How to deal with the credit card debt of a deceased person
December 2, 2017Do I have a debt problem?
February 12, 2018
- Cash feels real
When you have a finite number of bills in your pocket, you can only spend within your parameters. Using your credit card opens up access for spending outside of your present means. Bringing cash to your outings will help you stick to your budget and stay financially sound.
- Cash encourages smart purchases
When you only have a certain allotment of cash, you are forced to make wiser purchases. The extra frills that you wouldn’t think twice about putting on your credit card are now conscious decisions.
- There is no interest on cash
Pay cash, never pay interest. If you pay with credit, expect interest to start collecting at the end of the month. Many people end up with personal debt because the interest on the principle debt is snowballing out of control. Remember, you’ll never pay interest when paying with cash!
- You can’t spend cash that you don’t have
Using cash will help you to justify purchases. If you don’t have enough cash on-hand, then don’t make a purchase (unless absolutely necessary, like food, electricity, rent).
