Friday, August 29, 2008


Wouldn't it be great to be Debt Free? Well that's what many Seattle Free School students learned about this last week... here's the report:

During a rainy Seattle evening, a total of six people showed up at the new Ballard Library to attend "The $1.29 solution to reducing Credit Card debt" and learn what they could apply to their own personal situation. The speaker pointed out that banks, the issuers of credit cards, are not the cardholder's friend, despite any advertising to the contrary. He mentioned a recent experiment in Houston, shown on, where the family of four agreed to use cash only during one month. They saved $1,800 over a comparable month when credit cards were used. The wife said that the only inconvenience was in getting gas, which required dealing with the cashier twice per fill-up, so she would continue to use her credit card for gas as there was no risk of buying more than the tank could hold. The facilitator passed out memo pads to keep track of spending, designed to differentiate between wants and needs. Privacy was maintained, even when one student brought out her credit card statements to ask about some of the fine print.

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