<< Back to all Blogs
Login or Create your own free blog
Layout:
Home > Debit Cards

Debit Cards

June 18th, 2007 at 10:55 am

Oh, this little bugger has been my greatest downfall, I am sure. But, with all of the great advice, and VERY wise, frugal people here, I am curious to hear your take on debit cards.

Long before my life got so hectic, I used to just go to the ATM, and take out how ever much cash I needed at one time, and try to make it last.

Then, Microsoft money came out, and I decided that in order to better "track" where I was spending, and on what, that I should use my debit card for everything, and never carry cash.

Well, I end up using my debit card for anywhere from 2-10 transactions per day. AND I have most of my bills set up on automatic payment from Wachovia, so there is a constant stream of $$ going out of my account, and no way to stay on top of it, without logging on every day, and well, I definitely don't have time to do that every day (and my subconscious stops me when I do)

So - what is the best way to handle the little expenses? Cash? And what do you use your debit card for? And how frequently do you use it? And how do you keep track of everything coming in and going out?

Posted in Uncategorized | 6 Comments »

6 Responses to “Debit Cards”

  1. robex Says:
    June 18th, 2007 at 11:00 am 1182164447
    1182164447

    We use cash for the little expenses and Visa (paid off fully every month) for the bigger ones.

    I only use the debit card for groceries. Dh has NEVER used the debit card...he thinks it's a bank card, so he'll only use it to take cash out of our bank because he doesn't want to pay the extra charges. Smart man!

  2. Ima saver Says:
    June 18th, 2007 at 02:37 pm 1182177477
    1182177477

    I have never used a debit card in my life. I have always (40 years) used the envelope method. All bills are written down and I put cash in the envelopes on a weekly basis. Then I take it out when bills are due. I keep no extra money in my checking account ever!

  3. LdyFaile Says:
    June 18th, 2007 at 07:09 pm 1182193749
    1182193749

    I pull cash out for groceries and gas. All my bills are paid electronically. The debit card just gets used for prescriptions and other incidental stuff that I have a small amount in the budget for every month. That way I don't have to keep track of all those darn receipts.

  4. baselle Says:
    June 19th, 2007 at 02:12 am 1182219170
    1182219170

    Cash mostly for the daily expenses. Once in awhile I will pull out the debit card for the recurring expenses or for something larger than what I have in cash.

    I follow my accounts in two ways - I log all transactions of my accounts on my palm PDA using My Checkbook, and I reconcile the checking account every couple of days online. I know what I have at all times. I used to hate reconciling bank statements, now I do it continuously so its not too onerous.

  5. boomeyers Says:
    June 20th, 2007 at 02:18 am 1182305922
    1182305922

    I am a debit card abuser. I use it for EVERYTHING and taking out cash. Walgreens is my biggest enabler. I can buy a pack of gum and take out up to $100 cash. Then overdraft kicks in, then it goes to the limit and I panic. I had really gotten this under control and now I have fallen off the wagon! Frown Long way to go. Chop the sucker up?

  6. JARRED JOHNSON Says:
    January 8th, 2009 at 08:07 pm 1231445237
    1231445237

    Bottom line, the bank debit "Checkcard" product sold to you at banks are a scam. It's a system designed to allow you to overspend, then the bank processes the transactions in the order THEY decide. The items clear your account starting with the most expensive to the least, and that allows the bank to charge you overdraft fees on the majority of debits you made with this piece of plastic. Bottom line, CHOP IT UP. DO NOT USE A CHECK CARD of any kind ever. Use a pre-paid card. You can get these cards and personalize them, and you will never suffer an overdraft again. USBANK charges $37.50 per item overdraft, and it obviously doesn't take long to rack up hundreds or thousands of dollars in debt.


Leave a Reply

(Note: If you were logged in, we could automatically fill in these fields for you.)
*
Will not be published.
   

* Please spell out the number 4.  [ Why? ]

vB Code: You can use these tags: [b] [i] [u] [url] [email]