Debit Card is a payment type that will help you stick to a budget because such a payment withdraws the money from the existing checking account. Therefore, such a method allows spending the money one posses.


A rapidly evolving technology caused the emergence of new payment methods, including credit cards, payday loans, and cash advances; however, some options might result in overspending, overdrafts, and fees. Debit Card includes a specific amount of money that is deposited in the card.

The sum allocated on the account is limited, which means it is the only money that one can use for purchase as long as they are left on the card. Other options serve as loans on future income and promote spending beyond the available finances, which makes them unreliable for those who aim at controlling costs.

A debit card implies the same process as paying upfront with cash instead of at the end of the month, as in the case with a credit card. Considering that debit cards are connected to the checking account, the overdraft fee is a concept one should be careful with.

If a person spends more money than is available on a debit card account, he is left with no money and is unable to use a card until the sufficient funds are activated. Thus, when choosing a cash-only system or a debit card, it is essential to control the expenses and be careful of the card usage, otherwise, one might face a predicament.

Among other beneficial budgeting tools, automatic, mobile and online payment methods, such as AHC payment, PayPal, Zelle, Venmo, Mobile Wallets, Apple Pay, and money-saving apps, are viewed as auxiliary means. With that said, debit card, cash, or cash-based payment methods are considered the best payment options to stay within a budget.

Payment options
Source: https://www.debt.com