Credit Cards Next On Block

[Neck]

Originally Posted by George

The only card I ever use is my check debit card. If I can't pay cash for it, I don't get it.

I use AMX when I can.

Then I have a record of what I purchased and when.

Then I pay the one bill.

I start out each month with a ledger and I deduct from the ledger just like a checking account.

So I always know how much my AMX bill be and what I needed to budget..

[Ron]

Originally Posted by Neck

I use AMX when I can.

Then I have a record of what I purchased and when.

Then I pay the one bill.

I start out each month with a ledger and I deduct from the ledger just like a checking account.

So I always know how much my AMX bill be and what I needed to budget..

That is wise!
In Canada, it ain't much better, most Canadians are in hock to thier eyeballs!

[Digging4Truth]

Originally Posted by Ron

That is wise!
In Canada, it ain't much better, most Canadians are in hock to thier eyeballs!

Reminds me of this commercial.

Funny... yet sad.

http://www.youtube.com/watch?v=hn5EP9StlVA

[Ron]

Originally Posted by Digging4Truth

Reminds me of this commercial.

Funny... yet sad.

http://www.youtube.com/watch?v=hn5EP9StlVA

So true!

Canada used to be known as a nation of savers, not anymore.

I think the demarcation line is the Second World War.
The Generation that grew up in the depression or during the war years, knew what it was like to be without.

The post war generation has known nothing but abundance, what do they need to save for?

Interesting times to say the least.

Even if our worst case scenario of a total collapse doesn't happen, it is a certainty that we have not gone through anything like this in our lifetimes.

The struggles we will go through will be the same!

JMHO

[Digging4Truth]

Originally Posted by Ron

So true!

Canada used to be known as a nation of savers, not anymore.

I think the demarcation line is the Second World War.
The Generation that grew up in the depression or during the war years, knew what it was like to be without.

The post war generation has known nothing but abundance, what do they need to save for?

Interesting times to say the least.

Even if our worst case scenario of a total collapse doesn't happen, it is a certainty that we have not gone through anything like this in our lifetimes.

The struggles we will go through will be the same!

JMHO

True... the depression certainly had some terrible times but people lived a life where they possessed the abilities and knowledge to cope with such a situation that we no longer possess.

Most of us don't have the ability to raise food or animals or live without electricity or city water if need be.

Even a recession or depression that is not as bad as the great depression could be much worse on people because their inability to live in a world where there are no groceries at the store.

When people lose their jobs they lose their house... their car... what do you do then?

There is no escape plan.

[Antipas]

Originally Posted by Digging4Truth

True... the depression certainly had some terrible times but people lived a life where they possessed the abilities and knowledge to cope with such a situation that we no longer possess.

Most of us don't have the ability to raise food or animals or live without electricity or city water if need be.

Even a recession or depression that is not as bad as the great depression could be much worse on people because their inability to live in a world where there are no groceries at the store.

When people lose their jobs they lose their house... their car... what do you do then?

There is no escape plan.

So true.

Interestingly, many city building codes require electricity and running water or the house must be vacated. Where I live you cannot legally abide in a house without running water or electricity for an extended period of time.

Thank God my wife and I have no serious credit card debt. We have one credit card that we use in the event of an emergency and we currently have a balance of around $300 on it. No biggie.

[George]

Originally Posted by Neck

I use AMX when I can.

Then I have a record of what I purchased and when.

Then I pay the one bill.

I start out each month with a ledger and I deduct from the ledger just like a checking account.

So I always know how much my AMX bill be and what I needed to budget..

I used to have AMX years ago and I did like their billing and record system but, I found some places where I frequently shopped that wouldn't accept AMX. I finally cancelled the account and strictly use my debit card. I can print out the ledgers online and it works for me.

On another subject, I moved my business accounts to a small bank. They gave me binders when I opened the accounts and the statements are mailed already three hole punched with photos of all checks and deposits. It is so much nicer than the big-time lousy service bank I left. My accountant loves it.

[StMark]

Originally Posted by George

I used to have AMX years ago and I did like their billing and record system but, I found some places where I frequently shopped that wouldn't accept AMX. I finally cancelled the account and strictly use my debit card. I can print out the ledgers online and it works for me.

On another subject, I moved my business accounts to a small bank. They gave me binders when I opened the accounts and the statements are mailed already three hole punched with photos of all checks and deposits. It is so much nicer than the big-time lousy service bank I left. My accountant loves it.

George,
It's not wise to do business with small banks. In a reccession and definitely in a depression, they are likely to go under. Many Local banks
are going bankrupt and more will do so in the days ahead.

Wells Fargo is the best bank in the USA. they are one of the few banks
that went unscathed during the depression. They are also listed as
one of the top 10 banks in the world! ( the only one in the USA that
made the list).

[Jermyn Davidson]

Originally Posted by StMark

George,
It's not wise to do business with small banks. In a reccession and definitely in a depression, they are likely to go under. Many Local banks
are going bankrupt and more will do so in the days ahead.

Wells Fargo is the best bank in the USA. they are one of the few banks
that went unscathed during the depression. They are also listed as
one of the top 10 banks in the world! ( the only one in the USA that
made the list).

St. Mark, good advice, but not applicable to our current financial crisis.

In fact, the smaller, local banks are doing fairly well. So are credit unions.

Neither of which entangled themselves with the bad loans on a wide scale in the first place.

[StMark]

Originally Posted by Jermyn Davidson

St. Mark, good advice, but not applicable to our current financial crisis.

In fact, the smaller, local banks are doing fairly well. So are credit unions.

Neither of which entangled themselves with the bad loans on a wide scale in the first place.

wrong. 22 small banks have gone under this year and more expected in "09.