Holiday Credit Hell and YOU

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The American Banker's Association found that most of us don't finish paying off the debts incurred during the holiday season until April or so. I for one am feeling that this is not inaccurate at all, though my debts incurred in the last six months aren't really anything to do with the holidays per se. How about you folks? This isn't just about presents, this is about travel costs, dining out, big dinners, christmas parties and the like. Do most of you agree that Xmas et al. kill your wallet dead?

I'm interested because I think most of ILX is in a demographic which doesn't follow this trend. Prove me wrong with your budget balancing horror stories.

― TOMBOT, Wednesday, 24 December 2003 14:30 (twenty-one years ago)

I'm so afraid of debt; I pay off both cards every month. I may buy one nice present for my folks but nothing else this year. However I expect to wreck my finances next month due to my two-week roman vacation. It'll be worth it though.

― teeny (teeny), Wednesday, 24 December 2003 14:55 (twenty-one years ago)

i'm so fucked with debt i don't want to think about it!

― yetimike (McGonigal), Wednesday, 24 December 2003 15:01 (twenty-one years ago)

This phenomenon is often given as the "compassionate" reason for laying people off in mid-December, so they won't buy stuff they can't pay off.

― Andrew Farrell (afarrell), Wednesday, 24 December 2003 15:02 (twenty-one years ago)

Haha well the Italian economy is for shit right now so you might not come out so bad. I normally pay off both cards every month but recently that has been impossible. Boo.

xpost Andrew I don't think that's ever stopped anyone though.

― TOMBOT, Wednesday, 24 December 2003 15:02 (twenty-one years ago)

HAHAHAHAHAHAAHAHAHAHAHAHA

Hang on, hang on.

HAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA

Wait, I got to catch my breath.

HAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA

(translate: quite often I open my bills and am tempted to just kill myself to spite the credit card companies)

― Allyzay, Wednesday, 24 December 2003 15:07 (twenty-one years ago)

i'm still in about 2 grand worth of debt, but not from holiday shopping. More like the cash I owe visa, my shrink, and the credit union.

oh yeah, and at least $25K in debt for student loans.

― El Santo Claus (Kingfish), Wednesday, 24 December 2003 15:09 (twenty-one years ago)

A couple of months ago, I got a notice with my monthly "statement" (as in, "We, the Bank, do hereby state that we own ya ass!") that I didn't have to make a payment that month. They were giving me a month off. As in I didn't have to make a minimum payment. But interest and fees would still accrue.

"Dear Mr. Mann,

We, the Bank, have decided we like your money. Please send more."

― Huckleberry Mann (Horace Mann), Wednesday, 24 December 2003 15:12 (twenty-one years ago)

I'm with Teeny -- I fear debt like the plague. All my friends are in up to their ears. No thanks, fockers.

― Jeanne Fury (Jeanne Fury), Wednesday, 24 December 2003 15:12 (twenty-one years ago)

I got a credit card when I was 16 and my mother told me that it was mandatory that I paid it off every month because that is the way credit cards worked. I didn't realize until I hit college that I could actually let the balance carry over. I have like 3 credit cards now and I always pay them off every month. I will eat ramen everyday, start moonlighting as a dancer, and sell everything I have on ebay before I go into debt.

― Carey (Carey), Wednesday, 24 December 2003 15:18 (twenty-one years ago)

I missed a payment thee other month, and was subsequently charged a fee of 25uk pounds for my impertinence, or suchlike.

Yesterday, I get a letter from the credit card company, basically saying that as I'm such a responsible payer, they're upping my credit limit again.

I could now either pay off 1/2 of my mortgage, buy a used bristol 411 in decent condition, buy a small buchla modular synthesiser, buy *2* real dolls etc etc. If I want to dig myself into a hole it'll take 10 yrs to get out of that is.

I'm going to phone them in January and ask them to reduce the limit. It's like a fucking black hole, and it scares me mightily. All I use the thing for is buying cottage-industry analog synthesisers from the usa and Canada anyway, feh.

― Pashmina (Pashmina), Wednesday, 24 December 2003 15:19 (twenty-one years ago)

I used to pay off all cards every single month until I made the purchase of a computer, several vacations, and Christmas presents all at once. It was completely downhill from there. I made a good effort for a while but it just became overwhelming and my personal lifestyle was not the most fiscally responsible at that point in time, what with the spending every single night out at a club or bar. BAM suddenly my AMEX and Discover (both with $5k limits) are maxed/overlimited and my store cards (which I have a LOT of, those all carry about $2k limits) are all heading the same way. About two months ago I took every card but my debit card and my Discover card and chopped each one into tiny bits.

― Allyzay, Wednesday, 24 December 2003 15:21 (twenty-one years ago)

I missed a payment thee other month, and was subsequently charged a fee of 25uk pounds for my impertinence, or suchlike.

