It says something about our society today that such a basic concept is something of an epiphany.
Posted on 03/25/2010 2:43:08 PM PDT by 2Jedismom
"...The ability to adapt rapidly remains one of America's competitive advantages. And since the onset of the financial crisis, both consumers and businesses have embraced the new reality. After digging themselves out of $20,000 in debt in 2007, Susannah Fater, her husband, David—a district manager at Staples—and their four children did something radical: they became an all-cash household. "Bills like groceries, gas, and allowance are taken out every month and put into envelopes so that we know exactly where we are financially," says Susannah..."
(Excerpt) Read more at newsweek.com ...
Thought this was interesting...we use the envelope system too.
Cash is a good policy for those who can’t properly handle a credit card.
Or those who don’t want to leave a trail everywhere they go.
My apologies for number 3, it’s rather snarky sounding and I meant no personal animosity.
We use credit to some degree unfortunately because it seems like another emergency comes along before we can pay for it in cash despite trying to save money for those times.
Those who use credit for just anything are really hurting I am sure....
Cash is also a good policy for those who CAN properly handle a credit card.
I have nothing to hide or be ashamed of.
Or when I buy ammo for the guns I lost in a boating accident.
Cash is sometimes inconvenient for me, especially in amounts that I'm not comfortable carrying around.
You lost the ammo or the guns? Or both?
I carry no credit cards.
Been using a Visa/debit card for years.
The banks then stole the underlying assets.
A bear walked off with my guns when we were camping last year. Damned bears.
the right to arm bears shall not be infringed.
I mostly use debit but I learned recently that you can't buy a $1200 item with a debit card, not with mine anyway.
That’s ok.
I am extremely interested in what the future holds for the “FICO” score in relation to this. So much emphasis has been placed on it for so long but I seriously don’t believe it will worth a hill of beans in the future.
As more and more people move away from using credit daily (excepting home loans, I mean), I have to believe that the use of the FICO score will change as well?
I don’t know...just another aspect of the current economy that I find of interest.
I can’t imagine going back to walking into a station and waiting in line to talk to a human to pay for gas instead of just paying at the pump.
Odd thing, I keep losing the ammo I buy with cash every time I go on another boating trip.
It says something about our society today that such a basic concept is something of an epiphany.
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