What do you have in your wallet? I’ve always been a big fan of spending only what I had in my wallet and nothing more. Don’t buy on margin, never use layaway, (does anyone still do this?) and under NO circumstances use credit!
It probably has a lot to do with how I grew up, but the more I realize and UNDERSTAND how credit works, the less scared I am of it. When I opened my first credit card, I didn’t spend anything on it for probably 4 or 5 months; then a little here, a little there until I got the hang of it…
Let’s take a little poll before going on to the rest of the post just to see where you fit:
In all frugality, I’m doing myself a favor.I spend $70 per year to have this card, and each year I easily put 30,000+ miles on it; and a free trip anywhere in the world costs 120,000 air miles. A ticket to Australia today costs about $1500.00USD. You do the math.Where did you fall on the poll? Why do you prefer that form of payment?