No Credit, Only Cash Purchases
No Credit, Only Cash Purchases
I'll be the first to admit that there is a silver lining to every cloud. Something similar occurred to me within the past decade. I discovered that I couldn't 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. My life took a turn for the worst when I went through a divorce, lost my house and business, had my car repossessed, and ultimately had to declare bankruptcy. Not pleasant at all; in retrospect, I don't know how I managed.
Despite the fact that 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. I learnt to save up for things I needed rather than using my credit card, which is just one of many reasons, but another is that I didn't have any outstanding debt. Other things, though, I picked up as well.
Some of the other things I picked up that ended up being really useful to me are:
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 didn't have credit.
I stopped making my regular pilgrimage to the mall and began to shop at thrift stores, yard sales, and even Good Will. Despite my initial humiliation and sense of failure, I eventually came to appreciate my significant advantage.
2. I discovered that you can truly haggle with them when you pay with cash! It is possible to claim "I have this much cash in hand and I will buy this product right now for this price" even when purchasing expensive items at major stores. They would often accept my reduced pricing, especially if it was a locally owned store.
They get all of their money today with a cash deal. They won't have to stress over paying back the loan over several years. Plus, they won't have to fret over the possibility of my loan defaulting on them. They have their cash on hand at that same moment.
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 what was the most surprising thing? Eventually, I was able to get my financial house in order and amassed a considerable fortune; nevertheless, my purchasing power was significantly greater than average since I retained all of the information regarding how to acquire necessities and wants at a fraction of the price that most people pay.
Once I mastered the technique of smart shopping, I could afford a very high level of life while getting far more value for my money. With the little money I had, I was able to accomplish so much that when I did have more, I was able to pay off all of my debt, buy everything I needed, and still have plenty of money leftover!
That is pretty awesome, right? You don't need to repeat my steps to do the same result. 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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