anyone else want to stop charging?

[mrsboz]

I am going to try like heck to stop charging. I am going to put $25.00/week in a checking account just for me. I am going to try to withdraw from this account everytime that I want to buy something. I will try to buy all the party presents, school clothes and maybe by next year the christmas presents from this account. I am sick of charging and seeing the total on the charge receipt. Anyone else care to join me?

 

[nuke]

I'm with you. I've taken all the cards out of my wallet and cut up the ones I'm paying off. I have two that are emergency cards and they are in the desk drawer. It's hard but the easiest way is to stay out of the stores unless you need something. Good Luck!

 

[TNKBELL]

I've already stopped, and it's sooo hard, but it will be rewarding to see those cc bills going down instead of maintaining or going up! I never realized how many little extras there are that are impossible to budget for! For instance, we are Godparents to our friends newborn baby, so I had to get a gift (happy to do it!!!) then they called and asked us to bring a side dish, no problem, then one of the family members called and asked if I could help with a shower too, I had already given them a gift after the baby was born so now I need to bring a food tray and purchase yet another gift. They are wonderful people so I am certainly happy to do it, but it just makes budgeting more challenging!! Not to mention my Dks friend's birthdays that just seem to pop out of the woodwork. I'm having to get creative for all these things and try to do some homemade items that are still very nice and a little bit of a budget saver, every little bit helps! Good Luck to us all, we'll need it!!

 

[mrsboz]

The killer is all of the birthday presents. I think that it is totally ridiculous. I have 14 nieces and nephews plus three of my own kids plus two very close friends and then all of the parties that they are invited to. Between Christmas and parties it is about a gift a week. It would be nice if everyone would just have a party or not and have no presents. I have attempted to try to pass this along. A couple of them have bitten and a couple got very angry. I started today. I took my $25.00 out and am going to open my own checking account this week. I figure I might have to charge a couple of things in the beginning to get me started but I am hoping that before long I won't have to dip into the charges at all. Let's get excited to save! Good luck everyone!

 

[A Mickeyfan]

I haven't stopped charging because I like to earn rewards & cash back. I charge everything I can...but & this is a big but (hard to do at times too)...I pay it off every month! I put the money aside in my checking account. I log an entry in that I spent the money.... but really didn't. Then when my charge bill comes, I have all the money to pay it & still reep rewards for using the charge card I just cashed a $291 check from Citibank for my Master Card. I used up all my rewards for that card for the remainder of the year (they limit your cash back). Now I am using my Disney Visa (big difference in rewards but better than nothing) to rack up my points with them. Come January, I will go back to my Citibank MC for the cash rewards...then back to the Disney Visa etc... but will still pay off in full every month.

 

[DisneyGirl]

I haven't stopped charging because I like to earn rewards & cash back. I charge everything I can...but & this is a big but (hard to do at times too)...I pay it off every month! I put the money aside in my checking account. I log an entry in that I spent the money.... but really didn't. Then when my charge bill comes, I have all the money to pay it & still reep rewards for using the charge card I just cashed a $291 check from Citibank for my Master Card. I used up all my rewards for that card for the remainder of the year (they limit your cash back). Now I am using my Disney Visa (big difference in rewards but better than nothing) to rack up my points with them. Come January, I will go back to my Citibank MC for the cash rewards...then back to the Disney Visa etc... but will still pay off in full every month.

I do (and always have) done the exact same thing-- if the place I'm at takes credit, it goes on the credit card! The rewards are just bonuses for spending the money I would spend anyway! Not worth it if you can't pay them off, though...

 

[lbgraves]

I find it much easier for my record keeping if I simply charge it and then pay off the balance when the bill comes. It is also good for warantees because using Visa doubles the time for it. Of course the cash back is a great reason.

 

[trampslady]

For those who use the cards and then pay in full each month--isn't there still some interest associated with the monthly charges?

 

[lbgraves]

The card we use do not have an annual fee. I will NOT pay those! If you pay the bill by the due date & you paid off the balance the month before you are not charged any interest. I have never paid interest on a credit card in my life & have had one for the last 20 years.

 

[mrsboz]

It's fine if you pay it off every month. I wish that we could. It starts out that you only need a few things and then all of a sudden you get into a trap. I also notice that when I am at a store that if I charge I don't mind getting this and that it doesn't seem like you are really spending the money. But, if you pay cash you wouldn't be so easy to throw some more STUFF in there. Anyway, I am really hoping to stop charging and getting on the other side. Good luck to everyone who joins me.

 

[jlb]

That is why we stick to our amex, there is no question about it. If it is an emergency or something we need/want we have to pay for it in full. Sometimes it hurts, but we are glad it is paid up and not gaining interest.

 

[lisajl]

I am going to stop. Had to use it to secure a hotel room for next month, but other than that, I need to get it paid off.

For Christmas gifts we are paying cash or putting in layaway.

No more charging!
Lisa

 

[DisneyGirl]

For those who use the cards and then pay in full each month--isn't there still some interest associated with the monthly charges?

I've been paying my credit cards off monthly for 12 years-- during those 12 years, I've had numerous different cards. I have never had one that charged as long as I paid it off each month (the finance charges, I suppose, start with whatever you don't pay off after that first month)

I have never heard of a card that charges a finance charge for even paying off the card every month. There are cards with annual fees (and even they are getting few and far between)-- if you get one with an annual fee, there should usually be additional services that you wouldn't get with cards without the annual fee (some have more rewards than others/ additional insurance on purchases, etc.)

I think there may be additional fees on cards issued to those who have a low credit rating and are trying to rebuild their credit-- in that case, it's worth it to build credit!