Yesterday, I get a letter from the credit card company, basically saying that as I'm such a responsible payer, they're upping my credit limit again.

"Dear Mr. Pashmina,

We, the Bank, have decided we like your money. Please send more."

― Huckleberry Mann (Horace Mann), Wednesday, 24 December 2003 15:21 (twenty-one years ago)

So basically what I am saying is don't go to clubs.

xpost

― Allyzay, Wednesday, 24 December 2003 15:22 (twenty-one years ago)

Yes, that's what I thought.

See also, 'yes, mr & mrs pashmina, we know your endowmant mortgage is going to underperform by between 3 and 10 thoudand pounds, but that's OK, we can give you a loan at the end of it'

bastards.

― Pashmina (Pashmina), Wednesday, 24 December 2003 15:23 (twenty-one years ago)

(x-post)

― Pashmina (Pashmina), Wednesday, 24 December 2003 15:23 (twenty-one years ago)

('thoudant'!???)

― Pashmina (Pashmina), Wednesday, 24 December 2003 15:24 (twenty-one years ago)

I cut up a store card yesterday because I've told the fuckers twice my new address and they haven't changed it, they just keep sending the bills to the old address and then sicing the creditors on me when I don't pay.

― teeny (teeny), Wednesday, 24 December 2003 15:24 (twenty-one years ago)

and then the banks have the nerve to slap service charges on us!

― Huckleberry Mann (Horace Mann), Wednesday, 24 December 2003 15:25 (twenty-one years ago)

Teeny, I also had that problem a lot, or like if there was a dispute they'd take forever to give you a credit at all or deal with it. Macy's was the worst with this.

― Allyzay, Wednesday, 24 December 2003 15:26 (twenty-one years ago)

store cards are absolutely for shit. I have a barney's one that I got as a souvenir though (and also for the 10% discount)

― teeny (teeny), Wednesday, 24 December 2003 15:30 (twenty-one years ago)

Every store card I ever got I got for that stupid 10% discount. OH HOW THEY LAUGHED AND LAUGHED WHEN THEY GOT A 400% MARK UP ON THE INTEREST.

― Allyzay, Wednesday, 24 December 2003 15:30 (twenty-one years ago)

you mean the store didn't have YOUR best interests in mind?

― Huckleberry Mann (Horace Mann), Wednesday, 24 December 2003 15:32 (twenty-one years ago)

Count to ten.

Deep breaths.

Count to ten.

Deep breaths.

It's Christmas, Ally.

Deep breaths.

― Allyzay, Wednesday, 24 December 2003 15:35 (twenty-one years ago)

seriously?

― Huckleberry Mann (Horace Mann), Wednesday, 24 December 2003 15:36 (twenty-one years ago)

What?

― Ajazay, Wednesday, 24 December 2003 15:37 (twenty-one years ago)

you're going into labour?

― Huckleberry Mann (Horace Mann), Wednesday, 24 December 2003 15:37 (twenty-one years ago)

I just persuaded my cc to refund £90 of erroneous charges. Now I have to persuade them to refund the overlimit charges on the charges.

― Ed (dali), Wednesday, 24 December 2003 15:37 (twenty-one years ago)

I almost peed my pants with that last post, Allyzay. Goddamn.

― Jeanne Fury (Jeanne Fury), Wednesday, 24 December 2003 15:38 (twenty-one years ago)

Oh, my mother is all over that stupid 10%-discount-if-you-join-our-cult bullcrap. And she wonders why she can never find anything in her wallet. It's because she has a fucking DECK OF CARDS in there from all those store credit cards.

― Jeanne Fury (Jeanne Fury), Wednesday, 24 December 2003 15:41 (twenty-one years ago)

I'M HAVING THE BABY JESUS, YES. RIGHT HERE, ON THIS THREAD. BUY TICKETS NOW THEY ARE GOING FAST.

― Allyzay, Wednesday, 24 December 2003 15:41 (twenty-one years ago)

I'm sorry, there's no room in this thread. We're all full from the census. Move along.

― Huckleberry Mann (Horace Mann), Wednesday, 24 December 2003 15:44 (twenty-one years ago)

we got this board round the back where we keep the animals

― Ed (dali), Wednesday, 24 December 2003 15:45 (twenty-one years ago)

I'm not touching THAT thread, Ed. I have no interest in finding out which animals people around here want to fuck.

― Allyzay, Wednesday, 24 December 2003 15:51 (twenty-one years ago)

i CAN NOT sympathize with credit card debt from living larger than ones paychecks. this is the curse of most of my friends, they giggle & chuckle as they rack up charges every night.

― kephm, Wednesday, 24 December 2003 15:52 (twenty-one years ago)

Kephm OTM. Time to grow up, credit card abusers.

