Cut Your Credit Card Into Millions Of Strips

Mickie31

Personally I have never owned a credit card in my life. I would never own a credit card. I have always said I would never own a credit card and I will stick with this till I die. I believe it is the sure fire way to get in debt fast. Nowadays it seems like everyone has a credit card. It seems to be the modern attraction like owning a mobile phone or Bluetooth. All these things come to try us and take us deep into debt.

Recently I have bought Martin's book and even though he does make a lot of sense. He talks about credit cards as though they are something that people would automatically keep. I disagree. I think to end debt you need to cut your cards into millions of little pieces and just use cash. You then know how much money you have and how much money you can spend.

An excellent point from Martin's book because he does give fantastic advice is to start spending at the end of the month. In other words wait till you are due your next pay cheque before you start spending. Also do not be tempted to then spend when you get the money in your bank. It takes a little while to get into the swing of things, but when you do you will never look back!

Snooze

Er, right, okay.. Thanks for your advice.....

Rob (with 6 credit cards, a secured loan, a mortgage and no debt problems) :rolleyes:

brownbabygirl

Mickie31 wrote: »

Personally I have never owned a credit card in my life. I would never own a credit card. I have always said I would never own a credit card and I will stick with this till I die. I believe it is the sure fire way to get in debt fast. Nowadays it seems like everyone has a credit card. It seems to be the modern attraction like owning a mobile phone or Bluetooth. All these things come to try us and take us deep into debt.

Recently I have bought Martin's book and even though he does make a lot of sense. He talks about credit cards as though they are something that people would automatically keep. I disagree. I think to end debt you need to cut your cards into millions of little pieces and just use cash. You then know how much money you have and how much money you can spend.

wow, you really are a 'moneysaving newbie'!:D

Volcane

Mickie31 wrote: »

Personally I have never owned a credit card in my life. I would never own a credit card. I have always said I would never own a credit card and I will stick with this till I die. I believe it is the sure fire way to get in debt fast. Nowadays it seems like everyone has a credit card. It seems to be the modern attraction like owning a mobile phone or Bluetooth. All these things come to try us and take us deep into debt.

Recently I have bought Martin's book and even though he does make a lot of sense. He talks about credit cards as though they are something that people would automatically keep. I disagree. I think to end debt you need to cut your cards into millions of little pieces and just use cash. You then know how much money you have and how much money you can spend.

An excellent point from Martin's book because he does give fantastic advice is to start spending at the end of the month. In other words wait till you are due your next pay cheque before you start spending. Also do not be tempted to then spend when you get the money in your bank. It takes a little while to get into the swing of things, but when you do you will never look back!

....and breathe!

Kavanne

I always pay off my credit cards each month. I put spending on them to earn moneyback/nectar points/airmiles which I wouldn't get with cash...

Also for the purchase protection I get on things like holidays and larger items.

Yorkshire-Lady_3

Horses for courses - Millions have credit card and don't get into debt. Not everyone has such a strong constitution as you!!

~Chameleon~

Credit cards can be excellent tools and you can make money from them! Obviously a certain amount of self-discipline is required so if you're the type to max out all your cards and only ever pay minimum monthly payments then obviously a credit card is not for you

bethanyrayne

Mickie31 wrote: »

Personally I have never owned a credit card in my life. I would never own a credit card. I have always said I would never own a credit card and I will stick with this till I die. I believe it is the sure fire way to get in debt fast. Nowadays it seems like everyone has a credit card. It seems to be the modern attraction like owning a mobile phone or Bluetooth. All these things come to try us and take us deep into debt.

Recently I have bought Martin's book and even though he does make a lot of sense. He talks about credit cards as though they are something that people would automatically keep. I disagree. I think to end debt you need to cut your cards into millions of little pieces and just use cash. You then know how much money you have and how much money you can spend.

An excellent point from Martin's book because he does give fantastic advice is to start spending at the end of the month. In other words wait till you are due your next pay cheque before you start spending. Also do not be tempted to then spend when you get the money in your bank. It takes a little while to get into the swing of things, but when you do you will never look back!

I actually do totally agree with you, however, our entire economic system is based on credit and I might add also that of the entire western world.

If everyone where to follow your advice our system would collapse, millions would be unemployed and chaos would reign,

In other words we got onto a high speed nonstop train to nowhere and we can’t get off. The aforementioned collapse will happen anyway but we don’t wish to precipitate it.

Stompa

Mickie31 wrote: »

Personally I have never owned a credit card in my life. I would never own a credit card. I have always said I would never own a credit card and I will stick with this till I die. I believe it is the sure fire way to get in debt fast.

It's fairly obvious that you really don't understand how credit cards work. There are numerous benefits to having one.

sjc_2

Bit difficult using cash on the internet, but what the heck I could go on the high street and use cash and pay lots more for the same item.

CC's are a way of life, unfortunately and I agree it is very easy to get in to debt with them. I learnt the hard way. Mine gets used for Company Expenses which is soon to end as Company paid CC on way, but other than that for food, petrol and virtually everything else. As it beats carrying huge wads of Cash around plus if I pay off each month the Cash is sat in my Bank account saving me interest on my off set mortgage.

NickX

Sorry, but I find the opinion of the OP very narrow minded. Credit Cards are very very useful and not simply a means of getting into Debt. For example by using Credit Cards :

(a) Booking hotels and hire cars becomes much easier

(b) You receive additional purchase protection under Section 75

(c) By careful planning you can purchase things sooner than you would otherwise and benefit from up to 56 days interest free.

(d) If you are into stoozing, you can earn additional money from the Credit Cards.

(e) Earn Cashback or Airmiles on your purchases.

Naturally to benefit from the above you do need a degree of discipline, and it is easy to slip into debt on them. However, I do find the "Credit Cards are evil" attitude to be rather short-sighted.