Cash Vs. Card for Your Black Friday Shopping
With Black Friday coming up quickly, you may be wondering how you will pay for your purchases and if cash or credit is the way to go. There are certinally pros and cons for each and in this post, we will discuss both so when the mad rush kick-off of the holiday season shopping starts, you will have the confidence to shop ‘tll you drop!
Here are some pros and cons to using good old paper money and credit :
- You can see how much you are spending in concrete terms with cash. You may also be able to set aside money in separate envelopes in order to not go over budget at each store.
- With credit, you don’t have to worry about losing a big amount of money because if you accidentally misplace you card, you can just cancel and freeze it and re-coop any funds lost.
- Cash requires no authorization and therefore you can divide it up among those that are snagging deals with you.
- There are no fees to use cash, so it may end up cheaper in the long run. Once you are out, you’re out.
- Credit cards sometimes offer rewards for spending money at certain stores. And, you can use previous cash-back rewa4rds that you have accumulated to make your Black Friday purchases.
- Using cash means you don’t have to worry about someone finding in the monthly credit statement where you were doing any shopping, therefore, you can do all your shopping in secret, leaving the giftee truly guessing.
- Cash is a good form of payment if you are not sure if the size/style/gift is a perfect match for the person you are giving it to. It tends to be easier to return.
- Credit allows you to keep better track of where you did make purchases so it is better for meticulous book-keepers.
- Credit allows you to possibly make larger purchases and pay them in installments rather than all at once. Just be careful you can afford to pay off quickly so you aren’t paying for Christmas until June.
- Using cash allows you to make immediate purchases and know that the money you are spending is the bottom line and no more payments will need to be made.
- Credit cards can, however, help you build positive credit for the future if used responsibly.
- When making smaller purchases, using cash is better because the high interest rates will not be there for something as small as a $5 stocking stuffer.
- If you have a dispute on a purchase you made, having used credit can be to your advantage. Credit card companies will go to bat for you if you need them to.
Be sure to check out these Black Friday Tips: