Which do you believe is better, purchasing with cash or paying for the Item in installment over a prescribed time period. you could make a one-time cash payment and avoid the interest that would have accrued if you had credited the item. The other side of the coin is that you could pay in installments that could free up money to take care of critically urgent business which could have accrued cost if this expenditure should be delayed. Which option do you believe would probably be the better deal?
I am so used in purchasing with credit card especially when the amount involved is not small - 1,000 pesos ($25) is better to be paid by card. Paying in cash sometimes has a problem with the lack of change and it takes time while credit card has the standard procedure. However, I always take note of the receipt by compiling and logging in my personal ledger so money can be allocated for the payments.
I never use my card. The only times that I use my card is when I am ordering online - and even that is very rare, as I prefer to use Paypal to pay for things online. And then the only other time that I use my card is when I am withdrawing money from an ATM machine. I hat using my card. If I use cash it is just less complicated in my opinion.
If I was asked this question a few months ago, I would have said credit card. But now, I do not have a credit card so I use my debit card or cash. I am trying to get out of debt and to be a little more frugal so if I do not have money in my account or in my pocket then I do not buy it. If you are not careful with credit cards, you can get in way over your head and the interest adds so much to your initial cost that it is ridiculous.
I much prefer to save up and then pay cash for my purchases, if I have to. Or simply use my debit card. I used to have a credit card that I reserved for big purchases. I'd subsequently take months to clear it up and the interest on mine was a bit of a killer, which I didn't care for. So I got rid of it, and now i'll only buy stuff if I can afford them.
I prefer cash for anything non essential because I think it keeps me from spending more. It's hard to let go of my cash and I am very aware of how much I have. We use our debit card for groceries and bills. We try not to spend money we don't have. We did use our credit card to buy Christmas presents so that we could buy it all at once on Amazon and then pay it off over a couple pay periods. I think it saved us money in that instance because we didn't have to spend gas money going from store to store and we were able to comparison shop for the best deal as well as read reviews.
I am always in favour of the option that is the cheapest - and a lot of the time, that will be cash. I think that it is silly to pay interest on things that you could afford outright, and I make a point of not buying anything that would end up costing me more money in the long term. I do use a credit card, but only because I get rewards from it, and I always make sure that I pay it off as soon as I can so that I never have to pay any interest on it at all.
Without doubt - as someone that neither uses a credit card nor borrows money - the best deal in my mind is to always to pay outright - as apart from the fact that credit is not a very cost effective way of buying anything - particularly as - unless the debt is paid off immediately - you land up paying way, way more for goods - than you would have done had you paid cash - due to the extortionate interest rates - but - if living within your means and only buying what is actually needed and can be afforded - needing to borrow money to buy something - is to put it bluntly - generally a sure sign that you can't afford it and would be better off not buying it.
I would vouch for cash anytime of the day but we have to face it. Unless we've come to a point of utter solvency and are therefore financially free, we can buy anything we want without worrying whether we still have money left. However, there are people who want to have a good life but could not afford to spay spot cash. With proper budgeting, they can manage to pay expensive items on a piecemeal basis. So it's not bad to use credit as long as you diligently pay every month, try not to run away from your creditors, until you've completed your payment.
I prefer to use cash instead of credit card since you will be saved of the interest that it accrues you over time. I would rather save money to purchase something expensive than to use a credit card, it can get you into debt if you're not careful.
I have never been fond of using credit cards and I honestly have never used one in my life time. As much as possible, I avoid having to avail of credit cards even if there have been many offers before. I even remember receiving constant calls from my bank telling me to claim my credit card in their branch because my account came with a free credit card in it. I have always refused their offer until they finally stopped. So basically, up to this day I have been using cash in most of my transactions. I use a debit card for my online transactions.
Even though I have a debit card, I prefer paying in cash. I usually have a sufficient amount of money with me. It depends on my purposes, of course. But it's never huge. By the way, those who have problems with overly spending their money because they can't really control themselves should probably try paying in cash only. When you have your card with you, you can spend everything in a moment.
I use my credit card for most purchases I make. I have a Costco credit card so you earn cash back which you can spend at Costco. The best thing about the cash back is I can take the rebate cheque to Costco buy a bag of milk with it and the rest I'll get back in cash. We just finished some home renovations and used this card to purchase most things. I just received a rebate cheque for almost $1000. That's good money I just saved using the card. I mean I'm going to be paying for these items I might as well try and earn some cash back by using a credit card. If I used my other card I would have gotten air miles which wouldn't have been as much.
As strange as this may sound, but I have never owned a credit card in my life. I have also never taken out a credit on anything. My personal policy has always been: if you can't afford it, don't buy it. Of course, it might be quite different when I finally find the right piece of land, and decide to buy it. But until then, there are still some miles to go.
The better deal is to pay for thing in cash, but it's not always an option for many because no one carries enough for big purchases, not safe to carry cash with you and you can build your credit ratings for future purchases like big loans for houses or condos. When you can pay for items in cash it's great for like we all know that you won't pay interest on borrowing money for payments. To have the cash for purchases is not always happening and we all need things, so credit card comes in handy. People don't make enough either for cost of living spending, so credit cards can be a life saver.
