Wow, this is very interesting stuff. My fiance and I run a small business. Our business in luxury and not necessity so, it is the first to go when people have to cut cost, so we are no stranger to struggle sometimes. I wish i knew this sooner. I like the debit card rule. We don’t like knowing we owe money. for us it’s the worst feeling. Thanks for this information, After reading this I understand better!

    • Daddy Poorbucks

      Shelley, thank you for your comments. I have a relative who also ran a luxury goods business, and yes, with the exception of the very wealthy, he also suffered in sales with any downturns as those items are the first to go as you said. Hopefully things pick up soon!

      As for learning to love your debit card, it’s the best advice on a basic living within your means level that I can give. Psychologically, it has helped me feel stronger and lessen financial anxiety. And financially, it has helped me curb spending – significantly. I don’t spend nearly as freely as I once did as I know I’m paying for it and I need the money for housing, my kid’s braces and other more important items.

      If you do find yourself in a credit card crunch, personal loans can help if the amount being financed would take a good amount of time to pay back. It’s not so much that you are paying off debt, but rather, you are moving debt to pay it off by a date certain while building credit. We can help with that here as well on our Personal LoansPersonal Loans page.


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