Living A Cash Life - How's It Working for You?

[trying_to_fix]

I guess it all depends on why you filed to begin with. In my case it wasn't because of spending on credit cards, it was due to some extra real estate I couldn't get rid of.

I know what I spend every month on credit cards as I track it in Quicken and use Excel to track my monthly bills. So I have a system that tells me exactly where my money goes. If I see I'm spending too much in one area I know to slow it down. Every month the cards get paid off and there is never any debt incurred.

Given that we like to travel often, go out to eat, and want to rebuild our credit scores, using credit cards is a necessity. Yet even with these cards and my checks getting directly deposited into the bank accounts - financial institutions make very little off of me and in fact award me for using their services. It's a great system if you don't let it get the best of you.

[addisonsmom]

I will NEVER own another credit card. I have some seen on this BK forum where there are so many that think they have to have one to reestablish credit. Why would you want to reestablish credit? Isn't that why most of us ended up here in the first place?

I love using cash. I find that I spend less and am actually able to save. It is something about burning cash that hits me where it counts. We are new to this method, but I think we have already learned our lesson though. We plan on doing everything with cash. CASH IS KING!

[beachchick]

I will never have another credit card for the rest of my life, it is cash or debit card. You can order on line, rent cars, hotels, etc. I travelled through the Mediterrian on a cruise, visiting many countries and all I had was my debit card.

[tobee43]

I will never have another credit card for the rest of my life, it is cash or debit card. You can order on line, rent cars, hotels, etc. I travelled through the Mediterrian on a cruise, visiting many countries and all I had was my debit card.

well...unfortunately for us...we want to buy this house one day...so we need to build up our credit once again.

actually...we never used our cc's for luxury items or to go out to fancy places to eat or vacations...we used them for medical expenses after we hit our yearly limit with our insurance co....to the tune of over 200k......then lost our jobs and our house after 33 years...no one could ever say we missed managed our money...or over spent. we purchase our "luxury" car in cash years ago, any clothing etc...CASH...never credit.

so now we need to build it back up...or we will never get a mortgage...so we now have a few cards we are going to use just so in the future we hope to get a mortgage...it's not what i would chose to do...unfortunately society has chosen for me.

[artgood]

I just filed so I can't speak to life after the discharge yet, but I can't see us having a CC in the foreseeable future. I want to stay away from them for as long as I can. We want to buy a house someday as well, but I'm not looking to have a CC anytime soon.

[Resigned2BK]

we havent had a credit card since 2008 - dont miss it one bit. Have there been times we needed something immediately, like repairs? Yep... but we've managed somehow and I'm always amazed. I'm even more amazed at when we go into a store and are offered 10-15% off to open a credit card... uhm.. no thanks That "savings" isnt a savings at all, its a "gotcha" in the end.

We use our debit card just like a credit card and pay cash for everything we need. Never again will we have another one and dont miss them at all.

Never have had a store card my entire adult life. So that'll be easy.

I have more the tactic of some who say to use CC but pay it off each month. Personally I want to go about 95-99% cash and just use the card to buy gas once or twice a month. That way I build credit towards the end of being about to have good interest offerings for buying a car again years from now (or house if we lose this one which has a good chance of happening) but I have a small enough amount owed that it should be a cinch to pay it off.

[tobee43]

well, personally we have continued to strive and live quite well on a cash only basis...however, that's only been since i have been able to perfect the 100 bill...i have it down pat now...you can't tell it was just made this morning...working out well......it's all in the ink and drying methods...