Exactly.I guess, but I still don't like the direct link to a bank account. I would rather just write one big check at the end of the month (that is speaking figuratively...I mean online pay the card)
Exactly.I guess, but I still don't like the direct link to a bank account. I would rather just write one big check at the end of the month (that is speaking figuratively...I mean online pay the card)
just a FYI for ya buddy 5 $100 purchases are the same as 1 $500 purchase. and 10 $1000 purchases are the same as 1 $10,000 purchase. so why would you ever use a debit card and get 0% back when you can use CC and get 2-5% backI only use the CC for occasional larger dollar purchases that will get me a noticeable amount of cash back. I have a Chase card that rotates categories every quarter and spending in that category gets 5% back. This quarter has been purchases through Paypal...so guess what I used to pay for front and rear chromoly axle shafts, a lunchbox locker, a swayloc and an engine skid?
I've never been able to use them regularly for day to day purchases without ending up spending the same money twice (once with the credit card, then again with the debit card before the credit statement has come in). It might be easier if it was all on the CC and never used the debit card, but mixing the two ends up with me experiencing very PMS-like symptoms on a monthly cycle synchronized with my CC statements.
I have to say in the last couple years most contractors don't discount for cash or even care to get it. I did a $40,000 pool renovation and the guy said you can pay me cash but the price is the same. Same thing with the mason (who was a friend), I finally was able to convince him take $10,000 out of the $20,000 bill in cash.My credit card is used for just about everything with a couple exceptions. Always tip in cash. Even if I charge the meal or bar tab, tips are always cash. Your server will appreciate it when they can go home with untaxed cash in pocket. The other is if I hire out work to be done at my home. Pay the workers or contractor in cash and 99% of the time they'll knock off the tax or lower the bill.
just a FYI for ya buddy 5 $100 purchases are the same as 1 $500 purchase. and 10 $1000 purchases are the same as 1 $10,000 purchase. so why would you ever use a debit card and get 0% back when you can use CC and get 2-5% back
Exactly.
I don't like surprises and I'm never surprised when the statement comes in with $2k worth of Jeep parts, or a lawn tractor, or a major appliance, or materials for 300 feet of fence. My head doesn't keep track of a month worth of fast food, fuel, clothing for two kids that outgrow something every other day and random trips to the grocery store because we forgot we were low on milk.
When I have to go to two different places (my bank and CC websites) to figure out how much money I have, 5% is small potatoes compared to the extra unnecessary shit that gets bought.
Pay the workers or contractor in cash and 99% of the time they'll knock off the tax or lower the bill.
If I had that my phone battery would die in an hour with all my charges...lolAnother thing I like about my CC is that it's linked to my phone. So whenever a charge hits my card it pops up on my phone. This is especially useful when at a restaurant and they run the card, I can see when they do it and how much they ran it for before they even make it back to the table.
buddy i just cant make sense of your logic ! if you were to use a CC for everything you'd only have to go to 1 place to check how much you've spent instead of 2. and the only time you use the bank is to pay the CC bill. usually 5 minutes after i make a purchase i can go to the web and see my balance. have you somehow convinced yourself that it you dont pay for it if it comes directly out of bank acct, but you do have to pay it if its on a CC ? either way it comes out of your bank acct, but going through credit card gets you something back.Exactly.
I don't like surprises and I'm never surprised when the statement comes in with $2k worth of Jeep parts, or a lawn tractor, or a major appliance, or materials for 300 feet of fence. My head doesn't keep track of a month worth of fast food, fuel, clothing for two kids that outgrow something every other day and random trips to the grocery store because we forgot we were low on milk.
When I have to go to two different places (my bank and CC websites) to figure out how much money I have, 5% is small potatoes compared to the extra unnecessary shit that gets bought.
Does your debit card cover against fraudulent debits similar to a credit card?
I use a credit card for all my transactions for this reason and use YNAB to budget and make sure we are not spending more than we have. Here is an interesting perspective from Frank Abagnale (Catch me if you can dude).
buddy i just cant make sense of your logic ! if you were to use a CC for everything you'd only have to go to 1 place to check how much you've spent instead of 2. and the only time you use the bank is to pay the CC bill. usually 5 minutes after i make a purchase i can go to the web and see my balance. have you somehow convinced yourself that it you dont pay for it if it comes directly out of bank acct, but you do have to pay it if its on a CC ? either way it comes out of your bank acct, but going through credit card gets you something back.
This sums up my frustration with using a debit card...its hard for me to feel like I have a good grasp on my finances when its 5 or 20 dollars here and there every day and I'm trying to keep upExactly.
I don't like surprises and I'm never surprised when the statement comes in with $2k worth of Jeep parts, or a lawn tractor, or a major appliance, or materials for 300 feet of fence. My head doesn't keep track of a month worth of fast food, fuel, clothing for two kids that outgrow something every other day and random trips to the grocery store because we forgot we were low on milk.
When I have to go to multiple places (my bank and CC websites) and then do math to figure out how much money I have, 5% is small potatoes compared to the extra unnecessary shit that gets bought. I do much better when I can say "yeah, we have $x, which is $y more than I planned on having, so we can use the extra for this luxury expense".
That's a good point I never thought aboutAnother thing I like about my CC is that it's linked to my phone. So whenever a charge hits my card it pops up on my phone. This is especially useful when at a restaurant and they run the card, I can see when they do it and how much they ran it for before they even make it back to the table.
