anybody in debt?

[absolutanne]

ehh, it's just a forum.. :shrug: there's no tracking who's really in debt and who's not. for those who are, admitting is the first step and admire your honesty People have different priorities in life. life isn't one size fits all.

 

[shmoo88]

I started reading this post, and at no time as I offended. I think some people just like to know if anyone else is in their same situation. Not to be snoopy or nosey or rude.

We all handle our obsessions differently, and we all need moral support sometimes.

While some would never go in debt over a bag, you may be lucky enough to have the cash to pay it. While some may want something and be in credit card debt for a few months or longer, but they shouldn't feel bad for wanting something.

Maybe the question should have been asked, what bag would you mortgage your hubby/SO/Pet for?

Me...no debt though. I charge everything for the miles, but link it in a program to my checkbook so I don't overspend.

 

[artemisa]

I am not in debt because of my bag/shoe purchases. I have always avoided having a credit card, and I haven't had one until last year. Because of this, I have never been in debt!
But thanks to my latest purchases I have not been able to save too much lately, I have to admit that, and I kind of feel guilty for that. However, it's my own money and I pay my mortgage religiously without any problems.

I came to this post with a lot of curiosity, since I live in Europe and I think that debts in credit cards are not as usual as in US. At least, very few people that I know do use CC or even have one.

 

[snowycoco]

I use a credit card for all my purchases but I pay the balance off every month, so it is never carried over. So no debt for me!

 

[honu]

I also charge my purchases on my CC (I love my miles!) and pay it off every month.

 

[MassLaw15]

For everyone who feels badly about admitting debt, DON'T! If you have debt, you should be open & honest about it (atleast w/ yourself) otherwise IMHO you just get more & more in debt because your not facing up to reality! That's my experience anyway! I am still paying off cc debt that I had to combine into 1 monthly payment (yes, I had to re-mortgage my house)! I started out w/ $42,000 & over the past 6 months I've been able to get it down to $35,000. I still buy things that technically I shouldn't but I have gotten A LOT better. I have to be open about it & talk to my DH about my spending & cc debt otherwise I could fall down again. Obviously some of us have more debt than others but if I had only gone into debt for education & a mortgage I'd probably be naked right now! LOL! IMO admit your debt! It makes me feel better!

 

[envyme]

Nope. No credit card debts for me.

 

[Lovey]

ladies, ladies, ladies. PLEASE don't accrue credit card debt (that you can't pay off in a month or two).

be responsible with your money!

a comfortable retirement when you're 50 is so much more important than your 3rd Chanel at 28.

i use cc's for my chanels, but always ALWAYS pay the entire amount at the end of the month.

 

[Chanel7Chanel]

I'm sure a lot of us that answered "no, I'm not in debt"
have been in debt before.
I have! But the question is "are you?" and now I'm not
I haven't been in debt in 10 years!

But most of us HAVE been in debt over something {s}

+1 !!
I totally agree with this. As being honest, I experienced myself such CC debt for my crazy Chanel handbags obsession once, I leant lesson and now I only purchase by using debit card which is cash in my bank first, or sell something I don't use first to make funds for new purchase. Now all clear and no debt since then, but I experienced purchasing a few Chanel at once and repeated it! yes I obsessed crazily once! While it was so easy to use store CC, I bought a bunch of goodies from multiple SAs over the phone or text, then made debt which i could not pay all in end of the month and took a couple of months and ended up paying interest fees that was stupid and pain! That's why I use cash now but i wouldn't use cash if i did not experience such store CC debt once. No more silly debt now though, I guess human need real life lesson once like babies

I know this thread is really really old one from 2007?! but i was just curious and searched then found it. Sorry bring this up now almost 9- 10 years later but it is interesting thread and thought some ladies might be curious as well

 

[KabiOsi]

I would never buy something i cant pay off immediately. So if i want a new bag, i would save for it. Crediit? No Buenos

 

[Marleah]

I think this is interesting.

When I was a young first time mom, working part time my husband and I did rack up some cc debt. Never again. I think it is a lesson a lot of us have learned the hard way

Now I don't go into debt, but have had hesitations, sometimes regrets spending the $ on a bag when it means I might not get to go on a vacation. Or I could have paid for my daughter's college tuition from my savings acct rather than using from
the "college fund account" that we have already set aside. For me it's all about choices- and sometimes I regret the choice I made (just being honest) but won't go in debt for luxury items.

 

[Love Paris City]

+1 !!
I totally agree with this. As being honest, I experienced myself such CC debt for my crazy Chanel handbags obsession once, I leant lesson and now I only purchase by using debit card which is cash in my bank first, or sell something I don't use first to make funds for new purchase. Now all clear and no debt since then, but I experienced purchasing a few Chanel at once and repeated it! yes I obsessed crazily once! While it was so easy to use store CC, I bought a bunch of goodies from multiple SAs over the phone or text, then made debt which i could not pay all in end of the month and took a couple of months and ended up paying interest fees that was stupid and pain! That's why I use cash now but i wouldn't use cash if i did not experience such store CC debt once. No more silly debt now though, I guess human need real life lesson once like babies

I know this thread is really really old one from 2007?! but i was just curious and searched then found it. Sorry bring this up now almost 9- 10 years later but it is interesting thread and thought some ladies might be curious as well

Thanks for bringing this old thread up! It's good to read this now because I became obsessing into Chanel more and more, and as you said the point it is really so true that department store cards like NM or Saks, Nordies, Bloomies, are all so easy to use, plus they have great points, so I tend to use store cc instead of my regular bank cards. But sometimes amounts gets big suddenly after purchase a few of Chanel because it's Chanel....you know, so I know I gotta be careful and check my accounts more often and caluculate for the payment! Thanks for sharing your experience honestly

 

[Phillyfan]

Interesting I came across this. I purchased all my Chanels on Saks MPA. So I had zero interest for a year. And the minimum payment was very low - maybe under $50! But as long as bag paid off in 12 months, you have no interest. Now Saks changed the terms. They divide amount of bag into 12 equal payments. So a $5,000 bag would cost $416 each month. I purchased my jumbo last November. But I didn't make big payments each month. Now I have 2 months to pay it off and owe just over $2000. So I am having a very hard time and working overtime and giving up so much. I learned my lesson and will not be buying anymore expensive bags unless I save ALL the money first!

 

[JulieSG]

Interesting thread! I've had my fair share of impulse buying in my younger days when I first started working more than 10 years ago, and while I never got into debt, I learnt my lesson.

I have a % of my monthly salary I can spend on "fun things" after paying for housing mortgage, car, insurance etc. I just apportion that amount accordingly to various things depending on my mood for the month - if I blow it on a bag, then I'll eat out less. For bigger ticket items, I'll ask myself if it's worth it spending the equivalent of X% of my salary, which equates to Y hours of labour at the office. That usually tells me if I really want that thing. [emoji854]

 

[carebearz]

Credit card debt, no. But I sometimes do ask my SO to help me pay first and I always pay him back. He ensures that! Lol!

Which is a good thing.. He doesn't understand my leather goods obsession and absolutely refuse to partake in any of my shopping. Hence, even I borrow money from him, he has to 'vet' through it first. He has turned me down many times, refusing to lend the money to me. He does have a keen fashion sense has an eye for everlasting products. hindsight, it's a good thing as I probably will suffer buyers' remorse if I really got those items.

Thank goodness for my SO.