One of the bigger "disagreements" in the personal finance blogosphere is whether or not it's better to pay for everything with cash, use a debit card, or rack up rewards on your credit card (if you
2 RESPONSES TO "ALL GOOD MONEY ADVICE COMES DOWN TO THIS"
Anna
When you're using only cash, you've got no way to track your spending habits (unless you write everything down--and who does?). You're also more susceptible to loss and cashier error. If you have the willpower to control your spending, there are more efficient ways to spend.
April 8, 2008 3:06 pm
Matt Bingham
It's all preference. If you have the willpower you should use a credit card for everything. From going out to dinner to buying toothpaste. Reason being is that there are so many CC companies that offer rewards. You are missing out on free money. That is, if you pay your balance off every month. That's the kicker. Things that you would buy anyway...and if you treat your CC like you debit card you will reap the benefits. Treat it like an income stream and you will...well, you won't be happy for long.
2 RESPONSES TO "ALL GOOD MONEY ADVICE COMES DOWN TO THIS"
When you're using only cash, you've got no way to track your spending habits (unless you write everything down--and who does?). You're also more susceptible to loss and cashier error. If you have the willpower to control your spending, there are more efficient ways to spend.
It's all preference. If you have the willpower you should use a credit card for everything. From going out to dinner to buying toothpaste. Reason being is that there are so many CC companies that offer rewards. You are missing out on free money. That is, if you pay your balance off every month. That's the kicker. Things that you would buy anyway...and if you treat your CC like you debit card you will reap the benefits. Treat it like an income stream and you will...well, you won't be happy for long.
GOT SOMETHING TO SAY?