Sinking

If you have been reading my site for long you know that our family is in a world of hurt financially.

One of the many reasons, but not the only reason, is that we have a ton of credit cards.

Many people refer to credit cards as the necessary evil. That is so true. You must have credit cards for so many reasons. You need credit cards to rent movies, make online purchases, reserve a hotel, and many everyday activities. I don’t even carry cash with me anymore, but I usually use my debit card and not a credit card for everyday needs.

The problem for us, is business. We have many cards in our name but they are used for business needs. When cash flow is bad we end up taking cash advances to get us through the bind. Our problem is borrowing from Peter to pay Paul. It is a fact of life.

Our life has not always been like this. In the past we have had control over our credit and if business had not gone south we would not be in this position now. We are not irresponsible people. We have plans in place for the unexpected. We NEVER expected business to stay so bad for so long. We never could have planned for this situation.

We also have the problem that we have done several balance transfers with all intentions of closing those accounts when the new interest free credit cards were opened. Then we decided to keep those "just in case" Well just in case has lasted for a year now.