Ask Lemmy
A Fediverse community for open-ended, thought provoking questions
Please don't post about US Politics. If you need to do this, try [email protected]
Rules: (interactive)
1) Be nice and; have fun
Doxxing, trolling, sealioning, racism, and toxicity are not welcomed in AskLemmy. Remember what your mother said: if you can't say something nice, don't say anything at all. In addition, the site-wide Lemmy.world terms of service also apply here. Please familiarize yourself with them
2) All posts must end with a '?'
This is sort of like Jeopardy. Please phrase all post titles in the form of a proper question ending with ?
3) No spam
Please do not flood the community with nonsense. Actual suspected spammers will be banned on site. No astroturfing.
4) NSFW is okay, within reason
Just remember to tag posts with either a content warning or a [NSFW] tag. Overtly sexual posts are not allowed, please direct them to either [email protected] or [email protected].
NSFW comments should be restricted to posts tagged [NSFW].
5) This is not a support community.
It is not a place for 'how do I?', type questions.
If you have any questions regarding the site itself or would like to report a community, please direct them to Lemmy.world Support or email [email protected]. For other questions check our partnered communities list, or use the search function.
Reminder: The terms of service apply here too.
Partnered Communities:
Logo design credit goes to: tubbadu
view the rest of the comments
Paying off all our credit cards and cancelling them and living off cheque / savings accounts rather than credit.
We did this about 5 years ago before COVID uncertainty and the current cost of living crisis and I’m just so relieved we don’t have to worry about paying anything off.
If you’re good about treating it like cash, credit cards aren’t a bad thing. The cashback/rewards are nice as they are not taxable. (At least in the US)
That said, for some the temptation of credit is too much.
The gamification of credit card points can be a problem, too (overspending on stuff you don't really need or want to get those rewards). I use a credit card for this, too, but it can be murky waters if you don't have really good planning and impulse control (which I will admit I don't always have myself).
The cashback ones are better than the points collectors. Though they both have some positives.
With the cash back ones you just get money back for spending money that you would have already spent. If you spend enough to get more cash back than the fees for the year then you are ahead. With the points ones if you use them up once a year to get something that you would then not have to spend money on including the yearly fees then you are also ahead.
I get enough enough points to get a gift card for my favorite steakhouse. So we don't pay each year for our two yearly visits to the steakhouse because of points.