― Markelby (Mark C), Wednesday, 24 December 2003 16:00 (twenty-one years ago)

http://www.villagevoice.com/issues/0352/yaeger.php
shopping article in the voice; if you must shop, these are good guidelines. I am personally a big fan of #3, figuring the pro-rated price per wear, as it's saved me from a few turkeys and rationalized the $100 Seven Jeans (which I wear like twice a week since I own no other jeans).

― teeny (teeny), Wednesday, 24 December 2003 16:01 (twenty-one years ago)

"Also, if you like foreign clothes, remember that people in Europe are way, way smaller than we are, and the fact that you are wearing a size 44 does not make you a disgusting piggie."

Um.

― Markelby (Mark C), Wednesday, 24 December 2003 16:07 (twenty-one years ago)

also I recognize that I've been in a very lucky place...I was a scholarship kid so no student loan debt, never been sick, etc. I've never been forced by necessity to put a hospital visit on plastic.

― teeny (teeny), Wednesday, 24 December 2003 16:07 (twenty-one years ago)

I pay off my credit card stuff and my rent every month. I lose track of everything else, but have managed to make arrangements that things get paid even if I forget. I have all sorts of doc bill envelopes unopened all over my floor though. They don't fine me for being late so I ignore them for quite a while before paying them usually.

I was very lucky with scholarships and good jobs and a tendency to be a saver, otherwise I'd be totally fucked financially.

― JuliaA (j_bdules), Wednesday, 24 December 2003 16:28 (twenty-one years ago)

Telling people whose situations you know little about besides the glib things they post on ILX to "grow up": classic or extraordinarily hypocritical and childish? I don't think anyone around here has asked for any sympathy at all.

― Allyzay, Wednesday, 24 December 2003 16:31 (twenty-one years ago)

TARTMONSTER!

― Eisbär (llamasfur), Wednesday, 24 December 2003 21:31 (twenty-one years ago)

or should that be, DEBTMONSTER!

― Eisbär (llamasfur), Wednesday, 24 December 2003 21:31 (twenty-one years ago)

kephm and barry can go suck it, yeah, I would like to see what other options were available when I broke my car and my computer and had to get them fixed + etc. Oh and also xmas, though this holiday would have been completely affordable if not for the aforementioned ARRRGH I really hate thinking about it!

Automated bill paying is the badass of the information age.

― TOMBOT, Wednesday, 24 December 2003 21:56 (twenty-one years ago)

Automated bill paying fucking rules. It doesn't hurt as much as having to write down the amounts on checks. Though you still have to deal with the numbers sometime, argh.

― JuliaA (j_bdules), Wednesday, 24 December 2003 22:06 (twenty-one years ago)

I have no credit cards. When my car breaks or I have to go to the hospital (which I might do again this week) either I scrape up the cash or tough shit.

and I did manage to get (modest) gifts for everyone on my list. Let's hear it for Target and discount shops like Tuesday Morning.

Note I also only buy clothes at Target and work two jobs.

― Viva La Sam (thatgirl), Wednesday, 24 December 2003 22:14 (twenty-one years ago)

yeah for credit cards they mean I can eat till they sort out the paycheck fuckup. debt is a necessary evil some times. I'd rather spend the bank's money thank hit my folks up for money to tide me over.

― Ed (dali), Wednesday, 24 December 2003 22:19 (twenty-one years ago)

i am in a little debt, but not too much. i get cards that have no interest for the first six months, run up a bit of debt, and then pay them off before the interest is charged. it sorta works! i spent a lot on christmas this year. i am actually a bit happy though, as last year i spend a fair amount at christmas but not on anyone else (its more fun to buy things for others, really).
;-) it will probably take me awhile to get out of the debt, but my (new) card will not charge interest until july. now that i am done shopping it will be removed from the wallet.

― Aaron Grossman (aajjgg), Wednesday, 24 December 2003 22:22 (twenty-one years ago)

ed, eating is so overrated.

― Viva La Sam (thatgirl), Wednesday, 24 December 2003 22:27 (twenty-one years ago)

y'all don't know what debt is till you do post-grad.

― Eisbär (llamasfur), Wednesday, 24 December 2003 23:04 (twenty-one years ago)

The only debt I went into this year was $300 on my Best Buy card, a new shelf-stereo for my mom. Everyone else's presents were paid for with cash, and most of those were my photos and just cost me the price of mat board and a cheap frame kit.

The best financial decision I ever made was to cut up my debit card. If I have to spend money, it's cash or check (or if it's an emergency, credit). But that little Visa logo attached to my checking account is murder for Amazon/B&N/bukkake porn/etc..

