Comments on: Credit Card Use Dissuades Saving for Emergencies http://www.financialfreakshow.com/2009/10/credit-card-dissuades/ "Money frees you from doing things you dislike. Since I dislike doing nearly everything, money is handy." - Groucho Marx Sat, 13 Feb 2010 03:35:24 -0600 http://wordpress.org/?v=2.8.2 hourly 1 By: Vinny Financio http://www.financialfreakshow.com/2009/10/credit-card-dissuades/comment-page-1/#comment-166 Vinny Financio Thu, 29 Oct 2009 13:18:44 +0000 http://www.financialfreakshow.com/?p=803#comment-166 CC Chaser & WellHeeled, I think thats great that you use the cards as tools. My hope is that more people will use them in that manner instead of in place of a sound financial plan. Using them as a tool can have it's benefits for those that have the disciplne, knowledge and self control to manage them well. CC Chaser & WellHeeled,
I think thats great that you use the cards as tools. My hope is that more people will use them in that manner instead of in place of a sound financial plan. Using them as a tool can have it’s benefits for those that have the disciplne, knowledge and self control to manage them well.

]]> By: Credit Card Chaser http://www.financialfreakshow.com/2009/10/credit-card-dissuades/comment-page-1/#comment-162 Credit Card Chaser Thu, 29 Oct 2009 04:12:36 +0000 http://www.financialfreakshow.com/?p=803#comment-162 I agree with WellHeeled. My cash back credit cards are not an emergency savings fund but rather just a method of payment that just so happens to make me 1% - 3% cash back :) I agree with WellHeeled. My cash back credit cards are not an emergency savings fund but rather just a method of payment that just so happens to make me 1% – 3% cash back :)

]]> By: WellHeeled http://www.financialfreakshow.com/2009/10/credit-card-dissuades/comment-page-1/#comment-161 WellHeeled Thu, 29 Oct 2009 02:30:54 +0000 http://www.financialfreakshow.com/?p=803#comment-161 Interesting post. I agree that everyone need emergency funds and shouldn't rely on credit card as the only source of income in an emergency. But I see credit cards and savings as two very different tools in my financial toolbox - they are not substitutes for each other. Savings / liquid assets are SOURCES of money I use for payment. Credit cards are a METHOD (like cash, check, debit card, PayPal, etc.) of payment. I have an emergency fund and I have credit cards, and I don't confuse my credit card as a source of money. That way, I enjoy the benefits of credit cards (fraud protection, virtual numbers when purchasing items online, award points, etc.) without damaging my personal finances. Interesting post. I agree that everyone need emergency funds and shouldn’t rely on credit card as the only source of income in an emergency.

But I see credit cards and savings as two very different tools in my financial toolbox – they are not substitutes for each other. Savings / liquid assets are SOURCES of money I use for payment. Credit cards are a METHOD (like cash, check, debit card, PayPal, etc.) of payment.

I have an emergency fund and I have credit cards, and I don’t confuse my credit card as a source of money. That way, I enjoy the benefits of credit cards (fraud protection, virtual numbers when purchasing items online, award points, etc.) without damaging my personal finances.

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