by Dawn Hawkins

Created on: May 15, 2009

Debit cards hold many advantages over other types of payment. They can be used nearly everywhere that you want to shop. These cards resemble credit cards. In fact, they can be mistaken for them and used just like credit cards. There are still a few people out there that don't see why they are helpful.

They prefer cash, checks or credit cards in their wallets. Here are some of the advantages of having a debit card in your pocket:

Better Than Cash

Having a debit card keeps you from having to carry large amounts of cash with you. If your wallet gets stolen, the card can immediately be cancelled without too much damage being done. If your cash is stolen there isn't a whole lot that you can do about it. You have to hope that the police catch the person that did it. Even then, there is no guarantees that you will get your money back.

Bank Account Access

With a debit card, you have the ability to check your balance, get money out or even deposit money no matter what time of day or night that it is. You don't have to worry about it if you can only get to the bank on Sunday. You can still go and nothing is lost.

Purchasing Power

Most debit cards have a Visa or Mastercard logo on it. That means that you can use it just like a credit card. The only difference is that the money comes directly from your bank account. There is no bill to pay at the end of the month. This allows you to also purchase things online without use of a credit card.

Checks

Writing checks out for things takes up a lot of time. It doesn't matter if you are at the grocery store or writing your bills out at home, the written check is very rarely used these days. When you do use a check, it takes time for it to clear the bank. Checks are much more difficult to use than pulling out a debit card and sliding it.

Keeping an Eye On Finances

Using a debit card rather than cash will make you more aware of how much you have spent and how much money you have left to spend. You will find yourself looking at your balance often. You won't think you have a lot of money left only to figure out too late that that wad is all ones. Checking your balance everyday allows you to see plain and clear what you have left. It is really an eye opening experience. You learn a lot about your spending habits when it's right there in front of your eyes.

Having a debit card is definitely worth the effort. It only takes a checking account at most banks. You can even get one through Paypal now. You will be able to keep a closer eye on what you are doing. It is sure to help you keep better track of finances so that you don't end up short at the end of the month.

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