Your Credit Score or a Life without DebtBy Susan Boskey Why dont they tell you? From global to national to local, all money is derived from a debt-based monetary system and is, itself, a debt instrument (read: Federal Reserve Note on a dollar bill). Most financial planners are well-meaning but have not been educated on these facts and, therefore, cannot advise you accordingly. The untold truth about money is what any online inflation calculator can tell you; $1.00 is now worth less than .o4 cents and keeps losing value due to how the system works. What this means to you is that the cost of living has skyrocketed and outpaces earning. Credit rushes in to fill the gap and you are the one stuck with the bill. Knowledge of this, alone, should be enough to give people pause regarding how they manage their finances; but it appears not to be the case. To choose a life without debt is to think outside the box. It requires proactive strategies that go against the economic grain of a debt-based society. That said, a life without debt and how to accomplish it is well-worth consideration. Growing up in the 50s and 60s, when the dollar was worth more, my parents paid cash for everything and did not own a credit card. Paying for large purchases on lay-away plan was still very common then, and for those too young to know what that is: We would make no-interest payments (at least monthly) for our purchase that the store would keep until the final payment. Receiving the purchase on that last day of payment was oh so exciting! Also considered horribly old-school today is how my mother managed the family budget. She housed several recycled baby food jars in her desk. Each jar lid had a label on it for: vacations, mortgage payments, school clothes, groceries, utilities, etc. and she would add money to them each pay period. Thats how they stayed out of debt. My point? Due to the continual loss of moneys purchasing power, it becomes ever more difficult to live without credit, but those who are self-directed still can. When the multiple personal costs of accruing debt are considered (health, marriage and family issues), the alternative starts to look pretty good. Of course, like anything else, there are trade-offs. Some of the upsides of using credit, albeit a card or any interest-bearing loan: Some of the downsides: Some of the upsides when you pay-as-you-go: Some of the downsides when you pay-as-you-go: Remember that credit use is a choice you make and is not inevitable if you are willing to think creatively and make the trade-offs necessary to live a life without debt. Susan Boskey is author of the book, The Quality Life Plan: 7 Steps to Uncommon Financial Security. This book not only exposes the bottom-line of why more and more families need credit each month just to make ends meet, but also provides practical and transformational strategies, tactics and templates. By their use, you can reverse the downward trend of credit and debt while learning how to establish a long-term, debt-free lifestyle; one allowing you to genuinely build wealth despite the challenges of todays economic environment. To learn more or to purchase the book, visit her website at http://TheQualityLifePlan.com Most people dont have the passion to learn about money. They want to go to school, learn a profession, have fun at their work, and earn lots of money. One day they wake up with big money problems, and then they cant stop working. Thats the price of only knowing how to work for money instead of studying how to have money work for you. Sounds like todays American political process, most people get up thinking Democrat and Republican and before long, they are screwed. Everyone in this Rat Race is screwd ! https://www.youtube.com/watch?v=dQnZO8-s8T0 K Mart still does lay-aways so its still possible to do them. And a small business can usually be talked into doing them. America is the only country that requires you to throw yourself into debt to prove that you can manage your debt. Totally absurd. I cut my credit cards up 30 years ago. I have no debt. My home is fully paid for as is everything else, cars, motorcycles, etc. Its really not hard. Hello susan , True without credit score or a life without debt is hell.Great points you discussedThanks for sharing valuable thoughts with us.. 