Wow.Â I’ve gotten a tremendous amount of response to my post about not using a credit card.Â After reading through the comments, which I suggest that you do, I’ve noticed some reoccurring themes:
- Some view using credit cards (and paying off their monthly balances) as the responsible thing to do.
- Some people claim that they pay off their monthly balances, in full.
- Some people think that by having such an anit-credit card stance, I’m displaying a lack of self-discipline.
- Some people see credit cards as convenient tools for financial transactions.
- Some people argue that credit cards are more secure than cash or debit card
I’ve come to the realization that some people really, really enjoy using their credit cards.Â And that’s cool.Â But, the bottom line for ME is:
I don’t borrow money.Â I don’t borrow money for 2 days, 2 months, 2 years, or 2 decades.Â I’m totally and completely debt free, and I plan to stay that way.Â I choose to be different, because I have found real, solid, financial peace for the first time in my life.Â I worked for 16 years, and I purchased goods and services using various forms of debt.Â And at the end of that 16 year period, I had almost 12,000 dollars in unsecured debt, no money in the bank, no savings, and no “control” over my finances.Â (As for the credit card discipline:Â I never missed a payment, I never had a late-fee, and I always paid my minimums.Â Still, I always charged just a “little bit” more than I hold told myself that I would, promising myself that I’d pay it off at the end of the month.Â Trouble was, the end of the month came, and there was always more bill than there was money.Â And the cycle went on and on, for 16 years.)Â Now, in the (less than) 2 year period since I quit borrowing money and using credit cards, I’ve saved over TWENTY THOUSAND dollars, paid off over ELEVEN THOUSAND dollars in debt, and put 10 percent of my gross income into retirement savings.Â I have a budget, I have a plan, I have goals, and I have peace.Â Now, why in the WORLD would I go back to the “way things were”.Â I’m sorry, but you can call me “undisciplined” or “out of touch”, but the truth is, credit cards offer easy money, are easily abused, and are easily overused.Â Plus, and I believe this because I am a Christian, the Bible says, ProverbsÂ 22:7: The rich ruleth over the poor, and the borrower is servant to the lender. I choose to live free.Â Citi can be somebody else’s master 🙂
Thanks again for all of the comments!Â Debate rocks!