Cash or card, which is best for your finances?

Perhaps you have heard friends and family give advice on what is better, if you use a card or cash as a preferred means of payment. In fact, both are a good option, but much depends on your consumption habits, your level of income and financial control you have. That is why the advice that works for some may not be for you.


Which is better cash or card?

But to put aside the uncertainty you can rely on these 3 factors and know that it suits you more.


  1. Money control

Some people often give the excuse that when they use only cash to pay, the money does not yield to them. Maybe they don’t know what the money has gone towards since they don’t do a thorough search. To tell the truth, it doesn’t matter if you opt for cash or a card to have money control, your financial habits are what determine which one suits you best.

If you intend to record all expenses and know where your money ends, it is indifferent which one you choose. If you are not organized and spend without control, the card helps you know what you have spent, and it is not widely accepted in small establishments, which will be a form of control.


  1. Spending capacity

Depending on the type of purchase you want to make, can also help you to choose which instrument to use. If you only want to make small purchases, in addition to having organized finances, you can opt for cash. If you are going to buy a table, bedroom set or TV, the credit card helps to pay very high expenses.

No matter how much you can control your expenses, it is not recommended to carry large amounts of cash, it can easily get lost. Unless you have saved to make a specific purchase. Purchases with your own money, either cash or debit card, will always be recommended above purchases with credit card.


  1. Practicality

Worldwide, cash remains the accepted form of payment. However, credit cards offer certain benefits for their use. When you choose to use credit to get these benefits, be honest with yourself about how much you use these benefits in your normal lifestyle. Whether you opt for cash or card, in both cases you should keep track of expenses. When you have bad financial habits, no matter if it is cash, debit or credit card, bad financial habits will last.

The next time you receive advice on which payment method is best for you, remember that many times they are subjective advice, based on the experiences of each person. People often demonize the options that have brought them bad experiences, however they could miss great benefits. Much will depend on your consumption habits and what best suits your lifestyle.

It is your responsibility to make smart spending decisions, your finances are only up to you and you should give them the necessary importance to ensure they are healthy.



Check out America's Best Bookkeepers
About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing services to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks file, critical financial documents and back office tools in an efficient and secure environment. Complete Controller’s team of US based accounting professionals are certified QuickBooks™️ ProAdvisor’s providing bookkeeping, record storage, performance reporting and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay services. With flat rate service plans, Complete Controller is the most cost effective expert accounting solution for business, family office, trusts, and households of any size or complexity.