Who do you work for?
By savak03
@savak03 (6684)
United States
October 19, 2009 11:28am CST
When we get to a certain age where we realize that it takes money to get the things we want we start thinking about getting a job. If we are still living at home we can probably get a part time job that gives us a little spending money for luxuries.
When we get older and decide we want a place of our own or want to have our own family we know that we must make some serious money to make that happen.
Planning ahead for where we want to be in the future is wise but all to often, with the ease of getting credit we are able to get the things we want instantly and pay for them later.
You think you are doing fine with your mortgage and car payment, then you get offers for those credit cards. This will be nice you think. With the credit card I can get that new dishwasher or boat now and take years to pay. That's not so bad you think.
Credit was supposed to be a tool that helped people have a life, but all to often it has turned into a trap that enslaves us day by day. When you make a list of the things you want and how much the monthly payment will be it is easy to think that you can handle that. The reality is that a lot of people will rack up payments for every dollar of their take home pay without allowing for the day to day living costs. They never think about the mundane things that take money every day or about the emergencies that may come up like getting sick or something breaking down.
Soon they find that there is not enough money coming in to cover everything and they start making only minimum payments on the credit cards and sometimes putting other bills off until next month. This is, of course, a lose, lose situation. If you put off a bill until the next paycheck that only means you have to pay twice as much. Since you didn't have enough to pay it the first time how do your think you will pay it when it's double? And if you are paying only the minimum on your credit cards you will never get them paid off. Most of the time the minimum only covers the interest that was charged to the card that month. Sometimes it doesn't even cover that and you see your bill get higher and higher even though you are paying every month and not making any new purchases. You will still be paying on the things you bought on credit way after you have worn the item out and need to replace it.
So, who are you working for? Yourself or the credit card companies?
2 people like this
11 responses
@savak03 (6684)
• United States
26 Oct 09
As long as you keep your spending under control and use your credit wisely you will never have to worry, Zone. You sound pretty responsible to me.
Aking, I'm not sure what you are trying to say here. Are you sure you got this comment in the right discussion?
I thought it was just me 
@saqibthe007 (39)
• United Arab Emirates
20 Oct 09
First of all you have to check yourself that hows your management skills. Because in order to make your own company your management skills should be excellent other than your expertise or job type.
@stephcjh (38473)
• United States
20 Oct 09
I work for myself, my family and the bill collectors. I sure do not give my money to those credit card companies. they are such a ripoff. I have credit cards and use them occasionally and pay them right back off before interest accrues.
@savak03 (6684)
• United States
26 Oct 09
I had one I used to do that for. They kept raising my limit because I paid it off every month without having to pay any interest. Soon my credit limit with them was thousands of dollars. Yep you guessed it they hooked me and I went into big time debt. That's why I can speak about this subject with authority.
@mysdianait (66009)
• Italy
19 Oct 09
No credit cards here. Istopped using them years ago. I am very wary now of spending and getting into debt. I have a job which covers the running costs of everyday things and a bit over but I daren't spend anything extra because if the job I have was to end another would be hard to come by 
There is only me rowing my boat and I do not want to end up having to ask anyone for help. That happened once some years back when a job ended because the firm closed and it taught me many a thing. Nope, I am working for me not the banks!
There is only me rowing my boat and I do not want to end up having to ask anyone for help. That happened once some years back when a job ended because the firm closed and it taught me many a thing. Nope, I am working for me not the banks!@mysdianait (66009)
• Italy
26 Oct 09
You want to borrow the boat or the oars? 
Take it Savak. I use it quite often, unless I am pedalling my bicycle which is another phrase I use too
Gosh you have been busy! Still not quite sure what you do but I will not ponder any longer on the phrase that you used. I might be wondering whether it is... no never mind 
Take it Savak. I use it quite often, unless I am pedalling my bicycle which is another phrase I use too
Gosh you have been busy! Still not quite sure what you do but I will not ponder any longer on the phrase that you used. I might be wondering whether it is... no never mind @savak03 (6684)
• United States
26 Oct 09
There is only me rowing my boat. I like that, mind if I borrow it? Indeed as we get older we have to face the fact that jobs may not be readily available. Heck in today's economy you don't have to be older to face that reality. I wonder if things will ever get better.
