Comments on: 10 Lies that Got You (and Keep You) in Credit Card Debt

By: MoneyEnergy

MoneyEnergy — Thu, 21 May 2009 00:55:59 +0000

I know I’ve fallen prey to #4, buying it because it’s cheap or a small amount – makes you feel like it’s easy to pay off, but all those $3.00 purchases really add up. Also, love the point about “The one thing I’ve learned is that great deals generally come and go pretty regularly.” I don’t generally shop for shopping’s sake, but it’s easy to see how the deal will pull people in. I think this is a great reminder that there will always be “deals”!

By: DR

DR — Sun, 22 Mar 2009 14:03:43 +0000

Rick, I’m not sure I understand your comment. In some cases, we take advantage of 0% offers, put the money in a savings account, and earn the interest rate spread. We then pay off the card before the intro rate expires. Is this credit card debt? Well of course it is, but not in the way most people think of credit card debt.

By: Rick

Rick — Fri, 20 Mar 2009 21:58:12 +0000

11. Pretending that 0% credit card debt is not credit card debt

By: RAJEEV TIPS

RAJEEV TIPS — Fri, 13 Mar 2009 18:12:18 +0000

Very well written.. Truly agree that most of credit card debt is our own creation…

By: tom

tom — Fri, 13 Mar 2009 16:25:40 +0000

Some of those points are funny, especially number 10. But did you mean to say student loans not credit cards, because I don’t think students use credit cards to pay for tuition.

I know the interest goes up huge after they graduate but thats on a student loan though.

Also, assuming they will pay it off later never works, because now you are done school, you are buying a car, a new job, and maybe even a new place, so you have additional expenses and lets not forget to factor in the unexpected costs.

By: Trevor @ FN

Trevor @ FN — Thu, 12 Mar 2009 22:38:32 +0000

Great post. And, no, just because it’s a bargain doesn’t mean that you need to buy it! Great points!

By: Craig

Craig — Thu, 12 Mar 2009 19:49:24 +0000

I always fall to the I deserve it problem. I may be out and have no interest in buying something, then quickly find something that grabs me and I’ll say I deserve it, it’s just one item. Well those can add up.