A few weeks ago we talked about living a lifestyle without DEBT and how you can afford your lifestyle by first determining “how much income you need to life the lifestyle you desire.” If you recall, the solution was: *Only earning more income and spending less will resolve living beyond your means.

Now, Let’s talk about: “Managing Your Lifestyle WITHOUT Using Credit Cards” 

The best way to really pay for your lifestyle without credit cards is to manage your money the way people did before credit cards even existed. This is the old method of setting the money aside from your income and then buying what you need only after you have saved the necessary funds for its purchase.

But that’s Old School –  Obsolete! Unsophisticated! Arduous!


Call it what you want, but you have been brainwashed to buy everything on credit so that banks can happily charge you (and you happily pay) the additional transaction and interest costs. And that kind of thinking has created a society that is functionally bankrupt.

The way to really get ahead is to make a lot of money and delay some of that craving for gratification. I know that I’m speaking in direct opposition to what all of the media is telling you — you know, buy now and pay later, 0% financing (as if that was true….) and any other mechanism used to entice you to get what you want right now.

1) Start with getting your monthly expenses under control.  This includes your rent or mortgage, utilities, cable, cell phone, subscriptions and any other recurring expense. Critically analyze each expense to see how it can be reduced or eliminated if you aren’t currently getting the full value of that purchase in your everyday living.

2) Then get your credit card balances paid off as quickly as possible— take every dollar you can find and get those accounts out of your life.

3) Then operate totally on cash. Pay for your current expenses and your future purchases with savings.

Let’s say that you want a new car in 5 years and you will be able to trade in the one you have for $10,000. If the new car costs $25,000 you will have a net expense of $15,000. If you save $3000 a year (or $250 a month) into a SEPARATE account only for the purchase of a new car in 5 years, you will have sufficient resources to make that purchase at that time. If you just try to save it in your normal checking account or savings account, you will spend it on something else before the 5-year target. Guaranteed.

4) Take all of your other predictable future expenditures — home maintenance and improvement, educational costs, car maintenance, recreational expenses, etc. — and set aside monthly in a different account for those future commitments and leave the money alone until the planned expense arrives.

This isn’t difficult to do, it’s just a change in one’s mindset and the discipline to delay some of that gratification for a time. But it’s worth it.

The Private Practice Millionaire creates a future in which he doesn’t owe anything to anyone, as this strategy has the highest potential for greater personal satisfaction and long-term prosperity.

Once you get your past debts behind you and operate with cash on your present living and future acquisitions, you’ll find it will assist you with a much more positive and successful financial experience while you Live Your Art®!

P. Christopher Music
The Financial Prosperity Coach®