Debt-Free Life, Lose The Debt

Credit Card Fast in December? Series Pt. 1

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credit card fast in December?

Credit Card Fast in December, Really?

 

 

 

Credit Card Fast in December: Who would ever do that? Raising hands and jumping up and down…me me me! My personality would never allow me to be subdued about this idea.

Background

  1. We have been debt free for 13 years.
  2. And debt free except for the house for 15 plus years.
  3. We used cash only for about 5 years.

Then We Graduated

We have been using a cc again for about 13 years. Here is how we are using it. Find something we want to buy…get the cash and put it in an envelope, and then go buy the item. We have never paid an interest payment in 13 years.  And they have paid me money at the end of  each year!  We use a card that gives back cash rewards. Win win… Woot wooot woooooot!

Troubles Starts to Brew

None of us are perfect… after 13 years of applying this same philosophy, I found myself, during the last three months or so, buying more on my card without using my pay it first system. Hmmmm. Not so good. I have paid the bill in full each month but struggled to find the cash. Slippery slope for me.

 Creative Solution: Credit Card Fast

 This plan will help me reset my state of mind, and commitment to living a cash only lifestyle. In addition it will remind me I have a finite amount of money to spend. Then I can go back to the put the cash in the envelope before buying method and make money.
I knew I was going to implement this simple plan in December. A month that everybody is loading up on debt. My Christmas gift buying has been completed, and paid for in November.
I have several items that I pay by charge monthly. They are Netflix and my Young Living Oils. They will still be charged. But that is it!!!! The money is already in an envelope, and I will go and pre-pay it so when I receive my bill it will have a zero  credit balance.
 I love this idea because it is brings me back to the basics of how I have chosen to live life. A simple way to reconnect to my beliefs, and to brush away any cob webs that the busyness that life has tossed my way.

How You Can Implement this Idea

I know that most people carry a large balance on their credit card, and cannot get it to zero. But this exercise is great for rebooting your way of using your credit card. You might even decide to keep going with idea.

 

If you cannot pay off your balance try this.

  1. Choose to fast your credit card next month.
  2. Pay cash for everything next month
  3. When you bill comes in enjoy the fact that the balance did not go up.
  4. Consider continuing the process until the bill is paid.

 

If you can pay off your balance try this.

  1. Choose to fast your credit card next month.
  2. Pay off the balance
  3. Pay cash for everything
  4. Before each credit card purchase put the cash away in an envelope.

 

No Cheating…if you have more than one credit card don’t use a different one to make up for not using the first one. Wink. LOL

That way all your credit card balances stay the same and do not go up….a win win situation.

 

Credit Card Fast Can be Fun

A credit card fast for a month is a fun, and an easy way to help with changing your charge it mindset. If you are just starting the process of getting out of debt you will find this exercise very eye-opening. It may help you make a different decisions in the future, and might be just what you need to get the credit cards in line with your debt free choices.

Who out there would choose to use a credit card fast  for a month? Why would you do it?
Till the next time,
Kate