Young Americans are ditching credit cards
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June 18, 2013 4:34 pm at 4:34 pm #544860
This may be tremendous ignorance on my part. Growing up in rural KY, no one had CCs there. And I definitely learned a great deal of that culture’s debt phobia. As a young, urban dwelling adult, that attitude doesn’t work quite as easily.
No kidding, I used to work at a store at the Florence Y’all, and we took in so much cash that we had a huge deposit every day even though we were paying out tons to customers for their old stuff. People would come up 75 and the AA to spend. I moved up here and started a store of my own and it took weeks to even get close to being worth the effort to deposit cash since plastic is so much more popular up here.June 18, 2013 4:35 pm at 4:35 pm #544861
It appears it is still easy for college students to get credit. Are they a special case?
Credit card debt can harm college students
By Gordon Putman
Thu, 12/27/2012 – 10:04p
College students are running up an alarmingly large amount of credit card debt these days and it is only increasing with the passage of time. The average undergraduate student carries $2,500 in credit card debt, and when they graduate from college they begin their new lives with debt that they can’t pay.
Unless 100% of Americans from the age of 18-24 go to college… then yes. I would say they are a special case.June 18, 2013 4:37 pm at 4:37 pm #544862
I’m relatively debt-averse myself, but the convenience and other services make it worth it, especially when you’re paying it off every month. (Also, to be truly technical, I don’t think it’s even “debt” in the accounting sense of the word if you pay it off every month. It’s just an “account.” Though someone with more formal accounting training might want to check that, if anyone cares.)
Yeah, it’s basically and Account Payable (sort of like when a vendor sends you stuff on a net 30 basis) until interest starts to accrue. Then it’s debt.June 21, 2013 9:31 pm at 9:31 pm #544863
Good evening everyone. This is a topic I wish I would have started years ago to help people understand that we are able to control our finances without the use of credit cards and becoming more understanding of how to control our finances and not let them control us. I could go on and on about my past with my finances with the debt and the credit cards that lead me out of control but I am here to tell you that there is a life that can be had without credit cards and you controlling your money. Myself and my girlfriend took a class that is taught by Dave Ramsey called Financial Peace University that cost $95 (which is so worth the money for the class) and it is a 9 week course that teaches you how to create pay off all of your debt, put yourself on a TRUE monthly budget, create money envelopes that houses all of your monthly budgets such as Entertainment, Gas, Shopping and so much more. It teaches you to create an emergency fund and has a true 9 step process to help you live a financial free life. I could write a book about this but I’m not going to do that. You do not need a credit card to live financially in your life and it will teach you to use cash all the time and to not even use your debit card. I can honestly say that the stuff I learned earlier this year from this class, if I would have applied the teaching to when I was younger and dumb with my cards, I could have been ahead of the game but it is better late than never. The website is http://www.daveramsey.com and he has a show on “I heart radio”. All the cashback money/points will never compared to being financially free from credit cards. If there is anything that you can take away from my response to this topic, please take the time to look at the website and please take the time to locate the next time/location of the class here in Columbus and GO!! As Dave Ramsey always says…”Live like no one else now so later in life You can live like no one else”….think about that quote and apply to your life…NOW!!!
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