Do you spend more freely with cash or debit?


  • Tanya Steinberg - 12 years ago

    I tend to spend more freely with cash. I set myself up a account (free) and entered all my different accounts and used the budgeting feature to set limits for food, gas, insurance, etc. Even Fast Food! And when I go over with my debit cards it sends me a stern warning via email. It's like your Jewish Grandma guilting you so I'm more conscious of what I'm spending. And I have the ability to track my spending over time giving me a better idea of what financial areas I need to address, if any.

  • tara - 14 years ago

    I use my debit card for everything because I can track it easily on my bank's website. I'm too lazy to keep track of how cash is spent. But, I think I should start the cash-only thing to keep me on budget.

  • Chppie - 14 years ago

    I think of cash as a treat and it then ends up getting spent in a snack or magazine or other special item.

    But I also agree that debit can be it's own challenge to manage because it's swipe and forget. I wonder what our cash flow would be like if there were no ATMs or Cash Back while shopping with debit?

  • lorna - 14 years ago

    I definitely spend more freely with a card. Even if I have the cash and planned to use it for a purchase, I'll often end up putting it on a card because I can't stand to have the cash leave my possession!

  • Rachel - 14 years ago

    I prefer to use cards, particularly if I don't know how much the total will be. For example I took $40 out of the bank the other day and my purchase only came to $17. The remaining $23 is nowhere to be seen in my wallet!!!

  • cindy - 14 years ago

    I marked cash - but I think the reason is because I know there is still money in the bank if I blow it. If I were strictly following the financial gurus, there would be only cash and no money in the bank as a back-up so then I think I would be more careful. My problem is that it's too easy to access my money. If I had to go to the bank and write a check and withdraw the money, I'd probably be more careful. But when I can pull up to an ATM and transact business from my car window - or even worse, pay for even small items with a debit card, it's too easy to justify impulse buys.

  • NMPatricia - 14 years ago

    This was a tough one and had to think. I picked cash because it has already been "spent" as far as Quicken is concerned - taken out of the overall total. so it seems like "free money" now. But I definitely still think about the debit one. But both are more no brainers than credit card any more. I wonder why that is?

  • Karen - 14 years ago

    I definately spend more freely if I have cash in my purse! It's the availability I think. I usually have a little cash but pay for most things with a debit card.

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