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We can’t really live or give at our full potential unless we stop borrowing more money and eliminate debt. One of the first things we have to do to pay off debt is to stop borrowing more money. That means weaning our dependency away from credit cards and using cash or debit.
This episode covers Step #2:
Delete your credit card numbers from all online accounts. Some cool side effects of this exercise: You may find some accounts you no longer need (magazine subscriptions) or you may re-visit some contracts (revise your cell-phone plan or cable subscriptions).
Substitution or Solution: Use your bank’s free online BillPay to pay for online purchases. Also, attempt to purchase things locally for at least 1 month instead of online, only using Debit when absolutely necessary.
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Jen McDonough says
June 7, 2011 at 7:13 pmLoved your podcast Steve. I had forgotten when I listened to your podcast about how “scray” it was for us NOT to have a credit card. Looking back, it is hard to imagine feeling that way compared to how we live now. Now the thought of using one is absolutely foreign to us.
For those still using a credit card, it is can be hard to imagine not having one….probably a lot of “what if this or that goes wrong, what will I do?”, etc. you may be thinking, however, once you break that habit of using and carrying them around, it is very freeing. One’s visa cash card does the same thing as a credit card does, except that it wouldn’t get you in debt.
Good luck and many blessings.
Jen