When talking about decluttering/organizing/simplifying one's life, one doesn't think about their finances. I strongly urge you to get your finances under control. I am not a big credit card spender, at all, and only use it for reasonable big purchases that I can pay off in a year or less.
Credit card companies are in the business to make money, and in that, they are not looking out for your best interests. I had a few credit cards that I had great fixed interest rates on, but because of the "financial crisis" the credit card companies decided to change their end of the deal and increase my rate to a "variable rate". This means if they want to charge you 50% in the future, by golly they can.
What really ticks me off is that I've been a responsible customer, paid everything off, and kept my end of the contract, so why can't they keep their end of theirs (the fixed low rate)?
Because its their money and they can make the rules. Honestly, I am not an ideal credit card customer. I pay off stuff before I get charged interest, and if I do get charged interest its not for a long time. They like the faithful minimum payment people who max out credit cards and spend friviously. So they could care less if they get my business. The reasoning behind why I spend the way I do, is that I am afraid of commitment. That is the same reason why I don't have any tattoos as well. Even cutting my hair too short is too big of a commitment for me. (Its a shocker that I am even married in the first place!) But really, is that purchase in the "now" worth paying off for the next several years? Whatever you choose to buy will go out of style within the next 6-12 months tops, so you are stuck paying interest and principle for an item that isn't even cool anyways.
I value my time and living my life within my own standards. I don't want to be a slave to a credit card, working nonstop trying to keep my head above water so I can have a new coach purse to impress my fair weather friends. I want my time spent with my loved ones, enjoying life and being happy. And being seriously in debt is not a "happy" place to be.
What sent me into this rant was researching home equity loans for some energy saving home repairs. Even now, trying to get a home equity loan is ridiculous. They are charging 10% fixed with a penalty for paying off your loans before 5 years (the lowest time frame). So, being that I am a stubborn person and refuse to be a slave to the credit card companies, I have decided to "thin out" my wallet. I closed all my credit card accounts and left one department card open because I get great deals from them anyways (and never charge more than what I can pay off in 1-2 months time).
Thank GOD I have no outstanding balances. It's liberating. I could not imagine what it would be like if I did have balances and had to pay their effed up interest rates.
So the whole point of this post is to say "Screw them, and their effed up interest rates". Close your accounts. Live within your means. And if you are surrounded by materialistic people who judge you on your clothes, car, etc, they are not worth being in your life. I am sorry, but I enjoy my freedom and refuse to be a voluntary slave to a credit card companies just because of the materialistic society we live in. Don't let the banks be your "pimp" any longer.
Maybe I used some harsh language in the paragraph above. But this is not a joking matter. They took our tax money for bailouts and turned around and raised our interest rates, charging penalties for early pay offs, and annual fees (amongst other charges). So they are finding creative ways to nickle and dime us. Well I am not playing their game anymore, and I hope all the other responsible people do the same.
We are their bread and butter. We are their customers and they need to cater to us. Maybe if enough of us say "We quit. We're not playing your stupid game anymore" that they will start giving us decent rates and quit taking advantage of us.
In the meantime, don't give them your business and practice delayed gratification.
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