UNITED STATES—It is something we all hear time and time again, which is better, cash or credit? I’m a proponent that cash is best because you are more in control of what you spend. There is something about letting go of that green that is like a kryptonite for some people. You work way too hard for it, and the thought of letting it go for a service or something materialistic is difficult as hell people.

You will count that cash over and over, and you’re calculating what you will have left over in your pocket, purse or wallet if you spend X amount of dollars. Cash is physical, and that is not to say that a credit card or debit card isn’t, but it goes with the notion that CASH IS KING! You don’t tend to earn points on purchase or the ability to earn cash back on purchases you make at certain businesses or retailers.

With that said, many credit cards offer that option and it definitely has its perks. I mean with 2 of my credit cards, I earn cash back and rewards for purchases that I make. The other card, not as much, which might explain why I don’t use it as much people. I mean getting 10 to 20 percent cash back on a $20, $30 or $40 purchase it adds up people. Is it as great as saving 50 percent? Of course not, but the key is to ensure you’re not allowing potential debt you incur to mount.

That is the big problem with a credit card. So many of us forget that credit is just that, credit, it is a loan on money that you do not have at the moment, so you have to pay it back as a result. We sometimes get carried away with credit cards to the point, we don’t realize what we’ve spent before it is already a big problem. However, at the same time, I’m not using my credit card just for the sake of saving a dollar or two here and there. I want to get the biggest bang for my buck if I choose credit or cash.

If I’m not earning cash back or credits to various subscriptions and such, guess what, I’m simply going to pay cash because it is going to allow me to stick to a budget. Yes, I know budget is just a term so many of us never want to hear, but budget is so important people when it comes to money and understanding the importance of finance.

We are not taught the importance of saving; we are simply focused on what we have, what we want and what we need. A lot of the times, what we want takes over our needs. Remember a want is something that makes you feel better; it is not necessarily something you need to survive on a day-to-day basis. I think when it comes to general savings you can have a little bit of both, because that balance makes a huge difference. You can use cash for those smaller minor purchases where you don’t earn cashback or save any money, and then you can utilize that credit card when you have those purchases or services where you receive a bigger bang for your buck.

I think the biggest key when it comes to saving money is that you spend only what you can afford. When you attempt to spend more than what’s in your wallet or your bank account that is when you find yourself in major trouble.