However, if you are paying your balance off each month, and using your card(s) wisely, it can be a very useful financial tool. Essentially, you are flying for free! Of course, you have to be purposeful and pay off your balance each month and to avoid high-interest rates and going into debt. ![]() I know some people who use their cards to rack up airline miles and plan their entire family vacation each year based on these miles. If we used a cash-only system, as advised by Ramsey, we would not have access to those extra bonuses. I have both a Chase and Discover card because of the rewards offered by using them the cashback program is literally free money for what we are spending anyway. Instead, I can research and compare options online and skip the stores. Aside from the grocery store or Wal-Mart, these days, I rarely go shopping. You can even use platforms like Amazon that save your information and a purchase can be made in one-click – talk about a time saver! Plus, I have found myself purchasing online more this year because of COVID. Plus, online purchases are quick and easy as well (although Ramsey does suggest using a debit card for the “limited” purchases you make online.) Credit cards are super simple to use – you don’t have to wait around at the register while you count out your nickels and dimes, and wait for the cashier to count out their nickels and dimes. The ease of payment distances you from the actual money outflow so you don’t feel the “sting” of the purchase. Ok, this is a no-brainer and honestly, this is part of the reason why a cash-based program like Dave Ramsey’s works for so many people. Credit Cards Are More Convenient Than Cash ![]() So I tried it - I really did - but it just didn’t work for me. It’s a great plan I know multiple people who have had success with it and continue to use it long after their debt has been reduced to just an ongoing mortgage payment. Basically, you switch to an all-cash payment system, budget your expenses to the T, and focus on “snow-balling” your debt payments. Most likely, you’ve heard about his show, read his books or even done the Dave Ramsey program. Dave Ramsey is touted as the “get out of debt fast” guru.
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