Ask:
Right now we only have two accounts. One set aside for "savings". And then the other one. I am trying to figure out how to separate that account so money is not taken out and I always know the money for the bills will be there.
Now dining out - fast food is a MAJOR expense. I cannot get dh to pack a lunch. Well he goes in phases. So I know with that I should get out a set amount of cash and make him stick to that.
But what about gas? We always use the debit card to pay at the pump. I have three kids that I don't want to leave in the car and I don't want to trek into the store. Do I set up another account just for gas?
Also groceries and household shopping. Do you all take cash for that?
Basically I LOVE my debit card. I almost never even have a $1 in my wallet. I also do not want to set up 6 different accounts because I know somehow I'd end up bouncing checks on all of them.
So what do you do?
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I pay cash for almost NOTHING. I have a charge card where we get a rebate, so if I charge things I'm actually making money. So I charge everything I can. Now the only catch is that we pay off the whole balance every month so we don't pay any interest. If people have trouble managing their money and get into debt, then I think they would be better off doing cash.
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I also have one credit card. It has a no interest rate. At the end of it's no interest line the balance gets changed over to another no interest card. We have a balance because of me not working and things breaking down. We are working on putting all remainder of money left at th end of month towards the balance. We NEVER make the minimum. Always more. We take out $4o a week for pizza night, a movie.
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we pay for everything with cash...no credit cards here...I have the debit but I have never used it...my account is used for pp.
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We pay for everything with credit card. We have a upromise card so we earn cash back on every purchase. I have the same problem with keeping cash in my wallet. And I worry about bouncing things if I start taking the cash out. Plus, with the credit card statement I can see where all of our money goes (can you say Kroger and Target)...
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We have a bill account and DH transfers money to another checking account. I use it for groceries, haircuts, small bills (magazines), school stuff that comes up, etc.
I also bartend, so I personally use cash a lot, as I don't go put all of it in the bank.
We use the debit card from the bill account for gas.
We are trying not to use the credit cards, even if we know we can pay them every month. I just don't feel comfortable with that. I think I'd spend too much and not have enough to cover it. And who wants to pay interest on gas and groceries????
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I try to write a check for just about everything. We do have credit cards for unmanned gas stations, internet purchases and the like. I am ~trying~ to pay them off to a point where I can afford to pay the balance every month. Right now I pay more than I charge a month.
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Hi, we too, have a credit card where we earn cash back but we are using cash more and more. We only use the card for Home Improvements (ie finishing the basement) and gas. Regular bills (mortgage utilities etc) we use checks. EVERYTHING else is cash. We find that you spend less when you pay cash b/c it is more "painful". So who cares if I make cash back on the cc if I already overspending??? So, we truly use cash. Try it for a week - you'll be surprised.
Oh, prepackage leftover meals for your dh - that way he doesn't have the excuse!!
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We have a credit card where we earn cash back also and we use it for just about everything. I hardly ever have cash with me. And we have a budget that we stick to in order to make sure we don't overspend each month. Then we pay off the balance when we get the bill. Works great for us.
Do you have a budget set up? If you are good at sticking to one, that would be the first thing I would do.
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We use the debit card for everything, and pay online for bills from the bank. we use the cc for big items, such as home depot for home improvements, or sears for big ticket items.