Cash is king

i don't like credit cards because having one will just tempt me to spend more even if i don't have the money for it..it only disturbs my budget..i always make it a habit to only budget things..if i go to a mall, i always ask myself if what i'm going to there--if i'll just dine or i'll buy something; and what would be my budget for that day..i don't have that much savings yet, but i don't want to spend it anytime..

Hello Kingparker, I shared the same idea as you have written here. I believed in spending from what I had. Recently due to frequent traveling, I need to carry those plastic cards along with me to use at hotels and to book air-tickets. But even then I keep the influence of those cards minimum in my life. As you told, we need to control the spending and should be realistic. Great post!

I totally agree with you. Its safer for us to use cash because we can control everything. When our bank or wallet is out of cash, we know that we should use our money wisely. But credit card is different. Some of the bank will give high credit limit and the credit limit even higher than our monthly income. And i really think that it is not healthy.

Of course it is better to pay cash. But, it is not always possible. Suppose you have just spent most of your available cash on food, but on the way home you have car trouble. The repairman wants money as soon as the job is finished. You have to use a credit card. Then, you finally get home to discover the house had burned down. You are now homeless with no friends to shelter you. You have to go to a hotel. But, a hotel will not give you a room unless you have a credit card or cash. You finally check in, but you are very hungry. You spent most of your cash for food you can't cook right now. If you want to eat, you have to use a credit card. Things get out of hand.

money is valuable.... but its nothing more than life

It is difficult to control yourself when you have virtual money at your disposal. I had a period when my favorite sport was to take out the card and shop. There are so many temptations and I used to buy a lot of useless things just because I could afford them. Now I try to use cash as much as I can. It works for me to have the real money in my hand because I am reminded how hard I worked for them and this makes me more cautious. I don't buy stupid and useless things when I pay for them with cash.

It is a very good suggestion you make. People who have developed bad spending habits with credit cards are often advised to go to a cash basis for awhile. Using cash makes it very evident when you have spent the budgeted money and it is gone. The credit card is such a deceptive fantasy; a tool to be used by our greed.

Living within your means is the best way of controlling your financial situation..Unfortunately for some,readily available credit (Some call them "Debt" Cards!) makes it too easy to get into financial difficulty if you don't have the means to repay..So,Yes,I agree that using cash or Debit cards would be the best way to avoid the problem..

No cash is not king. Let me tell you why. I will spend the same amount of money whether I use cash or credit. I take the effort to keep track of it all. Next, I always pay the bill in total every month so I don't have any interest charges of any kind. What do I get for my trouble. First, i don't have to pay for things until after they bill me. I can draw interest on my money in the bank free for a month. Next, the credit card company pays me 1 per cent cash back on everything I buy. That's just like getting a 1 per cent raise. At some places the cash back is 5 per cent. This is all free money for me. Free extra money is better than plain old cash. Finally, when you pay your bills, your credit score gets really good. Credit card companies send you offers to have their card. Some will pay you money on top of all that cash back just to get their card. Some will give you as much as 300 dollars. Sure, it takes dicipline, but the rewards can be pretty good. Cash?? Not me. It would cost too much money to use cash.

You are RIGHT! is a great difference when you use money, whe you use money you save money,but credit card always cover you extra money when you use it. If you use a credit card and then pay just the minimum payment each month then the debt will go on for years. Probably far beyond the lifetime of the item you purchased and you will pay a great deal more than the ticket price of that item if you include the interest paid. The biggest problem with using credit cards is that thy are just so easy to use. If you are out shopping and you see something that appeals to you but you can't afford at this time then you can easily pay for it with a credit card. You may be pleased with your purchase for a time but the debt will linger longer. Credit cards are ALL about money. It may seem obvious but they are about money & profit for the shop, money & profit for the credit card supplier and money & debt for you. Two of these three make money from your use of a credit card but one doesn't. That person is you.