Posted: 10/18/2008 at 3:23pm | IP Logged

The only debt a person should go into is for a house.  You have to either pay rent or a house payment so why pay rent when you can someday own your own home.

But I feel it is best to stay away from credit cards.  They can get you into trouble.

Posted: 11/03/2008 at 1:25pm | IP Logged

i know this was an older post, and i think jess is in school now from more recent ones i've read, but jess, you'd be surprised at the different scholarships you could apply for in your local area.  before starting my first year of college i went to a "meet the college" event, and the guest speaker spoke of a girl who went business to business...big or small and asked if there were any scholarships offered through those businesses.  to her surprise, many of them had them, they just weren't looked at because no one thought to do it.  the girl ended up getting her first 2 years, books and room, paid for through all of the scholarships.  it's definitely something to look at.

and yes, i so agree with pamela.  credit cards are bad news if you're not careful.  the best thing about a credit card is that it helps to establish your credit.  the key to using a credit card is knowing that what you put on it will be paid in full and brought to a zero balance at your next pay period.  if you don't pay it off in full immediately, it's very easy to lose track of what you have put on it. 

pamela, yes..i agree, owning a home is better in the long run...investment wise.  if you rent, sit down and add up all the rent you've put into your apartment or home, and you will see how much you've just given away with nothing to show for it.  but the benefits of renting...especially right now, almost out weigh that of owning.  for example, in my area, homeowners insurance just sky rocketed! people are being dropped left and right, and that's terrible. one of the reasons i can't afford to do much more than rent.

Posted: 11/03/2008 at 3:52pm | IP Logged

The only time that credit cards are bad is if you don't pay them off monthly. I have one that I use and pay the balance each month. There is no interest owed when I do that. I am watchful in how much I allow myself to charge on my card, being a very disciplined person.

There are some things you cannot do without a credit card. One of them is to rent cards. Most car rental companies require a credit card before renting their cars. Another thing is when there is the need to reserve a motel room. Some places won't hold the room without a credit card.

Also, in using the credit card (I only allow myself one credit card) in paying it off each month, I have built up an excellent credit record.

Ann