5 ms·

Maybe I lack self control but it was really easy to go from paying off $30k in credit card bills every month, to not having that income anymore, to being $30k+

• Bartweiss 10y ago
  This is probably a big concern for millennials in particular. The ability to "float" expenses is a nice way to smooth funds across a month, but for people without savings a sudden loss of employment can turn into instant debt.
• slavik81 10y ago
  Surely if you were spending $360,000/year on your credit card, you'd have enough home equity and other assets to refinance that debt. It really shouldn't be on the credit card for long, because CC interest rates are atrocious.
  • johnward 10y ago
    negative. I was living in my parents basement at that time (yes seriously).
    • slavik81 10y ago
      You sound quite adventurous. I don't think I'd have the stomach to try something like that.
• antisthenes 10y ago
  I'm almost afraid to ask, what does one spend $30k a month on? That just sounds like an exorbitant amount of money to me, maybe because I'm not in a developer salary bubble. You would almost have to be partying/shopping full time in order to rack up a $1000 daily bill.
  • johnward 10y ago
    It was basically advertising costs for different pay per click/impression ads. I was basically just doing arbitrage from lead generation to PPC. Though I did get a little frivolous and do some remodeling and got married and put a lot of that on CC. There's probably a vacation in there somewhere too. I used some of the money to pay off my car and put a downpayment on my house but I still have a negative worth. I didn't really plan this to spam my blog but I wrote about it on the site in my "about me".