CASH
ONLY
By
Doris S. Dobkins
dorisd@creativefinances.com
Let's talk a
little bit about credit cards for a moment. Did you know that
baby boomers are the first generation to grow up at ease with
credit cards and ATM's. At the same time consumer debt has also
increased to an all time high. Do these two things have
anything in common? I believe so!
Using a
credit card for purchases tends to increase your average
purchase amount as well as increase your impulsive purchases. It
is a proven fact that people who accept credit cards get more
sales (about 90% more sales). That’s definitely something to
think about.
Question:
Where are those sales coming from?
Answer:
Those of us with credit cards in our pocket willing to use them.
I have a
challenge for you. Can you go for a whole month without using a
credit card? Try it, and see how much money you can savefrom
avoiding those impulsive and spur of the moment purchases.
I know I
spend a lot more money in a store when I know I will be charging
my purchases. Carefully determine what you need before you go
shopping. Make a list and stick to it. If you have to,
estimate the cost of what you will be buying and take only
enough cash to cover your purchases.
I can't
emphasize this enough. One of the keys steps towards being debt
free is to pay off your cards in full each month. The other key
step is to stop using them - which cuts down on your impulsive
and unnecessary spending.
Instead,
invest your savings or put it in the bank. Save up for the
things you need and live below your means. Enjoy a richer
fuller life without debt.
Take the
challenge and let me know your experience. I'll be glad to print
them in my newsletter.
Send an
email to me with “CASH ONLY” as the subject or click on the link
below:
dorisd@creativefinances.com
* * * * *
Doris S.
Dobkins, is a money saving expert and the author of the book
" Financial Freedom from A-Z". She is also the
publisher of a weekly online ezine $mart Money New$
full of financial strategies and money saving tips. To
subscribe, send an email tonews@creativefinances.com
or visit her web site today at:
www.creativefinances.com
