Money Saving Tip: Use Only Cash
It seems impossible to exclusively use cash in today’s credit-oriented world, but those who do “create” significant cash. How? By spending dramatically less. Ron Blue, author of Master Your Money, notes that the mere use of credit cards causes a family to spend 34 percent more even if the statement is paid off monthly. Author Nancy Dunnan agrees in Never Call Your Broker on Monday by noting, “People like your parents or grandparents actually went through life using checks or cash. It worked then and it works now. Do the same and you’ll wind up spending 20% to 45% less.”
So use cash and reap a windfall. Imagine how spending one-third less could impact your family finances!
The concept of buy now and pay later is too entrenched into our minds.
We have to quickly do something against it and start saving to acquire the things we need.
Otherwise, our hard earning will belong to the banks in the way of interests.
However... That is why I invest in banks. If you can't convince them of saving and investing, at least profit from them spending a lot on credit cards.
An article on bank investing:
http://aneshome.com/pivot/entry.php?id=121
Posted by: Jose | July 05, 2005 at 12:53 PM