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Viewing profile - fourcats

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fourcats
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Joined: Tue Dec 16, 2008 8:14 pm
Last visited: Sun Aug 09, 2009 10:04 pm
Total posts: 14
[0.02% of all posts / 0.00 posts per day]
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Most active forum: General Discussion
[ 11 Posts / 78.57% of user’s posts ]
Most active topic: Credit cards
[ 11 Posts / 78.57% of user’s posts ]

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Location: Ontario
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Interests: Reading, crafts, walking, cycling
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fourcats Posts

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 Forum: News & Announcements   Topic: Hi from longtime lurker

 Post subject: Hi from longtime lurker
Posted: Sun Aug 09, 2009 10:26 am 

Replies: 0
Views: 10617


I began reading GRS some time ago, but unfortunately not before I was laid off (a week before Christmas 2008 -- ho ho ho!) My salary continuance severance pay just ended and I have just applied for my first unemployment cheques. I've rented a much smaller apartment and am wading through my belonging...

 Forum: News & Announcements   Topic: New, Newly Unemployed, and Working: Seeking Your Stories

Posted: Sun Aug 09, 2009 10:22 am 

Replies: 3
Views: 11888


Hi! Good luck on gathering stories; in this economy you should have no lack of them! Unfortunately I live in Canada, or I'd be more than happy to participate. I started reading GRS some time ago as well -- but not until I was laid off, alas. So now I am just working on keeping within my newly-drasti...

 Forum: General Discussion   Topic: Credit cards

Posted: Mon Dec 22, 2008 10:40 pm 

Replies: 23
Views: 7898


dtr wrote:
What part of Ontario do you live in? I'm from around Detroit, spent a lot of time from 18-21 in Windsor. :)


Windsor! My hometown!! I'm currently in the Niagara Region but depending on how my job search goes ... may be checking in with mom in the not-too-distant future ...


:wink:

 Forum: General Discussion   Topic: Credit cards

Posted: Mon Dec 22, 2008 7:42 pm 

Replies: 23
Views: 7898


dtr wrote:
fourcats wrote:

Thanks, I will check it out. I'm the originator of this thread and I'm Canadian, so it's definitely relevant, eh.


Fixed your post. :P


:lol:

Oooh, thanks! I'm pretty sure they revoke your birth certificate for an omission like that! :shock:

 Forum: General Discussion   Topic: Credit cards

Posted: Mon Dec 22, 2008 4:33 pm 

Replies: 23
Views: 7898


If you pay down your credit cards you will then have an emergency fund with your available balance. The worst thing you can possibly have in a deep recession is a lot of debt. Here is an article on maintaining a good credit score http://www.advisorworld.com/2008/11/25/how-can-i-maintain-a-good-cred...

 Forum: General Discussion   Topic: Credit cards

Posted: Mon Dec 22, 2008 3:08 pm 

Replies: 23
Views: 7898


EF = emergency fund A stash of money that will get you through a tough situation, for example, a layoff, a furnace going up, etc.. Not just a rainy day savings account. Ah, ok. Unfortunately, that's what I should have had ... and was planning on starting up this year. Ooops, too late ... Closest I'...

 Forum: General Discussion   Topic: Credit cards

Posted: Mon Dec 22, 2008 11:08 am 

Replies: 23
Views: 7898


Unfortunately, I had just signed a new contract for my cellphone... If you JUST signed it, you may be able to cancel within so many days of signing up. Depends on the company, and I don't think it goes past 30 days, but worth looking into. Ah. Unfortunately, I signed up a good year or so ago, so th...

 Forum: General Discussion   Topic: Credit cards

Posted: Mon Dec 22, 2008 11:07 am 

Replies: 23
Views: 7898


maat55 wrote:
Do you have an EF established? If not, you will want to build up a small one before attacking your CC debt, once your income returns. Having one really smoothes the rough edges.


What is an EF? (Which probably means I don't have one.)

 Forum: General Discussion   Topic: Credit cards

Posted: Wed Dec 17, 2008 10:12 pm 

Replies: 23
Views: 7898


Survival is more important than consumer debt. I would pay the minimums until your income becomes stable. If somethings have to go unpaid, the CC'c should be the first to wait. I would prioritize my necessities and cut my budget to the bone also until income is stable. That would include cell phone...

 Forum: General Discussion   Topic: Credit cards

Posted: Wed Dec 17, 2008 8:01 pm 

Replies: 23
Views: 7898


Personally, I wouldn't do it. First of all, you are not employed. Second of all, there's a recession. Unless you're living with your parents, you have living expenses. Blowing through your reserve without a new job isn't prudent, to me. Thirdly, if you get re-employed quickly, you can still pay it ...

 Forum: General Discussion   Topic: Credit cards

Posted: Tue Dec 16, 2008 11:01 pm 

Replies: 23
Views: 7898


You can build your rating without paying interest, just pay in full each month. Yes, I know, but ATM it's past that point. I have a hefty balance and just didn't know whether it's better to pay it off in regular but smaller increments -- which will be a little more difficult without a job -- or pay...

 Forum: General Discussion   Topic: Credit cards

Posted: Tue Dec 16, 2008 10:59 pm 

Replies: 23
Views: 7898


Nottheangel wrote:
do it. this is how I paid off all my debt, my credit rating is 820+

it won't flag your account. pay down your debt!


Thanks; I was hoping that wasn't true.

 Forum: General Discussion   Topic: Credit cards

 Post subject: Credit cards
Posted: Tue Dec 16, 2008 8:20 pm 

Replies: 23
Views: 7898


Hi, I've subscribed to the Get Rich Slowly newsletter for a few months now, but this is my first post here. Somebody told me that if you put a large lump-sum payment on your credit card it will actually cause the company to 'flag' your account and will negatively affect your credit rating. Is that r...
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