Friday Financial Tidbit-Credit cards are not evil. It is what you do with them that can get you into trouble.

What’s your view on credit cards? If you ask that question 100 times you will probably get 100 different answers. My friend Matt Wegner recently wrote a great article titled “Can you live debt free and still have credit cards?” I left my thoughts in the comment section and if you have read this blog very often you also know that I do not recommend that people use credit cards.

A common belief about people who are against credit cards is that they think credit cards are evil. Personally, I do not feel that credit cards are evil in and of themselves. It is what you do with them and how they are harmful to your financial health that makes them a bad financial product.

It is the overspending, getting into debt, and the burden of high minimum monthly payments that I hate.

It is the not paying attention when you use credit cards and falling into the trap of being just “good enough” financially that bugs me.

It is the pre-commitment of your future income that robs of you of the ability to follow your dreams and goals that I can not stand.

But even if you do not carry a balance or pay interest on your credit card, it does not mean you are not being harmed.  To me credit cards are like a cigarette. Yes, you can smoke your whole life and never get cancer, but to say it never impacted your health negatively would not be a true statement. Likewise with credit cards, you might never carry a balance on your card, but the overspending, the not paying attention to where your money is going, and the missing out on discounts by not using cash will impact your ability to win with money.

So what’s your view on credit cards? I would love to hear your opinion. Leave a comment below or vote in our Facebook poll.

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Debt Free Living Podcast-015 Jodi Schaap

Listen to Episode 015

Jodi Schaap joins us on today’s show to share how her family paid off $70,000 in debt in two years. The journey was not easy by any stretch of the imagination, as they decided to sell their home and rent a 900 square foot apartment for a year. It was not fun, but by, “taking a vacation from normal,” for those two years they were able to get totally out of debt.

By being out of debt they are able to travel more and to save lots of money. That money will come in handy in the next year as their big goal is to buy a home the right way: with a large down payment of over 20%.

Jodi has been blogging for 11 years now and started jodimichelle.com because she is passionate about intentional living, being involved in her communities, and living naked on paper. Some of her best days are when she gets feedback from her readers on how something she posted impacts their lives. One of the main things on her blog is her Life List which is a list of 100 things that she would like to do in her lifetime. By writing it down and putting in on the blog it has enabled her to accomplish a lot more of the tasks than she had imagined. By being debt free she can make this list a reality.

If you have been a listener to the podcast for a while now, please take the time to complete a five minute survey on the podcast. I want to know what you think of the show, ways we can improve, and find out what you would like more of as a listener. Remember, I do this show for you guys, so this is your chance to be heard! The survey is anonymous so please answer honestly.

You can subscribe to the Debt Free Living Podcast either through Feedburner, iTunes, or Stitcher SmartRadio! The podcast can be found in iTunes under the JW’s Financial Coaching Podcast. If you subscribe you will receive both the JW’s Financial Coaching Podcast on Mondays and the Debt Free Living Podcast on Thursdays.

If you enjoyed this episode please leave a review in iTunes. For a step by step video of how that works please watch this video on how to leave a review in iTunes. Big thanks to my friend Glen Steinson for helping me create the video.

If you would like to take the steps necessary to start living debt free I would love to be a part of your journey. Here’s how I can help

Get focused on one thing rather than being all over the place

Saving for emergencies, getting out of debt, saving for retirement, funding your child’s college, and saving up to pay for a vacation are all good things to do with your money. But if that is the case, how come we hardly do any of them?

JW’s Financial Coaching Podcast-How to handle Birthdays, Anniversaries, and Holidays

Listen to this Episode

Highlights of today’s show:

• Birthdays, Anniversaries, and Holidays happen all the time
• Can become a real budget buster

Friday Financial Tidbit-Celebrating financial differences with your spouse

Last year around this time I did a podcast series on “Love and Money.” One of the shows focused on the differences between men and women. Usually we look at how our spouse views money differently from us and it just drives us nuts. But instead of letting it drive us crazy, let us use it as a reason to celebrate!

Debt Free Living Podcast-014 Rich and Jackie Walters

Listen to Episode 014

Rich and Jackie Walters join us on today’s show to share how they paid off two car loans in about two years. After bouncing around from being debt free to not being debt free they decided to get serious and have been living debt free forever since 2008. It started in 2001 when Jackie decided she was tired of sending her kids to daycare and decided to stay at home with their kids. For Rich that was kind of scary at first, but together they adapted and don’t regret their decision.

When you and your spouse agree on money, you agree on your life

Love and money can be quite difficult sometimes. It can seem so difficult that it is easier sometimes to not even bother with it. But getting on the same page is worth it as it allows you to agree on your whole life!