Post
Experience Project iOS Android Apps | Download EP for your Mobile Device

I Am Cash Only

i dont understant credit cards. plus i dont have the credit for a good one. not that i have bad credit, just a lack of credit. the only cards i qualify for are the kind i have to put my money into, and then pay fees for using my money. just doesnt make sense, but those are the cards that will build my credit so i can eventually get a 'good' credit card. sounds retarted to me. hell, i dont even have a bank account. every two weeks, my husband cashes his check at our local check cashing place; i immediately pay the bills, buy groceries, and then we know exactly what is left over. we usually blow about 300 dollars every two weeks. we only use cash. we've had a bank account before, and that was back when my husband made more money, yet we always owed the bank money and we ended up constantly being broke. i guess it just depends on a persons personal preference. as for me, if i have a credit or debit card, i'm just gonna keep swiping it over and over and over and over....you get my point. but when i'm dealing with straight cash, thats like power in my hands, and i'm gonna keep it for as long as i can.
antiyou antiyou 26-30, F 9 Responses Sep 29, 2007

Your Response

Cancel

now i'm too broke to worry. money is a thing of the past...lol

"the only cards i qualify for are the kind i have to put my money into, and then pay fees for using my money. just doesnt make sense" - you are so right!<br />
<br />
"but those are the cards that will build my credit so i can eventually get a 'good' credit card." - you don't want to do this, because they will just take more of your money in other ways (interest payments, late fees, atm fees, etc.). Stay away from this.<br />
<br />
"hell, i dont even have a bank account. every two weeks, my husband cashes his check at our local check cashing place" - stay away from banks too, they will take your money with atm fees, convenience fees, overdraft fees, check fees, monthly service charges, etc.<br />
<br />
"i immediately pay the bills, buy groceries, and then we know exactly what is left over." - good girl, keep it that way.<br />
<br />
"yet we always owed the bank money and we ended up constantly being broke." - because of fees I mentioned above, they suck your hard earned money, just for letting you use your money.<br />
<br />
"but when i'm dealing with straight cash, thats like power in my hands, and i'm gonna keep it for as long as i can." - good girl, keep it that way.<br />
<br />
I have 5 good videos that explain all this if your interested, let me know.

You won't improve your credit score by paying your monthly credit card statement in full. You MUST carry a balance to build credit. That's what really stinks about it. You have to pay for good credit. My suggestion is that you get a card and leave a VERY SMALL balance each month if you want to build credit. Only thing is, you said you would just keep swiping.. so maybe you shouldn't get one.. you could wind up in a lot of trouble!

The credit card industry is a total racket. People that have money use them like ain't no thang, and pay them off easily every month, meanwhile earning these silly points they try to rope you in with. Most folks though, can get into trouble so easily. I'd swear off them, except that they are a factor in getting your credit score up there, and also sometimes are needed for say renting a car or emergencies. I would say use a debit card which can also 'act' as a credit card, or get a card with a very low limit. Just be very careful.

well we actually got a cash card now. still not too sure how it works. i get mine in a week or so. we had to do something different. cause of my hubbys job, he wont be home every two weeks to cash his check.

It's been a long time since I used mainly cash. Must improve financial discipline to some extent, if the money is always passing through your hands, rather than just numbers going places!

well i havent heard anything about the usa heading for another depression. but i wouldnt be surprised if it happened.

you have a good plan. if i ever qualify for a good card with low rates, i'll defidently do that. but i think personally, i just prefer cash. i find it easier.

If you are interested in building credit for yourself, a simple method of doing so is to swipe it for gas every week. Pay the debt off in full every month, and in two years, you will have significantly improved your credit score. That opens up the door to larger loans and lower monthly payments, such as for a car or house. <br />
<br />
It's simple and effective. It shows responsibility, even for small payments.