I don’t like cash.
I don’t like to think about how filthy it is–where it’s been and who has handled it.
I don’t like to have it in my purse. I’ve never misplaced money, but to me, it just feels more “losable.”
When I have cash, I spend it and I don’t remember where it goes.
So, I carry just a tiny bit of cash. I have a $20 in my glove box in case I’m out and absolutely need cash, and I regularly get rolls of quarters so I can do my laundry. That’s about it.
Instead of toting twenties, I prefer plastic.
I use my Visa debit card everywhere–Aldi, other groceries, drugstores, whatever. There’s a small rewards program linked to our debit cards, and we’ve earned enough to get a $50 gift card to Outback steakhouse. It should be here soon!
What’s more, I like how my debit card can help me track my spending. I don’t have to write down that I spent $10.26 at a store. My bank already has it logged, and I can link my online bank account to a financial program (such as Microsoft Money or Yodlee) to help me categorize my spending.
I use my credit card for online purchases. I know that I can use my debit card there, but I prefer credit. I can generate a one-time use account number, and it makes me feel much safer.
However, I know that for some people, using a cash-only system works best. You can withdraw a certain amount of money for your weekly expenses, and when it’s gone, it’s gone until your next paycheck. A cash system can work well in those cases.
And, not all stores will accept plastic. I’ve had to leave a few stores empty-handed because of their policy.
What do you use? All one thing? Or maybe a hybrid system?