Welcome to APN! Forums Survival, Preparedness, and Sustainability Home & Family Preparedness Financial Issues WHAT’S IN YOUR WALLET? WHY I SELDOM USE CREDIT CARDS.

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    I am DEBT FREE and very proud of it. What’s in my wallet? Cash. I hate debt. There are several reasons why I seldom use a credit card, but first I have some other things to say. For most of my life I was in debt. I started building credit at age 12. Amazing thing for a kid back in the early 1960s, but I worked and everyone in town knew it. I lived in a small town of 5500 population. There were many ways that I earned money. I had things on layaway in several stores and businesses. I did not learn everything from my parents, but I observed how my Mother kept her budget. I started out small. I wanted to play baseball in the summer kids Rec. program. It cost money. $5.00 to register, and pay for the team cap and “T” shirt. I did not have a baseball glove. They cost between 5 and 6 dollars back then for a good one. My family was rising out of poverty into lower middle class, so I paid for the things I needed and wanted that my parents could not afford to buy for me. I worked hard, did a good job, I took pride in my work. I was industrious and ambitious. Some of the odd jobs were hard, some were easy. When I became an adult, I easily obtained more credit. I got revolving credit at local stores and businesses. Bank loans, 2 prestigious credit cards. Car loans. Then Gas credit cards, Penney’s Sears, etc. Everything seemed to be going great. I paid my bills on time. Then it happened. Union labor strikes, out of work, and the beginning of the Recessions that continued to this day. Every few years another recession. There never was a full recovery from any of them. I lost my major job. Owed a lot of money, or so I thought, but not by today’s debt averages. I was in financial trouble and had never been through that before. I spent nearly the next 4 decades in debt. I became a slave to my debt. It influenced every life decision that I was faced with. It ruled my life. It was like being in chains with a steel ball attached. I had a 600 pound Gorilla on my back. I was constantly hounded by letters and phone calls, day and night from creditors. My credit was ruined and in a shambles. There were no bailouts. I lost a lot. Interest on debt mounted. Life became a constant struggle for survival. Bankruptcy was out of the question. I owed the money and would find an acceptable way to earn the money honestly and pay it back honestly. I was trapped on a roller coaster that never stopped and had very high highs and very low lows. I became totally debt free in 2008. The Gorilla was off my back and the ball and chain were removed. I then slowly began to very carefully re-establish my credit, first with my bank, and then with credit cards. I did not get the cards to use to do it all over again. DEBT IS A FORM OF SLAVERY. Now if I use a card it is rarely and knowing that I will be able to pay it in full on the very next statement. Credit card companies and banks hate card holders like me. I pay no annual fees, no late charges or penalties, and no interest at all. It costs them money to have me and they do not make a cent from me. They try every trick in the book to make money from me, all of which I ignore. What’s in my wallet? Cash! 🙂 Lifelong

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