Cash or Credit

2. maj 2009

I used to keep 3 credit cards in my wallet, one personal and one for each of my two businesses.
My wife had two credit cards, and we were excellent at raking up credit at our bank.
We discussed the pros and cons of loans and credit, but were mostly just talking about it, and what to do.
BargainBabe really goes into detail on the Cash vs. Credit
In the end I did’nt get to choose, one morning I woke up and the bank had closed all our credit cards.
We did’nt have a very high balance on any of the cards, so they were paid off the first month, and now we’re free to focus on the rest of our debt :0)
Man vs. Debt talks about how much you really pay for stuff when your in debt, and that makes using your debit card-not- so-bad.
3 months after going cold turkey we actually feel good about not using credit cards and going debt free is a step closer.

What are your thoughts about this topic?


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