From the day that I was born my mother always was instilling how to save money and so on. Thanks to Capital One my mom was able to get a credit card under my name at the age of 16. It was like a credit card which helped me build credit early in life and if I didn't pay my bill my parents would have to because they were basically like co-signers for the account.
Anyhow my mom got me this love credit card, and I refused to use it because I just didn't like the idea of owing money to anyone, but she kept at me and kept at me and finally we went to Bealls and the first purchase I made was for a pair of gold stud earring ( which I still have and never wear) and it was about $60 for them. Well.............it was easy to use this lovely thing called a credit card, so I began to use it more and more. I paid my bill and all was great.............so I thought.
Moving on I am now 20, my parents are moving away to a city which I do not want to go to and I am with my boyfriend of 5? years and because of how I was raised I didn't want to live with him until I was married, yeah I was no virgin but still I wanted to at least respect my parents and marry someone who I intend to live with. That being said we had already once had a date in June this was pre-my parents moving and it was now late October and they wanted to move so I was in the hot seat of move or marry. Anyhow I didn't like the idea of moving into a apartment, I wanted to get a home that I owned because who wants to waste money........again didn't know.
Well I have had credit for 4 years and basically my credit is AMAZING I am like high crazy high numbers for a credit score so we get a nice 2 bedroom 2 bath mobile home fully furnished even, which hello for being 20 that is like amazing I am now in a fully furnished house and its MINE! Get married, both of us have good stable jobs, and bills are being paid.....
Baby number one comes, still doing great, paying bills everything is great, find out baby number 2 is coming right behind baby number one, I am 21 with baby number 2! whoooo!!!!!! Baby number 2 comes I am not working cause I was not ready, so only on husbands income which is great big money!!!! He is in the field of installing tv cables and wires for lights and such, crazy good money.
When finding out having baby number 2 we went and bought a van from POS Crystler Dodge whatever whatever its a used van and it doesn't have a warranty drive it off the lot and service engine light comes on.....AWESOME!!!! anyhow we are making payments on a pos van, so we have big payments of a van, house, and credit cards, because of course in the 4 years I have got a few cards nothing crazy like 3, with a interest on each of no more then 10% if that more like no more then 5% really because I have amazing credit! Each card has no more then 3k to spend. I think I might had one at 10k but asked to have it dropped lower so I wouldn't ever be beeped.
Well its 2004-05 and the housing market takes a major hit and boom my husband is out of a job! Which in FL unemployment is a JOKE so now we can't pay jack shiv, and guess what we are using to pay bills????lovely beeping credit cards! whoooo!!!!!
Well, I am now 32, and don't know if credit cards still offer this but back in 04-05 they would offer "deals" which were checks that you would pay off your other credit card and put it on the other credit card which would give you a lower "deal" sooooooooo we are on vacation thanks to taxes.....one thing kids are amazing for :) lol (no really I do love my kids) and I had sent a check to Chase, beeping Chase denies the check?!?!?! I don't remember what exactly it was but like they were worried about whatever and not me or some crap, anyhow from that everything went to SHIV!!!!!!
Because of the one beeping check that Chase denied, my interest went from 5% to 25% so my monthly payments of 20 bucks went to a minimum of 200! Hello!!!! my husband just lost his job and now I have to pay more to credit cards!!!! WTH! So now I start focusing on paying what is important, of course when he had lost his job I cut the cable because I had a vcr, and used the neighbors wifi :) so I was able to stream movies and such without paying a penny. Then went the credit cards because whatever I already got what I needed from them, so I was not worried about paying them off when I needed to keep a house over our head, and then went the van I was happy to see that pos leave, it was not worth the 12k they wanted for it, plus I had another kid on the way while husband had a great paying job which was baby number 3. Then number 4 came after which I tried everything to have my tubes tied but did you know that you have to sign some stupid paper which they make you wait 30 days after to finally do the procedure? I sure didn't but that is another story and why baby number 5 came and I was finally able to close shop :)
Back to I am now 32, we lost our house or should I say we grew out of it so it wasn't a lost even though it was later on foreclosed on? I honestly don't know we never got anything saying we had to leave but I didn't wanna wait for that either, because we are a big family so its not exactly easy to move.
Now sorry again 32, we are renting a house, brick house, 3 bedrooms, 2 bath, pool, and backyard, not to horribly far from everyone, and we can afford it, we bought are cars from owners and OWN them so don't have to worry about paying off anyone, we stream through netflix, hulu and amazon and whatever else which saves on stupid cable, are credit is back to average, because its been 10 years almost sense we messed everything up, and yeah its not horrible.
So, back to things I am glad I beeped up when I was younger, I am glad I went through the bs of owning a home, well making payments on it and making payments on a car and having credit cards because I am so done with it all!
I like not having payments I have no worries of a tow truck showing up and taking our life line to the world, because I own it. I like renting because I really don't enjoy living in FL although I am kinda throwing away money I am only 32 I have a long life ahead of me yet so I like the fact that if I wanted to move tomorrow I could, I wouldn't have to worry about selling my house, or paying two mortgages I am kinda free, I don't have any stupid bills, and that is nice. Also lets face it, sadly a lot of people buy a house together and then split then what you have that mess to deal with, so yeah I am again glad I learned all this now. I started young and now I see all my friends and family doing what I already did 10 years ago and its kinda sad because when they figure it out they won't have as much time as I do to make everything right.
Stop using credit cards they are a evil that suck you in and screw you over, if you wanna build credit, get a card put a bill that you must pay on it and cut the thing up! Set it so your computer pays for you and you will never have to see the card again!
Buy a car out right, yeah a new card is nice but costly and think down the line will the really hot mustang work for when you have a family? How long do you really wanna drive around in the car you got brand new? Used car is a joke don't even waste your time because it will IT WILL break down well before you ever pay it off! Buy a used car from a owner who has had it keep it tuned up and it will last as long as you want it to and it will hold its value if you respect it.
Want to buy a house? Great but think again in the future... does it have as many rooms as you might some day need, is it in a location that is built up and will stay the same? Or are prices gonna increase neighbors change often etc. Renting you have the freedom to move and get a feel before you settle.
Yup, I am glad to have beeped my life up when I was younger, although you do learn as you go :)