Can You Live Without Credit? Please Answer.

zarazara

Yes you definatley can live without credit, its a matter of getting into a savings habit,even if its ony a pound or 2 a week.And its so much more satisfying when you save up for things then buy them.A sense of achievement.

SuzySu

Agree with the other posters on here. We used to have (and are still paying off 4 CCs) but for the past two years have not used them and everything is bought using cash. It has been the best thing we have ever done and would not get another CC now out of choice. The last two Christmases were the only ones where we have not still being paying it off months later.

MyLastFiver

Can I address the issue of the flash car and the "image"?

To quote a film, "The loudest man in the room is also the weakest". And this is why:

Conspicuous consumption (buying things in order to impress others) is very common, and is usually a symptom of insecure attachments in childhood, resulting in the child looking to the external world for validation, rather than relying on the inner resources of confidence that securely-attached children have.

Insecurely-attached children eventually grow up but continue to look to the external world for their sense of self. The difference now is that they have a credit card, which allows them to indulge in dysfunctional behaviours which can soothe their poor self-image: Status-seeking, fashion-conscious, image-conscious behaviour is enabled by access to credit. Such people are literally "scrabbling around" in shops and showrooms, "buying" an identity by sticking to themselves signifiers of status and success.

Unfortunately, luxury consumer items are a poor substitute for what the insecure person *really* seeks, but because they don't realise that, they continue the spending behaviour until they reach their credit limits.

The lesson?

1. Maintaining an "image" based on conspicuous consumption is dysfunctional behaviour rooted in childhood unhappiness.
2. Spending money, despite the initial "buzz", will not cure the source of any unhappiness.
3. To find the source of your unhappiness, examine your childhood relationships with others, particularly your parents. Memories are often emotional as well as visual. Try to think back to the first time you felt lonely, unloved, helpless or lost. Because it will be those same feelings, now, that make you feel you need a luxury car. What you are looking for is not a car!

If you're not convinced by any of the above, then think about this: What do you think people think of you when they see your car?

Time to stop worrying about what people think! Good luck.

sarahs999

My DH and I have been living without credit for two years now. We are paying off our debts, but have not used credit cards in that time. Our debts were wracked up whiel he was at college doing teacher training, but as soon as he started work we put them away and do everything by saving and budgeting. We have even paid for two weeks in turkey in some lovely villas by saving up and paying up front, rather than putting on credit card. I genuinely hope we will never need them again.

paybacktime2008

Yes is the answer. There are 2 choices for most of us here. Live within our means now we have had our LBM and slowly get our finances back on track, gain a realistic view on the value of money and teach it to our children and have sympathy for people who left their LBM a little too late and lost their houses, cars, marriages or sanity because of it.

There is another option of course. Keep using credit for things that really don't matter in the great scheme of things i.e Personal plates, teach our children that whatever you want you can have right now, that we are willing to risk our children's future security for the sake of appearances.

3 separate neighbours have been re possesed this year in my street. They all had the flash cars, the flatscreens, the new furnishings etc etc. There were times I felt a little envious as I saw yet another furniture shop lorry deliver more goodies. Appearances mean diddly squat, new neighbours have moved in-que total rip out of liveable bathroom/kitchen, new carpets etc etc. I am now no longer envious. I now wonder how long they will last before the !!!! hits the fan for them too.

As the TV show says........The choice is yours.

happyhaddock_2

So agree with you Paybacktime:T I think when you truly have your LBM you realise that the pressure that our society puts on you to keep up appearances is quite ridiculous. You MUST have a good credit rating, credit card, latest fashions,car whatever and when you actually stop and think about it none of these things matter really:o

We are now learning to live without credit and it's a very strange feeling to have CASH in the bank and be paying for everything out of it, but I love it:D

mikon

Can I clarify a couple of things when I talk about image I mean I like to be smartly dressed ie go to work in a suit etc.. I do not wear designer gear I wear good quality garments. My car admittly I could drive and probably will move down market in the future. I certainly do not want to keep up with the jones because I like to be an individual and I cannot afford too.

I do photography at events so need to be presentable. Before I embark on the DMP I may purchase on my CC a new camera body how will this be viewed by the CC in a months time when they receive a letter offering a token gesture any advice on this? or should I abandon the CC now and forget the camera body and work with what I have which is old.

Thank you all

PatsyMcM

I honestly don't know how anybody is surviving these days.
PR: [URL="javascript:{}"]wait...[/URL] I: [URL="javascript:{}"]wait...[/URL] L: [URL="javascript:{}"]wait...[/URL] LD: [URL="javascript:{}"]wait...[/URL] I: [URL="javascript:{}"]wait...[/URL][URL="javascript:{}"]wait...[/URL] Rank: [URL="javascript:{}"]wait...[/URL] Traffic: [URL="javascript:{}"]wait...[/URL] Price: [URL="javascript:{}"]wait...[/URL] C: [URL="javascript:{}"]wait...[/URL]
[IMG]chrome://seoquake/content/skin/close.gif[/IMG]

paybacktime2008

mikon wrote: »

Can I clarify a couple of things when I talk about image I mean I like to be smartly dressed ie go to work in a suit etc.. I do not wear designer gear I wear good quality garments. My car admittly I could drive and probably will move down market in the future. I certainly do not want to keep up with the jones because I like to be an individual and I cannot afford too.

I do photography at events so need to be presentable. Before I embark on the DMP I may purchase on my CC a new camera body how will this be viewed by the CC in a months time when they receive a letter offering a token gesture any advice on this? or should I abandon the CC now and forget the camera body and work with what I have which is old.

Thank you all

If the photography is a business surely it would come from a business account.

Does the old one work? If so you already know the answer.

Prudent

I have only once taken credit - for the mortgage on my house. I hated the feeling and went into overdrive to pay it off. I am 43 and would have to say I have lived perfectly well without credit. I have used a credit card once (other than as a way of getting freebies) and that was for a deposit on a hire car. I budget very carefully, am a compulsive saver and see managing money as an enjoyable challenge.