So – how is your challenge coming along? Are you working on sending in those extra payments? Maybe you’ve been lucky enough to even PAY OFF one of your debts! Well, the next step in this challenge is a commitment to NOT allow yourselves to go back to where you were once before – nor be temped to dig out your credit card and go further into debt. That means it is time to dig out your scissors and perform your very own “plastectomy” (as Dave Ramsey calls it).
It know it can be scary to cut up those cards. However, you have done great thus far! If you have your credit cards, the temptation is too great for you to use them. It can be so easy to say – I’ll just charge $20 this week and you are again falling further back into debt.
One family who knows about cutting up credit cards is the “T Family.” They are one of the families who are working with CommunityAmerica Credit Union to become debt free during 2011. I visited with her this past week and she shared this with me,” We are finding there is a real difference between needs and wants. There is always a way to sacrifice more.” I couldn’t agree MORE with this statement! When you use credit cards for purchases, how often is it for a want rather than a need?
I hear people say “but I can’t reserve a room or rental car or anything without a credit card.” Good news! You can use your debit card! I have only ever had one company tell me a debit card would not work and you know what??? I didn’t do business with them! There was another option available to me and they did accept my debit card – so they got my business.
Make sure that you also call the credit card companies and tell them to close the accounts for future purchases. Be careful as many of them will try to talk you out of doing so. Just tell them “I’m doing this because of Dave Ramsey” and many of them will immediately stop the hard sell of keeping your line of credit open. Yes – they KNOW about Dave! LOL!
I know it is scary, but you’ve made the commitment NOT to live with any more debt and one step in achieving that goal is to eliminate accruing more debt. Cutting up your cards is the way to achieve that. Once you do this – you will feel liberated and definitely be on your way to living a debt free life!