My New Blog

I don't know about you, but I am often in a shopping dilemma—do I use my credit card for a purchase, or do I use my debit card? Do I want to pay for this over time plus interest, or do I have the money in my checking account to cover the cost of the purchase? Both cards are an easy, convenient way to shop without having to carry any cash. So I try and keep these simple points in mind:

• Use my credit card—essentially I am borrowing money I have to pay back!
• Use my debit card—the funds come right out of my checking account, so do I have the money in my checking account to cover this purchase?

I find that both debit and credit cards can be a benefit for me:

• Credit card—when I use within my spending limit and pay on time, it helps me build a solid credit rating. Very important!!
• Debit card—since I know I have a limited amount in my checking account, it helps me stick to my monthly budget. It's nice not having a credit card bill arriving a month after the purchase.  

I must evaluate the pros and cons of credit and debit cards and use them as wisely as possible.

Submitted by:  Lynda Fleming