Who here is living a credit card free life?

[snoopy]

We have credit cards, but never carry a balance, thanks to my DH. I didn't marry him for looks alone! He is good with money and dilligent about paying bills on time. He basically tells me what to spend each month, and I try to stick to that limit. Try being the operative word, I've never been good at sticking to a budget, but I do fall within reasonable range.

 

[LunarLady]

Originally posted by DopeyRN
I do just the opposite. We put EVERYTHING on our Southwest Visa credit card and pay it off each month. So far I have 2 free tickets to WDW...for nothing but paying my bills!!!!!

Thanks for the great idea! I've never thought about using a FF card to pay bills. Southwest has cheap seats anyway so this might work out well for me.

Thanks!

 

[catsrule]

my mom is 79. she has never had a credit card in her life. i have one for buying stuff on-line, making reservations, and that type of junk.

 

[chelsea&austinsmom]

I rarely use a credit card and if I or DH use the credit card we pay it off when the bill comes in. I know to many people that are in credit card debt and I don't want to live like that.

 

[Lars624]

Originally posted by Chattyaholic
My parents have no credit cards and no checkbook either! I don't see how they survive!!!

Maybe it's a Michigan thing because until about 5 years ago my parents did the same thing, but now they finally got a checking acocunt!

 

[ead79]

I have two credit cards (an AMEX and a Visa). I only use the AMEX to pay for my Tivo monthly fee, and pay it off each month. I am going to get rid of it (I used to have it so I could put WDW deposits on it over the phone). My Visa is overdraft protection for my checking account, and I never carried a balance until I graduated from college. I took my mom and on a WDW trip and planned to carry a small balance, which I did successfully. I now have just a tiny balance (around $80) which I am paying off as soon as the bill comes. I am lucky that my parents taught me to use credit cards responsibly, as I have many friends that don't.

 

[SandraC]

We aren't credit card free, but we pay off the balance every month, so we aren't in credit card debit. I like having cards, I don't carry much cash. I am THRIFTY GIRL. LOL! S

 

[EROS]

With our DELTA Skymiles AMEX we charge enough/year to earn 1 free trip; in addition, AMEX then gives us a FREE companion fare annually when I renew. WE use these free flights for travel to San Francisco and save at least $500/ticket, or $1000 annually!!!!!!!! . There is a $135/year fee, but it's well worth it ........

 

[disykat]

I also use my FF card for everything I can and pay it off each month. I'v not a big spender, but I do tend to spend cash more readily for a quick meal etc. if I'm carrying it.

 

[DocRafiki]

I guess I'm the only one here in CC debt. I pd off nearly every month for about 8 years, but I would have been kicked out of vet school if not for my CCs. I've used the CC checks to pay tuition and rent and was so glad I had that option, even if I had the hefty fees... better than being homeless or giving up a career!

I have to say that I don't understand how people could NOT have credit cards, unless they have at least $1500-2000 in the bank at all times. If they own a pet, car, or house, what do they do when there's an emergency? Well, I can tell you what they do with pet emergencies... I see that several times a week.

 

[Blondie]

Originally posted by DocRafiki
I guess I'm the only one here in CC debt.

No, you're not alone.

I guess you and I are the minority here though.

I honestly don't see how some people cannot carry some sort of balance.

With a mortgage, two car payments, and general household and child related expenses.....I find it very difficult to carry a running balance in the checking account, BIG enough to pay off my credit card debts each month.

I've always said, as long as we're keeping our heads above water, and we maintain a savings account, we're doing okay.

You only go around once in life..........if I die in debt, so be it!

 

[SandraC]

We pay off our balance monthly. We haven't paid interest charges in years. dh and I have always been pretty good savers. We paid off our house in 3 years ago, no car loans (we have 3 cars) and lots of Disney vacations. We aren't rich. dh works full time and is home by 4:30pm for family dinner. I work PT as a fitness, yoga instructor 3 nights a week and children's art classes four mornings a week, I work about 12 hours a week and I love it! While some folks live beyond their means, we are the opposite. I suppose we could own newer cars and a bigger house, but we like being home with the kids a lot and spend the extra money on retirement investments and vacations. So HONESTLY, there are people out there who pay off their balances and live comfortably. S

 

[Mskanga]

I'm one of those who is not CC debt free, but I only have one with a small balance that will be paid off very soon , we have mortgage, car payments and so on just like everyone else so I know we will never be debt free even if we have no CC's .
We do and buy what we need but if we can't afford it , we don't buy it. You can have credit cards and still have self control.

 

[Blondie]

Originally posted by SandraC
While some folks live beyond their means, we are the opposite. I suppose we could own newer cars and a bigger house, but we like being home with the kids a lot and spend the extra money on retirement investments and vacations.

I wouldn't necessarily say that people with CC debt are living beyond their means.

Now if you are shelling out more a month than you are bringing in, then yes, this is a person living well beyond their means!

 

[aprincessmom]

I honestly don't see how some people cannot carry some sort of balance.

I have to say that I don't understand how people could NOT have credit cards, unless they have at least $1500-2000 in the bank at all times. If they own a pet, car, or house, what do they do when there's an emergency?

I am one who is not credit card free but pays off in full each month. One trick I learned early in my credit card days was to deduct the amount of the purchase on my credit card right out of my checkbook. That way it was there (albeit hiding) at the end of the month because it had already been accounted for. If I couldn't do that, I didn't need what I was buying.

As for an emergency fund, that I do have. It's 6 months of living expenses...I think most financial experts say to have 3 but being a single parent with a house payment, a pet, and my first new car in 10 years in this economy, I prefer to err on the side of caution.

I've managed to build this up by having a savings strategy and by putting all "found" money into savings. By found money I mean things like birthday checks, tax returns (thought mostly I owe a small amount rather than use the IRS as an interest-free holding tank), portions of pay raises, bonuses, etc.

When I was just out of college, you are right, I didn't have an emergency fund and could have used the credit cards to make sure I had the short term solution. But I also focused on the long term solution and now, at age 40, I am in a good position. I am certainly not rich but should anything happen, I have a spending and saving pattern that won't make things worse.

 

[wdisneyaholic]

Another one who has credit card debt. Not really that happy about it. Unfortunately, sometimes it is necessary. With a family living on one income and 3 kids to feed and clothe sometimes you need to use them. I also do not understand how some people dont' have debt. I guess more money and better planning.

I would love to be debt free but unfortuatly I don't see that happening for many years. I wish I had someone who would take care of my money, pay my bills and give me a strict budget to stick too. I guee if I wasn't so weak about it I could do it my self.