Over the past few weeks, there has been discussion in our household concerning credit cards. I will be 100% honest in saying, we do not have one single credit card (other than various store charge cards, i.e. New York & Company, Pier 1 Imports, etc.) but as far as a major credit card, not the first one. I will definitely say, there is a reason. I have read two of Dave Ramsey’s Financial Peace books and HIGHLY recommend them as they are the reason that I have as little debt right now as I do.
I have never felt disciplined enough to own a major credit card (am I really 30??) but my eyes have been opened to a new idea (so sorry Dave Ramsey) of charging everyday purchases in order to receive cash back or rewards for other things such as gas, airline tickets, etc. There are so many options for great credit cards out there with no annual fees and various point systems and if I can be disciplined enough to just treat a credit card as I do my debit card and then pay the credit card off each month, this would potentially be a win-win situation!
The problem that I have is organization. I keep all my debit card receipts in a certain pocket of my wallet and each day I record them so I know I will not overdraw my account. Will this work the same way with a credit card? Do I need to come up with some other sort of system to hold myself accountable and not live beyond what I can pay each month?
I would love feedback!
Do you own a credit card? Do you use it for everyday purchases or is it for emergency purposes only?