For several people the credit card has become an integral part of their lives. Credit cards have become so important in our lives that most of us can`t even think what will happen to us if we have to live without putting it to use. It has become a trend to carry a credit card and many people think that they should be having one credit card, even without thinking the pros and cons of it.
But this is not the total picture as there are several people who are taking oats not to use credit card and they firmly believe that they very well can do without one. It is not impossible to live only on cash if one can etch out a proper budget, thinking logically. Before taking this step one needs to sit and rationally think about its pros and cons. few points are discussed for achieving this goal.
Provision for emergencies is something one just can`t afford to overlook if one is not using a credit card. A person ought to have some means to deal with emergencies when he or she is not using credit cards. One needs to stash away funds for maintaining his or her home or repairing cars.
One has to be ready to address any unforeseen situation and for that one needs to go for savings account which gives high yields and thus the person`s fund can be built up. The bottom line is, one has to have a saving which can be accessed easily if the person wants to lead a credit card free life.
Another thing one has to take into account is one`s income, if one decides to live life devoid of the plastic piece. A man gets into debt when he spends more than what he earns so it is of utmost importance to calculate expenses and see to it that expenses are less than the income. In such cases there will be a surplus and that amount can be deposited in the savings account which can come handy in the future. One needs to give up the habit of compulsive buying to save if credit card free life is desired
One other thing that needs to be remembered if one wants a credit card free life is that a change in attitude and thinking must step in life. One needs to think that living life without credit card can gain one, interests. One without a credit card can venture farther with the income and as a result can deposit more money in the investment or savings account. Mostly it is an all win situation.