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Originally Posted by jmjj215
I think if you're operating on a written budget that you've made before the month begins, that you can stick with using a cashback credit card and not fall into that "spend more b/c it's plastic" category. I started using a cashback cc 6 months ago and have noticed no uptick in my spending. It's because my wife and I have a plan at the beginning of the month on where the money is going and we stick to that plan.
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In your case that is probably very true however the statistics show something different (I could offer many more but just threw a few in for conversation sake). Your case is an indicator that they can be a great tool for people that already have good budgeting and spending habits however that is not the norm. I've seen this same thing with debt consolidation loans, people get them with the
intent of becoming better with their money but over the 6-12 months after getting them tend to fall back into their old spending habits and soon have the debt consolidation loans as well as new credit card debt.
As usual the people that most likely need to hear that message are probably not the people that would be a part of this forum.
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Originally Posted by jmjj215
Personal Budget System
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Also, noticed your PBS signature link and took a quick look, do you mind me asking where you got the Debt Snowball term from?