Wednesday, May 9, 2007

Got It Under Control?

Most Americans simply don't. Your average, everyday red, white and blue American citizen has over $9,000.00 of ongoing credit card debt.

We've probably all heard about the idea of a "cashless society". No need for bills. Charge it to a card. Swipe it or just wave it in front of a contactless smart card reader. Ease. Convenience. Speed.

But is the United States of America - the absolute worst moneysavers on the face of the planet -ready and willing to reverse the tables and move to a "cash only" way of life?

Some have already made this personal choice, because they took inventory of their financial situation and recognized an interesting weakness: a lack of self-control.


Justin said...

I will admit I found using a MAC card to be very addictive (this was when MAC machines were free, no fees, before MAC could be used like a credit card in stores.)

Taking out $20 or more and spending it didn't seem like a problem as long as I didn't go over the bank balance.

When fee use for using MAC came around I forced myself to give it up. I was NOT going to pay a fee to get my money when I could go inside the bank, deal with a live teller and get the money for free.

I do thank my parents for teaching me the best way to use credit cards, use them for convenience, but pay the whole bill off when it comes due.

100% down, nothing every month, no headaches, heartaches or worries either.

tintin said...

Right say justin MAC card is very addictive.

Markus Arelius said...

I'll admit, I use credit cards quite a bit for business travel and vacations. Your parents taught you well: pay off your balance in full every single freaking time, on time, and you'll be alright. Running a balance is like becoming an addict.