topic Re: Raising cash to pay down cards in General Credit Topics

Raising cash to pay down cards

Anonymous — Tue, 01 Jan 2008 16:19:03 GMT

One of the posts I read recently described needing $900 to pay down debt to correct utilization. I thought a thread of ideas on how to generate cash to pay down cards might come in handy. I will start: 1)garage sale

Re: Raising cash to pay down cards

Anonymous — Tue, 01 Jan 2008 16:22:56 GMT

Ebay is also a great way to get rid of some unwanted items in return for cash. High bidder even pays shipping! It's a win-win

Re: Raising cash to pay down cards

Anonymous — Tue, 01 Jan 2008 17:16:52 GMT

I hope this doesn't come across the wrong way, but here goes.

I heard someone (Suze maybe?) say that unless you deal with why you're in debt, throwing more money at the situation won't help. Of course, I didn't know this when I was throwing myself into one part-time job after another - think pharmacy tech at a hospital, asst mgr at a bath and body works and finally... as a waitress/bartender. I finally 'got it' when I realized I could live off of my tips pretty easily. My debit card was able to go dormant for a long time. I lived with the idea that if I didn't have the cash, I didn't get to buy it. This was tough for me in the beginning because I drive about 400 miles a week between jobs and work. So my first priority was GAS. While waitressing isn't an exact science, I could generally expect to come home with 10-15 dollars an hour on average. Going with a low number, I assumed 10 an hour at between 12 and 16 hours a week and I was in good shape. There were times when I had 300-400 in cash in my wallet and thinking WOW, that's a lot of money! But when I broke it down into two payments on a CC each month that woke me up. I worked REALLY hard for that money and yet it would just go to 'the man'.

So -- my vote? PT job. If nothing else it keeps you busy and keeps you from spending -- as long as you work in a place where you can't turn around and spend the money!

Re: Raising cash to pay down cards

wmarat — Tue, 01 Jan 2008 17:28:05 GMT

WPP wrote:

"I lived with the idea that if I didn't have the cash, I didn't get to buy it."

Thats why I do not have any debt.

Re: Raising cash to pay down cards

Anonymous — Tue, 01 Jan 2008 19:42:10 GMT

Well a part-time seasonal job would probably help.

Re: Raising cash to pay down cards

haulingthescoreup — Tue, 01 Jan 2008 19:50:35 GMT

I've gotta admit, with two jobs, working 60-70 hours a week, I have neither the time nor energy to spend money on anything at all. All my CC's have been PIF'd for months. So nice not to have cash flow scares any more!

Re: Raising cash to pay down cards

Anonymous — Tue, 01 Jan 2008 20:28:29 GMT

@Anonymous wrote:
Ebay is also a great way to get rid of some unwanted items in return for cash. High bidder even pays shipping! It's a win-win

Ebay for sure. I just sold my old laptop (for $350) and paid it towards a CC.

OP this post is a great idea for people who have not noticed how much damage they have done over the holidays.

Re: Raising cash to pay down cards

Anonymous — Tue, 01 Jan 2008 20:31:38 GMT

Thats funny. Maybe that is why I was unable to spend over my budget--I worked too much. Besides, people get crazy around the holidays, so I try to steer clear of holiday shoppers.