Good Lifestyle

The prevailing financial wisdom suggests that you make your big tickets purchases with a credit card . Thanks to the litany of advantages affiliated to today's credit cards, you will recover money with each declaration. And if you remember repaying your whole card at the end of the month, you will not be criticized with brutal interest rates. But still, it is sometimes better to shop with a debit card - even if it means missing points and benefits. To find out more about this, continue to read to hear financial experts on the five purchases you need to make with a debit card.

Read this then: Never use your credit card for these 6 purchases, according to financial experts .

Use your debit card for these 5 purchases

1. Public services

Your electric, water, rent and other public service invoices can be delivered with credit card transaction fees, according to Percy Grunwald , co-founder of the bank rating database site Compare the banks . These costs may seem ineffective, but over time, they add up. Using a debit card, you will avoid them entirely. But this is not the only way to save money using a debit card.

"Some debit cards also offer cashback rewards, which can help you save money on your purchases," adds Grunwald.

Just make sure you don't install Automatic payments If you move your bills to your debit card. Otherwise, if you don't pay attention, you can get your account!

2. ATM withdrawal

If you are in a pinch for money and you cannot go to your own bank, it is always better to use a debit card for ATM withdrawals, even if you will have to pay fees, tickets TD bank .

They explain that, according to Creditcards.com , with a credit card, you will probably have to pay 10 or five percent of the transaction, the highest, at an automatic counter. "In addition to the costs in advance of funds, you will generally pay a higher interest rate on the amount of the fundraising, an average after 24.80%."

Read this then: 5 times you should always pay by check, according to financial experts .

3. Some foreign transactions

Depending on your bank, your debit card may have foreign transaction fees lower than your credit card. For the latter, the costs are generally Three percent , according to Nerd Wallet. For debit cards, however, they say that it is generally One to three percent . And with greater purchases, saving two percent can really make a difference.

It is always better to check the terms of your debit or credit card, because these costs vary.

4. For your children

Debit cards can be invaluable to teach your children the art of financial responsibility. AE0FCC31AE342FD3A1346EBB1F342FCB

"I am a big fan of using debit cards with children or adolescents who are just starting to use money daily", " Tim Melia, CFP , director of Embed financial planning , recount Better life . "It is an excellent opportunity for them to follow the money in their checks and they can only spend possible, [without] too wide in credit."

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5. Food and daily expenses

"Since a debit card is linked to your bank account, it can help you stay on the budget by limiting your expenses to the amount of the available money", " Gabriel Lalonde, CFP , the president of MDL financial group , said. "When you use a debit card, you spend the money you already have on your bank account ... you don't have to worry about the accumulation of debts, interest or costs of costs delay."

For this reason, Lalonde says it is easier to stay in budget if you pay for daily expenses with a debit card.

The most obvious daily expenses are your food, from dinners to restaurants to grocery store, including daily trips to coffee. For small stores, you can also avoid paying for credit card processing fees. If you have trouble budget, also plan to use your debit card for things like bus or train prices.

Best Life offers the most recent financial information of the best experts and the latest news and research, but our content is not supposed to replace professional advice. Regarding the money you spend, save or invest, always consult your financial advisor directly.