Ok For Them.... But Not For Me?!?!?!

Anonymous · ‎03-20-2016

Morning MFF =-)....

I'm a fairly young, 27 year old woman. For the longest, many people in my family =, have discouraged not only me, but other younger people in my family from getting credit. Generally speaking, whether as a result of ignorance or simply trying to confuse people, they spread misinformation about credit. Now, it would make sense, given the misinformation and stance against getting and using credit, you'd think they themselves don't use credit. Right? NOPE. They have credit cards, auto loans, mortgages, personal lines of credit, etc..

Last week, I showed my aunt one of my new cards (showing the design), she started ranting about how I need to "rip it up". I looked at my mother and said, "it's amazing how the people that have and use credit on a regular basis don't want others to have it."

In my family, sad to say, because of general credit ignorance, there are people who are 30, 40, 50 plus who don't know how to, let alone use credit. They always have to go crawling back to the same people who use credit and preach against it, to borrow money, or help them get a car or rent an apartment (since they don't have credit). God forbid they want to purchase a home one day.

Sorry for ranting.... Just thinking about things and getting a little heated.... Need to meditate.....

Anonymous · ‎03-20-2016

@Anonymous wrote:
Morning MFF =-)....

I'm a fairly young, 27 year old woman. For the longest, many people in my family =, have discouraged not only me, but other younger people in my family from getting credit. Generally speaking, whether as a result of ignorance or simply trying to confuse people, they spread misinformation about credit. Now, it would make sense, given the misinformation and stance against getting and using credit, you'd think they themselves don't use credit. Right? NOPE. They have credit cards, auto loans, mortgages, personal lines of credit, etc..

Last week, I showed my aunt one of my new cards (showing the design), she started ranting about how I need to "rip it up". I looked at my mother and said, "it's amazing how the people that have and use credit on a regular basis don't want others to have it."

In my family, sad to say, because of general credit ignorance, there are people who are 30, 40, 50 plus who don't know how to, let alone use credit. They always have to go crawling back to the same people who use credit and preach against it, to borrow money, or help them get a car or rent an apartment (since they don't have credit). God forbid they want to purchase a home one day.

Sorry for ranting.... Just thinking about things and getting a little heated.... Need to meditate.....

I kind of understand where you are coming from. My parents have always preached to me about not using credit, but it is only because they are terribly misinformed about credit and have filed bankruptcy three times. But they continue to amass lines of credit themselves.

Anonymous · ‎03-20-2016

@Anonymous wrote:
@Anonymous wrote:
Morning MFF =-)....

I'm a fairly young, 27 year old woman. For the longest, many people in my family =, have discouraged not only me, but other younger people in my family from getting credit. Generally speaking, whether as a result of ignorance or simply trying to confuse people, they spread misinformation about credit. Now, it would make sense, given the misinformation and stance against getting and using credit, you'd think they themselves don't use credit. Right? NOPE. They have credit cards, auto loans, mortgages, personal lines of credit, etc..

Last week, I showed my aunt one of my new cards (showing the design), she started ranting about how I need to "rip it up". I looked at my mother and said, "it's amazing how the people that have and use credit on a regular basis don't want others to have it."

In my family, sad to say, because of general credit ignorance, there are people who are 30, 40, 50 plus who don't know how to, let alone use credit. They always have to go crawling back to the same people who use credit and preach against it, to borrow money, or help them get a car or rent an apartment (since they don't have credit). God forbid they want to purchase a home one day.

Sorry for ranting.... Just thinking about things and getting a little heated.... Need to meditate.....
I kind of understand where you are coming from. My parents have always preached to me about not using credit, but it is only because they are terribly misinformed about credit and have filed bankruptcy three times. But they continue to amass lines of credit themselves.

My very first thought in response to the OP was generally there are (2) sets of people who give such advice in that manner: They either A), have bad/poor credit as a result of making bad decisions, or B) They are bat**bleep** crazy Dave Ramsey followers. I have very little patience to none with folks in A or B.

OP, break the family tradition and be the one who learns and produces where leveraging good credit can enrich ones life.

Anonymous · ‎03-20-2016

Glad to see I'm not the only one experiencing this... Totally breaking free.

Anonymous · ‎03-20-2016

No one on either side of my family is that lucky with credit or money. I'm breaking out of that pattern finally at a ripe 41 years old. Hard to do when you're the lone voice of reason when it comes to these matters. Everyone else figures if they have money they'll spend it. Some members of the family have declared bankruptcy twice or more, I've done it once for medical bills long before I ever had credit cards.

Now I'm dealing with utilization, and paying off 4 cards, which will be down to two when the two synchrony cards are PIF. And I'm also reestablishing savings AND an emergency fund, and have a 401k for the first time, since I've always worked at jobs that never had that option.

Anonymous · ‎03-20-2016

Def hard to do when the lone voice. Glad that you're getting it together now =-).

-NewGuy- · ‎03-21-2016

Honestly, credit and finance matters should be taught as part of standard classes in school. It's far more important than some things that are taught standard .

Guide to travel cards

Anonymous · ‎03-21-2016

@-NewGuy- wrote:
Honestly, credit and finance matters should be taught as part of standard classes in school. It's far more important than some things that are taught standard .

I totally agree. But some people feel so strongly against credit that it may turn into something close to the creationism/evolution debate before the class ever got approved.

Anonymous · ‎03-21-2016

Love it or hate it, credit is a necessity. Renting an apartment, getting a job, buying car insurance... Another aspect of the OP's scenario is her relatives may be control freaks and enjoy keeping their family members dependent. I think that falls under bats*t crazy.

Revelate · ‎03-21-2016

Just avoid the topic would be my recommendation Britt, even if I know it likely is an exciting topic for you and it's only natural to want to share, it's basically trying to put lipstick on the pig.

Religion and politics are the two old bugaboo converations, politics is all the rage right now, religion is still a no fly zone, but money and to a lesser extent credit, may well be the new religion for many people. I'm the only one in my family that has really gotten the credit bug, but it's not really a big issue given neither my dad nor brother are coming to ask me for money, and they get by just fine on their 3 credit cards between the two of them, and both managed the whole home ownership thing before I did.

End of the day, you know what's right, and armed with the information on this forum you're in a much better place to be able to make decisions for your own life than anyone else is for you... and that's arguably a non-trivial part of being an adult anyway, congratulations for growing out of credit childhood .