[askldfhjkasfhd]

Can you elaborate on how you perceive the difference between the two examples here? Being financially foolish and negligent seem both to apply to your experience.

"Was I being outright financially foolish ordering $100 bottles of Chardonnay at the club? Not at all. Was I being financially negligent ordering whatever small thing came my way that I wanted?"

[itchyouch]

A single large purchase is usually planned for and budgeted. E.g. buy computer for $2k and pay it off over the next couple of months $300/mo at a time. Though IMO, $100 of chardonnay at a club is pretty frivolous.

Usually it is a death by a thousand cuts when it comes to racking up credit card debt. $20 for lunch, $50 for gas, $65 for some clothes, $100 for the electric bill. The problem is that pseudo-necessities like food, gas, entertainment don't have an end and reoccur indefinitely. It becomes really easy to fall into the trap of purchasing 2x $10 meals a day, and it easily becomes $600/mo, while the $200-300/month in groceries that were also purchased with the plan to stop eating out makes for a $800-900+/mo food bill.

[soylentcola]

Yep. This is my failing as well. I don't carry a balance because thankfully, my income is modest but I keep recurring expenses to a pretty strict minimum (no car payment, cheap rent, only like $12k in college debt that I'm paying off, etc).

Still, when I go through mental phases of not caring/not paying attention, even though I'm paying off my balance and setting aside some savings every month, occasionally I look at my statement and think "holy shit, how did I spend $1500 that month?!"

Usually those are like the months where I bought one semi-pricey thing (under $500 but still not just groceries and bills) plus a load of Amazon or Adafruit or any number of little tools, toys, hobby supplies, lattes, bar tabs, etc.

Still no problems paying my credit card off every month because I've been there and I'm not going back. Still, it's very easy to lose track if you get spoiled and complacent. Sure, it's nice being able to spend a few hundred bucks on supplies every time I want to take on a new project around the house but those things really add up and eat into money I should be saving, investing, or using to pay off that minor college loan earlier.

[joslin01]

Yep - this.

They're both financially foolish, but I did not rack up credit card debt because of lavish purchases. It was just as ^ says.

[gozur88]

I try to pay for all the small stuff in cash. Lunch, gas, movie tickets, booze... cash, cash, cash. Because my wallet notifies me when I'm spending too much. "I have to go to the ATM again? What the hell am I spending so much money on?"

[joslin01]

Outright as in "completely" or "immediately" financially foolish is like going to the club with your friends and announcing drinks are on you. My negligence (as in, I didn't stay on top of it as good as I should have) I meant as more drawn out and not so painfully obvious. It's like a hole in a boat that you keep meaning to get around to, but hey the boat's still moving just fine.

[morgante]

> Outright as in "completely" or "immediately" financially foolish is like going to the club with your friends and announcing drinks are on you.

Why is that ipso facto financially foolish?

Personally, I have a great time going out with friends and having drinks with them. I like being able to pay for their drinks. I also pay off my bill every month and have a very healthy savings account.

[johansch]

You pretty much fit the description of a financially irresponsible person, I have to say, I'm afraid. (You seem to be aware too so that's good I guess.)

[joslin01]

What did you think when I told a story how to lose at credit cards? That I was financially responsible? Did you think I thought I was financially responsible. Honestly your comment states the obvious and is just rude, so no you did not "have to say" it I'm afraid. I bear the tolls my financial foolishness cost me. Keep your judgments in your head and do not justify them with a smug veil of concern ("I'm afraid" "good, I guess")

[nitrogen]

This is a bit of an overreaction.