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Thursday, June 10, 2010

# 15 Cut up your credit cards

We stopped using credit cards about seven years ago. We had one until about five years ago, but we didn't use it so they cancelled it.

It is amazing how nice it is to not have a credit card payment, one less bill nagging in the background every month. Not only do we not pay interest on anything we buy, but we buy less too. Having a credit card just gives you the reason to buy stuff you don't really need or can't afford. If we need it, we buy it with savings. Because we are not buying stuff on a credit card, subsequently not paying that bill, we have the ability to save. We also don't have the nagging TV telling us to "buy happiness". It is amazing what you can do if get rid of the desire to have everything right now. I don't mind waiting for the things we want, and having that money there for the emergencies and thing we need.

We used to make close to six figures in this house (not rich, but better than a lot of folks), but we never had anything to show for it. We barely had savings, two car payments, credit card bills, etc. Now we purposely make less, and have a lot more to show for it. I know we are still doing better than a lot of folks in the current economy, but that is by design. We have made it so we can survive on less; frugality, self-sufficiency, and the ability / willingness to learn keep us afloat.

The way we live is has not come easy, but the choice has. All the things we do on a regular basis did not start out as habit, we have developed a routine and try to make a new addition to our lives every month. Some hold, some don't, but we are seeing what works for us.

We read a lot, we also check the blogs and DIY sites for new ideas.

Stay tunes for a reading list.