Do you prefer to use Cash or Credit Cards for payment?

@thhoon72 (1009)

Singapore

July 10, 2009 8:03pm CST

Maybe some myLotters have seen this discussion topic 3 years back. But I am very curious to know whether you guys now prefer to use cash or credit cards for payment. For me, I usually carry about $50 in cash, my ATM card and 2 credit cards. I would normally use cash if the amount is less than $20. Any amount from $20-$50, I will use my ATM card, any amount more than $50, I will use credit card. For my hubby, he prefer to use cash and ATM card. He don't bring his credit cards out at all. He always tell me to spend within our means. Hope to receive your response. Cheers=))

2 people like this

37 responses

@faisai (1138)

• Hong Kong

11 Jul 09

I will use my credit card if the shop accept it. I don't really think using a credit card has anything to do with our spending habits. It is just a method of payment and that using a credit card doesn't mean I will use the money that I currently don't have. For instance, if I want to make a purchase of say $100, I will make sure I do have that amount of money in my account before spending it no matter it is by cash, by ATM or by credit card. And once I use the credit card, that $100 is considered spent and I will consider I have $100 less available to spend regardless of how much credit limit the card company is offering me.

@thhoon72 (1009)

• Singapore

12 Jul 09

Hello faisai, I think you got good control over your spending power. But not everyone is like you. That is why there is so many credit card debts in my country. Keep it up!!!

@faisai (1138)

• Hong Kong

13 Jul 09

Thanks. In fact learning to control desire is probably one of the very basic lessons that we all have to learn but that is just not a course taught in the school. I have come along the hard way also. And I do sincerely hope that all of us don't give the credit card company any chances to charge us any interests.

@thhoon72 (1009)

• Singapore

15 Jul 09

O yes, with all the promotions, rewards and interst free installment given by these shrewd credit card companies, temptation are sometimes too great especially by young working adults. It really take a lot of effort to control our desire. Take care and have a great day ahead =))

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@Ritchelle (3790)

• Philippines

11 Jul 09

the only time i had a credit card was when my aunt scolded me to get one. that was like in the '90s. she literally did for she knows that am like my mother: a cheapskate. i never enjoyed it at all eventhough, yes, the cash advances were okay. i've never been comfortable in having a balance i'm obliged to pay. i'm like your spouse: i like spending within my means. no offense to anybody

.

living within my means

never enjoyed a credit card

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@Ritchelle (3790)

• Philippines

12 Jul 09

when i was growing up my mom would tell us that we'd end up broke even if we're millionaires if we spend everything we have. well, that sort of thinking doesn't work for me in spending way below my means. it is the thought of having too much when i cannnot help relatives who barely have any. peace

@thhoon72 (1009)

• Singapore

11 Jul 09

Spending within our means is a good habbit which I have learnt it the hard way. Many years back, I was a victim of my own credit cards debts and it took me almost a year to pay off what I owed them. Have a great weekend ahead =))

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@ANTIQUELADY (36440)

• United States

11 Jul 09

I do not use credit cards at all. I figure if i don't have the money to pay for it i'll just do w/out till i do.

@thhoon72 (1009)

• Singapore

11 Jul 09

Hey, you got exactly the same thinking as my husband. That is why I love him so dearly cos he is the down-to-earth person that make me realised the danger of credit cards. Cheers =))

1 person likes this

@ANTIQUELADY (36440)

• United States

11 Jul 09

I always heard great minds run together.

@jayrene (2708)

• Philippines

12 Jul 09

i prefer paying with cash... when going out i have a certain amount to spend in my wallet. and if there is something more that i really really need to buy but i dont have cash anymore then i use my debit card. i also have a credit card but i dont use it on anything other than spending on major appliances that we badly need at home, like if the washing machine breaks, and i dont have a cash to buy right away, then i will use my credit card. Your husband is right, spend within our means, especially now with the economic crisis going on, its hard to have many debts to pay.

