Comments on: Cash or Debit Card? http://www.savingadvice.com/blog/2008/09/27/102751_cash-or-debit-card.html Bridging the gap between saving money and investing Thu, 08 Jan 2009 23:48:22 +0000 http://wordpress.org/?v=2.6.1 By: rob http://www.savingadvice.com/blog/2008/09/27/102751_cash-or-debit-card.html#comment-448997 rob Fri, 03 Oct 2008 02:21:32 +0000 http://www.savingadvice.com/blog/?p=2751#comment-448997 Thats your opinion I guess but using a debit card for me is not pointless at all. Quite the contrary. Thats your opinion I guess but using a debit card for me is not pointless at all. Quite the contrary.

]]> By: Vik http://www.savingadvice.com/blog/2008/09/27/102751_cash-or-debit-card.html#comment-448490 Vik Thu, 02 Oct 2008 13:38:23 +0000 http://www.savingadvice.com/blog/?p=2751#comment-448490 Cash is pointless as are debit cards. If you are responsible, get a credit card that rewards you. In one year I have been rewarded 4 round trip tickets. Keep the cash somewhere where you earn interest. If you use a card (of any kind) it is easier to track your expenses. I use expenseview.com for every transaction. The key to be smart with your money is tracking every transaction... Cash is pointless as are debit cards. If you are responsible, get a credit card that rewards you.

In one year I have been rewarded 4 round trip tickets.

Keep the cash somewhere where you earn interest. If you use a card (of any kind) it is easier to track your expenses. I use expenseview.com for every transaction.

The key to be smart with your money is tracking every transaction…

]]> By: Carol http://www.savingadvice.com/blog/2008/09/27/102751_cash-or-debit-card.html#comment-447860 Carol Wed, 01 Oct 2008 15:34:53 +0000 http://www.savingadvice.com/blog/?p=2751#comment-447860 I'm torn on this one. I really rely on my debit card and hardly ever use cash. I don't feel safe using it. However, one big disadvantage of our debit card is that since my husband and I have a joint account, we are both spending out of, it means we both have virtually unlimited access to the bank account. We often don't know how much the other has spent until we turn in the receipts and then it's "whoa nelly"! With a cash based envelope system, each person has a set budget amount to spend and you can keep a better handle on your money. I’m torn on this one. I really rely on my debit card and hardly ever use cash. I don’t feel safe using it. However, one big disadvantage of our debit card is that since my husband and I have a joint account, we are both spending out of, it means we both have virtually unlimited access to the bank account. We often don’t know how much the other has spent until we turn in the receipts and then it’s “whoa nelly”! With a cash based envelope system, each person has a set budget amount to spend and you can keep a better handle on your money.

]]> By: rob http://www.savingadvice.com/blog/2008/09/27/102751_cash-or-debit-card.html#comment-447823 rob Wed, 01 Oct 2008 14:24:04 +0000 http://www.savingadvice.com/blog/?p=2751#comment-447823 Using a debit card over the last few years instead of a credit card has allowed me to keep my spending from getting out of hand. Using the debit, even though it may not have the same level of protection as a credit card, was the single best thing I could have done to avoid paying outlandish credit card fees. Using a debit card over the last few years instead of a credit card has allowed me to keep my spending from getting out of hand. Using the debit, even though it may not have the same level of protection as a credit card, was the single best thing I could have done to avoid paying outlandish credit card fees.

]]> By: Suzy http://www.savingadvice.com/blog/2008/09/27/102751_cash-or-debit-card.html#comment-447788 Suzy Wed, 01 Oct 2008 12:42:48 +0000 http://www.savingadvice.com/blog/?p=2751#comment-447788 About a year ago, my husband and I decided to use cash for everything. We shredded our debit cards after paying $38.89 for a cup of coffee ($37.00 overdraft fee + $1.89 for coffee). We were both taking money out of the same account and weren't writing all of the purchases down. Since we have started using cash only, we have trained ourselves to spend more thoughtfully and now we only pay $1.89 for coffee in the morning! I would suggest to ANYONE to try this for a week or a month. We're very pleased with our results. About a year ago, my husband and I decided to use cash for everything. We shredded our debit cards after paying $38.89 for a cup of coffee ($37.00 overdraft fee + $1.89 for coffee). We were both taking money out of the same account and weren’t writing all of the purchases down. Since we have started using cash only, we have trained ourselves to spend more thoughtfully and now we only pay $1.89 for coffee in the morning! I would suggest to ANYONE to try this for a week or a month. We’re very pleased with our results.

