Keeping track - Cash or cards?

roswell

The problem with cash is you get change, change fits in vending machines .. you then need to get more cash ... you then get more change ...

chip and pin it :-) you cant not keep track then

Dan2779

I think cash is the best way to budget, but to keep track you will need to keep a spending diary. By using cards you can look at the statement and if you are like me check your online banking all of the time to keep track.

I use my cards for stuff I have already budgeted for e.g. food, petrol.. - that way I can monitor to make sure I am keeping withing my budget but I use cash for disposable income e.g. I know I have so much a week so I draw that amount out and keep a spending diary to keep track of that.

You will have to decide what is best for you, some people find it hard to budget using cards

Danielle xx

SunderlandBlackCat

Complete opposite for me I just can't keep track of cash.

If I am forced to withdraw cash to make a purchase I pay any leftover change straight back into the bank.

As I also get cashback on my credit card using cash can be a bit of a false economy.

oopalah

Hi, I'm self-employed and I pay myself just £100.00 per week in cash. This has to last the week and if I run out of money then that's tough. My Credit Cards are locked in the desk (they're for real emergencies only) and I make a note in the spending diary of every penny I spend. Some weeks it's very hard to manage but it's the only way for me if I want to be Debt-Free, which I do!
Good Luck!