[...] Peter from Bible Money Matters presents Are You Building Your Credit, Or Just Going Into Debt?. [...]

[...] Peter from Bible Money Matters presents Are You Building Your Credit, Or Just Going Into Debt?. [...]

From a paid off card, I racked up a $500 bill. I paid if off in one paycheck. Then, the following week, I racked up a $800 bill, mainly because I decided to take a stroll in Best Buy (a store of 100% WANTS not NEEDS) Nobody really NEEDS anything from a place like best buy. But I purchased about $200 worth of stuff there. Put it on ye ole plastic! When I got paid, I realized I didn’t have enough money to pay it off. I have however been saving some money here and there, about $2700 total. So I returned the stuff to best buy, got a credit on the account, paid about $500 from my paycheck, and took the rest out of savings to pay the account off.

Then, the next morning, cut up the paid off cards, called each of the companies and closed the account. I now have one more debt that is slated to be paid off in January, then all that’s left is the house, which is a small affordable house in town, only about 850 sq feet. But it’s home, and in 6 more years, it’s my paid for home. I will probably die here.

I don’t have a car payment. I always drive older cars that can be purchased for less than $1,000. I once went to an auto dealer, I told him I wanted a car for less than $200 per month, he casually sent me on my way, said I’d hear back from him. It’s been five years, he ain’t called yet. From that day forward I vowed to never go to a “dealer” and beg for a loan.

I’m a human being, and American, I work for a living, and I shouldn’t have to beg for anything. When you are applying for debt, you are begging someone for money. Then they go over you with a fine tooth come, analyze every financial decision you ever made to determine if you are “worthy” of their business.

Screw that. Save for stuff. Don’t buy on credit.

[...] A lotta talk about debt [...]

ChristianPFs last blog post..Does your bag have holes? – Giveaway

[...] a post discussing debt, debt myths, acceptable debt, and reasons to avoid debt . There are some really good reasons in his list of why to avoid debt. (@ Bible Money Matters [...]

[...] Are you building your credit, or just going into debt? [...]

[...] Are you building credit, or just going into debt? : I talk about the negative impact of debt, and the lies we tell ourselves to make us feel better about debt. Share and Enjoy: [...]

[...] Are you building credit or debt? [...]

[...] Money Matters wonders if you are building your credit, or just going into debt? Using credit wisely can be tough. There are definitely right, and wrong ways to try to build your [...]