Do you use cash or debit cards?

Lizabeth21

CRANKY40 wrote: »

If you have money left over at the end of the week just draw out less the next week and arrange a transfer of the extra amount straight to your savings account via your bank.

Yep do exactly that!

Dia_Pita

We use both, debit card at the supermarket or for car servicing etc.
However we also buy from places that don't accept cards e.g local market or shoe repair shop so use cash for these.

happy35

I use mainly debit cards, I usually only carry minimal cash with me.

I always worry in the supermarket with cash in case I don't have enough with me etc .

kippers

We have a joint credit card which we pay for nearly everything as we get points from it to use for outings / meals out etc.....our family treats.....but we ALWAYS ALWAYS PAY IT OFF IN FULL EACH MONTH! We have budgets and we are careful to stick to them. If we have cash it just dissapears into a blackhole. The only exception to this is our weekly spending money which we use for bits and bobs - going out - kids school books etc but i have started to be really careful with this money as i just cant figure out where it goes sometimes - like i say this is 'black hole' money to us

Citygirl1

Thank you for your replies. I am tempted to use my debit card more. Can I ask though, how do you keep track of how much is in your account when you use debit cards? I know you can look online but my online banking website is such a faff to log in to that I don't want to be going into it every day.

LameWolf

I use credit cards everywhere I can, and allocate the money on my spreadsheet straight away in order to pay off the bill in full every time. Where I can't use credit cards (eg @ldi) I generally use cash; I will only use a debit card if I don't have sufficient cash on me, which is rare. I use cash at the F&V market stall and the Farmers Market.

Most of my dogsitting clients pay in cash, and it's a faff to have to go and pay it in, so I transfer the amount from my "everyday" account over to my "dogsitting money" account, and keep the cash in my purse to use is @ldi or at the markets.

Mr LW and I have always kept our money separate - there was a technical reason for that at first, but we found it works for us, so we've kept it like that . I "earmark" money on the spreadsheets at the beginning of every month into the various budgets, and regardless of what payment method is used, these are updated each time anything is spent. Mr LW's money is used for the monthly direct debits, and I buy the groceries

To answer your question about tracking debit card spends, it's all on the spreadsheet. Every single penny that passes through this house is logged, so if a debit card spend occurs, I have the docket and enter it on the spreadsheet the same as I would a credit card spend; I use OpenOffice, which is very similar to Excel, so it does the sums for me.
I gather more and more places are not dishing out a receipt as standard - if they don't, I ask for one "for my records".

[Deleted User]

I use YNAB to keep track of every penny I spend. I have my current account, all credit cards and "my purse" set up to record what I spend and from which account. I like YNAB because I can use its web based so I can use it on my desktop and laptop but most of all I like the app I have on my phone so I can record my spending when I'm out and about. However, I used to have YNAB4 and was offered a lifetime discount when I subscribed to nYNAB so its good value for money in my opinion but nYNAB has increased it's subscription fee to 83.99 USD per year which I don't think I would pay.

Marmaduke123

Citygirl1 wrote: »

Thank you for your replies. I am tempted to use my debit card more. Can I ask though, how do you keep track of how much is in your account when you use debit cards? I know you can look online but my online banking website is such a faff to log in to that I don't want to be going into it every day.

Does your bank have an app for phones? I look at mine every morning so always know my balance, and whether purchases are showing yet. Logging on is much quicker and easier than online through the website, although you may not have access to the full range of banking functions via the app.

Citygirl1

Marmaduke123 wrote: »

Does your bank have an app for phones? I look at mine every morning so always know my balance, and whether purchases are showing yet. Logging on is much quicker and easier than online through the website, although you may not have access to the full range of banking functions via the app.

Yes I do have a an app on my phone but it requires the full login details every time which is long winded and puts me off using it.

Linda32

I use a simple spreadsheet.

Money in on the right (wages)

Then whatever I spend on the left.
Anything set aside for bills in the same column (as if it has already been spent)
Set aside money for food, petrol etc (again as if they have already been spent)

Deduct right hand total from left hand total tells you how much you have left to spend.