@thhoon72 (1009)

• Singapore

12 Jul 09

O yes, under this unstable economy, nobody will know when they will lost their job. That is why ywe got to really save as much as we can and spend less or within our means. Happy myLotting =))

@cool_bollywood (283)

• India

17 Jul 09

I always prefer to pay from cash only.. since paying from cash did not charge extra money.. and purachsing from credit card we can't control then your expense.. So i always purcahse with cashonly.. But some times when we purchase somthing from Internet then we have to pucchase from credit card.. then i have to purcahse from credit card

@thhoon72 (1009)

• Singapore

17 Jul 09

Yes, using credit cards will let you over spend sometimes cos you won't know actually how much you have spend. I also prefer to use cash or ATM card which directly deduct money from my saving account. Have a great weekend ahead =))

@meyows (438)

• India

16 Jul 09

I prefer to use cash for payment.

@thhoon72 (1009)

• Singapore

16 Jul 09

Hello ther, thanks for you response. Yes, indeed cas is the most easy and basic way to make payment. Cash is accepted everywhere in big or small shops. Cheers=))

@sonz_doreen (193)

• United Arab Emirates

12 Jul 09

I personally think it is wise to withdraw a certain amount and use it! With a Credit card, you are always at a risk for burnouts and over-spending. Why waste when you can save much more. My hubby does the same, he withdraws a certain amount before we go grocery shopping and we use a limited amount. This saves a lot of hassle in the long run since you can actually discard those spending bills.

@thhoon72 (1009)

• Singapore

12 Jul 09

Your way of controlling spending is one of the good ways that we can manage our money efficiently. By withdrawing a fixed amount in a week or a month, you can keep track how much your have spend in a week or a month. I also practice this way. Every month, I will withdraw a certain amount of cash for grocery and other petty cash. I will feel happy if I can have some balance by end of the month.

@snowy22315 (181946)

• United States

11 Jul 09

I tend to use debit cards for my payment. or a credit card that comes from my bank account not only is it very convenient but it also lets me have the security of knowing that I am not going to overextend myself in terms of credit. That is a feeling of safety in these troubled economic times.

@thhoon72 (1009)

• Singapore

12 Jul 09

Yes, yes, many people prefer to use debit card or credit bank with a bank account as compared to normal credit card. This will help in curbing over spending especially in such unsatble economic times where you can lose your job anytime.

@savypat (20216)

• United States

11 Jul 09

I carry very little cash, I use a debit card but I keep close watch over my account on line.

questions and answers

@thhoon72 (1009)

• Singapore

12 Jul 09

Debit card is a good alternative as cash cos you only spend the amount of money in the account. Think it is a good habit for everyone to plan and spend their money wisely. Cheers =))

@sonusd (1547)

• India

11 Jul 09

Cash - cash is not safe mode because of Risk

I do not have credit card so i generally pay everything by cash but some time when I shop on line they can not accept cash from us so they need a credit card and at that case i give my father's credit card .

@thhoon72 (1009)

• Singapore

12 Jul 09

Yes, yes, credit cards are indeed very useful when you are doing online shopping or ordering through telephone. Credit cards are very convenient and easy to use but myst use with caution. Cheers =))

@cndn420 (2062)

• Canada

11 Jul 09

honestly, i am a debit girl. i use it all the time. i barely carry cash on me, i know i would spend it if it was there LOL ill have some cash on me for buying coffees or what not, but mostly its debit. i only use my credit card for big purchases :)

@thhoon72 (1009)

• Singapore

12 Jul 09

Sound very similar to me. Your debit card is similar to my ATM card. I will try not to use my credit cards very often only for huge amount of money. Cheers =))

my_name_is_coco

@my_name_is_coco (4333)

• Philippines

11 Jul 09

I prefer using cash.I don't have a credit card.it is much better for me not to have one so I can curb my spending.if I have,I would probably drowned in debt now.

@thhoon72 (1009)

• Singapore

11 Jul 09

Hello coco =)) Yes, you will drown and probably die in credit card debts. Using credit card is very dangerous and will result in overspending if you are not careful. So, you are right to stick to cash. Cheers =))

@bingchen (1119)

• China

11 Jul 09

i like to use cards for payment,i find that using credit is very convinient, and i could not take some money for payent,especially when i pay for my tuition, i don't need take a lot of money from the bank and give in to school,i feel that very trouble,so using credit cards for payment can deal with these trouble,make thing very simply,convinient,

@thhoon72 (1009)

• Singapore

11 Jul 09

Yes, credit cards are very convenient and easy to use when you are paying big amount of money likt your tuition fee. But it must be used with extra care cos you will tend to over spend with credit cards. Cheers =))

@pyre82 (103)

• Philippines

11 Jul 09

if you have cash don't use your card. The tendency of preferring card rather than cash makes you more shopaholic hat if you have on a tight budget on day you should pay your credit card bill of course it will accumulate for more interests and you will be charge for not paying on time.Although, i have 2 credit cards i don't use it that much unless it is very important and i have no cash on that time. be wise use cash so you know how to stretch your budget.

