Better Off In the Long Run

Living within your means is the number one financial tip, and living without credit card definitely helps in that.

I pay off my credit card in full every month - never let the balance carry over.

You guys are smart to stay out of debt!

I sure admire the "Freek's" achievement: paying off his mortgage at forty years old. That's a helluva feat! I felt good and accomplished paying off our mortgage at 50. Then we went for a a few months with absolutely no debt but our ten year old car died and we borrowed to get a new one.

We use our credit card like "sasxiv," as a plastic check so to speak, paying off the balance in full every month. It's a convenience and we get a slight bit of "credit card float" doing that.

I salute you guys for your financial acumen.

Well done to you all.

My freaky confession is I have never had credit. I have always lived my life dealing with cash for anything I want or need.
It was something my father has always told me growing up. If you don't have the money then don't get it until you have saved for it..

I have never had any debt's at all and never will.

to many companys taking advantage of people out there with such high interest. most of us dont need to get loans for most things really. if we can afford to pay off a loan. then we can afford to save and pay for it in the first place. i dont believe in having small loans with high interest. that can really make people struggle in the most horrible ways. stay away from them safe and be happy for the things you have. good on you maineac.smart thinking. if only more people were smart enough to know better.

Don't forget Folks, the main reason people rely on credit is THEY CAN'T AFFORD STUFF OTHERWISE. Many people make less than they spend, even after cutting expenses to the bone. Then the car breaks down, or a loved one gets an illness, or you're laid off because the place you work isn't doing so well these days...

Staying debt free is great advice, but that relies on a stable liveable salary, or relatives to give you a few bucks here and there if/when you need it. Many people aren't so fortunate.

I just want to make sure we don't fall into trap of blaming people for their own debt, when the entire economic system is set up to perpetuate it.

Let me repeat: IT IS NOT YOUR FAULT IF YOU ARE POOR, NOR YOUR ACHIEVEMENT IF YOU ARE RICH...with exceptions to both of these rules, of course.

I am so glad I adopted my parent's habits and ONLY use my credit card when I HAVE to (usually internet transactions, in case of emergencies, which are extremelyyyyy rare).

There was a study that showed that people spend 20% less if they pay with cash -- because they actually SEE the bills leave their wallets!

I'm so glad I have zero debt. I feel awful for my friends who have 15k + in credit card debt, but at the same time, they weren't *forced* into it.

You guys are an inspiration. I'm trying to pay off my credit cards' bills and I'm going to debt free! Soon hopefully :)