We pay off our credit card every month, haven't carrried a balance in a few years, which has been a huge deal. But we are working toward doing more with envelope systems, especially for groceries/dining and it's been amazing how differently I am thinking about money now that it's not just swiping a card that I'll "pay off" at the end of the month, versus really being accountable for the money right then. I consider myself a pretty frugal (maybe even somewhat stingy/miserly person) but have really been amazed at how much I might spend here and there, maybe even justify as a "need" when I'm swiping a card without much thought (even if we pay it off every month!). We really do spend more when we use a credit card versus cash or a debit card--using money you actually have right that second, not something you'll reconcile with later. Interesting. I really liked this thought from a favorite blog I follow:
"We aren’t 'behind.' We belonged to the school of thought that said credit cards were okay as long as you paid if off each month. Well, that is still debt! We were always a month behind. Instead of the paycheck going toward’s tomorrow, it was paying for yesterday. I’d rather pay it forward than backward."
This really made me think. I like the direction we're going. I really do feel more in control telling our money where it's going rather than reconciling with the credit card balance at the end of the month--even if we never carried a balance. I think we'll be much more accountable, responsible and spend less this way. Ah, freedom and control.
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