Do You Prefer To Shop With Cash?

Discussion in Misc & Others started by Denis Hard • Dec 15, 2015.

  1. Denis Hard

    Denis HardWell-Known Member

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    When you aren't buying anything online that is.

    Last year when I used a debit card to pay for all my purchases I realized that I spent more money than I paid for everything I paid for in cash. I've been shopping with cash this year and it has helped me save a lot of money because when I go shopping I take with me only a set amount of money that will buy only the things that I have on my shopping list.

    If you can do it, try it some day and I'm certain you'll note a difference.
     
  2. Theo

    TheoWell-Known Member

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    I have switched from cards to cash too, because it's easier to keep track of and I don't have to think about too much. I prefer to know what I am spending and also it makes me check on the spot, as you have to with cash. I don't like the idea of contactless payment, I know it's the way forward, but I still like to physically hand over cash these days.

    The only time I use cards is for big items where I know I need a receipt in case I need to return it, or a service where I need proof of something.
     
  3. MrsJones

    MrsJonesActive Member

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    @Denis Hard@Denis Hard I had this idea that a debit card aka check card was the best creation yet as far as money. No more writing checks, balancing checkbooks, gets you through the checkout lane quicker... but that appeal has changed. I found it was way to easy to spend money on a whim with it. So now I keep about $20 with me and I seem to have that $20 for a long time now:D.
     
  4. Taraa

    TaraaMember

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    Spending money on shopping is not the matter i love to do it but yeah, I agreed with you if you are at a shopping place with limited budget so you will shop accordingly but carrying cash with me is really a difficult task, I used to shop through my credit card.
     
  5. gata montes

    gata montesActive Member

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    No doubt about it - getting into the habit of shopping with a limited amount of cash is a great tip and especially so - for those trying to stay within a budget and who have a tendency to spend more when using a card.

    That said - one thing to be aware of with this method - is that - as not everyone has the luxury of withdrawing cash without having to pay a fee - it may actually be way more cost effective to use the other option of using a debit card - but curbing spending by sticking to a list and only buying what is needed and can be afforded - particularly as the fees from making regular ATM withdrawals could easily wipe out any potential savings.
     
  6. DrRipley

    DrRipleyExpert

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    I prefer to spend cash instead as well because I'm more able to keep track of my purchases. The only problem I have with it is that it's a bit inconvenient sometimes when you have to withdraw if the amount you're carrying comes up short. Also, sometimes I choose to pay for cash on delivery for certain items I buy online or for when I buy food from restaurants that offer delivery service, and making sure I have enough cash at home to pay for it can sometimes be a bother, but if think the trade off of keeping better track of my spendings is worth it.
     
  7. MyDigitalpoint

    MyDigitalpointActive Member

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    I usually pay with cash most of my expenses, however sometimes I found myself carrying my debit card and this is really bad because if cash runs out before the expected, I can always use the card to pay for extras, and spend more money that the maximum amount I thought to spend.
     
  8. Corzhens

    CorzhensWell-Known Member

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    On the contrary, I prefer to shop with my credit card. I am good in accounting and have this habit of accounting all my purchases. I collect the credit card purchase slips and encode the numbers in a spreadsheet. With that, it is easy to determine if my fund can still cover my purchases. But the best tool is to have a budget for a particular shopping trip otherwise it is normal to go over the budget that will ruin your finances.
     
  9. MyDigitalpoint

    MyDigitalpointActive Member

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    Thankfully you have good accounting skills because shopping with credit cards is even more risky than doing it with debit ones.

    When you buy with cash, you can only spend what you have in hand; when you are carrying your debit card, you may exceed your budget or planned shopping, but you can never go beyond the money you already have.

    However when you use your credit cards, you are spending virtual money that you may not have physical in the bank nor stashed at home, but is part of your credit limit to be repaid by the due date on the balance, and here is problem begins for most of us.

    I you pay the total shopping balance off, you are playing safe, but if you cannot afford to repay in full, you can still make a minimum payment, and here is where interest rates may ruin your finances if debt runs up from here.

    Personally I cancelled all my credit cards to avoid a financial disaster to repeat. I was insanely collecting credit cards from almost each and every bank and store, accruing around 30 of them which, at some point eight years back, took me near to declare bankruptcy.
     
