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CaseyGirl
Mommy to 3 Boys :)
Member since 5/05 19978 total posts
Name:
Jen - counting my blessings...
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Speaking of debt free: here's the article I read - LIFE WITHOUT PLASTIC!
Excellent Article. It was in Money Magazine but I found it on CNN:
Life Without Plastic
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Posted 6/20/08 9:52 AM  |
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Long Island Weddings
Long Island's Largest Bridal Resource |
1stimemom
Love my boys
Member since 2/08 8766 total posts
Name:
Mrs Dee
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Re: Speaking of debt free: here's the article I read - LIFE WITHOUT PLASTIC!
Excellent article, but it is easier said than done, living on LI
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| Posted 6/20/08 9:55 AM |
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NinaLemon
It's a boy!!!
Member since 10/07 6453 total posts
Name:
Jeannine
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Re: Speaking of debt free: here's the article I read - LIFE WITHOUT PLASTIC!
We never carry a balance on our card, we use one exclusively to collect points and pay it off at the end of the month.
I understand what they are saying about being a different shopper if you use cash - I budget $100 a wk for groceries, but because I use the card, if I go over by $5 I don't think about it, if I only brought $100 with me I'd be sure to stick to that budget.
It is an interesting idea, one worth considering, if though we don't carry a balance.
hmmmmm.....
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| Posted 6/20/08 10:20 AM |
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Sassyz75
Turning a new page
Member since 5/05 9731 total posts
Name:
Dina
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Re: Speaking of debt free: here's the article I read - LIFE WITHOUT PLASTIC!
I agree w/ this article
we only use the CC for reaccuring, small expenses like Poland Springs delivery, Netflix, and easy pass. Everything else we use cash (cash, cash not Debit Card)... We pay our bills electronically straight from checking as well.
When I go to the grocery store with cash I ABSOLUTELY spend less money. It's amazing.
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| Posted 6/20/08 10:30 AM |
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Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
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Re: Speaking of debt free: here's the article I read - LIFE WITHOUT PLASTIC!
Posted by NinaLemon
I understand what they are saying about being a different shopper if you use cash - I budget $100 a wk for groceries, but because I use the card, if I go over by $5 I don't think about it, if I only brought $100 with me I'd be sure to stick to that budget.
this is very true for me as well
I never use credit cards any more b/c of this
I still use Amex- but I am limiting how much I use it a month
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| Posted 6/20/08 10:33 AM |
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PegaLega
Lets Get This!!!!!
Member since 1/07 1110 total posts
Name:
Peggie
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Re: Speaking of debt free: here's the article I read - LIFE WITHOUT PLASTIC!
We dont use CCs EVER! We have one for when we get a rental car and that type of stuff where they ask for a CC but we use cash for everything.
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| Posted 6/20/08 10:41 AM |
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CaseyGirl
Mommy to 3 Boys :)
Member since 5/05 19978 total posts
Name:
Jen - counting my blessings...
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Re: Speaking of debt free: here's the article I read - LIFE WITHOUT PLASTIC!
Even before I read this I started taking out cash at the beginning of the week so that I would spend less and it does work.
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| Posted 6/20/08 10:58 AM |
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Mommy2Boys
My Boys!!!!
Member since 6/06 14437 total posts
Name:
C
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Re: Speaking of debt free: here's the article I read - LIFE WITHOUT PLASTIC!
I think I am going to start taking out cash each week and putting it in an envelope for spending money for us. We use the debit cards TOO much...especially DH and he doesnt keep track of it. he think the debit card is like a credit card 
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| Posted 6/20/08 11:03 AM |
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GoldenRod
10 years on LIF!
Member since 11/06 26792 total posts
Name:
Shawn
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Re: Speaking of debt free: here's the article I read - LIFE WITHOUT PLASTIC!
I'm the opposite of most people. I spend MUCH MORE when I have cash on me. If I have cash in my pocket, I know it's mine, and I can't be charged interest on it. I also can't keep easy track of what I bought. With a CC, even though I never carry a balance, I'm always aware of the interest that I can wind up paying if I spend too much. Plus, I have an electronic copy of every penny I spend.
I would go broke if I gave up my CC.....
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| Posted 6/20/08 2:00 PM |
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JenMarie
One day at a time
Member since 11/07 7397 total posts
Name:
Jennifer
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Re: Speaking of debt free: here's the article I read - LIFE WITHOUT PLASTIC!
Posted by CaseyGirl
Even before I read this I started taking out cash at the beginning of the week so that I would spend less and it does work.
It does work. We take out a set amount for each of us every week. It covers any lunches or dinners out, nails and pedis, and other miscellaneous things. I budget gas and groceries separately. Since I started doing this, we've been saving A LOT more!
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| Posted 6/20/08 2:43 PM |
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Sadie
LIF Infant
Member since 6/08 93 total posts
Name:
Erin
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Re: Speaking of debt free: here's the article I read - LIFE WITHOUT PLASTIC!
Posted by GoldenRod
I'm the opposite of most people. I spend MUCH MORE when I have cash on me. If I have cash in my pocket, I know it's mine, and I can't be charged interest on it. I also can't keep easy track of what I bought. With a CC, even though I never carry a balance, I'm always aware of the interest that I can wind up paying if I spend too much. Plus, I have an electronic copy of every penny I spend.
I think this is a great article for some people, and it would have applied to me 5 years ago when I was a credit card addict and in serious debt. I have since paid that off, and learned to budget my credit card use. I monitor my bank and cc statements daily, and only allow myself to spend a certain amount each week. At the end of each monthly cycle, I download my activity and determine where I can cut my expenses.
I agree mostly with GoldenRod. Now when I have a lot of cash on me I tend to spend it much quicker than if I only had my charge, particularly on small things that add up because I won't take out my cc for $5 items that I don't need, but if I have cash and want to grab a snack, drink or magazine I'm more likely to spend the cash. I keep a small amount of emergency cash (after the black-out I had nothing on me and learned my lesson), but nothing substantial.
ETA - I mostly use my cc all the time because I get cash back, so to me I feel like I'm missing out on discounts by paying cash.
Message edited 6/20/2008 3:37:02 PM.
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| Posted 6/20/08 3:36 PM |
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SweetestOfPeas
J'taime Paris!
Member since 3/06 32345 total posts
Name:
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Re: Speaking of debt free: here's the article I read - LIFE WITHOUT PLASTIC!
great article! I have been thinking of cancelling all but 1 major credit card. now I will def do it!
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| Posted 6/20/08 5:10 PM |
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mcl916
my two loves
Member since 10/06 5133 total posts
Name:
Megan
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Re: Speaking of debt free: here's the article I read - LIFE WITHOUT PLASTIC!
That's a geat article! We are no longer in cc debt, but I never want to be there again. It would be nice to be able to implement this, but I doubt DH would go for it
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| Posted 6/20/08 8:43 PM |
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Re: Speaking of debt free: here's the article I read - LIFE WITHOUT PLASTIC!
We never use credit cards. Was down that road awhile ago and I never want to be there again!
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| Posted 6/21/08 6:58 AM |
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Re: Speaking of debt free: here's the article I read - LIFE WITHOUT PLASTIC!
Because of the debt we are in we haven't used a credit card in three years. But all of our money is going payng for when we did use a credit card!
Its totally possible though. Heres the kicker - we spend money we HAVE, and if we do not have it, we do without....
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| Posted 6/21/08 7:06 AM |
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