We’re midway through the month, which means it’s time to check in on our progress for the no credit card challenge.
When I first announced this challenge, a lot of you responded with cries along the lines of “Why would I pass up the points?”
And I didn’t really care about that. Go get your points if you want them. I had no qualms about giving up my rewards for a month.
But I also heard you saying, “But credit cards offer so many more protections than debit cards! This isn’t safe!” It’s true: if you’re a victim of fraud of theft, it’s easier to recoup credit card loses than debit funds.
If you have an aversion to debt and vehicles for accruing it (ahem…me), then not charging purchases for a month sounds like a great idea! But with those noted credit protections in mind, I’ve found that my no-credit experiment has really been an exercise in using more cash.
Let’s look at the details of my experiment at the halfway point:
On the first day, I failed. I didn’t take my usual credit card out of my wallet, and mindlessly handed it over to pay for doughnuts in the morning and a bar tab at night. What a Saturday! I realized my mistake immediately after making each purchase, and promised to do better.
A few days later, I charged a plane ticket. No guilt there.
I decided to pay for a bigger online purchase with PayPal instead of resorting to my credit card, since the retailer offered the option.
One last moment that stuck with me: I decided to pull into a gas station to fill up, and gazing upon the payment pad at the pump made me second-guess my choice. Instead of swiping a card of any kind, I went inside and handed the cashier $10 to top off a few gallons. I’ll take all my personal data elsewhere, thank you…Read More>>