My final blog ON a CASH ONLY LIFE STYLE for 2019
Hello so for a long while my family has been doing the very best and closest life we could to live a CASH LIFESTYLE.
When I say a cash life I mean no loans, no debts, and no credit.
My family obtained from all of this for nearly 2 years until one of our main vehicles broke down beyond repair. Though we had saved some money we could not find a decent car in our price range.
We broke down and financed a used car and today it is nearly paid off.
This has been our only line of credit for nearly 5 years.
In my experience living a cash life style is a lot harder than most people believe.
Most people don't have cash for a car purchase, a home, and most people don't even have more than a month of savings or retirement.
Credit is a major part of our society and having no credit or bad credit can really harm you in more ways than you may think. The minute you try to buy a home, a car, or even go get cable, electric, gas, or some other bills may require a credit report or some type of credit.
Also one thing I learned is you still must use a debit card because going to the bank or carrying cash all the time is frustrating. Many companies do not take cash payments as well. I ran into many times where even major stores like Wal Mart had not been talking cash in the self serve machines.
They say CASH IS KING.
Some ways you can improve your credit and stay in a cash world is a secured credit card.
This is a type of account where you put money in an account and the bank issues a credit card for the amount of the deposit. The bad thing is you pay interest and make payments, but the good news is the company and bank will report your history to the credit agencies. If you keep the card in good standing and make payments your credit score will improve.
Other ways to save money is a stock account I strongly recommend a company called STASH.
This is a company that allows you to invest in the stock accounts and as little as 5 dollars investment at a time, they also offer a debit or credit card.
if you want to look into a stash account click here: STASH
Another way to stay in a cash world and keep your credit up is use your bank a secured loan, though technically this is considered credit it is your money.
Some banks offer CDS that you can borrow against, or offer secure loans.
The main thing if your going to live in a CASH ONLY world is that you have to realize that credit is still important. I would check all your credit scores. By law you can get 1 free credit score per year. The three main credit companies are Trans Union, Equifax, and Experian.
I also personally like Credit Karma.
As I mentioned above store some saving from your pay, think IRA retirement, or just an emergency fund. Make this money a little harder to access but available if needed.
Also it may amaze you what you save, a change jar where as you toss all your change into ot adds up after a while. Well I personally have pushed the limits of a cash lifestyle I also realize I will have to use credit to purchase a home. This is where I am at in my life.
I have spent the last 5 years maintaining my credit and living off the grid as far as loans, credit cards, or other types of credit. I personally did not choose a secured card or loan from the bank. The only loan or credit I did was with my car loan. In a few months I plan to pay that off and the only other credit or loan I want to have is my house loan.
I will tell you this if you dare to try a cash lifestyle here is my challenge for 7 days. You can use a debit card but not a credit card. The debit card has to be linked directly to your checking or savings account. In this experiment you can only use cash or your debit card for one week.
Keep track of your daily spending, gas, food, other misc expenses. See what you spend your money on. Where can you cut corners or what can you live without.
Try to pay a bill with cash it may surprise you some companies say that they can not take a cash payment.
After the 7 days decide if you want to continue the cash experiment and go to 14 or even 30 days.
I am just going to flat out tell you it is not as simple as 1-2-3.
I am constantly checking my bank account, making sure I have money for my bills, and living expenses. I have become aware of my spending habits, and yes sometimes I go without something or an extra treat to save just a little.
I read some other blogs on how people became wealthy, well they often go to some extreme savings measures, unless your lucky to have a rich relative, win the lottery, or make a million bucks gambling on something.
The truth is according to research not done by me there is only 2,604 billionaires in the world, and over 14 million millionaires for a world population of 7.7 billion humans as of April 2019.
The math points to most humans are not going to be rich with money.
Another scary factor is most countries are in debt as well take the USA currently we sit at 22 Trillion Dollars in Debt. Some other counties are far worse off as they have finally collapsed.
