Comments on: Credit Cards are Indeed an Indulgence http://moneyning.com/credit-cards/credit-cards-are-indeed-an-indulgence/ A personal finance blog where we share insights on carefully saving money, investing, frugal living, coupons, promo codes because the little things matter in achieving financial freedom! Sun, 21 Mar 2010 22:30:24 -0700 http://wordpress.org/?v=2.9.2 hourly 1 By: Mark Wolfinger http://moneyning.com/credit-cards/credit-cards-are-indeed-an-indulgence/comment-page-1/#comment-20759 Mark Wolfinger Wed, 21 Oct 2009 18:41:16 +0000 http://moneyning.com/?p=3919#comment-20759 You wouldn't. You wouldn’t.

]]> By: MoneyNing http://moneyning.com/credit-cards/credit-cards-are-indeed-an-indulgence/comment-page-1/#comment-20756 MoneyNing Wed, 21 Oct 2009 15:19:55 +0000 http://moneyning.com/?p=3919#comment-20756 You are absolutely right, and I made the same points about convenience and value of credit cards as you did within the post. I'm just saying that credit cards cost money for the vast majority of people in the world, large or small. Nothing more. I wasn't trying to say at all whether it's good or bad. Like I always say, spending is a personal choice. I have a credit card myself and love having one. Now why would I believe that I'm irresponsible? :) You are absolutely right, and I made the same points about convenience and value of credit cards as you did within the post. I’m just saying that credit cards cost money for the vast majority of people in the world, large or small. Nothing more.

I wasn’t trying to say at all whether it’s good or bad. Like I always say, spending is a personal choice. I have a credit card myself and love having one. Now why would I believe that I’m irresponsible? :)

]]> By: Mark Wolfinger http://moneyning.com/credit-cards/credit-cards-are-indeed-an-indulgence/comment-page-1/#comment-20755 Mark Wolfinger Wed, 21 Oct 2009 14:59:49 +0000 http://moneyning.com/?p=3919#comment-20755 That's a specious argument. Being frugal means making intelligent decisions. It does not mean refusing to spend, nor does it mean going out of your way to save every possible nickel. Suppose I do spend $50 one time - something I would not have done with ore time to think about it. I would have made the same decision with cash in my pocket. What about the value of convenience? Credit cards are easy to use. That has value to me. I don't ever have to be bothered taking the time to get cash. I am never embarrassed by trying to buy something only to discover that my payment has been denied because I don't have enough cash on my person. I believe PF bloggers serve their readers well. But this is one of many instances in which I believe you have drawn a poor conclusion based on poor spending decisions of some people. This is not a one-size-fits-all situation. Best regards That’s a specious argument. Being frugal means making intelligent decisions. It does not mean refusing to spend, nor does it mean going out of your way to save every possible nickel.

Suppose I do spend $50 one time – something I would not have done with ore time to think about it. I would have made the same decision with cash in my pocket.

What about the value of convenience? Credit cards are easy to use. That has value to me. I don’t ever have to be bothered taking the time to get cash. I am never embarrassed by trying to buy something only to discover that my payment has been denied because I don’t have enough cash on my person.

I believe PF bloggers serve their readers well. But this is one of many instances in which I believe you have drawn a poor conclusion based on poor spending decisions of some people. This is not a one-size-fits-all situation.

Best regards

]]> By: MoneyNing http://moneyning.com/credit-cards/credit-cards-are-indeed-an-indulgence/comment-page-1/#comment-20745 MoneyNing Wed, 21 Oct 2009 05:28:43 +0000 http://moneyning.com/?p=3919#comment-20745 You may buy only what you want to buy, but when you only have cash, there may be times when you don't have, or forgot to bring the funds with you. Without the money with you, you won't buy and there could be times when you end up not buying after waiting a few days. If it even happens once in your life, your credit cards have just cost you money. You may buy only what you want to buy, but when you only have cash, there may be times when you don’t have, or forgot to bring the funds with you. Without the money with you, you won’t buy and there could be times when you end up not buying after waiting a few days. If it even happens once in your life, your credit cards have just cost you money.

]]> By: Mark Wolfinger http://moneyning.com/credit-cards/credit-cards-are-indeed-an-indulgence/comment-page-1/#comment-20743 Mark Wolfinger Wed, 21 Oct 2009 01:48:21 +0000 http://moneyning.com/?p=3919#comment-20743 I don't get it. Sure, the undisciplined cannot afford to own credit cards. I buy only what I want to buy - nothing on impulse. I don't have to worry about having enough cash on me. I pay the bills in full every month. How is this costing me anything? I even pay the credit card bill online and avoid using postage stamps. I don’t get it. Sure, the undisciplined cannot afford to own credit cards.

I buy only what I want to buy – nothing on impulse. I don’t have to worry about having enough cash on me. I pay the bills in full every month.

