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Credit Cards
My husband and I had to cut up all of our credit cards. The only remaining card is for a mechanic shop, to be used in case of emergency should any unforeseen repair be required for our vehicles. We even took the extra measure of getting the credit card in my name, to prevent any temptation on the part of my husband. When we first got married, we got into some serious financial difficulties that we like to blame on our credit cards.

Every credit card company and it's brother was banging down our door begging us to apply. We were both young, with full-time jobs, just starting out in our life. We wanted our new apartment to be perfect with all the latest gadgets and accessories that are marketed specifically to the unsuspecting and newly married. Before we knew it, our place was full of the greatest stuff, and the balances on our many credit cards were through the roof. We ended up having to get a loan to consolidate our payments and that was the end of credit card spending in our family. I don't know what it is. We're both reasonably intelligent, but hand us a couple of credit cards and somehow we forget that this isn't free money! We have to pay it back sooner or later. And credit comes with a heft price tag: interest. We've now been married for twelve years. I'd like to think we've learned a thing or two over the years. We've toyed with the idea of getting a credit card for emergency purposes only.

Strangely enough, this sort of idea generally strikes when we are running a little low on cash flow. Thankfully, so far, we've maintained our wits about us, and been able to resist the temptation of a little credit card spending. Based on our past experiences, I think this was a very wise choice! Sometimes it's hard to pass by a great sale when we don't have the cash on hand, however, after learning a very difficult lesson early on, my husband and I are thankful that our addiction to credit cards was nipped in the bud. From time to time, we are asked for credit card information, especially when it comes to online purchases. If the item or service is really needed, we can usually find away around the need for a credit card. It can be somewhat inconvenient to live without a credit card in today's world. In many cases, people are quite frankly shocked to find out we are credit card free. It almost doesn't compute! But that's okay.

For our family the decision to cut up our credit cards likely saved us from major financial problems down the road and forced us to limit our impulse buying, saving us money in the end.