life without credit

Used all forms of credit in the past, but now we don't have any and anything we want to buy we save up and get it when it's cheaper to do so.
Our moto now is: if we don't NEED it we don't buy it.
A bit sad really but hey at least I don't have any more financial worries

Ste

[TEC]

Originally Posted by Bibio

how would your lifestyle be at the moment without credit?

No different other than not being able to do distance buying

are you one of those people who dont have credit in any form apart from your mortgage?

Yep, only use the card to pay for distance stuff or stuff I don't have the cash in my pocket for but it always gets paid up (and a bit more beyond) each month, cannot remember the last time I paid interest

Have no credit, bikes paid off in full, renting currently.

No savings, spend it all on rent, food and the rest on going out and getting hammered.

Living from month to month.

I have used credit in the past,mainly to buy vehicles[Artics and trailers don't come cheap] but never my cars or bikes or anything household. Probably had over £500,000 at one stage but always covered by other assets if things went pear shaped.
I have a credit card for convienence but always pay it off in full at the end of the month,I treat it like a charge card not a credit card,difference being I think you have better protection on a credit card.
Three cars,one bike and a house all paid for. Skint but debt free and a lot of hard graft to get here. Not a lot of money but enough to get bye and live life as I want.
Yes I am of the older generation but as long as you have a roof over your head and food on the table,plus pay your debts I see nothing wrong with credit as long as it is within your budget

Personal credit I have is a mortgage and a credit card with a 30k limit that I have never used.

I still have Business accounts with totals more than enough to build my house 10 times over as most businesses have 30 day credit accounts, but they are dormant now.

Everything else is paid off and theres cash in the bank too

[G]

I don't buy something unless I have the money for. If I don't have the money I do without. I have no overdraft or credit card either.

The only credit I have as such is my mortgage, but short of inheriting it's impossible to have a house otherwise.

I don't even like using cards, on rideouts i'm normally the one dropping money everywhere from my washing machine pouch lol

[Biker Biggles]

Apart from a mortgage I have no items bought on credit.I have a credit card for convenience but pay it off every month.I did once buy a car with a loan many years ago for business reasons but thats about it.Everything else I only buy it if I can afford to pay for it.Up front.

[Bibio]

hhhmmm, this is interesting as it seems only those that 'dont do' credit are the biggest posters.

[dirtydog]

The only thing we have on credit at the moment is the new TV which was bought on buy now pay later thing which doesn't have to be paid until February and then it's mor ethan likely i'll pay it off in one go (got a fair bit of work booked in for next month)
Have bought things on credit and loans in the past including cars, bikes, furniture, TVs etc etc and am still paying most of it off (lots of debt from a previous relationship). Would I buy something on credit again? Yeah why not? I'd rather have something now and pay extra for it with the interest on the loan then wait ages for it while we saved

Originally Posted by Bibio

hhhmmm, this is interesting as it seems only those that 'dont do' credit are the biggest posters.

Nobody is going to come onto a public forum and announce that they have 20-30k in debt though are they?

Only those with a decent credit background or at least a comfortable financial record will will be happy to openly talk about it.

There was a time a few months ago when I was working away that Jenn said to me that we were in financial s**t.
Now I had just gone out that week and bought the KTM so was a little shocked to hear about it.
I had a chat with VT one afternoon and couldnt understand what the hell had gone wrong.

It seems that money had been moved from my account into a savings account and wasnt showing on the billing account (as it was paid into the wrong place for 2 months).

I was prepaired to sell my toys etc to get back to balance but it really did bug me.

A bit of digging found it (and a bit of interest too).

I never thought about loans or credit cards though, more "how can I raise cash with what I have got".

But if I had been seriously in problems, I doubt I would have been on here telling everyone about it.