I seldom have any cash in my wallet. When I’m out shopping, I typically use our debit card. For our monthly recurring bills and our gas expenses, we put those on our rewards credit card and pay the bill in full every month.
It’s a system that I’ve used for a long time now, and while it works for me, I’ve found that I’m becoming a bit haphazard in my use of the plastic. I’m just not paying as much attention as I should.
I’ve had a few shopping trips where I’ve left the store without even making a mental note of how much money I had just spent. Just swiped the card and put the receipt in my purse to look at when I got home.
I can’t help but wonder if I would do that if I paid in cash instead of using plastic. The beauty of using cash is that when you’ve spent it, you’re done. And you keep closer tabs on it since you don’t want to embarrass yourself in the check-out line when you come up short.
But I like the consumer protections of the plastic. I’ve had my wallet stolen before… and I was able to cancel all my cards right away… And I didn’t have any cash to lose.
So, what do you think? Is it better to pay with cash or with a card? Is there a middle ground somewhere?