I learned my lesson

ipreferamediumroast · #1 (**permalink**) 12-01-2009, 05:56 PM

Received my first CC in grad school in the fall of 89. 700$ limit Hit the limit within 3 months, then I had a low paying research job for awhile and got another one. At this point I was about 1800 in debt. Then I had a decent/good paying job for 5 yrs. 8000 in debt. Then I gota great paying job (lasted 2 yrs). I paid the 8k off in 9 months and except for a total of 3 times, have never carried a balance since. A friend of mine went from making 27k (1998) (5k in debt) to over 90k today (60k in CC debt). Amazing.

brian · #2 (**permalink**) 12-18-2009, 06:40 AM

Congrats on clearing your debt - always a good policy.

Wade Stoddard · #3 (**permalink**) 03-10-2010, 03:28 PM

Well, your earnings have a correlation to your debt - the higher you earn the higher you are allowed to barrow. The sad story here is that we refuse to live within our means and want to get things we don't really need. I am glad you learned your lesson relatively fast. CC are a plague on this society because we cannot control ourselves. I use mine for items I can afford and know I can repay.

Wade Stoddard

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