Cash is a great thing. Bankruptcy lawyers are always telling clients to use it instead of plastic, but most people don’t actually do it.
The reason you should do it is that most people won’t spend as much money if they are actually spending money. Ever wonder why casinos encourage players to use chips instead of currency?
Your mind knows that money is precious, but it gets fooled into thinking a casino chip or a credit card is not.
So it’s easier to spend without thinking, whether it is with credit cards, debit cards, or stored-value gift cards.
So put the plastic away. Every kind of plastic. Put actual currency in your pocket. And watch how much harder it is to actually buy things. And remember — that’s not a bad thing after all!
Now if you’re already deep in the hole with credit cards, and you live in either Massachusetts or New Hampshire, give me a call and I can help you with a bankruptcy filing that will give you a “do over” or fresh start. But since you can’t be filing bankruptcy cases every day of the week, it’s up to you to make the most of the fresh start. Do yourself a favor and get in the habit of operating on a cash basis!
By Doug Beaton