Comments on: Cash or Debit? http://onemillionandbeyond.com/blog/2008/05/28/cash-or-debit/ Tue, 18 Oct 2011 15:23:49 -0700 hourly 1 http://wordpress.org/?v=3.1.1 By: Msminiducky http://onemillionandbeyond.com/blog/2008/05/28/cash-or-debit/comment-page-1/#comment-45243 Msminiducky Thu, 05 Jun 2008 19:35:16 +0000 http://www.onemillionandbeyond.com/blog/2008/05/28/cash-or-debit/#comment-45243 Well, I hated on debit cards on principle, but <a href="http://msminiducky.blogspot.com/2007/10/harsh-lesson-about-debit-cards.html" rel="nofollow">recently discovered</a> that I was still right not to use them. As for cash? Igh.... no good for me either. I have developed a natural aversion to it because it's far far too easily spent and difficult to track. To be honest, I've never tried to go all-cash, and tracked it, but it's because I love my cc rewards, and already consider just about every single purchase very carefully in the context of what I've already spent that month. On the other hand, I can, out of sheer stubbornness, resist spending cash in my wallet, but that doesn't really help if I need to buy groceries, etc. Well, I hated on debit cards on principle, but recently discovered that I was still right not to use them.

As for cash? Igh…. no good for me either. I have developed a natural aversion to it because it’s far far too easily spent and difficult to track. To be honest, I’ve never tried to go all-cash, and tracked it, but it’s because I love my cc rewards, and already consider just about every single purchase very carefully in the context of what I’ve already spent that month.

On the other hand, I can, out of sheer stubbornness, resist spending cash in my wallet, but that doesn’t really help if I need to buy groceries, etc.

]]> By: The Happy Rock http://onemillionandbeyond.com/blog/2008/05/28/cash-or-debit/comment-page-1/#comment-45107 The Happy Rock Tue, 03 Jun 2008 16:48:33 +0000 http://www.onemillionandbeyond.com/blog/2008/05/28/cash-or-debit/#comment-45107 Cash can have big psychological benefits like giving you a tangible feeling of how much a $200 grocery bill is. There is something called the credit card premium which tends to reveal that people are willing to spend much more with plastic than with cash. I do agree tracking is a bear with cash and to make it really work you need something like the envelope system. With that said I like the convenience of the plastic and failed miserably at trying cash. I think I need to give the envelope system a whirl to see what difference it really makes. Cash can have big psychological benefits like giving you a tangible feeling of how much a $200 grocery bill is. There is something called the credit card premium which tends to reveal that people are willing to spend much more with plastic than with cash.

I do agree tracking is a bear with cash and to make it really work you need something like the envelope system.

With that said I like the convenience of the plastic and failed miserably at trying cash. I think I need to give the envelope system a whirl to see what difference it really makes.

]]> By: Carnival of Personal Finance #155 — Time With Family | Moolanomy http://onemillionandbeyond.com/blog/2008/05/28/cash-or-debit/comment-page-1/#comment-45046 Carnival of Personal Finance #155 — Time With Family | Moolanomy Mon, 02 Jun 2008 12:02:23 +0000 http://www.onemillionandbeyond.com/blog/2008/05/28/cash-or-debit/#comment-45046 [...] Cash or Debit at Million and Beyond. It is not flesh and blood but the heart which makes us fathers and sons. ~Johann Schiller [...] [...] Cash or Debit at Million and Beyond. It is not flesh and blood but the heart which makes us fathers and sons. ~Johann Schiller [...]

]]> By: Matt http://onemillionandbeyond.com/blog/2008/05/28/cash-or-debit/comment-page-1/#comment-44860 Matt Fri, 30 May 2008 10:53:44 +0000 http://www.onemillionandbeyond.com/blog/2008/05/28/cash-or-debit/#comment-44860 Good idea - by removing the temptation to overspend you don't give your self the option. Good idea – by removing the temptation to overspend you don’t give your self the option.

]]> By: zeromoney http://onemillionandbeyond.com/blog/2008/05/28/cash-or-debit/comment-page-1/#comment-44763 zeromoney Wed, 28 May 2008 17:43:42 +0000 http://www.onemillionandbeyond.com/blog/2008/05/28/cash-or-debit/#comment-44763 I think the trick for me, is that I don't carry around credit cards, and empty out my available accounts from my debit, so the money I have is the money I have.. until Friday. When it' seasily accessible to get more, it's easier to spend it all. I think the trick for me, is that I don’t carry around credit cards, and empty out my available accounts from my debit, so the money I have is the money I have.. until Friday. When it’ seasily accessible to get more, it’s easier to spend it all.

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