A Debit Card Society
Debit cards can be an effective way to spend your money that is more convenient than cash but slightly safer than using a credit card. Using a debit card forces you to spend only the money that is currently available to you. When you are using a credit card, you have the option to spend more than you have, which is obviously where credit comes into play. This way, you are tempted to overspend and force yourself into debt. Although it is possible to spend more than you have when using a debit card, you are hit hard with overdraft fees and thus have an incentive to spend within your limit. This encourages debit card holders to be more thrifty and responsible with their money, and consequently have less debt later on.
