Top 6 Reasons Why Using Cash-Only Rocks
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While I am a cash-only person by circumstance (paid off the credit cards and never reopened accounts), I am so grateful that I live in a cash world. Of course, having only cash is not always convenient and does occasionally make it difficult to rent a car — but overall I am so happy to no longer be a slave to the credit card industry and the high interest rates that are overwhelming so many people around the nation.There are also so very good reasons why using only cash is completely logical. Here are my top 6 reasons why using cash-only rocks.
I have had to learn to manage my money.
Back when I had credit cards, I didn't think too much about what I was buying on credit. Of course I was young and not financially intelligent back in those days. Now that I only use cash, I have had to learn how to manage my money down to the penny because I have nothing else to fall back on in the way of credit. If an emergency arises, I need to know I have the cash on hand to deal with it.
I have a true understanding of my needs and my wants.
It has taken some time but I can now walk into a store of any kind and differentiate between the things I really need and those things that I just want. Before I would throw whatever in the cart and figure the credit fairy was there to cover me. Now I take time to pause in the aisle and really think about the necessity of my purchases. I have also encouraged the same kind of thinking in my whole family.
I understand the need to wait on big purchases.
Because I can no longer run out and get anything I want with a swipe of the plastic, I have to wait and save up the cash. This waiting period, highly recommended by many credit experts has really worked for me. In most cases, the stuff I really wanted because a case of out-of-sight/out-of-mind for me after a waiting period.
I have used my creativity for the good.
I have always been crafty but not necessarily frugal. Now, I love creating fun alternatives for usually expensive things, such as family trips, birthday parties and gifts, and other events that I used to pay top dollar for in the past.
I finally do not fear the financial future.
When I was overwhelmed with debt, I hated even thinking about money. Now I am excited that we will soon be debt free after a few more car payments. There are no more credit card bills hanging over my head and I have no desire to qualify for any new accounts.
I am able to follow my dream.
Since I no longer had big debts to fear, I felt confident to follow my dream and become a writer full time. Working for myself has been the fulfillment of one of my biggest dreams and along with financial freedom, I am thrilled to earn a living doing what I want to do each day.
It will not be easy for many to convert from a credit card life to a cash-only existence but it will certainly be beneficial for you in the long run. If you are interested in changing over to a cash-only life, take baby steps away from your credit cards. Start by leaving the plastic at home when you go to the store. Slowly but surely, you too can learn to manage your life on a cash-only basis.
Editorial Note: Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by any card issuer.