If you're like most people, you use plastic for many of your daily purchases. Since more places take credit or debit cards and many of these cards offer rewards or cash back, it is no wonder they are so easy to use. But this convenience can come at a cost. If you don't keep detailed records of your spending, using the card can lead to spending more than you normally would.
When you use cash for your regular daily purchases, you have a physical connection to your available money, and you can visually see how much you have and how much you spend. With a card, it's all digital and you may not review your purchases until the end of the day, week, or even month. By then, the money has long been spent. But with cash, you open your wallet or purse and immediately know how much you have available to spend, and it may keep you from buying something you don't need. So, if you have trouble keeping your spending under control, you may want to consider giving cash a try.
Excellent advice.
Using cash is one way that we can “force” limits on spending. OTOH, with credit cards unless you’re near your credit limit, there is nothing that keeps spending in check, other than our own discipline… so how’s that workin’ for you??
Great read, I did not know this!
JenniferSmith