Credit Cards and Scissors

Brent Pittman —  05/02/2010

Are you ready?

It has been almost two years *since 2009 we’ve cut up our last credit card.  Yes, you read correctly…CUT UP CREDIT CARDS.  We learned that being in debt isn’t fun.

Sure maybe if we have an emergency, then we’d need to rely on credit cards.  So we just saved up about $1K for our emergency fund and then had no excuse to rely on credit cards. You might be thinking that I’m missing out on airline miles and rebate programs.

Fact is that I’m actually spending less money, because I stopped using credit cards.  There are studies to prove this.  Dun & Bradsteet even agree that you spend 12%-18% more when you use credit cards as opposed to cash. So even though I “miss out” on my frequent flier miles, I still have more money to buy the tickets.  Plus I don’t have to worry about paying off my card each month and worrying if I have enough money in the bank.  See you on the plane.

Oh, and why don’t you think about cutting up your own credit cards before you join me?

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Brent is a financial coach and writer looking for the perfect donut. He believes personal finance should be both fun and accessible to anyone willing to learn.