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Goodbye for Now – Des Moines Register

Posted by Mike on 22nd June 2012

Recently, The Des Moines Register changed to a subscription model. They had a countdown for a certain number of free articles, and then you get this:

The digital subscription is $10 a month.  In my opinion, it’s not worth it.  I used to visit this site almost every day for news. Not any more.

 

 

Posted in finances, General | No Comments »

Credit Card Freedom

Posted by Mike on 15th September 2010

Last month, I closed all my credit card accounts.  I sent the following email to a friend of mine.

I’M COMPLETELY FREE OF CREDIT CARDS!

I have not a one to my name or business.

It was fun calling them all and closing the accounts.  They all wanted to know why. My reasons, when I shared them, totally baffled them!

He replied with the following:

THIS IS FANTASTIC!!!!   You are now in the 15% of households with no credit cards. Ironically, as recently as 1970 only 15% of households had a credit card.  What a run it has been for the banks but a disaster for most families.  Keep up the good work!!

I used to think that having credit cards and paying them off each month was OK.  My friend tried to convince me that having credit cards would increase my spending and limit my ability to control my spending.  At the time, I didn’t agree with him.  However, when I decided to leave my corporate job, I needed to cut my spending in half.  That was when it really hit me.

It always surprised me when my credit card bill arrived, how it was always bigger than I expected. I was always able to pay it off, but it was a disappointment to do so and have to miss some other goal I had set with my money. Now that my credit cards are gone and all the bills paid off, it is a wonderful feeling to not receive those bills every month.

I will admit that it has been an adjustment to not just put it on my credit card when I needed or wanted to buy something.  It takes more planning and discipline to manage the budget this way.  But, isn’t that what I am trying to do?  I will also say that I am getting pretty close to cutting my spending in half from what I used to spend.  Pretty amazing, huh? Maybe it is true what I have heard, that you will spend 40% more with credit cards than without.

Posted in finances, Freedom, Life Lessons | No Comments »