Does this make me a hypocrite?

[mjr]

Ok, as a few of you know, I recently took a new position for about 36% more money.

Well, I'm not real big on credit cards or taking out loans. In fact, I try to avoid it whenever possible. The only real debt I actually have is my mortgage. My wife has a couple of credit cards, but that's a different story.

Anyway, we have two paid for cars, and the only debt is my mortgage (aside from my wife's CC's which I try to keep paid off).

The "problem", if you will, is the company I recently went to work for is a Consumer Finance company. So every day it's debt, credit bureaus, "decisioning", and financing.

So being as I think going into debt is a bad idea, and I try to avoid it whenever possible, does that make me a hypocrite?

I figure if anything, I can work here for a couple of years (I'm doing programming in C#), improve my skills, and move on if I have to/want to.

[Rapscallion]

If you don't go into debt on a personal decision, then that's your choice. If you take the stance that nobody should have debt, then it would be hypocritical to work where the chance is offered to others. If you prefer a personal position of you avoiding debt, without applying it to others, then that means it's not hypocritical.

Some people are better able to deal with debt than others. I don't deal well with the concept and - like you - only have my mortgage as a form of debt. I have no loans, my credit card is paid off every month, and that's it. I would consider going into debt for a car or something, but that's it. After the example of my parents, I wouldn't consider debt as a viable option. I don't deny the option to others and am grateful that I've got a decent enough income to laugh at 'pre-authorised' credit card offers.

I don't think debt is a bad option for everyone, but it's a bad one for me.

Rapscallion

[mjr]

If you don't go into debt on a personal decision, then that's your choice. If you take the stance that nobody should have debt, then it would be hypocritical to work where the chance is offered to others. If you prefer a personal position of you avoiding debt, without applying it to others, then that means it's not hypocritical.

Some people are better able to deal with debt than others. I don't deal well with the concept and - like you - only have my mortgage as a form of debt. I have no loans, my credit card is paid off every month, and that's it. I would consider going into debt for a car or something, but that's it. After the example of my parents, I wouldn't consider debt as a viable option. I don't deny the option to others and am grateful that I've got a decent enough income to laugh at 'pre-authorised' credit card offers.

I don't think debt is a bad option for everyone, but it's a bad one for me.

Rapscallion

Well, I generally don't advocate going into debt. I think debt should generally be avoided. I don't think it's necessarily smart to go into debt, and again, I don't think people should.

For instance, a person could buy a car without going into debt. Here's how:

The average car payment in the U.S. is over $400/month. Well, if a person were to take that $400 per month, and put it into a basic savings account, they would have, over the course of five years (let's say that's the finance term for the car), $24,000. It's very possible to buy a car, brand new, for $24,000. Especially if you have a trade-in. And in that case, it happened with zero additional debt.

[Rapscallion]

Not everyone has the choice, and some people choose to get the good stuff now instead of waiting. I tend to the view that if someone is able to pay it back and wants to take a longer-term fiscal hit, then it's their business.

I'd be comfortable with it. If you're not, it's an issue you'd have to resolve for your own conscience.

Rapscallion

[Gerrinson]

Okay, realized my post had turned into a long thread jack, so let's not go there.

Short & sweet: I keep an open running balance on my credit card for the purpose of buoying up our credit. Last time my wife & I checked, both our credit scores were up in the 800s.

Do I 'technically' live in debt? Yes. But it is controlled debt for a specific purpose. The small amount of interest I have paid each month was the price of driving my credit score up by nearly 200 points in the space of 3 years.

And at this point, I have the liquid funds to pay off the card at any time, I'm just sticking to the original schedule I had planned which will pay it up even at the end of 4 years.

I also like having my bills charged to the credit card vs. the debit card, simply because disputing is so much easier when the liquid cash is still in my hands.

[Rapscallion]

I have to admit that the situations in the US and UK are different. I know it's harder to get credit over there and you have to build up a credit score. Over here the banks are trying to throw debt at people, so your mileage may vary.

Rapscallion

[taxguykarl]

Am I reading your OP correctly: that you don't push debt, only credit eligibility. If so, than where's the hypocrisy?

[Seshat]

Do you not believe in debt; or do you believe people should have the free will to enter into debt if fully informed and fully consenting?

