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Listening to talk radio the other day when I heard an ad that shocked me. It went something like this, “buy our widget today and pay for it next month” I’m sure there have been plenty of ads on the radio and tv that are similar, but this one stuck with me. So I did a quick Google search for “buy now and pay later” and within half a second I was assaulted with 237,000,000 results. Unbelievable.

Here’s my problem with the ad, “buy” now and pay later. Logic tells me if I buy now I am paying now, right? When did we get to a place in society where these two things are separate? Not everyone in America approaches purchases with the pay later mentality, in fact, 28% of Americans don’t use a credit card. Recently my family and I joined the 28% and though we didn’t have any credit card debt, cutting up the cards has helped us save, and with two little girls and a baby on the way, we need to.

A Simple Way to Lower Your Credit Card Debt

Here’s a challenge, take out your latest credit card statement, I’ll wait…. look at your purchases and select 5-10 on the statement you could go without. Go ahead and write these in your LifeMap notes, not look at the list again. Are any of these unnecessary purchases habitual? If you do this every month for the next several month I guarantee your credit card bill will go down. But what I really recommend is that you cut up the card right now and pay with debit or cash only.

If you have a large debt, cut up the card anyway and payoff the debt as fast as you can and don’t use a credit card again. I know you get points, you can get points on a debit card too. And you’ll end up saving more money than you could earn in points if you kept the card anyway.

Do you have one minute to take the credit card debt poll? All answers will remain anonymous. When you are done, tell us about your money saving tips.

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