@thhoon72 (1009)

• Singapore

11 Jul 09

Yes, yes, I am very simila to you =)) I also got only 2 credit cards which I use them only when absolutely necessary. I learnt a painful lesson previously when I got badly burnt by credit cards. So, i am glad that I am able to get out of it and that now I am very careful about using credit cards. Cheers =))

@purplelilac (169)

• United States

11 Jul 09

I use my credit cards to pay bills and for casual spending. Then I pay what I spent that month back when the payment is due. There is one company that I don't like recently. The company merged and the card has given me problems since. It's good to pay attention to any new terms.

casual spending

@thhoon72 (1009)

• Singapore

11 Jul 09

If you are able to pay back everything to the credit card company by end of the month, tehn it is ok. But if you can't, then the interest and late charges these credit cards company charge is really very high. Take care when using your credit cards. Cheers =))

@kmaram (2533)

• Philippines

11 Jul 09

Hi there, i use cash for everyday expenses. I only use my credit card if its really needed but if not i prefer to pay by cash. I am glad that i trained myself not to use credit card because if i i am sure my debt was over and over with my budget. And its good also that when you use cash you dont have anything to worry that there will be bill coming up. Till here, hope i can make sense keep on mylotting

@thhoon72 (1009)

• Singapore

11 Jul 09

Yes, yes, those credit card bills coming in by end of the month really can give people heart attack. You just sign and sign without knowing that you have already exceed the amount you can afford. It is really good that you have trained yourself not to use credit cards. Cheers =))

bookreadermom08

@bookreadermom08 (5614)

• United States

11 Jul 09

Cash for me all the way... I got burned on credit cards about 10 yrs ago and got into trouble with my credit and have been paying for it ever since!!

so now that I am trying to get out of debt and rebuild my credit I only purchase prepaid visa cash cards...and not even the reloadable ones I dont even want to deal with those just yet!! LOL Happy mylotting.

@thhoon72 (1009)

• Singapore

11 Jul 09

Hmm... think both of us learnt our lesson well. it was indeed a very painful lesson for me. Although, I still got 2 credit cards, I am very very careful of using them. Cheers =))

@doryvien (2284)

• United States

11 Jul 09

I use cash for buying regular items like groceries, kids' clothes, gas, etc. As much as possible I avoid using credit cards, except for things that I have to buy online and establishments that only accept credit cards. I prefer using cash in my transactions because it's easier to manage than the credit card which at first glance appears handy and sometimes seems "unlimited" only to find out later how deep you've fallen into the trap.

@thhoon72 (1009)

• Singapore

11 Jul 09

O yes, credit card is a very dangerous trap that anyone can easily fall into it. I was a victim myself many years back. It was a painful lesson that I have learnt. I am glad that now I got better control and planning of my spending. Cheers =))

@julbau18 (273)

• Philippines

11 Jul 09

I dont have a credit card so I cant give a comment regarding the experience of using that as payment. According to what I observed from others it is very easy and comfortable to carry a credit card. Also it is secured because your not carrying a huge amount on your pocket. But credit card has a disadvantages, it includes interest every time you use it. So I prefer using Debit card instead because I only consume the amount of money on my card and I can control myself from my unnecessary expenses.

@thhoon72 (1009)

• Singapore

11 Jul 09

I also think that debit card is a good alternativ to cash and you won't over spend with debit card too as you can only spend whatever money you have in your account. Have a great weekend ahead =))

@thrupages (97)

• Philippines

11 Jul 09

I don't know where I got the phrase but I call credit cards as expensive money. I'd rather budget my cash at hand.

@thhoon72 (1009)

• Singapore

11 Jul 09

That is really a very good habbit that you budget your cash at hand and just spend within your means. Indeed, credit cards are expensive money with all the interest and late charges factor in. Have a great weekend ahead =))