This Is When You Should Use Cash, Credit, and Debit
According to an article in Business Insider, the right time to use cash versus credit versus debit depends on more than just the nature of the transaction. The decision hinges on your individual mind-set regarding money, spending, and organization. Someone's ability to responsibly use a credit card, for example, relies heavily on if they're the type of person to stay on top of payments. If not, they may accrue credit-tanking debt thanks to interest rates. If you're the type to get a little spend happy during happy hour when you see loose dollars in your wallet, debit might be the way to go. Though in the past, budgeting by way of setting aside weekly or monthly bulk amounts of cash may have been an effective way to control your spending, these days it's all about the personal finance mobile apps (we love Mint for keeping track of where our money is going).
If you're still unsure about what's best for you, read on. This handy chart breaks down the simple guidelines for deciding how to pay.