The "new paradigm"

[ApatheticNoMore]

This is what they tell me at the bank today while tryinig to cash a paycheck: "In the past people used to lock their money away in CDs and get paid for it, that was the old way of doing things. Now what you get paid for is spending money (via a credit card) and getting cash back, that's the new way". Ah I see it's a whole new world, where spending is saving. Ben Bernake, what have you wrought? :0!

[Juds]

Lordy.

[Wildflower]

Sad but true...

[ctg492]

So strange isn't it. If managed well and never paying interest, it does make sense.

[Stella]

Oh wow!

[Zoebird]

we still use CDs. We currently have several thousand dollars rolling over in CDs. sadly, they don't earn much (undr 6%), but it's a nice safe little investment for us. And, it's money we can't touch once it's in there, so. . . good for us.

we do not use credit cards. we have one -- through our credit union -- for emergencies. we sometimes use it for online purchases (eg, when we got our new business computer). it has 30 days interest free, and we always pay it off before the interest date.

also, having it and using it every now and again keeps our credit scores up.

i could never figure out how "cash back" and stuff worked, so i never got involved.