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 ...
“I have nothing to hide or be ashamed of.”
Yet. Personally, I am on a terrorist watch list with all the other right wing kooks.
“Also, some things (air travel, car rental, hotels) must take a credit card. A debit card can be used but there are issues with that.”
Just pick the “credit” option when using the debit card. In that case, it acts like a credit card and gets all of the standard Visa/Mastercard protections.
But someday, you might.
“If you pay cash and live responsibly there won’t be a credit history so the banks will deny you credit when you really need it(or think you need it)!”
That is one of the biggest myths out there. If you have NO credit history, your FICO score will be 0 (zero). A zero score reflects as well against you as a high credit score. Of course, that assumes you are dealing with a responsible creditor. The snakes will look at it differently.
“After all, last year the economy experienced a sharp turn, from shrinking at a rate of 6.4 percent in the first quarter to growing at a rate of 5.9 percent in the fourth quarter—all while private-sector credit shriveled.”
Oh, For Pete’s Sake! How STUPID do they think we are?
ALL growth comes from the PRIVATE Sector. That little ‘blip’ they saw in the 4th quarter was from Big Government expanding...and expanding...and expanding...with OUR TAX DOLLARS...that haven’t even been earned yet! Aarrgghhh!
Leave it to ‘Newsweak’ to see the Silver Lining in the expansion of Big Government. *SPIT*
Government does NOT create jobs. Well, it creates jobs...but WE pay for those jobs; it’s not creating ‘wealth’ by any stretch of the imagination.
Ok. I’m done. For now, LOL!
Good rant! ;-)
The reason I've got nothing to hide or be ashamed of is, I done got old!
Now, "back in the day", it was a different story.
There are times I wish fervently that I had stuck to that ;money can be very expensive to rent .
“I had trouble borrowing money for a car within my means”
If you had to borrow money for a car, then it was not within your means. Cash for cars baby!
;-)
I’m talking more about the holds placed against your checking account - often are much greater than the actual purchase amount and can cause overdrafts unless you have a large cushion.
Well said. I used to use the cc for everything I could because I get “points” for it. I pay off my bill in total every month. Then I started paying a little more attention to Dave. While I have not abandoned the card, I pay in cash for my purchases because it’s kind of fun knowing that I don’t have to write a great big check when the cc bill comes in.
ding...ding...ding....we have a winner!
This nation will not grow and prosper without credit for business ..period.
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