We've just cut up all our credit cards!!

foxgloves

A big well done! They are just too tempting, & although they can feel like 'friends' when cashflow is poor, it's really only the banks which benefit from credit cards.......that's why they've sold so many of them to so many of us! We used to use a lot of credit for buying things we wanted. Now our debts are paid off, we always plan what we want to buy & then save up the money. It may mean a delay in having whatever it is, but it is such a good feeling paying for something out of our own money & not sticking it on credit that we will never go back to how we used to be. So well done! I've posted this before, but something that helped us get debt-free was telling ourselves "If it has to go on a credit card, overdraft or loan, then that's not our money, that's someone else's money, so we obviously can't afford it". Be strong, plan & budget hard & you will start to feel the benefits x

BlushingRose

foxgloves wrote: »

A big well done! They are just too tempting, & although they can feel like 'friends' when cashflow is poor, it's really only the banks which benefit from credit cards.......that's why they've sold so many of them to so many of us! We used to use a lot of credit for buying things we wanted. Now our debts are paid off, we always plan what we want to buy & then save up the money. It may mean a delay in having whatever it is, but it is such a good feeling paying for something out of our own money & not sticking it on credit that we will never go back to how we used to be. So well done! I've posted this before, but something that helped us get debt-free was telling ourselves "If it has to go on a credit card, overdraft or loan, then that's not our money, that's someone else's money, so we obviously can't afford it". Be strong, plan & budget hard & you will start to feel the benefits x

Thanks gloves, although we weren't buying 'things' on them (well not until now when it was presents for people) but they've been keeping us going for *years* now as, after bills and paying loans and the CCs, we didn;t have enough money left for food and petrol - so it went on the CC.

Wellyboots6

Well done!!

Mum put mine in her freezer the other day, so now I have to travel all the way over to see her and then defrost them before I can use them!

Maybe I will cut them up when I have managed without them for a week. Maybe...

camuk81

Well done. I finally pulled my head out of the sand sat down and worked out I owed £14339.74. The bank revoke my credit facilities last week just after trying to get back on track but I can proudly say instead of being silly with child benefit I am now putting it towards my payments.
Month 1 and I have cleared £152.90. Feel so much better today checking my first balance and it saying zero. Only another £12506.49 to go! Might work on the bank charges next!

sezmcd

Well done - like someone else said, often this is the scariest thing to do - you no longer have your "safety net". However, 5 yrs & 4 months ago, we were refused anymore increases on our credit cards so had no choice but to cut them up. We had been using them for every day things - petrol, food etc. Suddenly we were forced into facing our problem. I now look at every item i my house & feel immensley proud that everything was paid for by cash, that we own it right out. Its hard the first month or so having to readjust, but trust me - you will feel so much better once you set yourself a budget. Good luck xxx

BlushingRose

sezmcd wrote: »

Well done - like someone else said, often this is the scariest thing to do - you no longer have your "safety net". However, 5 yrs & 4 months ago, we were refused anymore increases on our credit cards so had no choice but to cut them up. We had been using them for every day things - petrol, food etc. Suddenly we were forced into facing our problem. I now look at every item i my house & feel immensley proud that everything was paid for by cash, that we own it right out. Its hard the first month or so having to readjust, but trust me - you will feel so much better once you set yourself a budget. Good luck xxx

Thanks, it's so helpful to hear when others have done what we're doing xx

Standingtall

Well done Blushing Rose, I hope you feel happier today and are a little less scared?

BlushingRose

Standingtall wrote: »

Well done Blushing Rose, I hope you feel happier today and are a little less scared?

It kinda comes and goes, if that makes sense?
Some days I'm fine, almost excited by it all and then other days I'm in tears, worried about what's going to happen and how we'll manage without credit...

Standingtall

I can understand that BR, I do have moments of doubt but still these are overshadowed by the immense relief. I know you are not 'out of debt' in a DMP but for me it does feel that way. My monthly payments went down from around £400+ to £120 ! I can now pay for a pair of jeans, for instance, with cash rather than credit. Will this be the same for you? If so, then maybe you could allow each other a little pocket money to reward yourselves?

debtfreewannabe321

I cut all mine up in January this year and cancelled all overdrafts haven't looked back since with a clear budget it's easy to see how much money is spare ( or not) and we treat ourselves accordingly it hasn't been easy but I'm so glad we did it