Everyone has a different opinion and strategy when it comes to cash, credit cards, and debit cards.
Many bloggers recommend credit cards to earn specific rewards that meet your lifestyle, such as travel points.
The (HUGE) caveat with this credit card spending is you must possess the discipline to manage your spending on the credit card. You must stay within your budget. Many of us, myself included, cannot stay within budget with a debit or credit card.
With much trial and error we have found that cash is best for us.
If you are not sure about the benefits of cash or believe it is antiquated in this digital age, let me tell you a story from approximately 6 hours ago.
This story shows the power of cash in our decision making versus credit/debit.
Kevin and I were out for a run. I decided to bring my handy wrist wallet with some cash so I could stop at the store after our run. We needed a few groceries for home, and this seemed like a better solution than dragging the kids to the store later.
We ended our run and Kevin walked home while I walked to the store.
I had my list and wrist wallet and began grabbing items.
I got to the self checkout and very leisurely checked out my items and scanned all my coupons.
Then the total read $34 and I reached in my wrist wallet to find exactly $22. My initial thought was, “Oh well, I will put the remainder on our debit card.”
Wrong. I realized I did not have my debit card with me.
My heart panicked a bit, but then I politely asked the cashier to start voiding items from my bags. I kept handing him items until I reached a total under $22. He was very friendly and made it less awkward.
I left the store a little embarrassed, but I realized something very valuable: Cash made me get to the basics in a way that debit could not.
I had to analyze my bags and decide which items were crucial and which items could go. It was amazing to me how quickly I discarded $12 worth of food and still seemed to have what I needed.
This transaction solidified in my mind the difference between spending cash and credit. If I had my debit card I would have bought all those items and felt justified since it was food. Cash, however, is finite. You have what you have, and this reality forces more sacrifice and diligence.
Some might have left this situation proclaiming, “I am never going to forget my debit card again.”
I left with a different conclusion. I left proclaiming in my mind, “I want to leave my debit card at home and force myself to get exactly what is on my list.”
If you do not believe in the benefits of cash, I challenge you to leave your debit card at home and only take cash somewhere.
Your purchasing mindset will be completely different.
Just make sure you intentionally leave the debit card at home. You will save yourself a lot of embarrassment….trust me.
Great post! So valuable a lesson. Thanks for sharing. Here’s to cash inspite of the looks from some “cashiers”! LOL😁
Thank you for your comment. Yes, sometimes I get looks of surprise from cashiers because they have already hit the “card” button on their side and have to start over. They usually comment that most people don’t use cash anymore.
Great post! You’re right about the different mindset with cash and debit. When I have only cash I suddenly have so much more self control, lol!
Yes, my self control is suddenly so different with just cash…it’s amazing!!! Makes me realize I make more impulsive purchases at the store than I realized!
Thanks for reading! -Brittany
Cash is so REAL. another benefit, once the item is paid for, the transaction is done (no looking at credit statement and wondering what I bought) 6 weeks ago)
You are so right about the transaction being complete. I love that feeling with cash–no trying to decipher what all the random amounts mean on a credit card statement! Thank you for reading! -Brittany