You and Your Credit Card: A Love Affair Gone Bad?

creditcards
Money can’t buy you class.

Can’t buy me love.

Don’t need no credit card to ride this train.

I bought a dress last week. An expensive dress. I paid in cash.

Yes, they thought I was nuts, too.

But here’s what I’ve learned: Counting out my stack of $20’s – the stack that required multiple trips to the ATM – makes it really clear just how much that dress costs. Counting out my wad of cash makes it really clear my money is leaving my hands (and bank account) for good. Counting out my hard-earned cash makes it really clear I’m trading my time and work for a thing (even if I’m secretly hoping that thing is really some terrific experiences).

And…

Counting out that wad of cash ensures that I think before I spend (far better than I don’t think, therefore I spend). Counting out that wad of cash ensures that, come the end of the month, I don’t suffer an anxiety attack when the mail comes. Counting out that wad of cash ensures that, though it’s a fortune, I pay for my dress what my dress cost, and not a penny more. No interest. No interest. No interest.

No credit card.

Sometimes – often times – no dress. But, then, no credit card debt. And maybe just a few more dollars for when I really need it…

One not-so-consuming consumer’s small contribution (here I join Roger Lowenstein and everyone else paying down their mortgage – see “The Long Payback” in today’s New York Times Magazine section*) to the current deleveraging in the American private sector… Learning from The Cheapskate Next Door: The Surprising Secrets of Americans Living Happily Below Their Means

Maybe it’s not so great for growing a consumption-based economy, but it sure feels virtuous…

C’mon in. The water’s fine, when you’re not in over your head…

*http://www.nytimes.com/2010/07/18/magazine/18FOB-wwln-t.html

Copyright © 2010 Marlin S. Potash. All rights reserved.

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One response to “You and Your Credit Card: A Love Affair Gone Bad?

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