SirLance

Here's one way to do that:

Whenever I use a credit card (which I do for many things, so I can get the reward points and maintain a good credit score) enter it into your checkbook and deduct it from your balance AS IF IT WERE AN ATM TRANSACTION. When the bill comes, you will have the cash to pay it.

It takes some discipline to do this (and not spend out from under yourself). The result is, you have credit cards, they are paid off each month, and by paying them off as soon as the statement comes in (well before the due date) you will improve your credit score substantially.

If you can't afford to pay cash, do without or find a better way to fund it. Challenge spending: You need a place to live, maybe a car, food, light/heat, etc. You do not need an Armani suit. You do not need a stereo receiver. IF you can buy them, good for you, but don't fucking finance them at 18% interest.

The only things worth paying over time for are those things that increase in value, like houses. Cars depreciate. Stereos depeciate. Clothes depreciate.

If you have a car, you probably have a car payment, but if you get RELIGIOUS about maintenance, you will eventually have a paid off car that will be in good mechanical condition and you can bank the car payment until you have enough bread to buy the next one, or make a huge downpayment on it. A new engine might cost $4,000. A new tranny might cost $2,500. A new car costs $20,000+. Do the math.

I have a paid off car in great condition with 127k miles. I can reasonably expect to put another 70k miles on it. Maybe more. By banking the $400/month car payment, I now have enough cash to buy a new engine and a new tranny, if and when I ever need them. I doubt I will buy a new car. I might have the seats reupholstered, and the convertible top needs work, but I have the CASH to pay for it.

I also make checkbook reservations every payday with other fixed expenses. Car insurance comes every 6 months, and I get paid twice a month, so each payday I deduct 1/12 of the car insurance bill from my checking account balance. Also, 1/2 of each house payment, 1/2 of the approximate utility bills, etc.

Basically, I am reserving cash to pay fixed expenses. Anything I have left over, I put some in savings and/or I buy something I want (concert tickets, etc.)

You'll be suprised at how easy it is to simply reserve the cash and how much your stress level goes down when the bills come in.

__________________
DEMOCRACY is where your vote counts, FEUDALISM is where your count votes.