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Photo of a desk with a laptop, credit card, wallet and cash

The Cash vs. Card Debate

September 28, 2022

We typically encourage our clients to obtain a highly rated credit card that offers either cash back or travel rewards. We then advise them to use that card exclusively, rather than using a debit card to make their purchases. There are more protections in place with purchases made on credit cards AND you’re earning rewards for purchases you were going to make regardless.

This method works for many people, but not all! Some people feel out of control when they do all of their spending on a credit card. Some people can’t help but spend MORE than they would have if their spending were limited to the amount of cash in their bank account. And that’s FINE. Personal finance strategies are not one-size-fits-all solutions.

There are countless variations of “best practices” when it comes to Daily Money Management. We become intimately engrained in our clients financial lives, their needs, their likes and dislikes, their habits, their goals…and we advise them on the best way to manage cash flow for them.