Foo - i'm going back to good 'ole cash

i'm within a 1,000 dollars of finally paying off credit card debt! it will feel so good to be out of the red again. i've never had debt before and last year i really ran up the bill moving to a new apartment, getting a new bike, and going on vacation. holy crap - i can't believe how hard it was to whittle it down and how easy it was to add up. all this time the bank kept increasing my spending limit too! they were really trying to suck me in. there is really no good reason why i should have a 35k limit. :rolleyes:

anyway, i saw how easy it is to get into massive trouble with a card. never again. i'm going back to having good 'ole cash in my pocket. that'll keep me in check. i'm a tightwad with cash... just the way it should be.

I tried switching to cash but it just didnt work out very well. This world is not very cash friendly anymore.

I like my visa debit card. but I'm always a tight arse so spending something i don't have is usually not a problem :p

yeah, the world doesn't seem to like cash anymore. however, that will work in my advantage for now - as i really need to save. for some reason, if i have cash in my pocket i'm pretty mindful of spending it. i'm much more prone to spending with a card. and i'm not even as bad as most people.

Good for you. I did that about 8 years ago and have been basically debt free since then. Debt free to me means a mortgage is OK. So is a car payment if it's within my budget. Credit cards, however, aren't evil. It's our lack of discpline in using them.

Now that you've gone through the struggle to pay them off, you might be better suited to use credit cards "smartly". I occasionally make a conscious decision to buy something knowing it'll take me a few months to pay it off, but never without a plan to do so. And, knowing what you've gone through (having gone through it myself), I stick to that plan. I also make use of other people's money whenever I can. For example, if I've decided I need (or even want) something, I'll wait until I can get it with a 0% interest rate for at least 6 months; preferably 12. I just bought a piece of furniture with 3 years at 0%. I pay the mimimum during the contract and the month it's due, pay it off in full. Credit card companies hate people like me!

Stick to your guns and make your plan to stay essentially debt free and you'll find you can enjoy most of the things you want without worrying about the bills down the road!

Congrats on almost paying off that debt. :) You can do it! Well, you have to figure out what works best for you. A debit card avoids the possibility of debt, but it does allow you to spend without seeing actual money pass back and forth. So for some people, that doesn't really solve the problem. And you may find that certain size bills cause you to be more thrifty than others. And likewise, certain amounts in your wallet. Personally, how much is in my wallet doesn't affect my spending habits. But I hesitate when I have to break a $20. My $1, $5, and $10 bills are "pocket change" that get spent a lot more readily (relatively speaking).

I spend with pretty good discipline, and thus I use my credit card in place of cash (and pay in full each month) whenever I can in order to earn my 1% cash back. But it's not worth it if it affects how you spend.

But I hesitate when I have to break a $20. My $1, $5, and $10 bills are "pocket change" that get spent a lot more readily (relatively speaking).



oh, how true that is. a $20 makes me double think what i'm buying. in fact, if something is $15 and i have a $20 bill i would probably pass it up. however, if i had $5's or a $10 i would probably go ahead and get it. silly i know.... :)

Good for you. I did that about 8 years ago and have been basically debt free since then. Debt free to me means a mortgage is OK. So is a car payment if it's within my budget. Credit cards, however, aren't evil. It's our lack of discpline in using them.
very true. I dislike how alot of people harbor credit cards as being the devils. They're not the devils. Peoples lack of discipline in using them is what makes them be the devils

yeah, credit cards are what they are. anyone can read the interest rates and determine what they are getting into.

however, i found it very interesting that the bank immediately responded to my increase in spending by increasing my limit. i had a relatively static spending limit until last year when i really needed to use the card. then almost every statement i recieved had a notice saying "congratulations! your spending limit has been increased". it's okay for me, since i'll never let it get out totally of control - but i can see how this would get some people in big trouble.

no mortgage, no credit cards, no debts, and I wouldnt have a bank account if my business didnt require it

now is a good time to start buying silver and gold if you havent done so already, protect what you have, very few investments are keeping ahead of inflation at the moment including most people's jobs

I tried switching to cash but it just didnt work out very well. This world is not very cash friendly anymore.

