No Credit, Only Cash Purchases
No Credit, Only Cash Purchases
In spite of appearances to the contrary, there is often a silver lining to every cloud. Over the past decade or two, that has occurred to me. I discovered that I could not use credit and had to stick to paying with cash.
To say that I had a hard patch in my life around ten years ago would be a huge understatement. I had to declare bankruptcy after going through a divorce, losing my house and business, having my car repossessed, and losing my job. Not pleasant at all; in retrospect, I do not know how I managed.
Although it was a major hassle, the fact that I could only buy with cash after everything happened turned out to be a blessing in disguise. There are a lot of factors contributing to that, including the fact that I was completely debt-free and had mastered the art of saving up for necessities rather than using my credit card. Other things, though, I picked up as well.
Other things I discovered that were really useful to me in the end are as follows:
1. I mastered the art of shopping. I learned to shop differently and endure long wait times for things I wanted—and sometimes even for things I actually needed—because I did not have credit.
I began to shop at thrift stores, garage sales, and even Good Will rather than the neighborhood department store or big box store. I was embarrassed and felt like a failure at first, but then I recognized I was really rather well-positioned.
You can actually haggle with them if you pay with cash, which is something I discovered. Indeed, it is rather common to be able to confidently state, "I have this amount of cash on hand and I will purchase this product at this price right now," even when shopping at major stores for expensive items. A lot of the time, especially when it was a locally owned store, they would gladly accept my discounted price.
They get all of their money today with a cash deal. Financing and receiving their money over an extended period of time is not an issue for them. Plus, they will not have to fret over the possibility of my loan defaulting on them. There and then, they have their cash on hand.
3. Recognizing that I was the only owner of all I own brought me immense serenity, even when my resources were limited. My automobiles and possessions were not at risk of repossession in the event that I were to lose my employment because I owned them all outright.
4. And the item that caught everyone by surprise? I was able to get back on my feet financially and am now fairly affluent; however, my money went a lot farther than average since I retained all that information about how to acquire the things I desired and needed for a fraction of the price that most people wind up spending.
If I had known how to buy more efficiently, I could maintain a comfortable lifestyle while getting far more value for my money. Because I was able to get by with such little funds, I was able to pay off all of my debt, buy everything I needed, and still have plenty of savings when I finally had more disposable income.
How awesome is that? I did not have to do everything by hand; you can do the same thing. Get a feel for your financial situation a year from now by utilizing these strategies for cash-only purchases with no credit. It will astound you!
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