ATM or Credit Card?

When you need cash for something make a wise choice. If you choose to use an ATM make sure it is one in your bank’s network so you don’t have to accrue extra fees. Another tactic is to use your credit card and pay off the amount in full when the bill comes. If you have to pay a fee for using a bank outside of your network the fees could run as high as $5 for your transaction. Do you really need cash that badly?

If you only need a small amount of cash, ask a friend who is with you to spot you the cash until you can get to a cash machine. Then pay the friend back when you get money.

When using a credit card, instead of cash, treat it like cash. If you were only getting $40 from the cash machine then spend less than $40. Don’t forget that you still have to pay this off. If you were using cash, would you spend as freely?

A debit card could help but depending on what you are paying for, using a debit card may not work as well. If you are purchasing gas, some stations will freeze part of your account and you will not be able to access some of your funds.

Using cash allows you to really keep track of your expenditures but for the times when you run out of cash or can’t get to the bank or ATM a credit card will work just as well.

Another benefit to using a credit card instead of an ATM for some purchases is that you will not have to use a cash machine that is out in the open, because you never know who is watching you. ATM skimming crimes are also on the rise. A false front or magnetic device is placed on the ATM and after you make a transaction, the thieves drain your account. Even if they drain your account for the amount that is allowed in a day you still have to go through the hassles of straightening everything out with the bank.

When you can use CASH and get a receipt so you can keep track of your spending.

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