November 18, 2007


Welcome to Limited Credit. This is the first time I have dived into the world of blogging. I have to admit that at some time in the past, I had been sceptical about writing anything but somewhere along the way, I thought, "hey, if I can find some time to write, particularly on a topic I know about, perhaps it's not as bad as I thought."

One may inquire as to the reasoning behind the existence of this blog and the answer is quite simple. After many years of mismanagement of my personal finances, particularly when it came to debt, I have decided to do something about it. I have decided to remove the addiction (if you will) of credit card/loans/debt in general as a source of material acquisition and use it as little as possible.

In other words, my intended goal is to use cash for anything and everything and try to bring myself out of debt. I have to admit that a couple of days ago, when I put gas in the car and paid via debit card, I had this immediate feeling of satisfaction that it was my own money I was using. Before, whenever I got paid, I would set aside whatever savings, minimum payments, and bills due that needed to paid, then the remaining I would dump onto my credit card(s) and any other expenses that came up I would charge to that card, in the hopes (yeah, right!) that I would be spending less than I was paying onto the card.

Ever since I have decided that anything and everything that I want to spend on has to be with cash, I have found out that I spend more than I thought and I really do not have that much left over by the time the next pay cheque rolls around. In other words, my income seems to equal my expenses!

So, let’s see where my journey of life takes me.

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