Cash Money, Debit Cards, Credit Cards, Cheques, Online Banking, Transfers?

checks is the American spelling cheques is the Canadian spelling especially in Quebec

I don't often use cheques either but I couldn't imagine not having a bank account!

And oh, btw, I like the way you spell cheques, same as me.

Speaking of holidays, those are two circumstances when I always use cash rather than a check or debit card ... except sometimes at hotels that require the debit card anyway when you register to stay with them. We have a tight budget for holidays, such as Christmas, so having the cash makes it easier to keep track of the money and know when we are getting close to our spending limit. Similarly, it is very easy to spend a lot of money when on vacation and not even realize how much you have spent until you check the balance in your account. In addition, I do not necessarily trust all the places that might get my bank information when I am on vacation as I do not necessarily know the area and what places to avoid. Therefore, it is also easier to just carry cash when on vacation, especially since there are still some places that will only accept cash, so you are always prepared.

For sure it depends on what you're doing. I always use my debit card for groceries and shopping unless I'm buying big ticket items, then I'll use my credit card and then just pay it off online when I get home. I find I rarely use cash, other than on holidays. I don't like writing cheques but do use them occasionally especially if I have to mail money.

Very true. I find also that if you are using a different currency it is so much easier to get your money exchanged before you go and carry cash. A lot of places don't accept foreign debit or credit cards and if they do there is often a hefty fee attached.

Oh for sure paper money will be around for quite some time yet. I agree technology is a way of accelerating the flow of money. Just look at how quickly we can now buy things from other countries over the internet, all done by technology but we get our purchases and sellers get their money. In earlier days it would have taken forever to accomplish something like that. I just find that fewer and fewer people actually carry money now, myself included.

Right, it is a convenience and its a good thing if managed wisely. The power of the plastic card is limitless. It's impractical to carry around 10 grand. It's not safe.

Not that I would have that much to carry around but yes, I know what you mean!

Yes a lot of credit card companies offer incentives such as prizes or rebates if you use them. For me, it is too tempting to overspend if I put everything on my credit card. That's why I prefer using my debit card, lol.

I turned in my debit card because every card has a maintenance fee and I only need a credit card to have when I travel. But I treat my credit card as a debit card and pay it all every month. Yet I even buy bread and butter with it so that I can get more dollar-prizes. I had over US$500 for my air fare this coming June 30th.

Wow, it's true eh? The banks charge a fee for just about everything so why not just narrow it down to one card. Excellent idea!

No system is perfect, that's for sure and banks are no exception. Although I have never had any problems with banks or even PayPal that's not to say that I never will.

I agree. It will happen some day I believe but I am sure not in our lifetime anyway. But we all do need a budget, after all we need to have money on hand to have as we get older.

Oh I know what you mean about it seeming like an endless supply when you use a card to pay for items...and not just for kids either! lol It's true, it's easier to teach kids about money if you have the actual cash on hand and they can see it. I think it will take quite a long time before money goes by the wayside, if ever. There are just too many people who don't have credit cards or even debit cards right now.

Hey Hatley, how are you? I do all of my banking online as well. I also like to shop online for certain things. I use my debit card for almost everything when I shop in person. It saves me a trip to the bank and besides, I never know how much I'm gonna spend so don't know how much to take out of the bank at one time. I use my credit card for big purchases, as there is usually a daily limit on my debit card. I then just pay the credit card by online banking. I think cheque writing is becoming a thing of the past. The only thing I use cheques for is my mortgage payment. As for cash, about the only thing I use it for is the vending machines at work and the laundry machines in my condo.

A checking account I could live without but definitely not my debit card! It's practically the only thing I use when shopping!

Oh I agree that it's more of a matter of convenience than anything else. It would definitely take a long, long time before cash and coins became obsolete, however, here in Canada they are phasing out pennies. Is that a beginning perhaps?