I just cut up my credit card…
This may have not been too smart business wise, but I felt it was necessary. I put everything on the card and it’s not like I was going on spending sprees- it was mostly normal stuff like groceries and dinner as well as my business stuff. But now that I have made a commitment to be 100% fiscally responsible this year (unlike some entities I can think of!), I think that going to a cash based system for small purchases makes more sense. I can actually think before I spend!
I will have to plan ahead when I go somewhere and ask myself- do I really want to spend $20 on dinner? Credit cards make it too easy to spending without evaluation the purchase. I stopped manic spending a long time ago- but the smaller stuff still gets me! My rotating business expenses as well as all of my household needs are on automatic payment- so this actually is a very smart idea!
Julie
PS: It was a very, very smart idea! I can already see some huge changes in my thinking.
Here is a comment from Lyn:
Good for you!!! I cut up all but one credit card years ago, and now even that one is gone. I have stopped being a consumer. It was a very powerful decision, and I have never thought I was wrong. It has become a safety for me: when you don’t have credit, you are very aware of all spending, so spending sprees are out of the question. My ‘debit card’ is tied to my bank account so every purchase has to be thought over and evaluated, to be sure I have enough money for groceries at the end of the month. I am very proud of this accomplishment, and when I feel stupid and believe I don’t do anything right, I can challenge that with my knowledge that I at least have my money under control!
Lyn
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Good for you!!! I cut up all but one credit card years ago, and now even that one is gone. I have stopped being a consumer. It was a very powerful decision, and I have never thought I was wrong. It has become a safety for me: when you don’t have credit, you are very aware of all spending, so spending sprees are out of the question. My ‘debit card’ is tied to my bank account so every purchase has to be thought over and evaluated, to be sure I have enough money for groceries at the end of the month. I am very proud of this accomplishment, and when I feel stupid and believe I don’t do anything right, I can challenge that with my knowledge that I at least have my money under control! Lyn
Julie,
I am trying to start a petition or something to get the Government to help relief for Disabled persons like us from old Student loans. Many of us our disabled and on Social Security Disability. I have been trying to get the Dept of Education to forgive my student loan debt for 6 years. There is no help for us in this recent Ecomonic Bill that just passed. Disabled Americans, especially Disabled with Mental Illness need help too. I urge you to contact your Congressman, Senator or Julie if we can start a petition to demand relief for us too.
I recently learned that, while it’s fine to cut up or simply not use credit cards, DO NOT cancel your account! It actually looks bad to a lender and can lower your credit rating. Who would’ve thought, eh?
Sandra
I got rid of my three credit cards last year. I have set up regular payments to clear the balances, altough even by doing this, it will be another two years at least before I am clear.
I did have savings, but I spent them in a manic frenzy. I need to put my savings in awkward to get at places. I thought I had it right with shares. Then the bank crisis happened and my savings vanished. Maybe jam jars are the answer.