DELICIOUS
SU
REDDITThe mentalities of spending have been changing over the past year based off the recession and lack of job security. People are budgeting more and studies show that more attention is being put on savings now. One of the areas that has seen less usage is in credit cards. With high interest rates and credit card debt piling up among many Americans, the “I’ll pay later and charge it” mentality is switching.
It’s switching to the “I’ll pay now because it helps me manage my money better” debit mentality. Debit transactions allow a person to track their money better. It’s like paying with cash except actually having to have the cash in hand, something a lot of people feel is unsafe and they are uncomfortable with.
Paying with a credit card forces you to pay more attention to your finances because it is directly being taken out of your account right away. This is a great approach to more routine purchases like gas, groceries that you need without worrying about always having cash on hand. I use this approach all the time then when I get home, take the receipt and add the transaction into my account in my personal budgeting software. I also go onto my bank’s site to make sure the transaction went through properly. When I use a credit card, I always forget about the purchase and the expenses add up too easily. With larger purchases I use credit but for the most part I try to always pay with debit.
What do you prefer to pay with?
