It Can Be Done....

[Medic981]

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@Rebuild2019 wrote:
Thank you. It’s because of this great community that I am learning. I wish this had been a class I could have taken in high school. Better late than never to learn. 😁

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I agree! Personal Finance should be a mandatory subject in High School.  

[CGeorge]

I agree! I have always referred to what I think should be a MANDATORY course "Financial Literacy"! Yes! I still am amazed at just what graduating seniors know nothing about....!

[sarge12]

Dealing with credit is a lot like climbing a cliff face, it is a slow steady climb to reach the top and requires careful and well planned steps. You are also always one mis-step away from falling all the way back to the bottom in a very painful way. You also receive a few surprises along the way, just as I did about two hours ago. It came in the form of a text alert notifying me that my State Farm credit card had a charge that exceeded my alert settings. Seems some theif had charged his Amtrak tickets in Washington D.C. to my card for 580 dollars. This of course was a bit alarming for that card with its 14,000 dollar limit...oh well...card cancelled, new card coming. Hopefully they arrest this idiot boarding the train. State Farm Bank even wanted to know did I need the replacement card quickly...nah, I don't think so, they can take their time. She said the charge will post, but will be removed within 5 business days. Lesson to the community...always set alerts to send text messages for unusual charges. The quicker fraud is caught, the easier it is to deal with. If you know the card will be dormant...set alerts to notify you for any charge.

[Anonymous]

I think autopay is a great thing.  You never know what may happen that could prevent you from meeting a payment due date...accident, injury, etc.  I autopay basically everything including rent.  I know EXACTLY when all my autotomatic payments should process and I check to make sure they have all processed.  You can definitely still stay on top of monthly payments even if you use autopay.

[sarge12]

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@Anonymous wrote:

I think autopay is a great thing.  You never know what may happen that could prevent you from meeting a payment due date...accident, injury, etc.  I autopay basically everything including rent.  I know EXACTLY when all my autotomatic payments should process and I check to make sure they have all processed.  You can definitely still stay on top of monthly payments even if you use autopay.

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I do have all my cards set to autopay the minimum payment, but it never does so because I have already paid it in full before the autopay happens. The autopay setting is just a failsafe to prevent late payments if I am in a coma or something like that.

[Anonymous]

Well, on credit cards and such I do the same.  I pay it off monthly but I did set up autopay in case something were to happen to me that prevents me from meeting a payment.  With car loan, I pay extra each month after autopay and once the car is paid off, the car payment plus the "extra" will be added to my student loan payments.  Everything else is autopaid for regular amount (rent, electric, insurance, etc).  Just because you set up autopay does not mean you cannot pay extra.