Credit is something I had a hold on until my divorce. After that it was lawyer bills and a third of my wage for child support and all the flights incurred getting my kids home for visits. It has been a long hard road sometimes. But my son and daughter came to live with me and my family now. So that's been pretty awesome!
Anyway back to my credit. It was non existent. I had bad credit from a loan I was dumb enough to get when I was young. I was late paying a few times, so when it was paid off I was still not really any further ahead with my credit. I leased a car for a couple years and that was a bit better. Gave me something to build on. Then that damn divorce sent me for a ride back to the bottom.
As of now I'm almost forty. I have a prepaid credit card attached to my bank account. Sometimes it's needed,you know to book a hotel or fights or something. That's the credit I walk around with. No line of credit, no loans, no actual credit card.
It's tough sometimes but I'm not a huge spender. I buy my clothes at the thrift store mostly, my jeep is fifteen years old , my Volvo is twenty next year. Had to learn how to wrench on them so I don't get sewered at the shop! We get a lot of things at the dollar store, I creep garage sales all season long. Looking for tools and things we need but can't justify the store prices. We buy like three pigs a year, cut and wrap our own meat from them. We hunt and fish, we grow a garden. I think we were eating potatoes from the cold room till February this year. That's a lot of spuds!
Where I work I make a good wage. My wife has great job. So it's kind of a downer sometimes coming to work and most of my coworkers are driving something five years old or newer. They have quads, camper trailers, boats, nice clothes , go on vacation every year. Lots of people I know my age have new houses none under three hundred grand. I live pay cheque to pay cheque. Like so many others. But my wife and kids are happy, and we have a roof over our heads.
My wife's job entails a lot off driving arround town and the old Volvo is not up to the challenge. So off we go car shopping. Then the girls will have a ride for sports and work. They hate that damn thing! But it's paid for and runs! So I'm sure we will be looking at a huge interest rate but you gotta do what you gotta do! Well save some cash because I've become quit the shade tree mechanic. You tube and forums help me fix anything and every thing witch is pretty rewarding in and of itself.
So I guess this was less about credit and more of a message that you don't always need that new car or tool or purse. That you can be happy with what you've got. Learn how to find the deals! With all that's going on in the world and the global economy teetering on the edge I feel okay knowing that we won't lose anything if/when the interest rates go up. Sadly I don't think many of the people I know could take an even two percent hit on their interest. So I guess I will keep on keeping on. You guys take care out there and don't get too deep!
Stay frugal my friends.