For those who use Debit and Credit Cards

**Englishlady** · 12-16-2005, 05:02 AM

If you can't or won't use cash, do yourself a favour and at least keep good records.

In a note book have a running total of  what you have spent which you can deduct from your overall budget allowance, so that you know exactly where you are with your "virtual cash"

Make a note of the date, the amount and the store you used it in too, this is always useful, if you are ever in a situation when/where card fraud takes place.

Credit Cards:

I often use mine on line to buy things, but unlike most I then do either of the following ( depending on how much I spent)

Note: date/time/place/ amount spent and then PUT THE CASH IN AN ENVELOPE,until the CC bill comes in. OR make a note of the account I will be taking the money from and the balance left in that account.

This takes just a few seconds but saves a lot of worry and memory searching when it comes to statements coming in...................I use all methods, but if you are one of those people for whom debit and Credit Cards are not "real" money, then cash is the best option

**RuthNY** · 12-16-2005, 06:55 AM

Great advice Karen

**Scattymum** · 12-16-2005, 08:32 AM

Good Advice.
I use online banking and a debit card but I keep an excel spreadsheet of everything that is debited off the card so I know exactly how much is left in the account and i can check off purchases as soon as they come off the account.

Also I would urge everyone who has a CC to check your statements thoroughly, in september we noticed a lot of extra stuff taken out of DH CC account - places that he wouldnt have been near or would shop at, one purchase was in selfidges in London??, bit hard as he was in Ireland at the time!). It turned out that the bank had sent him a new card and it had been intercepted and used by someone else, it was all sorted thank goodness but has made us really aware of fraud!

**Telephus44** · 12-17-2005, 02:30 PM

I use a debit card almost all of the time, and a credit card for online purchases (more for the protection). I enter everything in MS Money every single night, so I always know where I stand.

**favesis37** · 12-17-2005, 04:07 PM

great advice! thanks

**Lucky Star** · 12-20-2005, 04:17 PM

I use CC for online purchases (for security/convenience) and for gas (it gives us rebates and is easier to track than multiple debt charges). Everything else is in cash. I am (and so is my dh) one of those people who have trouble budgeting with credit cards. Even with online shopping, I have to be careful. Even though all our CCs offer cash back, I KNOW that I will end up spending way more if I just let myself charge, so the cash back is not enough to compensate for that. I think we'll need at least another year of cash-only living to really get used to sticking to budget

**SHOPGIRL** · 12-20-2005, 08:20 PM

Debit cards don't work for me. I'm terrible at writing things down. I carry a small purse so I rarely carry my checkbook. I'm hesitant to carry cash around with me. So, I use one credit card that I earn miles with. I pay it off monthly. I have the account set up so I can view my account in real time so I can monitor my spending. I just checked my acount last week and I was so excited to see such a low balance. It's really helped me spend less. I don't wait till I receive the credit card statement before I take a look at my spending. I also like this method since it's easy to track my spending.