- Personal Finance
Living BK -- a look at life after bankruptcy 4
#4 Internet shopping
Living BK is a time of frugality, of getting the best deal, making every dollar count. One of the best shopping tools to support that objective is the internet.
There really is no better way to comparative shop and snag the best deals – from printer ink to cashmere sweaters – than the internet.
But how do you make a purchase? Credit cards make internet commerce possible. And so does a service called PayPal. Accepted at most sites, PayPal is a safe, secure way of transferring funds on the internet.
Typically, PayPal purchases are secured with a credit card. But that’s only one method of ensuring funds are available to support internet shopping. PayPal can be directed to pull funds from a PayPal account into which you place a reserve, or to pull directly from your bank account, just as a debit card would do.
This makes it possible to take advantage of all the internet has available. All we have to remember is that our purchases are automatically deducted from the connected account. There is no more credit. Pay as you go!
Remember, that is the mantra of Living BK: If you don’t have the money now, you can’t be buying it.
The credit mantra is “Buy now, Pay later.” The Living BK mantra is: “Pay as you go!”
Living BK means; “No cash, no purchase.”
Credit cards mean, “Buy now, Pay later.” This pithy little axiom really is a two edged sword. True – it’s a great convenience to make a purchase now that you pay for later, or in increments over time. This is really a great thing when those unexpected “surprise” purchases/emergencies arise. If you need a $2000 repair of your vehicle, a credit card can be a life saver. A credit card can come in real handy as a “rainy day fund” – and that’s exactly what we need to keep in mind.