Since budgeting is a hot topic LOL

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Smarties wrote: Tue Jul 09, 2019 8:02 pm
SolidlyAverage wrote: Tue Jul 09, 2019 12:19 pm
Smarties wrote: Tue Jul 09, 2019 12:05 pm I'm curious why someone wouldn't?
Depends on what timeframe you are talking about, I guess. We use our credit card close to daily, but only pay it off monthly. So we have a balance on our credit card most of the time even though we have the money to pay it.

Or if someone has a 0% interest loan and wanted to keep the money available for emergencies, I guess.

Hmmm I wouldn't consider a bill I paid in full monthly being in debt, whether thats my credit card bill or my electric bill. But a loan I would. But overall I think people are just splitting hairs at this point.
Agreed. And it’s a bit bizarre how invested (pun intended) everyone is in how other people manage their money. Do what works for you, who cares? You can track every penny or have a vague plan, so long as you aren’t so irresponsible that someone else is going to end up footing your bill, I couldn’t care less.
Pjmm
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Anonymous 1 wrote: Tue Jul 09, 2019 3:14 pm Me? I have no desire to pay off my debt early. I prefer having my money sit in the bank where it can grow.
Oliviasmom72 wrote: Tue Jul 09, 2019 2:24 pm Yes. Pay it off
I hope it's growing faster than your credit cards interest rate. If not you're better to pay it off. I do agree about having some cash on hand but all in all my goal is to rid myself of my debt in the next few years.
Anonymous 1

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Thanks, but yeah, my debt is interest free. It's down now to under 5,000 but that's still extra money in the bank every month earning us interest. We only pay 25 a month on one and 100 on another. There is a third one but I'm paying off the balance in full this month since it was just from a 12 month interest free promo on a credit card last year. We do use other credit cards almost exclusively for purchases, but we pay those off in full monthly, so I think of that more as a bill than a debt. I hate the idea of paying for money.
Pjmm wrote: Wed Jul 10, 2019 7:32 am
Anonymous 1 wrote: Tue Jul 09, 2019 3:14 pm Me? I have no desire to pay off my debt early. I prefer having my money sit in the bank where it can grow.
Oliviasmom72 wrote: Tue Jul 09, 2019 2:24 pm Yes. Pay it off
I hope it's growing faster than your credit cards interest rate. If not you're better to pay it off. I do agree about having some cash on hand but all in all my goal is to rid myself of my debt in the next few years.
EarlGrayHot
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If you owe it then of course it counts as a debt! Where did you get the idea it's not debt if you have that amount in the bank? There is no discussion necessary.
Anonymous 1

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Honestly I ahould have worded it differently but it isn't a big deal so I didn't try to correct it. The arguments I've had actually were about whether or not someone is "in debt" if they can cover all of it. I see both sides so I play devil's advocate. I don't consider myself to be in debt though. I'm just using interest free financing to my advantage.
EarlGrayHot wrote: Wed Jul 10, 2019 8:09 am If you owe it then of course it counts as a debt! Where did you get the idea it's not debt if you have that amount in the bank? There is no discussion necessary.
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