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Cutting Up My Credit Card

April 16, 2008

 I’ll never forget the day I cut up my credit card. I performed this plastectomy on my baby blue Wachovia card 2 months ago. It was the best feeling ever. Looking back, I don’t miss it one bit.

You see, I used that card as a “crutch.” When I couldn’t afford something at that moment, I would swipe it and always say “Oh it will get paid off.” In reality, the debt and interest just kept building on itself and before I knew it, I was in $1,000 or so of debt in just a blink of an eye. Perhaps you know the feeling.

Dave Ramsey inspired me to cut my card up. I did even before it was paid off and the temptation to swipe no longer exists. I buy only what I have in my account- in cash mainly. Sometimes on our debit card. My husband’s credit card will be paid off this weekend and we will be credit card debt free. We still have student loans and a car payment to go, but we are on our way to being debt free.

I can sum up credit cards in one word: bondage. Just like all debt.

 

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3 Comments leave one →
  1. Anna permalink
    April 16, 2008 5:51 pm

    First of all… congratulations on the BABY! What wonderful news. More relevant to your financial discussions, I heard on the radio (89.7 Power FM) that either this or last year was the first time since the Great Depression that Americans SPENT more than they MADE. I don’t have the source to back it up, but it’s a really sobering thought.

  2. April 29, 2008 11:30 pm

    i know what you mean. i gave my credit card to my mom to hold for me, but i need to cut it up. it would help me reevaluate needs vs. wants.

  3. April 30, 2008 1:47 pm

    Sean,
    That’s so wise of you and admirable. Many people have a hard time just letting it go. You are so right when you say it’s about needs vs. wants. For me, I always used it for wants instead of needs. We really are thankful we are credit card debt free and we owe it to the Lord for helping us. Looking back, I really can’t believe what I was thinking- probably discouraged that there was nothing in savings to fall back on. Keep up the good work.

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