]]> By: justme http://www.savingadvice.com/blog/2008/09/27/102751_cash-or-debit-card.html#comment-446545 justme Mon, 29 Sep 2008 15:02:58 +0000 http://www.savingadvice.com/blog/?p=2751#comment-446545 #9 i am with you I hate being stuck behind people using plastic it is so slow;-) #9 i am with you I hate being stuck behind people using plastic it is so slow;-)

]]> By: justme http://www.savingadvice.com/blog/2008/09/27/102751_cash-or-debit-card.html#comment-446542 justme Mon, 29 Sep 2008 15:01:05 +0000 http://www.savingadvice.com/blog/?p=2751#comment-446542 to # 8 no matter how bad you need/want something if you cannot aford it you cannot buy it plain and simple budget idea as for peopel who lose cash and cannot control their spending with cash that strikes me as a flaw I would choose to correct to # 8 no matter how bad you need/want something if you cannot aford it you cannot buy it plain and simple budget idea

as for peopel who lose cash and cannot control their spending with cash that strikes me as a flaw I would choose to correct

]]> By: Joel http://www.savingadvice.com/blog/2008/09/27/102751_cash-or-debit-card.html#comment-446129 Joel Mon, 29 Sep 2008 02:26:57 +0000 http://www.savingadvice.com/blog/?p=2751#comment-446129 I prefer a credit card over a debit card, credit card gives a 25 day grace perion on payment and there are some point incentives also. I pay the bill in full each month and never carry a balance. I would never use credit if I had to pay intrest charge. I have never used a debit card because it is more troublesom to keep a tally on spending. I prefer a credit card over a debit card, credit card gives a 25 day grace perion on payment and there are some point incentives also. I pay the bill in full each month and never carry a balance. I would never use credit if I had to pay intrest charge.
I have never used a debit card because it is more troublesom to keep a tally on spending.

]]> By: kemkem http://www.savingadvice.com/blog/2008/09/27/102751_cash-or-debit-card.html#comment-446047 kemkem Mon, 29 Sep 2008 00:08:11 +0000 http://www.savingadvice.com/blog/?p=2751#comment-446047 I am not surprised that people spend more with the debit card. It doesn't seem like it's "real" money. I am one of the dying breed who still uses an ATM card. I had to threaten to close my account in order to keep getting renewals. They would automatically send me a debit card and l would go in and demand an ATM card. It is more real to me when l have to put my pin # in. I know it's coming straight from my wallet so to speak and it makes me more careful. The banks hate ATM cards because they can't charge the establishments the 3-5% processing fee. I use credit cards for dining out. I am not surprised that people spend more with the debit card. It doesn’t seem like it’s “real” money. I am one of the dying breed who still uses an ATM card. I had to threaten to close my account in order to keep getting renewals. They would automatically send me a debit card and l would go in and demand an ATM card. It is more real to me when l have to put my pin # in. I know it’s coming straight from my wallet so to speak and it makes me more careful. The banks hate ATM cards because they can’t charge the establishments the 3-5% processing fee. I use credit cards for dining out.

]]> By: baselle http://www.savingadvice.com/blog/2008/09/27/102751_cash-or-debit-card.html#comment-445398 baselle Sat, 27 Sep 2008 23:56:58 +0000 http://www.savingadvice.com/blog/?p=2751#comment-445398 I love cash, but then again, I'm from a primitive tribe. What I don't understand is anyone could believe that somehow plastic makes the transactions go faster... Plastic: give cashier card card swiped receipt printed add tip, total sign grab copy of receipt leave Cash: give cashier cash get change get receipt leave I love cash, but then again, I’m from a primitive tribe. What I don’t understand is anyone could believe that somehow plastic makes the transactions go faster…

Plastic:
give cashier card
card swiped
receipt printed
add tip, total
sign
grab copy of receipt
leave

Cash:
give cashier cash
get change
get receipt
leave

]]>