Reply #82: Credit is a "Product" [View All]

I quit "buying" 10 years ago.
A medical bankruptcy forced me into
a cash and carry lifestyle. I learned to save.
Every dollar of interest I no longer had to pay,
the price of every impulse purchase I couldn't make,
the new car depreciation that never happened,
all the nights on the town that didn't show up
on my waistline,
went into the bank (and my daughters college tuition)
When I got laid off last week I offered up a silent
"thank you" to the faceless bean counters who refused to
negotiate and forced me out of the system 10 years ago.
With a little belt tightening I can last 3 years.
Social Security starts in 2.

I understand your situation. I was on the
edge of broke for nearly 30 years. I failed to "keep up".
I could no longer be a "good" (credit worthy) consumer.
I don't have a "do this or do that" answer for your dilemma.
All I can say is that bankruptcy isn't the end of the world
despite what everyone says. That it "ruins" your life is
the "Big Lie" within the credit card con game.
All it really ruins is your ability to live beyond your means
in a consumer culture that's out of control.

Sure you'll have to save more and consume less but it will
reduce your overall carbon footprint. It may force you to plan
ahead and be more thoughtful about what you do buy and when.
It's quite possible you'll eat healthier because meals from
scratch are a hell of a lot cheaper than frozen, processed crap.
You may experience bouts of increased empathy and gratitude when
you encounter people with even less than you. A sense of accomplishment
happens every time you purchase something special that you've saved up 12 or
18 months to get. It's yours, free and clear. No payments to make.
I find I take better care of my toys because they took a while to get.
Best of all though, the next time the sh*t hits the fan, you'll
have something to live on instead of facing a pile of high interest bills.

Didn't mean to turn this into a rant. I'm still adjusting to full time
vacation mode until the economy improves and not having to panic over bills
until it does.
And now, the sun has returned at last and my paid for carbon
fiber bike awaits.