The Question: Is a credit-free (cash-and-carry only) lifestyle possible for you?

My 2 Cents: First of all “cash-and-carry” is a term that means you’re not carrying balances on credit card or loan accounts to finance your lifestyle. It doesn’t literally mean you’re pulling bills out of your pocket to pay for purchases. I would even go so far as to say, and any finance people can correct me if I’m wrong, that you’re living a “cash-and-carry” lifestyle if you’re using credit cards but paying off the balances when you get the bills and not paying any interest on the amounts. @ManofCivility mentioned using credit cards for rewards programs, which is a good thing, as long as we’re paying off the balances each month and not accruing interest. If we’re accruing and paying interest each month to amass those user rewards, we’re actually paying for what we believe is free. Not cool.

I would assert that debit card purchases also count as “cash-and-carry,” since you’re pulling money from a bank account, even though you’re using the credit card system. Since there’s no bill coming at the end of the month, then it’s not considered a loan or credit card account.

Yes, you must have some established credit to make bigger purchases, like a home, but it is possible to live a consumer credit-free lifestyle. It’s been almost three years since I used a credit card, and I can’t really say I’ve done without anything I really want or need. I have about six debit cards–bank accounts and PayPal accounts–and I rarely carry actual cash anywhere. For me, having actual bills in my pocket means I’ll lose track of what I purchase with it. A debit card allows me to get a statement at the end of each month so I can see exactly where every penny has gone.

What has significantly decreased, besides my credit card balances, is the amount of mail I receive on a weekly basis. I wonder if there is some connection between credit-card purchases and the amount of junk mail we receive; magazines, brochures, flyers, etc. The reason I’m curious is because since I stopped using my credit cards, my mail has dwindled to almost nothing. I noticed it, because I have been accustomed to receiving tons of unwanted mail, and this doesn’t happen anymore, even though I use several debit cards. Hm. I wonder.

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Take a few moments to check out the tweets from Twitter on this subject:

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patriciarose outside of a mortgage not only possible, doing it for 10+ years now

MissLeggz no…gotta luv a debit card

VWBCOG Yes, a cash and carry lifestyle is possible for me. I have always lived below my means which has helped me to survive rough times.

Sojourner4Truth Absolutely. I live a complete cash-n-carry lifestyle. Hard at first but love it now. transformed my life!

PROTECTED TWEETER not possible…almost everywhere allows the use of a card for debit/credit…makes transactions faster and shopping more fun…plus cash-and-carry makes one a bigger target 4 theft..the more money people see you with, the more they think you go it.

In_Prayer Yes! I’m debt-free:)

PROTECTED TWEETER Yes,I’ve been credit card free for the past three years.if I can’t afford it I don’t buy it!

acmeek Actually been living this way for the last 10 yrs. Not easy. I sacrifice a lot but I think it’s made me more disciplined.

jtvstacia yes! That’s how I roll!

aaronhalford Yes, I live w/in my means. If i can’t buy an item outright, I simply won’t buy it at all. Credit is only used for online buys.

PROTECTED TWEETER I live it now, somewhat

mommadona yes/pd off creditcards 8 yrs ago-nvr looked back-best for older couples/less capital expenses

rugger_lav Must have credit otherwise I would not have credit history required 4 property purchase. But I do opt for no non-capital debt.

Juicyfruit4u doing that 5yrs now

Speaklife2 I have credit, but thank God, that I am able to buy the things that I want with cash. Still, my life isn’t real extravagant.

Piddlepro it will be. working on it..

rishaholmesYes, but u got 2 have a lil credit

PROTECTED TWEETER Yes, have all that I need. What I don’t have, I pay cash for.

treschic67If we ALL lived a Cash&Carry Life, it would eliminate most of the Country’s Debt.Can’t afford 2 paycash, dont buy it!

jluntzreport no it is not, cause I would not be able to drive a decent modern car if i had to buy it cash.

XPhile1908 only to a certain extent. Couldn’t pay cash for a house.

LilMrsPerfect2u Yes yes yes, I’ve lived this way since entering adulthood (I’m absolutely against credit cards)!!!!!

ArunBasilLalI dont think it is possible for me, You never know when your dream item comes up in a shop

ManofCivility possible, but not practical. I earn money/points/rewards/flights/etc. for using my cards.

Write_Of_Fusion Not in my lifetime LOL

coffeesassy I think its possible. Cash and carry is possible and would fit into my lifestyle.

DerekIsNormal Oh no! I LOVE shopping online so I need the plastics in my life! LOL

sunshine625 Most days yes.

IamRah Anything is possible but I wouldn’t prefer it…

PROTECTED TWEETER HA! No.

Pettra88 Yes…cash and carry is all I have.

Data_Diva old enuf 2 rember when it was

MusingMom Yes….I could do cash only….as long as it is a lot of cash…Smile…

BLKMGK not at this time

fucalladatNoppppe lol

MissB007 I try to at least 90% of the time so I’m still working on it…Well I am trying. Enjoyed the question, because it’s got me thinking about needs and wants a little more.

DiamondEmory Absolutely possible! On my way to being debt free, have no credit cards and use my Dave Ramsey cash envelop system

writethevision Yup. We’re living one now.

Reads4Pleasure It’s possible and I’m living it right now!

_kimford_ I’ve done it before & I’m doing it again. It is harder to rent cars & book hotel but not impossible.

walkerdl That’s how I live now

pegaitaI don’t knwo if it is but I sure need to try it!

xsashagirlI am struggling to make a cash & carry lifestyle the norm. Amex is the only card I use now becuz you have to pay in full always

lisafordblog I’m doing it now:-)

md20737this is not ok if you ever want to own a home.. but other than that.. its ideal.. ppl have done it for years..

Hadji4ever It’s not possible 4 me because I tend 2 order just about everything online. I can even order my groceries online.

NightShade10 sure, did it for years not that hard to do. We live beyond our means by 100 dollars a month, which is nothing paid back monthly

tclarkusa Yes. 3 yrs. credit card free. Amen! Makes weathering economic storms easier when 1 can manage $ & not other way around.

Quintessence_T that’s all i do–i don’t own one credit card

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The commentary doesn’t have to end!

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