How we pay for things has a LOT of implications. Chances are whether you use “cash, debit, or credit” is more a result of habit than a thoughtful approach to your spending. “I use my check card because that’s just what I do- and it’s easy!”. But it’s important to note that some payment methods are more secure than others, while others provide better rewards, peace of mind, or might even cause you to spend less of your money. So how do you know whether you should be pulling out your debit or credit card? Or should you stick to using cash? We’ll discuss the pros and cons and why how you pay is so important.
Additional Resources:
- At the beginning of this episode we discussed how we’re reevaluating our life insurance needs since we’ve both grown our family this year. Be sure and check out Joel’s article on level term life insurance.
- And it’s no secret that we’re a fan of using credit cards. Here’s a primer on our favorite credit cards based on the way you spend. We’re all about using our cards in a responsible way that allows you to maximize your benefits.
- Credit cards can be a slippery slope, starting out with good use them changing to bad. It’s worth learning the differences between good vs bad debt, and also when good debt becomes bad!
During this episode we enjoyed an Oro Negro by Jackie O’s Brewery- a big thanks to Art, Mackenzie, and all of our friends there at the brewery! And if you enjoyed this episode, be sure to subscribe and give us a quick review in Apple Podcasts or wherever you get your podcasts. Help us to spread the word to get more people doing smart things with their money!
Best friends out!
