Well I've been using my debit card for just over a week now (after months using the jars/cash). I'm not so sure if I'm being good with it or not. I've had a few things that have messed around with the numbers in my budget a bit so its a little hard for this week to be an accurate reflection. I have found that I probably pick up items at the grocery store that I might not have if I was carrying X amount of cash.
I think I will give it another pay period before I make a decision on staying with the debit or reverting back to the jars or some combination of the two.
I am convinced that Dave Ramsey (and whoever does the research) is correct about it being less painful to pay with plastic, be it debit or credit, and much more painful to pay using cash. And therefore the tendency to spend more than you would when paying cash.
How do you pay for items? Cash, debit, or credit? Do you think you spend more or less because of the way you pay?
oh my goodness, I JUST posted about this! I guard my cash money like it's endangered. Plastic, I don't think twice. It's totally dangerous, but I'm still trying to get the hang of a 'cash diet'.
ReplyDeleteHey Taylor, they say great minds think alike. :) Do I have a link to your blog?
ReplyDeleteI use cash. I pull out what we need for the week and that's that. I definitely use less because I'm paranoid of being "short" at the till. lol!!!
ReplyDeleteI can't use cash because I'm SOOOO horrible with basic arithmetic. Geometry is more my thing, but obtuse triangles don't help me any in budgeting :)
ReplyDeleteWith my debit card, I can at least track every purchase. Sometimes I do swipe without looking at the total, and I think that's what gets me in trouble. Absolutely "no" to credit cards.
Nice job at eliminating your debts! Your completed progress bars are quite encouraging :)
Doesn't make much difference for me but I use primarily cash because here where I live everyone doesn't have a swipe machine and also as of recent my bank charges me for swiping so I just go withdraw cash.
ReplyDeleteI am actually trying to get a rewards credit card but the bank says I haven't been working long enough but as soon as I do I will use that as my primary method and supplement with cash where I can't use it.
I'm on the fence on this one. I rarely have cash on me. I tried doing cash only, but it was more of a hassle for me and I didn't see much of a difference in what I spent. A debit card feels like cash to me ... now if you want to talk credit cards, that's a different story .. can't carry those... ever! My debit card is also a rewards card, so come Christmas time, I can usually get some gift cards to give away. I think whatever works for you is the way to go!
ReplyDeleteSarah
I pay by debit, but I only put a certain amount of money in the account for the week. So, if I budget $100 for groceries, I put $100, plus whatever other spending money I've allotted myself and if I go over $100 for the groceries, I"m taking away from my spending money. Works for me!
ReplyDeleteI find myself spending less when I have cash. I'm also on the jar system but it's been a lil crazy lately and I'm starting to rob peter to pay paul @_@
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