound "rich", but we're also at an age when saving for retirement is our number one concern.  

We only charge what we know in advance will be paid off each month. We also canceled all cards and just have one to use for the business expenses and one for groceries, personal items, etc. 

At this time of year, gift expenses and any clothing we may want on sale is discussed and amounts figured before purchased. 

Ah, the joys of being married to an accountant!!!

[Warrior2022]

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@sunshine45 wrote:

not really......

i have my own personal christmas club fund.

i do the 52 week money challenge and the 365 penny a day challenge throughout the year.

i begin using the cash accumulated for the holidays to purchase whatever items that i need for gifts and whatever is leftover goes to the credit cards.

i end up with $2,045.95 doing both challenges.

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Tell me about the challenges please?  Thank you.