If you have credit card debt, how did you acquire most of it?

[prolesunited]

Poll question: If you have credit card debt, how did you acquire most of it?

What is the primary reason you have credit card debt?

[kick-ass-bob]

1. Not really reduced compensation as much as

a lack of being able to keep up with rising bills.
:mad:

[LynzM]

2. Can I vote 'most of the above'?

Only one spouse employed full-time, husband in school, child in daycare, travelling, job loss, medical expenses (diabetes and dental, sinus surgery for my husband), all piled together over the last year has caused most of it. Admittedly also a tendency to buy non-necessities :( Hopefully we will be able to pay it all off within about a year once he gets a job...

[smirkymonkey]

3. Grad School Loans - that's it.

I don't have any consumer credit anymore, and I want it to stay that way.

[henslee]

4. Nutty family member who does animal rescue banged the hell out of it for

three grand. Good heart but wish she would've gotten married instead of saving every stray in the world at her own expense.

[prolesunited]

6. Sounds like it's partly at *your* expense

if I'm reading your post correctly.

[henslee]

7. yeah it is. Just said it wrong.

[vpigrad]

5. Where's food?

Personally I'm in bad credit card debt after spending money on food at the grocery store, and I've worked with several dozen others that also have.

[Dora]

8. Reduced income combined with increased overhead

Husband was laid off and had to take part-time work. We were doing okay with this until our property taxes increased our mortgage payment by $400 a month.

Now things like car insurance and med bills and car repairs have gone onto the credcard instead of being paid in cash like we used to. It adds up.

sucko.

[prolesunited]

9. Sucks big time

I got stuck with a huge property tax increase this year as well. I have to work one full-time and one part-time job just to keep up with everything. :-(

Hope your husband finds a new job soon.

[Dora]

11. We decided he should stay part-time.

He's also a musician, and ever since he went part-time his musical opportunities have just exploded. Not quite enough to match the salary loss, but our household is so much happier now that it's worth the financial worry. I really wouldn't change it.

Plus, now that I'm ready to pop with our first kiddo, it's probable that he will become the primary care-giver after I return to work. I hope that we can avoid daycare, because there's no way we could ever afford that expense.

[prolesunited]

12. That sounds like an excellent plan

for him to stay home, but it sounds like the expenses and bills will keep piling up unless something changes.

Congrats! Be sure and post new baby pics :party:

[Cobalt Violet]

10. A moving truck rental & a flat tire on my car.

I owe about $110.00. I will not charge anything unless I have an emergency. I like to have at least enough credit available to rent a car should I need to.

[Lydia Leftcoast]

13. Dealing with irregular cash flow as a self-employed person

If an emergency occurs when I'm low on reserves, then I reluctantly put the expenses on the credit card. :-(

However, I try to use my debit card instead, if at all possible.

[Mountainman]

14. I paid some property taxes and made a down payment on a car for the wife

I also bought some Christmas gifts and some hobby things for myself. I know it is not the smart thing to do. I only have one card now and do not sign up for more credit though the card I have keeps raising my limit.

I know that I pay more for things by paying interest on the balance but I have learned not to see the card as real money.

[Schema Thing]

15. The vast majority is vehicles

I've put two on credit cards because the interest rates are much better than I can get for secured loans.

[Uzybone]

16. Interest fees, cash advance fees and late fees

Most of the debt I carry now is because I didnt pay on time when I was in college.

[Momgonepostal]

17. Probably car repairs