I like my visa debit card. but I'm always a tight arse so spending something i don't have is usually not a problem :p
A debit card is not a credit card. When you use a debit card, it is charged against funds already on deposit, but when you use a credit card you are borrowing from the bank against future earnings. Two very different principles.

no mortgage, no credit cards, no debts, and I wouldnt have a bank account if my business didnt require it

now is a good time to start buying silver and gold if you havent done so already, protect what you have, very few investments are keeping ahead of inflation at the moment including most people's jobs
The time to have bought gold was when it was still at $300 per ounce. I wouldn't bet on gold at today's prices. Plus gold, like oil and many other commodities, is extracted from the earth at a very high environmental and human cost.

no mortgage, no credit cards, no debts, and I wouldnt have a bank account if my business didnt require it
We're on the same boat...:D

A debit card is not a credit card. When you use a debit card, it is charged against funds already on deposit, but when you use a credit card you are borrowing from the bank against future earnings. Two very different principles.
True. But for many people, there's the same disconnect where handing over a piece of plastic doesn't register as spending money. For those people, either is problematic.

The time to have bought gold was when it was still at $300 per ounce. I wouldn't bet on gold at today's prices. Plus gold, like oil and many other commodities, is extracted from the earth at a very high environmental and human cost.

Well with real inflation running at like 9-10%, M3 inflation showing this btw which is now conveniently no longer published(imagine that), and unemployment about double published values Im guessing we are gonna see some economic ugliness soon, if holding some precious metals is enough to at least break even its worth it in my humble and probably worthless opinion !! Being long on energy and short on the dollar is probably wise too at the moment.

Nothing wrong with debit cards or credit cards really, just keep in mind data mining being what it is these days, the less people know about you the better, especially uncle sam. Identity theft can be done in about 2 hours right now in some cities, yes its that easy. The govt has just very recently decided to maybe close the birth certificate loop hole, but at the moment it is still open, same with SS#'s and court cases. Protect yourself, its safe advice.

Yeah, hiding M3's kinda sinister. Coincides with some shady dealings. Anyway, all cash for me as well. :)

If i can't pay cash, i can't afford it.

Buy Buy Buy!!!!

Buy Buy Buy!!!!

hey, sounds like you got a new job at MBNA. :p

There's nothing wrong with credit cards as others have said. As long as you have the discipline to pay it off, using credit cards is smart. You write one check or do one electronic transaction to pay for things instead of multiple. Plus there are benefits of using te right credit cards - free air fare, free hotels, free merchindise, etc. Many card programs also offer cash back. I use Costco American Express and I get 1.5% back on everything I charge.

A debit card is not a credit card. When you use a debit card, it is charged against funds already on deposit, but when you use a credit card you are borrowing from the bank against future earnings. Two very different principles.

I know this but the spending idea, as jschen said and as I've seen 2 of my brothers do is exactly the same. The only real difference is going 500 dollars into debt and overextending your bank account by 300 dollars plus 100 dollars in latefees as stuff bounces until next payday.

True. But for many people, there's the same disconnect where handing over a piece of plastic doesn't register as spending money. For those people, either is problematic.

My father always said, "pay your bills before you eat". That is the way I have lived to. If I can't pay for it in cash, or know I can pay the credit card bill off in full when it comes in, I just don't buy it. Without having to pay interest on credit cards, my husband & I have managed to save quite a bit. Be certainly don't deny ourselves but we don't just go out and buy whatever and whenever. If you think of all the money you won't be spending on interest it really adds up to quite a bit. I see to many people every day in my job that can't even pay $30.00 a month to keep their goods in storage--it's sad. People these days just don't know how to manage money and it's very simple. Just don't spend more then you earn, how hard is that?

0% APR cards for 12 months baby.
:p

I actually don't have a credit history. I buy used cars, always carry cash, and have checks only to pay bills. Wouldn't be easy to get a house if I ever wanted to, but I never have had any debt, and I think thats the best way to go.

I actually don't have a credit history. I buy used cars, always carry cash, and have checks only to pay bills. Wouldn't be easy to get a house if I ever wanted to, but I never have had any debt, and I think thats the best way to go.

don't you build at least a little history by having bills to pay in the first place?

don't you build at least a little history by having bills to pay in the first place?
Nope.
You don't

You build credit by having an open credit account. You build great credit by carrying a balance over month to month and never missing a late payment. This proves that you are capable of making regular payments.

Anybody that decides not to get a credit card imho - is pretty ****ing stupid - to put it politely.

