Every now and then we need to review the purpose of Debt Free Living. Here goes: we live in a world of credit cards. These credit cards are how we live, how we spend, how we make some 95% of our purchases.
When we use credit cards we tend to spend 28% more per purchase. I’m not talking about the interest on the credit card. I’m talking about each purchase. Each time we use credit cards we tend to spend more money per transaction.
If you have to dig out your wallet and actually pay cash you tend to spend less, think about it more, and really feel it as those dollars leave your wallet.
When you spend with credit you tend to think you are richer then you really are, you tend to feel like there’s way more money than there really is.
Debt Free Living is a way of life. Debt free living is living the way 20% of the population lives, not the 80% in debt up to their eyeballs.
On top of it all when you use credit cards you get a bill each month. Your credit card bill includes interest payments. For many the minimum payments translate into a life time of bondage and thousands and thousands of dollars in lost money (unless you’re the bank who gets the money).
Debt free living is a mindset that is counter to the majority of Americans, the eighty percent(ers). Living debt free puts you into the twenty percent(ers). Whatever the majority is doing do the opposite, it will serve you well
A toast to Debt Free Living
David…
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