You know what’s the pits, though, is that if we ever do get out of debt, we can’t completely wean ourselves from plastic because you can’t stay at a hotel or rent a car for that great vacation without plastic. The big hotels don’t take cash upfront I believe.
I dont see this an issue. Once you are out of debt get yourself the best rewards card you can find, whethere it be a cruiseline or airline or just merchandise. And only use it for what you can pay off immediately. You will get the best of both worlds.. They dont get any money off of interest and you get what you wanted.
That’s where the Debit Card will come into play. But the original poster to which I responded was trying to get away from credit cards AND debit cards.
I love my debit card….Just keep track of what’s your spending so you dont’ spend more than what you have!!!
As long as your debit card is rejected if you don’t have enough money to cover the expense, you will be fine.
If your account has some kind of automatic “courtesy” (what a friggin’ joke) limit, it will allow the debit to go through, charge you a stiff (EXPENSIVE) fee and you find out about it after the fact.
At our bank, if you are off, even a penny, the debit will go through, we get charged $30 per transaction and are “saved the embarrassment of being turned away” – AS IF.
For example, my husband underestimated where he was, a day or two before payday. He bought gas, DEBIT, it went through. No problem.
Later, he ran to the grocery store for a few things, DEBIT, it went through. However, another purchase also went through at the same time from the day or so before and together, he went a couple of bucks into the negative. Remember, he was getting paid via Direct Deposit in another few hours. Those two items both went through, each costing us $30, so another $60 came out of the account and for nothing. I would have much rather had the DEBITS rejected at the checkout line. Cheaper and less headache.
Now, he gets cash. I get cash. We don’t risk the debit card. Too expensive.
Literally the EXACT same situation occurred with me now I check my accont online daily and keep a chushion of about $100 in my checking account I had racked up $120 in overdraft fees on tiny things that cost like $5 cause I thought i had the money, but my car note went thru on a date i wasnt expecting. oh it was NOT fun