The reason I say this is because I opened up a credit card account 2 years ago. I closed it out a few months later without ever using it because the bank refusd to stop harrassing me till i bought all of their credit defense ****. I was entered into the credit bureau system at that time despite having been paying bills for 7+ years and having had checking accounts for almost 9+ years.

Naturally, when I went to purchase a brand new vehicle despite that I was willing to put a 1/4-1/5 deposit money down amd make payments of 500-700 a month with no bad credit I was turned down while people with 10 yeras of bad credit, who couldnt put jack down and could barely afford to pay 200-300 a month were approved.


In today's world I believe that every adult should have at least one credit card, whether you use it or not. A Secured credit card is a great way of setting this up as your credit is what you have in your bank and have set aside for it. But you should really be building up credit of some sort - because you never know when you need it.

hey, sounds like you got a new job at MBNA. :p

I think it's about time to get a new saddle for that new bike of yours. Since you have good wheels already, consider a pair of GP4000's.

Nope.
You don't

You build credit by having an open credit account. You build great credit by carrying a balance over month to month and never missing a late payment. This proves that you are capable of making regular payments.

Anybody that decides not to get a credit card imho - is pretty ****ing stupid - to put it politely.

The reason I say this is because I opened up a credit card account 2 years ago. I closed it out a few months later without ever using it because the bank refusd to stop harrassing me till i bought all of their credit defense ****. I was entered into the credit bureau system at that time despite having been paying bills for 7+ years and having had checking accounts for almost 9+ years.

Naturally, when I went to purchase a brand new vehicle despite that I was willing to put a 1/4-1/5 deposit money down amd make payments of 500-700 a month with no bad credit I was turned down while people with 10 yeras of bad credit, who couldnt put jack down and could barely afford to pay 200-300 a month were approved.


In today's world I believe that every adult should have at least one credit card, whether you use it or not. A Secured credit card is a great way of setting this up as your credit is what you have in your bank and have set aside for it. But you should really be building up credit of some sort - because you never know when you need it.
Heh .....I am one of the "stupid" ones. I have not needed one in 22 years.
I would like to see my spending /travelling record......lol
I don't even use my own name on my Albertsons/Safeway card.. :rolleyes:

don't you build at least a little history by having bills to pay in the first place?

Yes. If you have an revolving account of some type, you'll have a credit history. Though, I usually don't see my utility bills reflected on my credit report... I guess with them, no news is good news.

Having a credit history is also almost a requirement these days. Life insurance premiums use your credit history as a factor. Some employers also use it as a determination; especially if you need a security clearance.

Having NO credit history, unfortunately, isn't necessarily a good thing these days.


The govt has just very recently decided to maybe close the birth certificate loop hole, but at the moment it is still open, same with SS#'s and court cases.

What's the "birth certificate" loophole?

Yeah, the more credit & "outstretched" one is, the more "man" one is . It's a BIG friggin joke.
I am not ME, i am MY credit........lol

Anyone that would pay "bills" before eating is SHEER crazy!

yeah, the world doesn't seem to like cash anymore. however, that will work in my advantage for now - as i really need to save. for some reason, if i have cash in my pocket i'm pretty mindful of spending it. i'm much more prone to spending with a card. and i'm not even as bad as most people.
Wrong!
If you take cash into say, a bike shop you can "haggle" more easily with cash.
like they say "Money talks bullsh*t walks"... :)

yeah, credit cards are what they are. anyone can read the interest rates and determine what they are getting into.

however, i found it very interesting that the bank immediately responded to my increase in spending by increasing my limit. i had a relatively static spending limit until last year when i really needed to use the card. then almost every statement i recieved had a notice saying "congratulations! your spending limit has been increased". it's okay for me, since i'll never let it get out totally of control - but i can see how this would get some people in big trouble.

When the bank tries to increase my limit I call them up and tell them to lower it. I've even told them to lower it to the amount I currently owe. When I pay off the card, I cancel the account. I have just one credit card and one debit card. The credit card is zero interest. When the zero interest goes away, I simply drop that card and get another one with zero interest. As long as the credit companies want to play this game, I'll play, too. Haven't paid interest on a credit card in three years and I tell the credit company that when they ask why I'm dropping their card. I then tell them that in a year's time they'll send me another application for a card with a year of zero interest and that I may or may not take them up on it, depending upon what other card offers I get in the mail that week. I also tell them to make sure the card has no yearly fee, or they are wasting their time. They get nothing from me but an address to send worthless paper.

