Are Debit Cards More Dangerous Than Credit Cards?!
Money Guy Show
Brian Preston, CPA, CFP®, PFS and Bo Hanson, CFA, CFP® | Fee-Only Fiduciary Advisors
4.7 • 3.1K Ratings
🗓️ 2 November 2022
⏱️ 26 minutes
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Summary
Transcript
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| 0:00.0 | It's Brian Preston, the money guy, restoring order to your financial chaos, retirement, |
| 0:07.0 | investing, taxes. |
| 0:09.0 | You've got financial questions, he's got financial answers. |
| 0:12.6 | It's Brian Preston, the money guy. |
| 0:15.9 | So here's an important question. |
| 0:17.6 | Are debit cards more dangerous than credit cards? |
| 0:20.4 | Right, I'm excited to talk about this because I was surprised, right? |
| 0:25.0 | We live in our own little worlds where we kind of get blinded by our own biases and perhaps |
| 0:30.0 | we don't recognize that other people out there have different thoughts, different preferences, |
| 0:34.7 | different ideas. |
| 0:35.7 | When you start asking people this question, you can really see how unique and different |
| 0:39.2 | folks are. |
| 0:40.2 | So, one of the things that we want to address is we've kind of done some investigating |
| 0:43.4 | around this is which one's better, which one should I use, which one's more dangerous, |
| 0:48.0 | which one's more helpful, and we're going to hopefully dive into a little bit of that |
| 0:51.4 | today. |
| 0:52.4 | Let's give them a little context first. |
| 0:53.8 | Because we, Ruby had to dig hard on this to figure out what was the actual debit card |
| 1:00.5 | used versus credit card use. |
| 1:02.0 | And the best stat we could find was actually from Nerdwallet. |
| 1:05.4 | We found that 44% actually said that they used their debit card primarily for purchases |
| 1:11.9 | for everyday purchases. |
... |
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