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credit cards are for americans
I dont even have one
dude - do you live in a forest or something?
I've been saving like 60% of my post tax salary and keeping it in cash for the past 6 years
Dude, the world works differently in other countries, you know that, right? When I needed to do the GMAT, my mom had to call up her S&L bank to ask for a credit card, since it is so uncommon here. Even now, I only have a debit Mastercard, there´s no overdraft there.
It is true though that a huge number of consumer markets pay with debit, in cash or other means. Paying a coffee with a credit card isn't very popular in many EU countries. In fact, most of my European friends don't even have a credit card.
Those markets build credit profiles through other ways, e.g. a mortgage, salary confirmation, digital profiles, etc without the credit card part.
$1,500 - $2,000 or so
~$15k-20k avg these last few months but it's been an unusually good year and not the norm, usually closer to $2k-3k.
$400-500
Isn’t this info useless without knowing the persons base salary and total comp
All of these conversations end up going back to comp (how much is your rent, how much on CC, how much to pay for vacation, a night out, etc), and even then, let’s be serious, this topic isn’t that useful for anyone (I understand the rent question maybe being useful for first years, but this really isn’t as you have other variables like cash vs CC spend, etc). It is mostly just shooting the sh*t. Even when people try to put things in terms to normalize for some of this (I.e. my rent is 10% or 15%, etc of gross pay) it isn’t that useful because the total comp matters (especially at the extremes).
Like I said, the rent question can be useful, but if asked in the right context (I.e. how much to spend as a first year making X with Y bonus).
Anyway, unsure why I felt the need to reply, but these questions are mostly just random thread starters that lead to debates about CC vs not and then people throwing out some big numbers and people asking them how much they make.
Ah ok I see then. I spend about $4k on my credit card every month. Only thing that doesn’t go on there is my rent and the cash withdrawals I use to fund my fetishes
I think controlling expenses and comp can be very different. Take a look at Warren Buffett’s expenses versus Floyd Mayweather. And Buffett makes much more than Mayweather.
I’m trying to keep my expenses down and spend less and need to stock up at the grocery store more and spend less on delivery and stuff. Also, when I workout really heavy some months the expenses go up just based on the large amount of calories I consume.
I probably should cut out my cable TV also as I don’t watch cable that much, mostly Netflix and Amazon.
I guess the main attempt of the thread was to summarize what expenses are worth it month to month, comp is related, but not a necessary point to bring up.
close to zero, elite I know, I am also unemployed, which is also elite, I know
true freedom is living under a bridge and eating other people's trash
jealous of u
Didn’t get the return offer?
Around 3-4k
Back when I was in NYC and making like 69k, I'd run up around 1.5k if it was a month that I went out a lot. I am very conscious of paying it off completely every month and have never carried a balance over..
I'm considering getting the AMEX gold card soon but not sure if I'll be spending enough on groceries/eating out to make it worth it. I'll reevaluate in a few months after I move and see how much I'm racking up.
Nice.
$5k - $10k ish.
This year my monthly average was around $ 0.85; I bought one burrito and a beer on credit this year.
I use debit for everything. I understand that I am not collecting points or cashback. I have simply heard too many horror stories about credit card debt.
It’s literally so simple, just use the credit card for everything you currently use the debit card for and set up monthly auto pay. Not using a credit card is passing up free $$$
Seems like a bad strategy. Do you have self control? As the other poster said just auto pay the full amount each month. Same as a debit card (except it is delayed 30 days or so) and you get benefits. The amount of “free” flights I’ve gotten through CCs are too many to count.
I'm about 2-3K a month.
But all points aside. I try to use my cc exclusively. And pay the balance off in full. Another reason I don't use a debit card is because you are potentially putting your Checking account at risk in the event the card gets compromised.
btw, the USA seriously needs to get with the times on contactless payment.
when I was in SF the bartender kept my card behind the bar. first time I experienced that. usually I just tippy tap my card when buying things.
I see what you're saying, but I've only experienced that at mom and pop sit-down restaurants or bars. 90% of of the time you either swipe or insert the card into a chip reader for about 3 seconds.
First year PE associate in NYC and typically average $2-2.5k per month. This has been fairly consistent since I started working (previously did IB).
Every single discretionary dollar I spend is on my cc. Averaging 2-3k this year but I been meaning to cut back below 1.
Earning 180 base and around 1x bonus.
HCOL city.
You're against credit cards?
No
$1.5k - $2.0k /mo
$95k base
3-4K/month, more like 5-7k in the summer months...
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