  10. Ke Gordon

    Ke GordonWell-Known Member

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    Shopping with cash is painful for me because I hate turning it over. Generally, I will shop with a debit card. I rarely have cash in my hand. I know that you spend less when you shop with cash...but as I said I rarely have it on me. Everything is direct deposit these days or in paypal...so I don't see an advantage to pulling the cash out to shop with it...I am the type of person anyway, even if I say I will limit myself to 25 dollars say, I will use plastic for the other two dollars just so I can get what I want.
     
  11. sidney

    sidneyWell-Known Member

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    Yes, I don't have a credit card and my debit card is only used for online transactions, so I always shop using cash only when I am shopping in real stores. Even if I were qualified to obtain a credit card then I don't think I would even get it so that I won't be spending above my limits.
     
  12. xTinx

    xTinxWell-Known Member

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    I most definitely prefer to shop with cash. I have two debit cards but I hardly use them to pay for my purchases. I'm afraid those little extra charges will eventually take a toll on my savings. Moreover, shopping with cash also disciplines the buyer because it instills a fear of exceeding one's budget. People don't usually see credit/debit cards in the same way. The "swiping" method gives the illusion of financial invincibility, egging users to spend more rather than save. It's better to pay cash just to pique your conscience.
     
  13. Krissttina Isobe

    Krissttina IsobeWell-Known Member

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    :oops:Llike Sidney I have both debit and credit card. I buy just what we need and nothing more. There are a lot of things I want and need, but I budget with spending with my debit card, so it does save us money.
     
  14. Jasmine2015

    Jasmine2015Active Member

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    I could definitely improve on my accounting skills. I think I like the idea of spending cash vs debit for a reason. When you have to spend cash you are literally watching your hard earned money being spent. Then you have to question if whether or not what you are buying is justified or not. With a debit card all you see is "plastic" and think only of how convenient it is to not have to count every penny. I even have noticed this in commercials where you have one guy having everyone else upset because he is counting his change versus doing a quick swipe. At the end he is happy because he has a card and us no longer holding up the line.
     
  15. cocolgooh

    cocolgoohActive Member

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    I prefer to shop with cash because this means I won't be tempted to go over the budget I have. In fact I rarely shop with my card anymore. It does annoy me a bit to end up with lots of change though. Sometimes they end up giving loads of excess small change instead of larger coins and then you've got to keep counting it out.
     
  16. Ke Gordon

    Ke GordonWell-Known Member

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    i don't usually have cash available. I did shop today with cash because I had some, but normally it is card all the way. Shopping with cash means I have to withdraw money as almost all my cash goes right into the bank account. It is inconvient because I have to buy something at the store to avoid ATM fees. The only free ATM's are lat the bank itself which is a good 20 minutes from here.
     
  17. steph84

    steph84Active Member

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    I usually just use my card everywhere, but I do use cash when I am buying gifts for Christmas. It is so easy to just swipe and buy the things that you want, but if I shop with cash then I have a budget and I force myself to bargain hunt in order to get everyone on my list.
     
  18. DiscountDreams

    DiscountDreamsActive Member

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    I use cards now everywhere for convenience's sake. It's harder to steal my wallet if you also need to know a special little number for the cards, and I can always just be like...bruh I have like $3.50 on this card. I have a bit of money but I dress quite humbly because it also lets you peek into people's souls ;)
     
  19. ACSAPA

    ACSAPAWell-Known Member

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    I don't really like cash because when I use cash, I get coins back in change instead of the odd amounts just staying in my bank account. If I buy something for $1.50, I'd rather have the other 50 cents stay in my bank account than be given to me as change, because coins get lost or spent easily.
     
  20. Jason76

    Jason76Active Member

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    Lately, I've been in the habit of putting some money on a fast food card. That way I can manage money better. Nonetheless, it's probably not healthy to eat fast food all the time, even though I mostly order breakfast burritos and hash browns which seem more healthy.

    Anyway, besides the fast food cards, I always carry cash to pay for stuff not gotten via a computer. However, I'd like to start getting into buying gasoline cards.