Snake Debt

[Annarose15]

The key is to have a payoff plan. And it sounds like you do. 2500 isn't really a lot in the CC debt would. If you have more I'd say go for a debt consolidation loan from your bank to pay off the CC and then you have a structured plan with a low fixed interest.

$2500 on it's own isn't terrible, but that goes south in a hurry if you are a homeowner. A new roof, hot water heater, air conditioning, dishwasher, oven, lawn mower, etc., raise that in a hurry when they break unexectedly. Personally, I went through all of those in the course of just the last two years and still never hit $2500 on a cc. My rule is to never let my cc debt exceed my savings account, and never exceed $1000 for anything non-emergency.

[Slim]

I spent my 20's getting into debt/credit trouble. I spent my 30's digging my way out. Now that I'm in my 40's, I don't even own a credit card, and I only buy something if I can pay cash for it up front.

I'm not advocating this course of action for everyone, but it works best for me. I know plenty of people who use credit wisely.

[Jason Bowden]

My wife ran up a bunch of credit cards when I first met her.

My question to her was: How can you spend money you don't have? I made sure she knew that I didn't think highly of it.

Credit cards should all have low limits. No more than $2,500. IMO

OP: Hopefully your investment will pay for itself and give you lots of enjoyment!
Now, where are the pics of the pick ups? LOL

[Stewart_Reptiles]

How do you guys deal with the debt woes? Any up lifting words to help me pull myself out of this funk? LOL

By not buying anything I can't afford, I either have the money or do not and nothing is placed on credit card.

So no snake debt here.

[Tzeentch]

I have 6 credit cards. One has a limit of $17,500. Why anyone would ever charge $17,000 is beyond me. My total debt between the 6 cards is about $7555. Hopefully I will have it paid off with next years tax money.

I bought my Albino Spider and Piebald on a credit card 2 months after paying it off with my tax money. Not smart at all, but I HAD to have that Spider and my gf HAD to have the Piebald.

My last purchase was also charged, but I was against this one. My gf had to have the Lesser Ghost so I told her she had to pay for it, so she pays the payments on hat one.

My next purchase will be with cash.

[Chuckels]

Whenever I buy a snake, if it's over $500 I always ask if there is a payment plan option. Not because I dont have the cash readily available, but because I own 2 houses, one is a rental property and if something breaks or fails, I have to fix it right then. I have 2 personal CC, my wife and I share one, and she has a personal one. Only one has a balance and it's no where close to is limit ($12,500) ... Like someone said earlier, how can someone charge that much.

I haven't bought a snake since my Champagne, that was well over 6 months ago. I can't say that I'm not tempted, but I have to make myself not buy every single BP I see.

Trey

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[DemmBalls]

I either pay cash or do payment plans. No snakes on credit cards here either. $2500 is pretty manageable. I would get these purchases paid off, then move forward with cash.

[ChrisS]

I've never had snake debt, but I did get a credit card while in college and put my self into debt pretty bad. Now I try to not even use my debit card because I catch myself spending blindly and being broke before my next check. I'm sure your snakes will help pay you back.

[sissysnakes]

Screw all the credit/loan crap. This is why so many people are so far in debt today. Work hard earn money, don't spend money you don't have. If that means waiting a little while to have something you want so be it. It will mean more knowing you worked hard for it.

At some point you dont have much choice... everyone needs to build up credit and loans/credit cards are a good way to do it. I cant have my mother co-signing for everything. You just have to be careful and not bite off more then you can chew. Its not easy but its doable.

I also don't buy animals on my credit card.. it is saved solely for emergencies and gas money.

[reptileexperts]

Never live beyound your means.

That being said, I use financial software to give me a break down of upcoming expenses, current charges, and current account balances (checkings, savings, etc). I find it better to use Credit cards for everything I purchase - mainly do this because my accounts yield interest on a daily basis, so it's better for the money to be in the account as long as possible, regardless of whether its being spent. As long as I keep track of whats going in and coming out it never hits an issue. $2500 is extremely manageable. If you worry with high interest, this may sound bad, but consider finding a new credit card company that offers a an introduction free balance transfer with a low %APR on the balance transfer. If you do this you can avoid standard interest rates on high %APR credit cards, without having to consider consolidation. I did this a while back after some new photography purchases, just because my other credit card company offered a surprisingly good deal, ended up being a 3% of the total transfer as a fee, and 0% APR for 18 months. I jumped on this because basically it was allowing me to hold onto interest yielding money for greater than a year, which at the time was generating 4% on it's on, thus providing 3% additional interest on money I had spent for the time being. You usually still HAVE to make minimum payments, but it's around $20-26 per $1000 on average. Everyones different though. Again, I used this tactic to boost my interest gains on money already spent, you could use this as a consolidation method for reducing your APR.

But again, like I said, I keep tabs of all my accounts and show the money as taken out as soon as I make a purchase, $150 spinner to a $800 carpet python or a $2000 PVC cage rack wall, it all gets accounted for the same.