STOP Using Your Credit Cards: How to get out of Credit Card debt?

In today’s world, convenience and efficiency are highly valued. Everywhere you turn, people are using cards for their purchases, whether it's swiping their credit card at a store or tapping their debit card to buy their morning coffee. However, what many don't realize is that there are hidden costs associated with card usage that can be detrimental to your finances and your overall well-being.

The Hidden Costs Of Card Usage

When you use a card to make a purchase, there are often fees associated with it that you may not be aware of. For example, many credit cards charge an annual fee, which can range from $50 to several hundred dollars.

But the fees don't stop there. Merchants also pay fees when they accept cards, and these fees are often passed on to the consumer in the form of higher prices. 

The psychological impact of using cash

In addition to the hidden costs of card usage, there's also a psychological impact that comes with it. When you use a card, it's easy to lose track of how much you're spending, especially if you're not checking your account balance regularly. This can lead to overspending, which can put you in a precarious financial situation.

On the other hand, when you use cash, you're more aware of how much you're spending. You can physically see how much money you have and how much you're handing over for each purchase. This can help you stay within your budget and avoid overspending.

The benefits of a cash-only lifestyle

While using cash may seem outdated in today's digital age, there are many benefits to a cash-only lifestyle. For one, it can help you save money. When you have to physically hand over cash for a purchase, you're more likely to think twice about whether or not you need that item.

Additionally, a cash-only lifestyle can help you avoid debt. When you use a card, it's easy to spend more than you have, which can lead to high-interest debt. When you use cash, you can only spend what you have, which can help you stay out of debt.

Finally, using cash can also help you build better money habits. When you're physically handing over money for each purchase, you're more aware of how much you're spending and what you're spending it on. This can help you develop better money management skills and make more informed financial decisions.