Why I believe in "Cash and Carry" vs. "Borrow and Buy"

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Most people who know me have probably heard me chastise the credit card industry at one point or another – but if you haven’t known me this may be new to your vantage point.

History: For the last 6+ years I haven’t used a credit card, sure I have direct debit/ATM cards, a Money Market linked card etc. – but honestly not one CC charge. Why you may ask? Because I don’t want to give the credit card companies a single dime in interest or fees. You see, I too was a College Kid, who amassed some debt (not a TON) and I was paying exorbitantly large amounts to pay just my minimums once I graduated. Determined to be debt free, I worked very hard and paid them off in 3+ years. After which I vowed to never again be in their clutches again – this is where I still am today.

Being credit card free is easy, and once you figure out how to manage a budget properly, it becomes even more common sense – don’t buy it unless you have the money. Remember saving for things as a Kid? Well, my Wife and I do the same now, and it works splendidly – especially if you want a particular “large ticket” item, this gives you time to think long and hard about the purchase and how to pay for it. None of this “buy it now, and figure out how to pay for it later” B.S. in my home….it’s simply not logical.

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