When you leave for work or school in the morning, does your wallet or purse have only debit cards or credit cards, or do you carry cash?

We had a discussion at one of our meetings last week. Some folks always carry cash and most folks like me only have debit and credit cards in our purses or wallets. We asked the listeners on Facebook and here are some of their answers.


As you can see most of those who commented said they were a debit card-carrying person. Cash was mentioned very little and David even joked that we were trying to rob him. Here are the facts:


If you carry cash you can use it anywhere. It is readily available and everyone takes it. On the downside, if it is stolen you may not get it back. If you are like me you tend to spend your cash faster than if you use a debit or credit card. I tend to go through my cash pretty fast if I have it.


If you carry a card, then the next question is do you use a debit card or credit card? A debit card is directly linked to your bank account which makes it easy to keep up with your spending but it does have some issues. If you lose it or if there are some fraudulent charges they may freeze your money and it could be a few days before you have access to it again. If you use a credit card you have some additional fraud protection and there will not be a freeze on your account unless you do it.

So the choice is yours to make, cash or card. Each has its advantages and disadvantages. But it looks like most of us are carrying cards with us when we go out.

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