I think debit cards are great. They're not limitless, and quite a few banks these days won't cover if you accidentally overdraw, so it's an easier way of carrying around your bank account WITH the responsibility of making sure you know what you are spending and when...with a bite, like a $30 fee, if you forget to keep track!
Credit is the big problem.
Hey, it's kind of surprising how many of those items up there I remember (I think my dad still uses his manual lawn mower, actually). Aw.
Totally agreed about debit cards. However, I suspect that the point Felicia was trying to make is that cash is better than both credit cards and debit cards, because it's easier to keep track of what you're spending.
Perhaps. It's also easier to lose a lot of money if, for instance, your purse gets snatched. I dunno. I used to always carry cash, for the reason you state, and frankly it just became much easier to keep track with my debit card, because the money was always in one place and I could check it online against my records, etc.
Don't get me wrong; I love the convenience of my debit card. But I also carry cash with me so I don't nickel-and-dime my bank account out of existence.
In a society that thrives on instant gratification, I think having access to one's entire savings all at once can be dangerous when it's nothing more than a swipe of a card and numbers on a page. And that goes doubly for overextended credit.
It sounds like the way you use your card works for you, though. :-)
Hmm, see, I don't have access to my savings through my debit card. It only connects to my checking account, and anything in my savings account I have to either pull from an ATM or actually go into the bank and withdraw. So as long as I put the truly no-spend money (stuff above and beyond what my budget says I should have for bills and regular life stuff) in the savings, I'm good. :)
Yes, that's what I was getting at. It also puts a limit on what you can spend at any one time. If you don't have access to your entire savings, you can't spend it all with the swipe of a card.
I love the convenience of my debit card, but I also carry cash with me so I don't nickel-and-dime my bank account out of existence.
Credit is the big problem.
Hey, it's kind of surprising how many of those items up there I remember (I think my dad still uses his manual lawn mower, actually). Aw.
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In a society that thrives on instant gratification, I think having access to one's entire savings all at once can be dangerous when it's nothing more than a swipe of a card and numbers on a page. And that goes doubly for overextended credit.
It sounds like the way you use your card works for you, though. :-)
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I love the convenience of my debit card, but I also carry cash with me so I don't nickel-and-dime my bank account out of existence.
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