Why We Stopped Using Credit Cards

But the rewards! Your credit score! How can you manage?! That's a terrible decision!

Almost 4 years ago we cut up our credit cards and never looked back. In this episode we talk about why we said goodbye to our reward points, stopped worrying about our credit score, and started using cash. That decision accelerated us in how we were winning with money; ie, getting our of debt, growing our investments, and being able to give more generously.

This was a big and tough decision for us. Ashley had used a credit card for 12 years before deciding to cut them up and she LOVED it. She was a huge defender of credit card! We paid off our card every month, never carried any debt, and enjoyed the cash rewards. To us, it seemed like a no-brainer. We were beating the credit card companies at their own game.

After almost a full year into starting to enact Dave Ramsey's principles, we finally decided to go all-in and try cash instead of credit cards and it totally changed the way we handle money. We found that we spent less (even though we were being SUPER STRICT!!!), we were able to plan ahead and get our money straight at the beginning of the money rather than cleaning up any messes at the end of the month, and our wealth started growing much faster.

We talk about ways we avoided emergencies, like what if your car breaks down and you don't have the money on hand to pay for it. What happens to your credit score? And why we would possibly want to give up those "free rewards."

Check out Love Your Life Not Theirs by Rachel Cruze. We'd love to hear if you tried out our date night that we recommend - give your partner $1000 monopoly cash and give them a menu of choices that they can spend their money on. Back massage, $300. Charcuterie board, $200. Watching their favorite movie, $150.

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