I'm a little nervous to make this transition but I have family to back me in case of an emergency while I build savings. I told a few people and their first reaction was to tell me that closing out all credit cards will hurt my credit score. Well guess what, I dont care about my credit score anymore (which by the way is/was in the low to mid 700's). Its nothing but a trap which I think everyone is aware of at this point. The more accounts you have open, but not maxed, the higher your credit score. The more accounts you have open, the more likely you are to use them and fall in over your head. Its just human nature.
The reason I closed the credit card was, I found myself spending on the card between pay periods at my job, and then the night before pay day, losing sleep trying to crunch numbers in my head.
Questions like, how much do I owe on the card? which bill should I pay first? what if I pay half the bill now, half later? Do I really need to pay off the card this month? Before you know its 4am and I havent slept a wink. I find that payday is the most stressful 2 days of the month and it should not be this way. Payday should be time for enjoyment not stress.
No longer however. Purchases will come from savings. If I come into an unfortunate circumstance, I already spoke to my family and they promised to loan me whatever needed so that no dealings with a bank will be required from here on out.
The banks can all wallow in the filth theyve created. I'm one step closer to leaving the system.