Well with real inflation running at like 9-10%, M3 inflation showing this btw which is now conveniently no longer published(imagine that), and unemployment about double published values Im guessing we are gonna see some economic ugliness soon, if holding some precious metals is enough to at least break even its worth it in my humble and probably worthless opinion !! Being long on energy and short on the dollar is probably wise too at the moment.

Nothing wrong with debit cards or credit cards really, just keep in mind data mining being what it is these days, the less people know about you the better, especially uncle sam. Identity theft can be done in about 2 hours right now in some cities, yes its that easy. The govt has just very recently decided to maybe close the birth certificate loop hole, but at the moment it is still open, same with SS#'s and court cases. Protect yourself, its safe advice.


Paranoia, the Destroyer!

When the bank tries to increase my limit I call them up and tell them to lower it. I've even told them to lower it to the amount I currently owe. When I pay off the card, I cancel the account. I have just one credit card and one debit card. The credit card is zero interest. When the zero interest goes away, I simply drop that card and get another one with zero interest. As long as the credit companies want to play this game, I'll play, too. Haven't paid interest on a credit card in three years and I tell the credit company that when they ask why I'm dropping their card. I then tell them that in a year's time they'll send me another application for a card with a year of zero interest and that I may or may not take them up on it, depending upon what other card offers I get in the mail that week. I also tell them to make sure the card has no yearly fee, or they are wasting their time. They get nothing from me but an address to send worthless paper.

I've done a little of that, too. But believe it or not, playing by their rules will also hurt your credit score. Each time you apply for one of those cards, it's a little dink against your credit score. Weird, huh?

I've done a little of that, too. But believe it or not, playing by their rules will also hurt your credit score. Each time you apply for one of those cards, it's a little dink against your credit score. Weird, huh?
Ever been denied a card because of it? Probably not, so it doesn't seem to stop them from continuing to issue new cards. Missing payments is a much bigger no no.

Yes. If you have an revolving account of some type, you'll have a credit history. Though, I usually don't see my utility bills reflected on my credit report... I guess with them, no news is good news.

Having a credit history is also almost a requirement these days. Life insurance premiums use your credit history as a factor. Some employers also use it as a determination; especially if you need a security clearance.

Having NO credit history, unfortunately, isn't necessarily a good thing these days.



What's the "birth certificate" loophole?
I've had at least one revolving account since i was 15 or 16. However I appeared on the CB only after applying for an actual credit card.

What's the "birth certificate" loophole?
perhaps how easily it is to forge a BC and subsequently get a CC?]


Diud you know that there are tons of people who are using dead peoples SS to get into America?
They busted 13 - 14 people in one of my ex home towns for that. ?

birth certificates and death certificates are public domain in the US, in other words, you can get a copy of anybody's, cost $16.50 each here locally

court cases, even traffic cases often have people's SS#'s in them or on one of the forms, they are public domain too, prettymuch any govt document is

One of my duties as a messenger is doing the prelim work on background checks on people, it isnt tough, just takes a little time, knowing where to go and look plus what questions to ask helps a bunch. It also teaches you about all the cracks in the system and how it really works. All it takes is name, approximate age, and chances are you can be found, or least your history anyway. Most of the time if someone has only had even something minor like a speeding ticket I can get their age, SS#, residence, phone number, description, deed to their house, mortgage info, all of it. Do it all the time.

Dave Ramsey would be proud. (http://www.daveramsey.com/)

birth certificates and death certificates are public domain in the US, in other words, you can get a copy of anybody's, cost $16.50 each here locally

court cases, even traffic cases often have people's SS#'s in them or on one of the forms, they are public domain too, prettymuch any govt document is

One of my duties as a messenger is doing the prelim work on background checks on people, it isnt tough, just takes a little time, knowing where to go and look plus what questions to ask helps a bunch. It also teaches you about all the cracks in the system and how it really works. All it takes is name, approximate age, and chances are you can be found, or least your history anyway. Most of the time if someone has only had even something minor like a speeding ticket I can get their age, SS#, residence, phone number, description, deed to their house, mortgage info, all of it. Do it all the time.
hahha . sweeet