Moolah n Credit

Moolah n Credit

I raked up a huge credit card bill in December - a one time affair and not likely to be repeated till next Christmas. This triggered a Moolah crunch.

The Moolah crunch is a combination of 3 factors: My job transition; my credit card bill payment; and those "unexpected" events like a forgotten yearly insurance premium that is due.

The credit card debt was easily repaid, though easy is a relative term as I needed to make several payments. The amount payable was limited by my NETS draw limit, which was set as low as possible in year 2001. Back then, I was on a shoestring budget of $250 / mth for personal spending and entertainment, so a large draw and transfer limit was not required.

Anyway, I emptied my pockets and paid off everything. I set my mind at ease and await to tide out the drought. All is fine :)

Though apparently, the bank thought that I was in financial troubles and offered me a way to transfer my funds. So they noticed, I thought and rejected the offer.

I have always believed in living within my means, spending only what cash that I own. I had been toying with the idea of increasing my credit limit, which was based on my salary in 2005. It'll be useful, I thought. This recent gesture however, calls forth the imagry of vultures waiting beside a dying man. It humoured me; it disgusted me. So no thank you, I don't need more credit; I also don't need your safety nets.
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