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Cash Only Living – Debt Free Lifestyle
Is it necessary to use credit at all? Have we gone from a “Charge It!” society to a “Credit Card Phobic” society? Did writers and media help create a “credit card phobia” in the frugal community? I think so! If you use or have used credit cards in the past keep reading…
I am writing this commentary because a fellow frugal friend confronted me about my use of the credit card as a tool. He said I should pay cash for everything on the spot and never carry plastic. He also made a general statement that I wasn’t a “serious” advocate of true debt-free lifestyle. Really? Because I use a credit card to keep track of my money?** HA! Lucky this guy is a close friend. Those are fightin’ words!
As you know from reading my other posts I am not big on using credit for much anything. However, I would be lying if I said that I didn’t use credit as a tool. I do. I buy items using my credit card and pay off the charges in a lump-sum each month. This is all about convenience. I have been doing this for many years. In a nutshell, I advocate using a card if you have the cash and pay off your charges without incurring ANY charges. It saves time and money for me to do this because I avoid bank/ATM visits and save gas.
Lately, I have noticed an increase in folks in the frugal community swearing off credit all-together. Some folks dug themselves so deep they have swayed hard toward a debt-free, credit-free lifestyle. For the most part I want to jump up and down! I want to scream at the top of my lungs that someone is finally listening after all these years.
Living a frugal, debt-free lifestyle is not about being a martyr or about how “hardcore” you are. Just remember: once you have it figured out do what works for you.
**I advocate that new debt destroyers implement a “cash-only” policy until they really get a handle on their money. Then if they choose to use ONE card to handle their expenses and pay it off every billing cycle: Go For It!
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