I wish I had the knowledge and discipline to do this but I honestly don't think I'm smart enough no jokethat's two responses in a row that make me think "how is he getting that from what I'm saying".
I'm firmly of the belief that if you don't tell your money what to do, it will tell you what to do, so I spend a few minutes at the beginning of every month allocating my entire paycheck to various saving or spending categories based on historical averages and expected out-of-the-norm stuff for that month. Thanks to that, I have every financial transaction I've made since 2016 recorded in an Excel spreadsheet - up to 8147 of them as of last week when I last brought it up to date. They feed a pivot table that tells me just about anything I want to know. If I want to know how my fuel budget differs now vs the same month in 2018 when I had a commute, the data is seconds away. I can tell you that my wife's dog has cost us $776 this year in veterinary and boarding expenses (food is part of the grocery category). I can see the real impact to my lifestyle due to inflation or see which of our vehicles costs more to own, or earmark money out of my bonus check that needs to be set aside for income taxes when the payroll department screws up the withholdings.
Another piece of data that does take a little longer to pull together but I've determined before is that on average, my household spends more money - around $200 per month - when a credit card is used for daily expenses. These time periods were not connected to any perceived increase in general happiness or quality/standard of living, so there's no return on that extra spending which makes it waste. I can't trace it directly to the amount of useless shit we have in the house that we've had to pack and move multiple times in spite of not even touching it since last being unpacked, but I suspect the extra spending ends up as a combination of that and in cholesterol/blood pressure/body fat from eating more restaurant food.
TL;DR - I have actual data that shows my household spends more money when a credit card is used for daily expenses, which agrees with a lot of the prevailing wisdom on the subject:
https://www.nerdwallet.com/article/credit-cards/credit-cards-make-you-spend-more
So the cashback benefits don't work out for me because the extra bullshit spending washes it out, and the building credit doesn't do anything for me because I'm already over 800. So there's no advantage to it for me.
well you originally said you only use CC for big purchases and debit card for smaller ones ! i was trying to make the point of it doesn't matter if you pay for something from your right or left pocket it still comes out of your same pants . i mean it doesnt make a difference if you put $2000 a month on a CC and spend $1000 a month in cash you take $3000 a month out of your checking acct., same if you put $3000 a month on the CC or spend $3000 a month in cash. and as far as spending $200 a month more when using CC, find out who in the family is just going stupid and spending more and get them a prepaid CC and put X amount on it monthly, tell them if they spend it all thats it THERE AINT NO MORE, you can sit on the porch and twittle your thumbs cause you have no money for gas or whatever it is this month. our government is to blame for this shit teaching people there is no limit just keep spending. if you make $3000 a month and spend $4000 a month it's all good, i am lucky my mother taught me very early in life if you make $3000 a month you only spend $2000-$2500 a month and put $500-$1000 in savings. her teaching allowed me to retire at 55 with everything paid off and i didn't have a job making 2 or 300k a yr, not even 100k a yr . if it's the wife spending the 200 a month extra your screwed, if it's kids teach them a life lesson ( how to live within their means and not try to keep up with the Jones's). like Brandon saying were going to spend 3 trillion dollars and it's not going to cost a thing HOW THE FUCK CAN YOU SPEND IT AND IT NOT GOING TO COST YOU A THING and in the same breath that stupid fucker says were going to raise taxes here and there to pay for it, in the long run it will trickle down to you and me to pay for it. sorry didn't mean to take a right turn with this, DAMN now i got to go take my BP med'sthat's two responses in a row that make me think "how is he getting that from what I'm saying".
I'm firmly of the belief that if you don't tell your money what to do, it will tell you what to do, so I spend a few minutes at the beginning of every month allocating my entire paycheck to various saving or spending categories based on historical averages and expected out-of-the-norm stuff for that month. Thanks to that, I have every financial transaction I've made since 2016 recorded in an Excel spreadsheet - up to 8147 of them as of last week when I last brought it up to date. They feed a pivot table that tells me just about anything I want to know. If I want to know how my fuel budget differs now vs the same month in 2018 when I had a commute, the data is seconds away. I can tell you that my wife's dog has cost us $776 this year in veterinary and boarding expenses (food is part of the grocery category). I can see the real impact to my lifestyle due to inflation or see which of our vehicles costs more to own, or earmark money out of my bonus check that needs to be set aside for income taxes when the payroll department screws up the withholdings.
Another piece of data that does take a little longer to pull together but I've determined before is that on average, my household spends more money - around $200 per month - when a credit card is used for daily expenses. These time periods were not connected to any perceived increase in general happiness or quality/standard of living, so there's no return on that extra spending which makes it waste. I can't trace it directly to the amount of useless shit we have in the house that we've had to pack and move multiple times in spite of not even touching it since last being unpacked, but I suspect the extra spending ends up as a combination of that and in cholesterol/blood pressure/body fat from eating more restaurant food.
TL;DR - I have actual data that shows my household spends more money when a credit card is used for daily expenses, which agrees with a lot of the prevailing wisdom on the subject:
https://www.nerdwallet.com/article/credit-cards/credit-cards-make-you-spend-more
So the cashback benefits don't work out for me because the extra bullshit spending washes it out, and the building credit doesn't do anything for me because I'm already over 800. So there's no advantage to it for me.