In the short term you might win. In the long haul, usually the banks do. But don’t believe me, look at most of the tallest building in the world (they’re banks). Not to mention the fact that, I don’t EVER want anyone going through what I had. Keep on rockin Mike! And when you get a chance, check out http://www.daveramsey.com – he’ll be able to answer any other questions on this you might have.

I guess I’m a pretty frugal purchaser anyway. I’m not a big fan of buying stuff, and I’m sure my method probably wouldn’t work for everyone.

Although it is nice to see that credit card bill at the end of the year and see that Visa owes you money!

But I agree, carrying cash would be the easiest method to spend less.

Thanks for checking out the blog and commenting. You have an interesting point.

I’m honestly not sure what to say about that method your using. I think it’s great to pay that off, but why not just use cash? And what about those times that you lose your job or are short one month… what do you do then? When you pay cash, it’s already bought – then you can lose your job and no matter what happens… whatever you bought is AND always will be yours.

This is what happened with the housing problem in the US. People thought, “Oh I can afford it.” Sure, they could, they had a job. Then they lost their job and couldn’t afford it – they weren’t prepared (using a similar philosophy). See what I mean?

I’m on your side Mike – the banks are not!

Know what I mean?

I did something a bit different in my life. As friends around me were getting credit cards in our teenage days, I forced myself to wait until I was well into my 20s. This allowed me to really understand the system and get a feel for how it worked.

When I figured out I could get credit cards that pay 1 or 2 percent cash back, I went out and got one and made sure to only buy things when I had the cash in my bank account.

This way I’ve was able to actually make some money by using my credit cards.

A warning though, you need some strong will power to pull this method off.

It’s been about 6 years later and I’ve never paid a dime of interest.