Anyways I hope you have enjoyed my blogs.
The Outlaw Micheal Tomsik
When I say a cash life I mean no loans, no debts, and no credit.
My family obtained from all of this for nearly 2 years until one of our main vehicles broke down beyond repair. Though we had saved some money we could not find a decent car in our price range.
We broke down and financed a used car and today it is nearly paid off.
This has been our only line of credit for nearly 5 years.
In my experience living a cash life style is a lot harder than most people believe.
Most people don't have cash for a car purchase, a home, and most people don't even have more than a month of savings or retirement.
Credit is a major part of our society and having no credit or bad credit can really harm you in more ways than you may think. The minute you try to buy a home, a car, or even go get cable, electric, gas, or some other bills may require a credit report or some type of credit.
Also one thing I learned is you still must use a debit card because going to the bank or carrying cash all the time is frustrating. Many companies do not take cash payments as well. I ran into many times where even major stores like Wal Mart had not been talking cash in the self serve machines.
They say CASH IS KING.
Some ways you can improve your credit and stay in a cash world is a secured credit card.
This is a type of account where you put money in an account and the bank issues a credit card for the amount of the deposit. The bad thing is you pay interest and make payments, but the good news is the company and bank will report your history to the credit agencies. If you keep the card in good standing and make payments your credit score will improve.
Other ways to save money is a stock account I strongly recommend a company called STASH.
This is a company that allows you to invest in the stock accounts and as little as 5 dollars investment at a time, they also offer a debit or credit card.
if you want to look into a stash account click here: STASH
Another way to stay in a cash world and keep your credit up is use your bank a secured loan, though technically this is considered credit it is your money.
Some banks offer CDS that you can borrow against, or offer secure loans.
The main thing if your going to live in a CASH ONLY world is that you have to realize that credit is still important. I would check all your credit scores. By law you can get 1 free credit score per year. The three main credit companies are Trans Union, Equifax, and Experian.
I also personally like Credit Karma.
As I mentioned above store some saving from your pay, think IRA retirement, or just an emergency fund. Make this money a little harder to access but available if needed.
Also it may amaze you what you save, a change jar where as you toss all your change into ot adds up after a while. Well I personally have pushed the limits of a cash lifestyle I also realize I will have to use credit to purchase a home. This is where I am at in my life.
I have spent the last 5 years maintaining my credit and living off the grid as far as loans, credit cards, or other types of credit. I personally did not choose a secured card or loan from the bank. The only loan or credit I did was with my car loan. In a few months I plan to pay that off and the only other credit or loan I want to have is my house loan.
I will tell you this if you dare to try a cash lifestyle here is my challenge for 7 days. You can use a debit card but not a credit card. The debit card has to be linked directly to your checking or savings account. In this experiment you can only use cash or your debit card for one week.
Keep track of your daily spending, gas, food, other misc expenses. See what you spend your money on. Where can you cut corners or what can you live without.
Try to pay a bill with cash it may surprise you some companies say that they can not take a cash payment.
After the 7 days decide if you want to continue the cash experiment and go to 14 or even 30 days.
I am just going to flat out tell you it is not as simple as 1-2-3.
I am constantly checking my bank account, making sure I have money for my bills, and living expenses. I have become aware of my spending habits, and yes sometimes I go without something or an extra treat to save just a little.
I read some other blogs on how people became wealthy, well they often go to some extreme savings measures, unless your lucky to have a rich relative, win the lottery, or make a million bucks gambling on something.
The truth is according to research not done by me there is only 2,604 billionaires in the world, and over 14 million millionaires for a world population of 7.7 billion humans as of April 2019.
The math points to most humans are not going to be rich with money.
Another scary factor is most countries are in debt as well take the USA currently we sit at 22 Trillion Dollars in Debt. Some other counties are far worse off as they have finally collapsed.
Anyways I hope you have enjoyed my blogs.
The Outlaw Micheal Tomsik
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