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My bank charged me $35 for a $4 coffee, and now I want to know if I'm crazy for switching to cash only
I was standing in line at a coffee shop in Austin last month and my card got declined on a $4 drip coffee, then I got hit with a $35 overdraft fee I didn't see coming. I started pulling $200 out every two weeks and using envelopes after that, and my spending dropped fast, but my wife says I'm just hiding from the real problem. Is cash only actually a smart move or am I just avoiding learning how to track my card spending properly?
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craig.reese6d ago
Man, I once got hit with a $32 fee over a $2 taco, so you are not alone in this club of shame. The envelope thing makes sense on paper, but cash only gets rough when you need to pay a bill online or buy gas at 2am. Your wife might have a point though, because if the card is the problem, hiding from it does not teach you anything. Maybe try keeping the card for bills but set a low limit or use the app alerts so you see charges right away. I did that after my taco fiasco and it helped way more than stuffing twenties in a drawer.
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