How Much Money Do you Carry Around?

[Imran Siddiqui]

Anywhere from $60-$0, plus credit cards. Mostly use my check card for things, but some larger cost things I'll use credit (and then pay it off right after my next paycheck).

[Solly]

It's no wonder people have so many debt problems when they put so many things on cards. There's no way of keeping track of spending that way

[Mrs. Tuberski]

Me and Tuber dont have credit cards the card we use is a check card and it comes out of our bank acount. It is a check card.

[Sava]

I don't use a check card anymore since I had my wallet stolen/lost (I don't know exactly what happened) and someone emptied my account. It was a pain in the ****ing ass to get my money back whereas getting charges off a credit card is easy.

Banks
credit card companies

[Jack_www]

Originally posted by Doddler
It's no wonder people have so many debt problems when they put so many things on cards. There's no way of keeping track of spending that way

When I use my debit card the money comes right out of my checking account and I have a complete record of all the money that I have spent. Thus it makes it a whole lot easier for me to keep track of my spending this way. Plus I dont have to worry about getting robbed.

[Lorizael]

Originally posted by Doddler
It's no wonder people have so many debt problems when they put so many things on cards. There's no way of keeping track of spending that way

Check card. Only money coming out of my bank account. I have no debt. I keep track of my money perfectly in my head.

[Jack_www]

Originally posted by Sava
I don't use a check card anymore since I had my wallet stolen/lost (I don't know exactly what happened) and someone emptied my account. It was a pain in the ****ing ass to get my money back whereas getting charges off a credit card is easy.

Banks
credit card companies

Thats why I bank at a credit union.

[Solly]

Americans seem to have hideously complex banking arrangements..

[Imran Siddiqui]

Where do you live, Vanuatu?

[Solly]

The home of the pudding.

[LordShiva]

AmEx

I have no debt, but I do rack up plenty of rewards points.

[Jack_www]

Originally posted by Doddler
Americans seem to have hideously complex banking arrangements..

I will try to help you out of your confusion of our banking system.

First Debit Cards, they work like credit card in that they are accept and processed like a credit card, but the money comes right out of your checking account. You can also use it like a ATM card at ATMs to get money out of your account.

Credit cards - I am sure you know about this, every purchase you make is money lent to you and you have to pay interest on it. Usually most cards give you a 30 day grace period, some are only 25 days. Also cards like American Express, they dont charge interest but require you to pay the balance in full every month.

Credit Unions- they are like banks, but they are owned by the people who deposite money into the bank. They are the shareholders. Thus they are more often a lot better then regular banks and have better rates.

[Solly]

What's a checking account?

[Imran Siddiqui]

I take it back... you've lived in a cave in Okinawa since the end of WW2, right?!

[Jack_www]

Originally posted by Doddler
What's a checking account?

Wow, I did not know that you did not even know that much. Here is a link on wikipedia about it : http://en.wikipedia.org/wiki/Checking_account