Enough with the Credit and Debit Card Confusion

Frank Curmudgeon – clearly knowledgeable in the world of finance – is wondering out loud why folks use debit cards instead of credit cards.  He appears proud of a history of never having used his own debit card to purchase anything.   Read more

The Rise of Debit Cards

Can this be the U.S.? Visa is reporting that in 2008, American consumers spent more using debit cards than they did with credit cards.

Mr. ToughMoneyLove is pleasantly surprised. Shocked might be a better word. Read more

Tough Love Techniques to Stop Using Credit Cards

Lots of Americans are burdened by substantial credit card debt and poor cash flow.  This combination causes these debtors to make only minimum payments on the card balances.   On top of this, the cardholders struggle with the willpower needed to stop using the cards.  Most understand that they should stop using their credit cards but find it difficult moving from knowledge to action.   Accordingly, other techniques must be used to prevent the continued escalation of the card balances because simple force of will is not going to work.   In other words, the cardholder must apply a “tough love” technique to himself or herself to break the card use cycle.  What are some of these self-administerd tough love techniques? Read more