The clear-sighted expert: Do we really have better control over cash expenditures?

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The Blick community demonstrated that cash is an emotional issue. Many people depend on it and can’t imagine paying with digital currency alone. This was demonstrated by the example of the Wiesner family of gastronomy. As Blick has made public, the gastro chain wants to go cashless after the summer. Much to the displeasure of Blick readers. A common argument is: “With cash, I have better control over my spending.”

Is this really true?

Simone Reiser (35) from Debt Prevention in Zurich said no. “Whether a person is in control of their own money depends on knowing how to deal with it, not on the form of it,” he told Blick. In most cases, a combination of both payment methods makes sense.

cash for daily use

Philipp Frei (39) also sees the best way to go somewhere between cash and debit cards. He is the managing director of the umbrella organization Budgetberatung Schweiz. “Cash helps with everyday expenses,” he says. For example, it makes sense to withdraw a certain amount of cash at the beginning of the month and use it for daily expenses. “It hurts more to spend 100 francs than to spend 100 francs.”

But just like digital payment methods, cash has its pitfalls. “Cash doesn’t help to think about setting aside money for taxes,” Frei says. And finally, in the age of cash, there were already over-indebted people.

So far, digital payment instruments have not been proven to be a debt trap. Reiser criticizes debt avoidance, “It’s probably more the possibility of buying on credit and shopping online at any time than the digitization of money.” In the meantime, you can finally order just about anything to take home from your living room – and you can do it in installments only. “Whether this leads to over-indebtedness depends on your financial skills and how you manage money,” Reiser continues.

Three accounts for total overview

Reiser therefore recommends making a budget. If you have a budget, you might consider: How many accounts do I need to apply my budget in daily life?

Budget Recommendation recommends creating three accounts. A payroll account, a reserve account, and a long-term savings account. You need a tool to keep spending under control. Then it really doesn’t matter how I pay,” says Frei. The more means of payment there are, the more important it is to provide an overview. And that’s only possible with a budget.

Source :Blick