Comments on: Cash, Credit, or Debit: What’s your spending style?

By: kristen

kristen — Mon, 03 Sep 2007 21:30:15 +0000

We were on almost exclusively credit to get the miles but when it was just too high every month to pay off we had to go totally debit. Now we are more aware of our spending and the fact that for a long time more was going out than was coming in.

By: Keter

Keter — Sun, 02 Sep 2007 01:51:47 +0000

Credit card and debit card. I track receipts and get cash back on the credit card. Cash is used only for random things I won’t need to track like when a purchase is only a dollar or two. I do not spend more this way, the debit card just replaced checks. But then I’m pretty pinch-penny to begin with. ;o)

Big items go on the credit card for three reasons:
1. Cash back.
2. Charge back.
3. Security.

BTW, only use debit cards at stores that let you do your own scanning. NEVER use a debit card to pay for a restaurant meal, or anywhere else where your card leaves your sight.

By: Bean

Bean — Fri, 31 Aug 2007 15:08:31 +0000

I try to use cash for impulse-ish things like going out to eat, as that really drives home how much it costs.

For all other things though, I use a single credit card that gives rewards (1-3% cash back) and use it like a debit card, paying it off in full every month.

By: Gwen

Gwen — Fri, 31 Aug 2007 13:47:57 +0000

Credit cards for virtually everything. I get $100 in cash from the bank now and then but between me and hubby that usually lasts a couple or three weeks. Debit cards are creepy, it’s too easy to imagine a thief emptying my checking account within minutes.

We pay the cards in full every month.

By: Lesley

Lesley — Fri, 31 Aug 2007 12:23:45 +0000

Oh, yeah, cash just flies out of my hand so I never have it. I like using the credit card for everything and then beating myself up when the statement comes each month.

By: Samantha

Samantha — Fri, 31 Aug 2007 02:27:19 +0000

My husband and I just implemented a new budget, and with that budget comes a weekly spending limit for each of us. Only $25 for the entire week for our own personal use. Mind you groceries and gas does not come out of this. Those are seperately budgeted. Anyway, I was a BIG debit card user. B_I_G_TIME. That was our downfall. All the small $6,7,8 dollar charges added up without us seeing it. Now we have the $25 in cash and it has to last us or we are out for the week. Currently I have $80! I’ve saved my money, eaten at home, gone to walmart only once or twice, shopped at Old Navy and spent $20 of my cash and still have the extra. I think I’m doing well with it and for the first time being on a budget, it’s not too bad:)

By: themomhalf

themomhalf — Fri, 31 Aug 2007 01:53:11 +0000

gonna have to figure this one out, my dh gets paid once a month now — all bills are auto-debited the first week or two of the month, and i know what they are, the rest goes to food, petrol, savings, etc….

By: Teresa

Teresa — Fri, 31 Aug 2007 01:25:11 +0000

Debit card all the way. Of course, I do all my financial bookkeeping on paper, so I only have to stub it once I also track my purchases that way. Cash is evil for me. Once it’s gone I have no clue where it went.

DH and I are currently paying off credit cards and cutting them up. I’m planning to keep one and use it for a couple of bills to keep it active.

By: Margo

Margo — Fri, 31 Aug 2007 01:10:15 +0000

Hey Ivy, on a different note, did your avatar change for this blog? I keep waiting for the pretty one with her chin in the air – what happened to her? She was the first face of Ivy that I saw. . .

By: Margo

Margo — Fri, 31 Aug 2007 01:08:39 +0000

I use my rewards Visa for everything I can, and keep cash for the farmer’s market. We pay our bill every month. We don’t keep track of all our purchases – never worked for us – but I do worry that as we make more money, we will spend more money (and not on filling our IRAs if you know what I mean!).