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Posted on 5/14/19 at 8:11 am to Datfish
I still write checks. Don't trust cards. Think we need a little more time to ensure that technology is sound.
Posted on 5/14/19 at 8:15 am to KG6
I'll never understand why people trust checks. It literally has your Bank Account Number and Routing Number printed on the front. With how easy direct deposit is these days I'm surprised more people don't get cleaned out that way.
Posted on 5/14/19 at 8:18 am to HempHead
quote:
TIL the OT is full of mastermind financiers with no bad habits that pay their credit card bills on time for those sweet, sweet rewards.
There was a multi-page thread recently full of posters like this. It was funny. They basically said you were a moron if you wanted to avoid the risk of credit card debt.
Posted on 5/14/19 at 8:24 am to GetCocky11
quote:
They basically said you were a moron if you wanted to avoid the risk of credit card debt.
Honestly, what is the risk if you aren't going crazy with your spending. If you have 10k sitting in a savings account, what is the risk of putting 2k on a card each month and paying it off? Is the risk in forgetting to pay it?
Posted on 5/14/19 at 8:30 am to KG6
The risk is overspending on the credit card every month and dwindling that savings account down to nothing. Then you get used to that overspending and there's no longer that buffer in savings to cover it, so the credit card debt starts piling up with the overspending. Wife and I went down that road about 10 years ago when we first tried this approach.
We've matured a lot since then and it works for us now. We're certainly not financial geniuses by any stretch of the imagination, and definitely still overspend some months.
We've matured a lot since then and it works for us now. We're certainly not financial geniuses by any stretch of the imagination, and definitely still overspend some months.
Posted on 5/14/19 at 8:31 am to Winston Cup
Sitting on 750K capital one points
Posted on 5/14/19 at 8:33 am to Datfish
Yes.I like keeping enough cash to cover everything,but use it on occasion.
Is there any reason to not have confidence in using a Debit Card for every purchase?
Is there any reason to not have confidence in using a Debit Card for every purchase?
Posted on 5/14/19 at 8:34 am to The Spleen
quote:
The risk is overspending on the credit card every month and dwindling that savings account down to nothing
You can do that with a checking account and dipping into savings to cover your spending each month.
quote:
he credit card debt starts piling up with the overspending.
That's a discipline thing though. Credit cards have in no way, shape, or form changed my spending habits. I just pay for things with a different card. Allowing credit to change your idea of what you can afford is risky behavior. Credit itself is not the problem.
Posted on 5/14/19 at 8:37 am to Datfish
I haven’t used cash for 2 1/2 years. Usually don’t get receipts either. Every cash transaction I make pops up instantly on my watch. I’m loving the 21st century.
Posted on 5/14/19 at 8:45 am to Datfish
i use it primarily to link to venmo/cash app and occasionally to get cash from ATMs
Posted on 5/14/19 at 8:47 am to Kentucker
90% of my purchases are done via debit card.
Posted on 5/14/19 at 8:47 am to Datfish
I keep mine in my safe. I only take it out when I need cash from the ATM
Posted on 5/14/19 at 8:47 am to KG6
quote:
You can do that with a checking account and dipping into savings to cover your spending each month.
Yeah, but when that happens the debit card will eventually stop working and that will force many people into changing their habits. With a credit card, those charges still go through assuming it's a card with a high enough limit.
Posted on 5/14/19 at 8:56 am to Datfish
I use mine at Spec's. 5% discount for using cash or debit card.
Posted on 5/14/19 at 8:58 am to Winston Cup
quote:
When do the Amex whores come in and tell us all about their points?
5% cash back, why wouldn't you take advantage of that.
This post was edited on 5/14/19 at 8:59 am
Posted on 5/14/19 at 9:01 am to Datfish
I use my debick card for 99 percent of my purchases.
I recently cancelled my credick card and locked it in a drawer. I got too handsy and impulsive with it.
I find that my debick card is a check card and i use until what I've budgeted for the bi weekly pay period is spent.
I recently cancelled my credick card and locked it in a drawer. I got too handsy and impulsive with it.
I find that my debick card is a check card and i use until what I've budgeted for the bi weekly pay period is spent.
Posted on 5/14/19 at 9:02 am to Datfish
Yes, but it’s really only used for small purchases. I keep a close eye on my purchases with it.
This post was edited on 5/14/19 at 9:03 am
Posted on 5/14/19 at 9:25 am to Datfish
Nope. Cash or credit.
Get screwed on CC the bank waives. Debit gets stolen you're SOL.
Posted on 5/14/19 at 9:27 am to boom roasted
quote:
only use it for ATM's. Everything else goes on the credit card
X3
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