I don’t use a debit card. I have one that I use only at the cash station. I’m suspicious of debit cards, and I can’t fully explain why. It just seems to me that whenever the bank pushes something hard, it’s a better deal for them than for me.
I also think that using cash and checks makes you more mindful about your spending. You have tangible evidence of what you are doing. When you look in your wallet, you know if you have enough money to get you through the rest of the day or not, and you can plan your purchases accordingly.
I used to use checks all the time, but I gave that up when I realized that clerks no longer knew how to deal with them. I often use my credit card – which I pay off in full at the end of the month – but my favorite spending tool is cash.
I once talked to a financial planner who had a great game he used with clients to help them gauge their spending needs. He asked them to figure out how much money they thought they would spend in a week, withdraw it in cash, and then see how long it lasted. Most people found that they spent more than they realized, but they didn’t realize it until they switched to cash.
You know what else I like about using cash? It makes me look vaguely dangerous, because it’s just me and the drug dealers who still use it!
I only use debit card for online shopping. otherwise I always pay with cash. it gives me a sense of control.