CASH OR CREDIT?

Having good credit is of course very important , but how we use that credit is equally important.

Here are some reasons why I prefer to use cash over credit:

1. When using cash instead of a credit card, there are no interest rates added to my purchase. Whatever the price tag says is what I will pay for my purchase. Let's say you wanted to buy a pair of shoes and it cost $100 dollars.  If you choose to use your credit card, the cost of that pair of shoes could end up being $120 or more. That is an additional 20%!
2. Using cash keeps my money where it belongs; in my bank account.
3. Keep one credit card and use it only for emergencies.
4. Remember to keep all of your receipts, when you make your cash purchases!  Try storing them in an old shoebox over your closet or somewhere where it will be safe from damage.
5. Paying for anything by credit card means you have to pay the bill when it is due and in full. If you don't pay it back on time and in full, it is highly likely that you will be charged a very high interest rate.
6. Credit cards companies have a lot of tricks up their sleeves, used solely to get more money out of you.

           

     Using cash and using it wisely, can help you to avoid unnecessary debt and wasteful spending.