<$40 in my bank at the end of the month. No, I did not spend money on coffee, alcohol, or eating out except maybe 2x/month and ONLY for networking in the hopes that it would land me a better job.The second time I almost ran out of money:I wasn't gonna do that shit again. I simply put most of my expenses on my credit card and I continued to live my life, which is pretty frugal regardless of income. But not miserable. I set up auto-pay to pay the minimum, not the whole balance. I even bought a thing or two that was not strictly necessary--I don't drink coffee but most people do, and that's not necessary. Yet, it is for people to keep their heads on. I focused on getting resources and applying to jobs that were more than $20/hour even considering transit time. I spent time calmly and effectively researching and applying to gov assistance programs. I had lost a lot of weight recently so I invested in a new work outfit for interviews. I ended up somewhere around $2500 in credit card debt.Then, as I had carefully leveraged my research and network, I got a job that paid $50/hour. I paid off the credit card balance completely in a few months. The accrued interest meant that I had to pay an extra $100 or $200 or so, but that's nothing when you're making $50/hour. My life is so, so much better that I was able to delay that payment.So, hate on the credit card companies if you want. But don't tell general audiences of poor people not to get them. Get one yourself. Maybe you can tell your one friend who is incredibly impulsive to avoid credit but that's not everyone.And, if you're worried that someone will starve unless they use their credit, then you should be slap-happy that they have an option to prevent that! Starving is worse than debt!!" title="Sometimes Going into Credit Card Debt is a Good Idea">full image - Repost: Sometimes Going into Credit Card Debt is a Good Idea (from Reddit.com, Sometimes Going into Credit Card Debt is a Good Idea)
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I used to think you should never have a credit card because they're predatory. That is a naive and myopic thought, and most people who tell you never to use a credit card probably use them themselves.One, you need credit cards to build up credit and get out of a rent spiral. You need them for lots of things if you're going to live a normal life.Now, I remember someone once told me never to get a credit card because it will make you go into debt. Like it can reach out of your wallet and force you to buy TV's. That's ridiculous to me. I guess some people become really irresponsible once they get credit but that's not me, not everyone, and probably not even most people. Then this person argued against having a credit card because:"Consider people living around the poverty line. What if they run out of cash and need a credit card for rent and food? Then they HAVE to go into debt! So it's better not to have the card at all for that to happen! I know it seems impossible, but it could even happen to you!"Well, it DID happen to me. Twice. And thank god I had a credit card the second time.The first time I almost ran out of money:I thought credit cards were evil and just charged you interest no matter when or how much you paid them back. I spent all my time at the food bank, applying for assistance, applying for jobs, doing small jobs, and being extremely stressed. I got an interview at a big company in NYC and just barely had enough money to get there. For most of my interviews, I was freaking out and hungry and not in my right mind. I was terrified that I'd get evicted and lose all my stuff, including my laptop, so I wouldn't be able to apply for jobs, and without a shower, I'd probably stink for any interview. I know there are resources in some big cities that hook people up with free showers and stuff but it takes so much time and it's so hard. I ended up taking a pretty terrible job and even as I was earning a salary I could hardly pay the bills. I often had <$40 in my bank at the end of the month. No, I did not spend money on coffee, alcohol, or eating out except maybe 2x/month and ONLY for networking in the hopes that it would land me a better job.The second time I almost ran out of money:I wasn't gonna do that shit again. I simply put most of my expenses on my credit card and I continued to live my life, which is pretty frugal regardless of income. But not miserable. I set up auto-pay to pay the minimum, not the whole balance. I even bought a thing or two that was not strictly necessary--I don't drink coffee but most people do, and that's not necessary. Yet, it is for people to keep their heads on. I focused on getting resources and applying to jobs that were more than $20/hour even considering transit time. I spent time calmly and effectively researching and applying to gov assistance programs. I had lost a lot of weight recently so I invested in a new work outfit for interviews. I ended up somewhere around $2500 in credit card debt.Then, as I had carefully leveraged my research and network, I got a job that paid $50/hour. I paid off the credit card balance completely in a few months. The accrued interest meant that I had to pay an extra $100 or $200 or so, but that's nothing when you're making $50/hour. My life is so, so much better that I was able to delay that payment.So, hate on the credit card companies if you want. But don't tell general audiences of poor people not to get them. Get one yourself. Maybe you can tell your one friend who is incredibly impulsive to avoid credit but that's not everyone.And, if you're worried that someone will starve unless they use their credit, then you should be slap-happy that they have an option to prevent that! Starving is worse than debt!!
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