If the latter - does your company provide the information necessary to make an informed choice?

Then you're not being hypocritical.

[mjr]

Do you not believe in debt; or do you believe people should have the free will to enter into debt if fully informed and fully consenting?

If the latter - does your company provide the information necessary to make an informed choice?

Then you're not being hypocritical.

Well, it's kind of hard to explain my thoughts, and how I came about them, without getting into fratching territory.

As I stated previously, the only debt I have personally is my mortgage. As a family, my wife has a Credit Card which I try to keep paid off. I cut mine up several years back, and try to avoid using debt whenever possible. Because I couldn't afford it outright, I still have a tube television (don't laugh!!). I also have two computers that will probably need to be replaced soon, as they're about 10 years old and it's starting to show.

But I'll say this: The company I work for both approves loans and lends money I believe. So they do take credit apps, I think. I work in their IT department, but still, daily, it's credit apps, loans, approvals/denials, etc. They're not really in the business of "providing an informed choice".

Though an interesting turn of events happened yesterday. A few months back, I applied for a job that would have put me at a significant amount more than I was making at my previous job (almost an 81% increase).

Well, the previous job was going to be a full telecommute job. They decided not to hire, because they wanted to build up their home office in a different state, first. Anyway, I was told yesterday that they want to start hiring in my area again. So I'm wondering if I should try to pursue that now. If the pay is what I think it's going to be, it would still be a 31% increase over the new salary at the position where I just started.

I've heard this is bad form to do. Start a job, work there for a short, short time, then resign because a better one came along. I talked to a friend (and hopefully I'll talk to another today) about it, and he told me to go ahead and try to get the higher-paying one. Especially if it would cut down my drive time.

[bhskittykatt]

I've heard this is bad form to do. Start a job, work there for a short, short time, then resign because a better one came along. I talked to a friend (and hopefully I'll talk to another today) about it, and he told me to go ahead and try to get the higher-paying one. Especially if it would cut down my drive time.

I'd go ahead and apply. More money, and it sounds like it may clear your conscience.

For what it's worth, many managers are understanding. You're looking for work, you take and offer, and then you get another offer from another job you applied to and jump ship. It's disappointing to the employer who just hired you, but it happens.

I know at the resort I just started working at, we lost one of Boss Lady's favorite prospects right out of the gate because she got a better job. Boss Lady said she didn't blame this person and would hire her back in a heartbeat if the other place didn't work out. So I suppose it depends on how much your new employer really wanted to hire you.

I'd go apply for the other job. It probably wouldn't hurt.

[BookstoreEscapee]

The average car payment in the U.S. is over $400/month. Well, if a person were to take that $400 per month, and put it into a basic savings account, they would have, over the course of five years (let's say that's the finance term for the car), $24,000. It's very possible to buy a car, brand new, for $24,000. Especially if you have a trade-in. And in that case, it happened with zero additional debt.

This only works if you have five years to plan to buy a car. My current car is a lease because I took my old car in for service and found out it was going to cost about $400 more than the car was worth. Whether a car loan or a lease, I was going to be owing someone money, and the monthly payment on a lease was more comfortable for me without having the time to really figure out the financials.

[protege]

This only works if you have five years to plan to buy a car. My current car is a lease because I took my old car in for service and found out it was going to cost about $400 more than the car was worth.

That's it. Not everyone has the time to save up enough for a newer vehicle. With my last car, I'd already sunk about two grand in repairs just to get it through its state inspection. After it failed the second time, and was going to require more money to fix...the car had to go. Some other sucker could fix that heap. At the time, I really didn't want a car payment. But, what choice did I have? It was either get a new car, or keep sinking more and more money into a heap.

With that said, there's a huge difference in taking out a loan (or debt) to get things like vehicles and homes....and buying the latest blinky shit on sale at the department store. The first two things you kinda need, while the last isn't really necessary.

[mjr]

Well, darn...

I talked to the HR lady from the other position, and she told me that they want someone with skills I don't have (extensive Java, I'm from a .NET background). She said she would keep me in mind, though, if they decided to hire some .NET developers.

So I'll keep plugging away, and maybe try to squeeze in some "side" work.