Cash, Debit or Credit?

Perhaps the prevalent financial question I ask myself on a daily basis is “cash, debit or credit?” It’s so routine that I barely give it a thought.

For small things I wonder whether I have enough cash on hand. I go back and forth between thinking that it’s important to have cash available and knowing that if I don’t have it, I won’t spend it.

Yet, it’s far easier to hand over a debit or credit card than to unclench a fist full of cash. Cash keeps your spending in the moment, rather than thinking ahead to when your next pay date/bills are due.  Cash is hard to track in your budget though, and that’s why I limit my cash use. 

Cards are best for things you may need to reward. I’ve been guilty of losing a receipt or two before, but almost all stores can now swipe your card to get your purchase history. Yes, kind of scary!

Suze Orman has a Back to Cash challenge encouraging us to “get reconnected with your Benjamins!” Aside from my autopayments, I’m ready to take the challenge for a month to see if it impacts my spending. Now I just need to hit the ATM…since I don’t have a dollar to my name 😉

How do you make the choice? 
Would it be a challenge to live on cash?

Sustainable Family Finances
The story of a family creating an abundant and sustainable life.

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