Posts by Robin Wright27

George Phillips said:I feel like this is just such a huge misconception from people who are constantly living in the red. Every single person I've talked to in that spot claims they couldn't cover their monthly bills without that overdraft, but they don't really see (or maybe they just don't want to see) that the amount they put themselves in debt for was likely spent all at once. Then, with every new paycheck, they're basically just plugging the hole they already dug (+ interest, obviously, which is pretty steep), so they end up permanently living on a paycheck that's been shrunk by interest payments. Like, it's pretty obvious they could totally manage on their full salary if they weren't doing that.

I get the logic, truly. I am fully aware that the money was spent once, and believe me, I tried to avoid the overdraft. But then what? Am I supposed to go hungry? Strip myself bare? Let my kids live in absolute poverty? I won't have it...
I work hard, and I want my children—and myself—to have the essentials, things I never had growing up...
Let THEM enjoy their lavish lifestyles; if the government can be drowning in debt, why shouldn't we be allowed to survive too?...
To be clear, I would love nothing more than for all of us in America to be in the black and enjoying the fruits of our labor, but apparently, we are viewed as nothing more than insignificant tax cattle...

Casey Palmer5 said:I’m with you on avoiding the negative balance—it can definitely be a double-edged sword... but banks actually offer way more than just one paycheck's worth of credit. In my case, they'll let me go down by almost three full paychecks.

No one is foolish enough to recommend living in the red, yet I suspect few people earn enough to actually make it through the month without help—so if one must resort to credit, it may well be a lifelong necessity for those working honest jobs... unfortunately, that is just the reality here in America.

Ronald Allen said:So, that’s the math for now. We'll just have to see how things play out. Trust me, I'll keep you guys posted. It’s true that when you have more cash, you tend to spend more, but I think I can manage some self-control. Maybe if my wife helps me out by—hopefully—confiscating my Visa charge and only handing it back when we actually need to pick up some groceries, this whole plan might actually work. Wish me luck...

P.S. Robin Wright27, I really hope you get that raise soon. I can only imagine how stressful it gets trying to cover everything for two kids in school. Good luck!

Thanks, Ronald, but you only live once. I've become so accustomed to living on credit that I don't even stress about it anymore; after all, the government is in debt, the whole world is in debt—so why worry? Let's just take it as it comes. Besides, I'm spending on essentials. You know the saying: things will look up eventually...

Ronald Allen said:Honestly, if God would just give us bigger paychecks and maybe a little more common sense when we pull out our wallets, life would be easier.
So, look, I’ve got this Diners Club card that’s switching over to revolving credit in about a month. Since I’m basically using it just to cover groceries—and given what I actually bring home—here’s how the math shakes out: over three months, I’d hit my credit limit. But, I’d at least $167 make a payment every single month. In those three months, I'll have three paychecks plus some extra bits coming in, and the balance on the card will top out at $67. Once you factor in that revolving interest rate (around 4%, minimum $33), the debt won't actually exceed the limit itself. If I stick to the plan and live strictly off the card without going over the limit while still paying my regular bills, I’ll still have a decent chunk of cash left in my checking account. That way, for three months, all the household bills are paid on time from my salary—which is the most important part to me!!!—and there's still money left over. After those three months are up, I clear the whole revolving balance with Diners Club, and I’m left with slightly less than one full paycheck in my account. Don't come at me here; I'm speaking from actual experience regarding my own spending habits. Believe me, I'm using this card for essentials, not for blowing money on junk or luxury items.

There is some truth to that—though I lack the inclination to run the numbers myself since my expenses tend to scale higher with two kids in school. It all boils down to this: if you have a bit more breathing room in your budget, you simply spend more, and then comes the inevitable complaining—about the when, the how, and the where.
Come on, my friend—if you can conjure up a few more presentations... why not?

ironsurfer10 said:What kind of math are you using there? 🤔

Come on, walk me through it! 🙂

I’m already on a revolving plan, but by my own estimation, I’ll still be struggling to stay afloat for at least another year...😵🙂

🙂

The youth are reckless—they don't even grasp the reality of credit cards yet.🙏It seems so simple, doesn't it? You just swipe the card and you're done—then you head home.
While cards are certainly useful—and I've personally cleared up more issues with them than I ever could with checks—one must remain cautious. It is far too easy to spiral into debt, and what then?
Regrettably, we will likely be dealing with the fallout for quite some time, but one must keep moving forward...
I say again: exercise CAUTION with those cards, and may Bogart help us all.

darkmaker94 said:When I signed up for my American Express, I set my billing cycle to run from the 1st to the 7th of the month. But they just sent me my statement today on the 23rd, and it says the due date is November 27th.😕 That doesn't sit right with me. What happens if I wait until, say, December 5th to pay them? Am I going to get hit with interest?

P.S. Has anyone actually used that online bill pay option? Does that also charge those extra fees, like the ones you get when you're pulling cash out of an ATM?

You can actually adjust your billing cycle through the American Express online portal...
It’s safe to assume they charge that 5% fee—similar to an ATM withdrawal... $333-$20 at least, that's my impression.