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Old 08-29-06, 10:52 AM
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Lightbulb Cash vs. Card

Well, it's definitely true for me that I don't pay attention to what I spend when I use a card versus cash.

Before DH left for work this morning, I went to Meijer to get a few things for Charlotte since she's been sick. I needed a couple of grocery items, too. Because our Healthcare Spending Account (HSA) uses a debit card, we are able to make health/wellness purchases with pre-tax money that we have withdrawn from DH check each pay period. So I made two purchases, one for the medical needs and the other for my milk/yogurt.

I went through the self-scan and paid for the medical stuff first (Lotrimin and Vaseline) then the food. I know that I paid $6.57 for my groceries, but I still have no idea how much I paid for the medical stuff.
 


It definitely takes a different awareness to use cash than credit. I know thats how DH and I got into the debt trouble we're struggling to correct now. You just don't realize how much it hurts to spend money unless you actually pay with MONEY!!
 


Just a tidbit from today's experience.
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Old 08-29-06, 11:00 AM
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I agree...i almost never use credit cards unless we are on vacation etc..but i use my Debit card for everything so i guess it's a little better and easier to keep track since it comes directly out of my checking account..just like cash but i can spend more than if i had a limited amount of cash on me
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Old 08-29-06, 11:05 AM
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I use only CC for every purchase because that is what my dh wants to do so he pays one bill per month however I do know I spend way more than I would if paying in cash for things because I have done that when I was single.

Another way I got my spending under control was I put my CC in a drawer along with my checkbook. I allotted myself X amount of cash per week for spending on misc. items. If I went to the grocery store I took the check book. BUT it prevented me from buying stuff on impulse because I had no cash to cover it and no CC so the only way to buy it was to drive home and get the checkbook which was a hassle.
 
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Old 08-29-06, 11:47 AM
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See I'm the opposite. I never know where the cash goes, so I always use my debit card. I keep my reciepts and track everything so I know where I am at all times.

Cash just seems to 'disappear' for me, and I can never remember where it went.
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Old 08-29-06, 04:07 PM
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That's why we "give every dollar a name" before we spend it. We put our budget in writing to assign each dollar a name, so we don't find ourselves, as Dave Ramsey says, "with too much month left at the end of the money."

We used to use our debit card for everything, but we'd come back and put the receipts into Quicken only to find ourselves scarmbling money out of our savings account to cover the overages becase we couldn't keep track of what we'd spent.

No more of that!
 
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