I’ve posted here about trying to use cash for certain things, like groceries, because Dave Ramsey recommends it in FPU. Well, I’m here to tell you that I have given up on cash. I use my debit card for everything except purchases at small businesses that will accept checks. I write checks to save the business the credit card processing fees and I can write a check pretty fast. I hate using cash. I don’t like having cash on me, it’s slow and it’s more difficult to track. With my debit card, I know I spent $2 on a coffee and $1.50 on a copy of the WSJ. With cash, I only know I spent $3.50 today. With my debit card, I don’t have to count out the money and then hand it to the cashier and wait to get change back. I know that statistics show that people tend to pay more with debit cards, but I’m on a very strict budget and have to stay within that budget. I am very good at sticking to that budget.
So, I tried. The only things I’m going to use cash for are large purchases. That way I can flash the cash to get a better deal. Other than that, it’s debit all the way.
How do you feel about cash? Does it drive you crazy? What’s your favorite way to pay for things?