― miloauckerman (miloauckerman), Wednesday, 24 December 2003 23:27 (twenty-one years ago)

Tom, Ally, read the fucking posts before you do your bitchfest double act. Credit card abuse - different from emergency need for credit.

And if you think a feckless and stupid disregard for credit card abuse isn't worth treating seriously, then yeah, "grow up" about covers it.

― Markelby (Mark C), Thursday, 25 December 2003 00:41 (twenty-one years ago)

I've been giving you the benefit of the doubt and assuming that this is an act you're putting on.

― TOMBOT, Thursday, 25 December 2003 02:36 (twenty-one years ago)

I'm slowly creeping away from that stance.

― TOMBOT, Thursday, 25 December 2003 02:37 (twenty-one years ago)

i can live off of about 11 dollars a week, so i have no sympathy for the chums of mine!! who go all cute~idiot & charge stuff*junk they do not need* (often while drunk). it is fake, boring & trite (the american way)

― kephm, Friday, 26 December 2003 16:48 (twenty-one years ago)

I can't have a credit card.

― RJG (RJG), Friday, 26 December 2003 17:43 (twenty-one years ago)

i have absurd debt. it's stupid. a big chunk of it is left over from getting married this year and not receiving as much money from people as we'd thought ("oh invite him, he gives everyone $2000!" "Oh shit, he gave US a lasagna pan!") so we couldn't pay off the balance, and the rest is, uh, fuck if I know. I have no clue. Luckily my credit is good so I continually get 0% balance transfer offers, transfer everything every six months, and never accrue interest, and pay like half my check every two weeks to the balance, so hopefully I'll have everything paid off by October. No fucking christmas presents for anyone next year though, we spend and spend every year and this year we received jack in return. NOt to be all grinch and greedy, but, you know, no need for us to go into debt ourselves for other thoughtless asses.

― anthony kyle monday (akmonday), Friday, 26 December 2003 21:41 (twenty-one years ago)

Mark, write a coherent, explicatory post before you get all fucking worked up on other people. I hardly see how it's anyone else's fault that we didn't psychically understand that "GROW UP" doesn't include, like, your friends.

Ed OTM.

― Allyzay, Saturday, 27 December 2003 00:49 (twenty-one years ago)

They corrected my pay slip on xmas eve, I have been paid, wahoo.

― Ed (dali), Saturday, 27 December 2003 01:22 (twenty-one years ago)

d'oh, this was a good reminder for me, I have really racked up one credit card. It was emergency funds when this started, then it became.. ... bright colored clothes, and alcohol, but mostly clothes.

Maybe I should do a balance transfer on the one, I hadn't thought of that.

― daria g (daria g), Sunday, 28 December 2003 04:19 (twenty-one years ago)

but remember kids, applying for credit lowers yr credit rating. passing debt from card to card will eventually catch up with you.

― ron (ron), Sunday, 28 December 2003 05:35 (twenty-one years ago)

but not having a few credit cards will mean that you have no credit rating! You can't get a mortgage without demonstrating that you've had three lines of credit and been responsible with them.

― teeny (teeny), Sunday, 28 December 2003 16:30 (twenty-one years ago)

Point taken, Ally. Sorry about that.

― Markelby (Mark C), Monday, 29 December 2003 13:31 (twenty-one years ago)

Debt: about $70,000. Which includes my wifes Grad school loans.

― Chris 'Knuckle Deep' V. (Chris V), Monday, 29 December 2003 13:34 (twenty-one years ago)

two years pass...

so nice i have to post it twice:

y'all don't know what debt is till you do post-grad.
-- Eisbär (llamasfu...), December 24th, 2003.

― Eisbär (llamasfur), Wednesday, 25 January 2006 00:49 (nineteen years ago)

I paid off my credit card debt yesterday, though I'll have a couple hundred on my card in a day or two. Hate me now.

― Michael Daddino (epicharmus), Wednesday, 25 January 2006 01:07 (nineteen years ago)

When you move around the country often , you get alot of credti card debt. Then you spend lean years paying them off and you eat only rice.

― Latham Green (mike), Wednesday, 25 January 2006 05:28 (nineteen years ago)

too much rice = not so lean any more!

― Eisbär (llamasfur), Wednesday, 25 January 2006 05:33 (nineteen years ago)

the people I bought my wife's gift for forgot to charge me (I didn't notice) so they charged me today (which sucks because I'd hoped I'd already paid it off).

― kyle (akmonday), Wednesday, 25 January 2006 06:32 (nineteen years ago)

I made a profit on Christmas!
I'm even more in the black than usual!

(I may have no life compared to the rest of you!)

― mei (mei), Wednesday, 25 January 2006 16:02 (nineteen years ago)

Rice maekth the fatt? heavens!

― Latham Green (mike), Thursday, 26 January 2006 04:49 (nineteen years ago)

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