Comments on: Is Credit A Form Of Security? http://www.askmrcreditcard.com/creditcardblog/is-credit-a-form-of-security/ Latest Credit Card News, Reviews and Information Sat, 07 Nov 2009 23:38:59 -0600 http://wordpress.org/?v=2.8.5 hourly 1 By: Rich Life Carnival #28 | Rich Life Carnival http://www.askmrcreditcard.com/creditcardblog/is-credit-a-form-of-security/comment-page-1/#comment-95202 Rich Life Carnival #28 | Rich Life Carnival Sat, 17 Jan 2009 09:23:41 +0000 http://www.askmrcreditcard.com/creditcardblog/?p=2948#comment-95202 [...] Credit Card presents Is Credit A Form Of Security? posted at Ask Mr Credit [...] [...] Credit Card presents Is Credit A Form Of Security? posted at Ask Mr Credit [...]

]]> By: TStrump http://www.askmrcreditcard.com/creditcardblog/is-credit-a-form-of-security/comment-page-1/#comment-94432 TStrump Wed, 07 Jan 2009 22:27:50 +0000 http://www.askmrcreditcard.com/creditcardblog/?p=2948#comment-94432 I'd have no problem using my credit cards in an emergency situation, Sometimes, there isn't a choice. I even have a line of credit handy, just in case I need money quickly. Having said that, both would be paid off immediately. I’d have no problem using my credit cards in an emergency situation,
Sometimes, there isn’t a choice. I even have a line of credit handy, just in case I need money quickly.
Having said that, both would be paid off immediately.

]]> By: BlueJeans http://www.askmrcreditcard.com/creditcardblog/is-credit-a-form-of-security/comment-page-1/#comment-94412 BlueJeans Wed, 07 Jan 2009 17:54:05 +0000 http://www.askmrcreditcard.com/creditcardblog/?p=2948#comment-94412 Hey Connie, Excellent Article: I want to add some experience to your truth... When I was fresh out of college with no financial intelligence and raising. Life hit me hard with problem after problem and I never really tried to save. I took loan out after loan out, until I got to the point where I could not afford all my payments. I ended up borrowing money from my 401k to payoff some of my loans. The pattern got so bad that when I did learn my lesson and I was still having "life's" minor problems I still could not afford to save. Forcing me to live paycheck to paycheck... it was by fortunet karma I came across an increase income last year (and other factors) that I can afford to save. It is such a relief to have my savings now and when "life's" minor problems occur not to dig into another line of credit. For the first time in years I can now breath and save, and pay off some of these loans. (crossing fingers for two years) What I'm trying to say though is if I knew about some of tips above, when I first came out of college. I could've (and should've) used them to build myself an emergency fund while using credit for life's minor issues (car breaking down and etc). That way when I had a true emergency I wasn't digging for a signature loan to bail me out . A year or two after being out of college I could have a nice emergency fund, have the credit paid off and a rainy day fund (for life's small issue). Three nicely built damns before I even think of borrowing against my retirement. I treasure the lesson, but not the impact that happened against my retirement. Excellent advice! Hey Connie,

Excellent Article:

I want to add some experience to your truth…

When I was fresh out of college with no financial intelligence and raising. Life hit me hard with problem after problem and I never really tried to save. I took loan out after loan out, until I got to the point where I could not afford all my payments. I ended up borrowing money from my 401k to payoff some of my loans.

The pattern got so bad that when I did learn my lesson and I was still having “life’s” minor problems I still could not afford to save. Forcing me to live paycheck to paycheck… it was by fortunet karma I came across an increase income last year (and other factors) that I can afford to save.

It is such a relief to have my savings now and when “life’s” minor problems occur not to dig into another line of credit. For the first time in years I can now breath and save, and pay off some of these loans. (crossing fingers for two years)

What I’m trying to say though is if I knew about some of tips above, when I first came out of college. I could’ve (and should’ve) used them to build myself an emergency fund while using credit for life’s minor issues (car breaking down and etc). That way when I had a true emergency I wasn’t digging for a signature loan to bail me out .

A year or two after being out of college I could have a nice emergency fund, have the credit paid off and a rainy day fund (for life’s small issue). Three nicely built damns before I even think of borrowing against my retirement.

I treasure the lesson, but not the impact that happened against my retirement.

Excellent advice!

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