I've been a credit card user for years. Never once paid interest, always paid off in full, always thought I was beating the system because I earn cash back on it. So, it's pay off time and I've earned $77 from my Costco AmEx and about $100 in WF rewards. That's it! That seems like nothing!
I'm going to give Dave Ramsey complete rights to say- 'I told ya so.' Yeah, we haven't been caught yet in debts, but the statistics show that we spend 12-18% when you use credit than cash. So, I've been spending an eighth more than I normally would, just to get $100 back over one year. Maybe those numbers are totally made up, but I agree, I spend more when I use my card when when I see cash go out of my wallet. Peter and I are going to try doing the cash/envelope thing for April. Katie Sabin, aren't you trying it now? How's it going for you?
A good quick audio clip from Dave Ramsey that talks more about this. And thanks to the Bell family for introducing me to Ramsey.
I hope this isn't too personal of information to be putting on my blog-ito. I'm just laughing at myself for thinking I was smarter than 'the man' and am posting this to make it more official so I stick to it.
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