Cash or Credit?

I usually prefer paying using cash or debit card.
I hate using credit cards despite all the offers and such. I have a credit card, but I never used it and I don't plan to use it ever.
 
I've been using my credit cards pretty much exclusively for 3 years. (I have a really good credit score now too...) But coming in January I've been thinking of using cash almost exclusively.

After our prime minister moron decided to try going for the banking info of a half million Canadians, I'm not overly interested in having my info seized. They don't exactly have a great track record when it comes to protecting the data. (They lost a hard drive with student loan info on it...) And what I buy with my money is none of their business. (Whether I'm at Walmart buying a PSN card or a grocery store picking up some steak... it's none of their concern.)

And I'm looking to start saving more money... Which should be easier if I actually have the cash physically set aside. (Out of sight, out of mind type thing.)
 
VirusZero said:
I've been using my credit cards pretty much exclusively for 3 years. (I have a really good credit score now too...) But coming in January I've been thinking of using cash almost exclusively.

After our prime minister moron decided to try going for the banking info of a half million Canadians, I'm not overly interested in having my info seized. They don't exactly have a great track record when it comes to protecting the data. (They lost a hard drive with student loan info on it...) And what I buy with my money is none of their business. (Whether I'm at Walmart buying a PSN card or a grocery store picking up some steak... it's none of their concern.)

And I'm looking to start saving more money... Which should be easier if I actually have the cash physically set aside. (Out of sight, out of mind type thing.)
Click to expand...

Here is my answer to everyone who tell me this. Yes, your info can be stolen/at risk/ect. That's just a risk of life. It's just as risky as going out with actual cash and either losing it or being robbed. Life is risky and life sucks.
 
DS, you're missing the point of why I'm doing this.
It's not that it can be stolen... It's now a guarantee it's going to be. My privacy is going to be violated. The very laws set up to protect us are being shoved to the wayside. The banks will have little choice but to comply when the government says to hand over the data. It's an abuse of power and I'm not going to make it easy for them. So yes, go ahead and take my banking info. All you're going to get is Paycheck in / Paycheck out.

I'm not worried about being robbed in the street because there's only going to be a few times when I'm carrying more than $50 on me. Namely the days I withdraw my paycheck. And my goal on them is to basically park as close to the bank as possible, withdraw my money and get right into my vehicle.

I'm not worried about losing cash either because if my cash is gone then so is my wallet and I have much bigger issues. (Namely my driver's license is gone, my health card is gone, etc...)
 
VirusZero said:
DS, you're missing the point of why I'm doing this.
It's not that it can be stolen... It's now a guarantee it's going to be. My privacy is going to be violated. The very laws set up to protect us are being shoved to the wayside. The banks will have little choice but to comply when the government says to hand over the data. It's an abuse of power and I'm not going to make it easy for them. So yes, go ahead and take my banking info. All you're going to get is Paycheck in / Paycheck out.
Click to expand...

The only way to stop this is to get off the grid and live in the forest.
 
I like cash as well since I been reading stories of people installing devices which they can steal my debit card info.

I think Prepaid credit cards can be a good option since you just load enough money to buy something like a video game or TV, and don't risk a hacker stealing many hundreds to thousands of dollars from a bank account.
 
With modern tech it's pretty easy to gain access to someone's account so maybe it's time to scale back on the credit/debit cards a bit...

I've never been a fan of the tap and go pay options on debit cards. (Touch the card to the debit/credit card reader screen and it just auto withdraws from your account. No need for a pin number or to sign anything. Granted it's only up to $50 in most stores but $100 at gas stations. However it wouldn't take long to drain an account even $50 at a time.)
Same for the various ones like apple pay or google wallet where you tap your phone. That just makes getting a phone stolen even worse since then they'd have access to bank accounts on top of everything else.

Another reason for this is because as we move towards a cashless society we're going to be putting a lot of people out of work... Bank tellers, cashiers, armoured car drivers, etc... because no cash to transport means most of what they do will be obsolete. I mean we won't need cashiers to handle money and ring people up if there's no cash. They'll just expect everyone to use the self-serve kiosks. (And we've seen them become a lot more prevalent in the last few years. Go into any mcdonalds and see maybe 1-2 cashiers now but 3-6 kiosks where there used to be 3-4 cashiers and no kiosks.)
To me, having a sudden influx of people becoming unemployed is a bad thing. It's going to be a large hit on the economy and will strain government resources even further. Governments are already hurting right now when it comes to all these welfare programs but start adding a lot more people and it won't take much to drive them over the edge and start collapsing.
 
I think money orders can be a good choice for paying a lot of money to a store to buy something like a large TV, but not wanting to risk getting your money stolen, or using a credit or debit card where a hacked card reader can steal the card's owner's personal information which is stored on the card.
 
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