Life Without Credit

disco_3

life Without Credit

Everyones nightmare, A life without credit cards or loans. yes, we have all experienced this thats why we use this forum.This question is raised frequently by most people that are entering the unknown, Bankrupcty, IVA etc, So lets see the facts.

With the use of credit cards

A false sense of freedom and security because when your out shopping you see something, out comes the credit card.

An appliance breaks down..Out comes the credit card.

Lets book a holiday..Out comes the credit card. etc.etc.

Without a credit card.

You see something you like.. You can buy it if you haver the funds.

An appliance breaks down..You can buy it if you have the funds.

Lets book a holiday..You can book it if you have the funds.

The good side of no credit card, no interest charges. We only buy what we can afford. This is where managing your money comes in to play. Save a little for breakdowns, Holidays etc. and do not use it for anything else..

Ok so a major appliance breaks you need a new washing machine for example your credit cards are at their maximum. Its impossible to take out another loan. How do you manage. Should you have put a little money aside for these eventualities..Yes but you didnt..

Life without a credit card will teach you this. fingers crossed you save enough to cover the first major upset but from then on its plain sailing.
We all act irresponsible with money throughout our life and sometime still do even without a credit card but it does make you think and you can survive life without credit.

wherediditallgo

So many (maybe most) of us who've gone BR haven't used our credit cards in years, & were struggling to pay off old debt. So we already know we can survive without credit - it's the charges, creditors who are unwilling to compromise on what they want from us, the DCAs who ring or write to the point of harassment etc that make it so difficult. You feel bullied into agreeing to pay a particular amount, or into taking on more credit, just to get people off your back. If I'd known 5 years ago what I know now, not only would I not have ended up going BR this year, I wouldn't have had the amount of credit I ended up with.

disco_3

It is easier than people think to live without credit. It is just getting used to it.
Myself included, i have lived for a few years with a basic bank account. I have not been BR but from my own experience its a better life.

Many times i have seen the latest gadget or similar but not having the funds either spurs me on to save for it or in time its forgotten and obviously was not an item i really needed.