Now is a Good Time to Try Living With Cash Only
With this continuing poor economy, high unemployment rate and recession many people are going over their budgets and trying to find ways to manage their money better.
So actually, for the majority of us this recession is a good thing because it's forcing us to get a handle on our spending, saving and budgeting.
Not a bad thing at all.
For those that still haven't got this figured out or are struggling, this many not be the best time of your life.
Managing your money can be very simple or complicated with graphs, spreadsheets and computer programs.
But if you want to be financially secure and grow your retirement fund then you need to put forth the effort to manage your money.
Thanks to the recession many people are slowing realizing that credit cards are not the greatest things since sliced bread.
Those companies are out to make a healthy profit whether you are in good times or bad.
Also with these new laws and more changes in the future, using a card may be more of a hassle than its worth.
Many people are switching to cash only methods of dealing with their finances.
One of the great benefits to switching to a cash only system is that you really will save money.
People that adopt a cash only budget spend much less than if they used a credit card.
You can't spend on credit because you can only buy with the cash you've got in your hand.
When I switch to cash only I watched where I spent my money and how much it cost like a hawk.
I couldn't believe the difference in my behavior because using a debit card, credit card or cash always leads to one thing and that's me paying the bill.
But for some reason paying in cash makes you realize that you're actually spending your hard earned money.
For those that have primarily used credit cards, you may find this a good time to try out the whole cash thing.
The new rules are to protect consumers by more closely regulating the credit card industry which is good, but the perks are dwindling and zero percent balance transfers are a thing of the past.
You used to be able to find three percent cash back rewards cards with no problem but now I can only think of two.
Other credit card perks such as getting airline miles, is getting more difficult as well as you need to spend more to rack up those free tickets.
The benefits of having a credit card and managing it wisely are really disappearing.
So actually, for the majority of us this recession is a good thing because it's forcing us to get a handle on our spending, saving and budgeting.
Not a bad thing at all.
For those that still haven't got this figured out or are struggling, this many not be the best time of your life.
Managing your money can be very simple or complicated with graphs, spreadsheets and computer programs.
But if you want to be financially secure and grow your retirement fund then you need to put forth the effort to manage your money.
Thanks to the recession many people are slowing realizing that credit cards are not the greatest things since sliced bread.
Those companies are out to make a healthy profit whether you are in good times or bad.
Also with these new laws and more changes in the future, using a card may be more of a hassle than its worth.
Many people are switching to cash only methods of dealing with their finances.
One of the great benefits to switching to a cash only system is that you really will save money.
People that adopt a cash only budget spend much less than if they used a credit card.
You can't spend on credit because you can only buy with the cash you've got in your hand.
When I switch to cash only I watched where I spent my money and how much it cost like a hawk.
I couldn't believe the difference in my behavior because using a debit card, credit card or cash always leads to one thing and that's me paying the bill.
But for some reason paying in cash makes you realize that you're actually spending your hard earned money.
For those that have primarily used credit cards, you may find this a good time to try out the whole cash thing.
The new rules are to protect consumers by more closely regulating the credit card industry which is good, but the perks are dwindling and zero percent balance transfers are a thing of the past.
You used to be able to find three percent cash back rewards cards with no problem but now I can only think of two.
Other credit card perks such as getting airline miles, is getting more difficult as well as you need to spend more to rack up those free tickets.
The benefits of having a credit card and managing it wisely are really disappearing.
Source...