Cash or Plastic, Credit or Debit?

We’ve all heard the phrase “cash is king” … after all, it is accepted everywhere across the country. You don’t earn rewards with cash and you don’t have an electronic record of how you spent your money – which you do with a credit card – but it’s also tougher to get into debt with cash, something that is easy to do with a credit card.

A good compromise is to use your debit card, which offers the convenience of a credit card, but limits what you can spend. Just remember that you’ll need to watch your account balance closely when you’re on the road to avoid overdrafts. Also, be aware that debit cards offer less protection than credit cards if they are lost or stolen.

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