I am more confident with cash. Card puts me of a lot of financial debt because it is hard to control the urge to swipe it. With cash I can limit what can I spend. I only use cards for online transactions. There is also a lot of risk if you end up losing your card due to circumstances.
I prefer to carry cash with me only.Because you don't know when and where you will need to buy things. Card is also good but I am afraid if I lose my card then complaining and all other things are harder. I can't visit bank again and again to made them realize that I have really lost my card.
I think that a debit card is quite convenient and I usually pay with it, but the thing is that some stores even today don't have a card reader so I keep a small amount of money always with me. In that way I am care free and I know that I can pay things either way.
Using cash makes it easier to watch how much we spend, but at least prepaid/debit cards won't allow us to go into debt...just to run out of money too fast!
ATM makes no sense if we can pay directly in the shop, which is usually the only benefit of any card system. If a person has to lift money on ATM, because he/she better likes cash, in that case it is better to get rid of a debit/plastic card and withdraw directly on a bank. Maintenance of the cards costs as well, I know that I am paying every month just to have mine.
I think both are essential. You can bring a sum of money in cash for minimal purchases or fare if you have to take public vehicles. For cards, it's for bulk purchases or bill payments. Cashiers already accept card payment so it's very convenient. The thing I find it advantage with a card is that when it's just not your day and someone snatched or rob you, your money is still in the bank and you can do something about it like having it blocked so it cannot be withdrawn. Unlike with cash, if you carry a huge amount of money and you got robbed, everything is gone in the wind. You can't have it back. It will be risky, too if you'll try to fight with the robbers. It might take your life for instead. So never bring a huge sum of money, have it kept in your bank.
I'll be honest, I feel NERVOUS with a credit card/bank card. So much is resting on that one little card. If you lose it...you have to go through so much trouble to hurry up and have it cancelled, worry that someone is already using it, then wait for a new one in the mail, etc. etc. Besides that, my numbers have been stolen a few times (probably online)...and sometimes even when I shop at Walmart. Not sure how it happens, but it seems I've run into that problem twice now, and both times were right after using the U-scan line at Walmart. I like Walmart, not trying to speak against them or anything, but I just found it kind of strange. So I'm never really sure if it happens from online shopping, or at Walmart. Anyway, cash just feels a little more old-fashioned and safe to me. Cash is right there in your hands, and you can keep tract of it so much easier. With my credit/bank card, I always get this guilty feeling right after using it and then checking to see how much I have left.With cash, you know how much you have left.
I believe ATM cards helps us to access the money easier by visiting a bank and withdrawing. I also used to think there was monthly maintenance fee at my local bank only to find it was removed. I only pay $7 once for the card and when I need to renew or replace it. I completely understand that feeling. I used to get nervous carrying my card around for the first few days but now I see it as a normal card. Sorry to know your numbers have been stolen. You need to find out where exactly it happens and also check if there are other complaints from other customers. Cash is better That is what I like about cards. When you get robbed, it is easy to replace with just a small fee compared to someone who has lost a large amount of cash.
I know right @mildredtabitha. There's a huge risk bringing a large sum of money when we go out. The world ain't safe no more. It's better safe than sorry. Right?
It's true that cash can be use as an effective way to control expenses on a daily basis and that's the reason I can say that you're right by saying it's a way to reduce spending excessively. So, it's a nice way to reduce that.
Yeah, it's riskier to go with the card for it is an access to all the cash one can have in their bank accounts and that's the way I felt few days ago when I was out having fun with friends and family members. Having the card with me made me felt unease and always checking to see that I'm still with it. This won't have happened, if I went with just cash.
I am using a lot of debit card lately. And it seems to be working for me. You can see that carrying a lot of cash can be bad in many ways. And so I prefer not to make use of the cash most of the places. And I'd be getting more optimized approach here for the same reason. I think card can be good for the quick transaction where you want to spend the same. I don't think any other option is there specifically.
Honestly, I would be more comfortable going out with both cash and card for emergency sake, should card fail me in making payments or sorting out deals, I would easily settle with cash and go my own way without feeling embarrassed. Sometimes, banking networks can be very messy here and can disappoint you when you are in serious need to make use of your bank credit or debit card. This is why I prefer having both with me in order to avoid unnecessary insults. I would resist not going out with cash is only dependent on the place or destination I'm heading to, if it's a place I'm not going to be comfortable going with cash, I would simply go with card in order to be on a safer side and avoid getting robbed.
I would agree with you a little on this but on a second thought, I would say that it's only when you are found in a bad environment where hoodlums would force you to make withdrawal with your card for them that going with card will be a bad idea. Even if you are to lose the card, it's pin protected so it's definitely not going to be easy for the picker to make use of it unless it gets into the hands of bank card cracker but we both know that it's hard to come by such people. And you can easily go to your bank and deactivate the card immediately you lost it and the whole story dies off.
Your point is nicely put. I remember two months ago when I could not withdraw any cash from my local bank account. They were doing maintainance for the system and I had to wait for 3 days. In such a case, cash would have been convenient but I never had enough and had to postpone shopping for some things for 3 days. I agree that having cash can save us in cases where card won't help or is not needed.
Exactly what I'm trying to say. I have actually had such experience and it was with paying of my school fees. It was an emergency and I needed to make the payment and get my receipt for a pass to write my quiz but the bank service failed in the process and I couldn't make the payment using my card. It was a frustrating day for that day as I missed the quiz and had to pay fine for not writing when others did before I was given the opportunity to write mine with the cutting off of 10 marks from the 40 marks as part of punishment.
@annitha This is so true, some stores don't have POS, even if they do it won't be in good working condition. It's either its faulty or no service, one story or another and such can be a serious inconvenience to some that have an emergency. So considering all these, it's better not to trust 100% on card because circumstances might result in it failing and leaving you stranded and embarrassed.
I do carry both. not everything is automated here in our place so I still need to bring cash. Bit just to be safe I just carry around a few bucks and just get some cash from ATMs if ever I would need some.
This actually the same story with most developing nations, they still feel more comfortable dealing with cash at hand transactions than digital payments and having your payments done in automated way. Abroad functions in a cashless economy, one hardly move about with cash because everything is done and paid with most likely Point of sale terminal. Those that deal mostly on cash are likely people who have something to hide from the authorities because ones transaction paying with a card will flag such person to the authorities if he is under surveillance.
