- July 6, 2008 at 6:55 am #259486
We used to be in pretty big debt (back in the early 1990s). Well, big debt for the 1990s….
It took us 7 years to pay of our debt. We built up a small savings and we began not spending more than we were making.
Our small savings (which we worked up to 10% of our income) turned into our “rainy day” account. We used it every time a major appliance went out. Which, concidently, was every single one of them over about a 4 year period.
Then, we started writing checks and not dealing with any cash. We did this so that Quicken could help us track our spending & make those custom budget reports.
Since our checking account does not give us interest, we kept our money in the savings account and transferred every 3-5 days or so to cover our checks. (This was also back when checks weren’t instantaneously removed from our account). Then, we moved to debit cards.
We loved that!
During this time, we were still able to spend only what we could “afford” using the plastic.
After about 6 months of using a debit card and transferring every 3 days to cover it….we moved back to credit cards.
Now we use credit cards and pay them off each month.
I think we can safely use credit cards because of those 7 years of living ‘way under our means while paying off our debt. And now we are using ones that pay us back cash! Free money for us!
We would never buy anything we didn’t have the money for – ever again!
Midlife crisis is that moment when you realize
your children and your clothes are about the same age. –Bill Tammeus
Once again, I have charged my credit card up to the limit (luckily I
have a low limit on the card). I have decided that I no longer want to
have ANY credit cards. They have caused me nothing but trouble.
have been in and out (mostly in) credit card debt for 25 years. It is
exhausting and there is no way I can live the rest of my life (probably
at least 40 years) like this. I would like to just use a debit card
instead and just not have any credit cards.
Do you all have credit
I am really afraid of having problems renting a car. I go on a few
trips each year, sometimes alone, and sometimes the rental car
companies require a credit card and will not accept a debit card. Is
there a way to get around this?
What do you all do? What about pre-
paid credit cards? Do rental car companies take them?
Other than the rental car problem, is there any other reason why I must
have a credit card? can a person really get by with just a debit card
and maybe a pre-paid visa? i just want to get out of this hell.
your help will be greatly appreciated.
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