Can you imagine going to the store to buy something and not using a credit card? Well that is how I now live my life. It is going on six years, and I DON’T BORROW MONEY!!!! Was it the hardest thing I’ve ever had to do? I’m not sure I can actually answer that. I can tell you that it was by far the smartest thing I’ve ever done. Now, thinking about my life with the use of credit cards, It just didn’t make sense. Here is what I was doing.
My paycheck would come in, I’d “pay the bills”. Little situations would arise and small purchases needed to be made; I’d go to the store to start buying. There would be nights that going out to eat seemed like a great idea, so we’d go spend fifty dollars ($50) on a meal at a local restaurant. Then,when the debit card went dry… the credit card was a viable solution. By the end of the month I’d have a balance on my credit card more than what was in my pay check.
In truth all I did while doing this was increase the amount of money that I was spending out of my paycheck every month. There came a point that even the credit card was no longer an option, and my monthly salary could not cover my expenses and the credit card debt that I’d accumulated. After lots of thinking, I decided that another credit card was not the answer.
The decision to not use credit was the best decision that I could have ever made. I can honestly say, I get more done with cash, than I did using credit. Every month I sit down to create a budget. Ensuring to leave room for the little things that come up such as school trips, or just wanting to have a good night out with my family. If it is not in the budget, It doesn’t happen.
At first was the transition difficult? Of course it was. There have been many times where, I know how much my wife really wanted an item, or the kids really wanted to go out for ice cream. But If the money was not allocated, we could not do it. The hardest part has not been living without the use of credit cards; In fact, the hardest part of this process has been, telling my household that I can’t do it now or No… Have you ever tried explaining to your little bundles that you can’t do something because the money just isn’t there? (yeah…that one broke my heart). But, if I was going to not borrow money then, a line had to be drawn. Eventually , with a little creativity, and brilliance, my wife created the reward system for the children that allowed me the time to allocate funds, and them to get the rewards they deserved.
Cash only! No thanks to the credit card offer. Many people see having cash as being a hassle. Some college campus cafeteria’s don’t take cash. So what do you do then? Can you say Debit Card! The funny thing is people look at me funny when I tell them I don’t use credit. Even in the stores, when the cashier asks me “Do you want to save 10% by opening up a credit account?” Of course I say No. But think about it, you save 10% now, to pay 25% (or higher) later. I happily say, “No thanks!” “well its only a probelm if you dont pay it off every month” is usually the next statement that follows. A debit card, is the perfect solution for the person that does not use credit cards. It gives you all the benefits and, since it is linked directly to your bank account, none of the side effects. I’ve been asked “isn’t that like using a credit card? ” For all intensive purposes I will answer no. Once you pay with your debit card, there is no bill later. If you are addicted to swiping. Then I suggest you go on a strict no card life style. But for everyone else. A debit card gives you all the benefets of a credit card and the benefets of a cash only system.
Is it difficult living life without credit cards? Once you’ve made up your mind that borrowing money is not something you want to do, then making the necessary adjustment in your life will take some getting used to. For me, the decision was not difficult, the life style change has not been over taxing on my family. Truth be told, I now have more money to go around, since I dont have to pay credit card fees. Today, we still say it is the best decision that we have ever made, and… the best part about it, after I pay for it, It is DONE! There is nothing worse than having a great time today, then having to pay double for it tomorrow. If you ask me, I’ll tell you, a life with no credit cards us the way to live.
Corey Stokes 