How is this costing me anything? I even pay the credit card bill online and avoid using postage stamps.

]]> By: MoneyNing http://moneyning.com/credit-cards/credit-cards-are-indeed-an-indulgence/comment-page-1/#comment-20741 MoneyNing Wed, 21 Oct 2009 00:17:08 +0000 http://moneyning.com/?p=3919#comment-20741 Actually, marci can buy a computer and pay for Internet access just fine with checks or cash, which would allow her to comment and post online. In fact, I can run an online business without credit cards if I really wanted to, so I can definitely read blogs without one. Actually, marci can buy a computer and pay for Internet access just fine with checks or cash, which would allow her to comment and post online.

In fact, I can run an online business without credit cards if I really wanted to, so I can definitely read blogs without one.

]]> By: Credit Card Chaser http://moneyning.com/credit-cards/credit-cards-are-indeed-an-indulgence/comment-page-1/#comment-20740 Credit Card Chaser Wed, 21 Oct 2009 00:03:52 +0000 http://moneyning.com/?p=3919#comment-20740 But you are also participating in something right now (reading blogs posts online and leaving comments) that likely would not be possible without the ease of paying for things online via a credit card :) But you are also participating in something right now (reading blogs posts online and leaving comments) that likely would not be possible without the ease of paying for things online via a credit card :)

]]> By: Credit Card Chaser http://moneyning.com/credit-cards/credit-cards-are-indeed-an-indulgence/comment-page-1/#comment-20739 Credit Card Chaser Wed, 21 Oct 2009 00:02:39 +0000 http://moneyning.com/?p=3919#comment-20739 "I think there’s a difference between stating the dangers of credit cards, which really serves as a remind to be a little more aware, and saying that credit cards are evil." Exactly right. It's important to not get too carried away and throw personal responsibility totally out of the window. Otherwise we might as well just say that all banks, mortgages, auto loans, etc. etc. are evil when in fact they are just tools that can be used properly or improperly. “I think there’s a difference between stating the dangers of credit cards, which really serves as a remind to be a little more aware, and saying that credit cards are evil.”

Exactly right. It’s important to not get too carried away and throw personal responsibility totally out of the window. Otherwise we might as well just say that all banks, mortgages, auto loans, etc. etc. are evil when in fact they are just tools that can be used properly or improperly.

]]> By: marci http://moneyning.com/credit-cards/credit-cards-are-indeed-an-indulgence/comment-page-1/#comment-20738 marci Tue, 20 Oct 2009 23:03:32 +0000 http://moneyning.com/?p=3919#comment-20738 Cash, check, money order, or certitied check...we got by just fine without cards 'way back then.' :) Cash, check, money order, or certitied check…we got by just fine without cards ‘way back then.’ :)

]]> By: Financial Samurai http://moneyning.com/credit-cards/credit-cards-are-indeed-an-indulgence/comment-page-1/#comment-20734 Financial Samurai Tue, 20 Oct 2009 19:48:03 +0000 http://moneyning.com/?p=3919#comment-20734 Howdie David - Thanks for your reply! What you say is spot on. What I do notice are WAVES of endorsements by the PF community, which is statistically signficant in that it unlikely suddenly 15 big bloggers out there all write about X broker trading independently for example. More often than not, it is X broker contact bloggers to pay them X amount if they can write a nice review. So you're right, when I see this wave of endorsements, I don't trust the product, and start trusting the publisher less. ... that is, unless they actually have their skin in the game and are using the product wholeheartedly. Lending Club is a big example. So many publishers highlight this company, yet they either have nothing invested, or have like $500 bucks. Come on, that's not skin in the game guys. If you really believe in the product, put in a greater % of your income/savings. The reason why I read your blog regularly David is because 1) you have original content, 2) aren't constantly flogging readers with "$50 bonus if you sign up for this", and 3) are responsive. Hence, I trust you to recommend the right things, so keep up the good work! Howdie David – Thanks for your reply! What you say is spot on. What I do notice are WAVES of endorsements by the PF community, which is statistically signficant in that it unlikely suddenly 15 big bloggers out there all write about X broker trading independently for example.

More often than not, it is X broker contact bloggers to pay them X amount if they can write a nice review. So you’re right, when I see this wave of endorsements, I don’t trust the product, and start trusting the publisher less. … that is, unless they actually have their skin in the game and are using the product wholeheartedly.

Lending Club is a big example. So many publishers highlight this company, yet they either have nothing invested, or have like $500 bucks. Come on, that’s not skin in the game guys. If you really believe in the product, put in a greater % of your income/savings.

The reason why I read your blog regularly David is because 1) you have original content, 2) aren’t constantly flogging readers with “$50 bonus if you sign up for this”, and 3) are responsive.

Hence, I trust you to recommend the right things, so keep up the good work!

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