Sorry it has taken me so long to get back to this discussion. I have been working my fanny off this week covering territory for another merchandiser who took some time off (must be nice to not need the money) and taking on new territory from a merchandiser who quit. (again must be nice) Anyway I'm going to try to catch up a little today while I wait for a pay deposit that is due so I can get some more gas to go work some more.
@littleowl (7157)
•
22 Oct 09
Hi savak,
Looking at it the way you have said with all these credit cards etc really whatever we pay for we are paying the credit cards and that is why people work to pay the credit cards for the things they want or need, it is as simple as that..unless you can afford to clear the card off each month you could be paying these companies til the da you die...LoLo
@suzzy3 (8342)
•
21 Oct 09
This is a very good discussion as it affects so many people.Credit should be used to help out sometimes not to live on.Someone I knew a few years ago ,he lost his job his wife had four kids and liked the good things in life.She was used to it,she offered me in for coffee one day she had enough fruit in bowl she had a fridge full of food,not cheap either.She confided that she lived off the credit card as her husband was not bringing enough in.They had a lovely rustic cottage.The best cloths,her kids looked like child models but she did not own a thing,everything she had was on the card.It took nearly all her husbands money to pay it every month.She was convinced things were going to get better.He was proping up his fathers business he would rather work for nothing then find a proper job as it turns out.They lost the house and ended up in rented accomadation in the bad end of town.They just got so deep they could not keep up with it.Then you get the hard working man who loses his job and then has to find mortgage money,food money and somehow pay a card bill as well ,that is unfair and feel so sorry for people that get like that.It must be miserable way to live.we do have a credit card but don't live on it by any means.But they reckon we are all three wage slips away from disaster.Frightening but true.
@savak03 (6684)
• United States
26 Oct 09
three wage slips away from disaster. That's a good one. Some of us though are closer than that. The phrase in this country is living paycheck to paycheck. There was a report I read one time that said we should put back the equivalent of at least three months salary to cover us in case of disaster. I have read other reports that said we should put back more but I have forgotten the statistics. The truth is you can't save anything when you are living hand to mouth.
@Hatley (163781)
• Garden Grove, California
19 Oct 09
hi savak I forget the statistics now but I saw someplace that most Americans owe thousands of dollars on their credit card.I
have been there and done that,had to go to credit counselors that helped me to finally get out of debt except for one store that absoultely refused to lower their interest rates,so never did get them paid off and finally ten years, fifteen years went bye and that bill was outdated. but I never took out another credit card, just too darned easy to get in debt and nearlyimpossible to get out once you are in. Now I am retired and only have a debit card which immediately takes money out of my checking account to pay my bills hence I am not building up any debts. also I no longer work so live on so cial security and ssi.
@gitfiddleplayer (10362)
• United States
19 Oct 09
I don't work for the credit card companies, I dont need credit, I have cash. I know a lot of people fell into the debt trap and now are having to climb their way out, its a choice we have to make or unmake. I don't want to buy my credit either, if I cannot pay cash for it, I probably don't need it.
@savak03 (6684)
• United States
26 Oct 09
Have you always been this smart or did you have to learn the hard way? Many people would be surprised what they could get by without if they just tried. And if they keep getting into debt they cannot pay they will learn first hand how to survive on nothing.
@zhangfzoe (432)
• China
20 Oct 09
As you explained in detail about this topic. I checked my financial status. Luckily, I am working for myself as I have only one credit card without using mortage. But it seems that I have not take the advantage of the credit card's function.
@savak03 (6684)
• United States
26 Oct 09
Sometimes it is better to not take advantage of a credit cards function. It is sooo easy to just spend the money with the thought that you don't have to pay it back right away. That is the trap the credit cards are. If you are not careful you will be making payment for the rest of your life for things you could have done without or have already used up.
@Fulltank (2882)
• Philippines
19 Oct 09
Got two credit cards and one debit card. One forth or my salary goes to paying them. Thats the ceiling of my payment to them. If I end up spending more using my credit card, I ended up working just for them. I don't want to do that, thats why budgeting is the key for any financial problems we have. And the interest, damn they are huge.
@svrider88 (115)
• United States
20 Oct 09
I'm happy to say no credit cards here. I buy what I can when I have the money for the most part. Wants can wait for another day when I get older. The only debt I have is to my credit union which I always manage to pay off early. Just paid my car off 2 weeks ago and combined the signature loan I had to repair the car with a new signature for my new motorcycle. That is the only payment I have that is owed every month and I have it down under 100 a month. No more big spending for me for a while.
