Cash or Credit?

To determine whether to use cash or credit, take a look at your situation.

  1. Is the item a necessity?
  2. Do you have cash available to pay for it?
  3. Are you currently in debt?
  4. Is the interest on the purchase tax deductible?
  5. Can you afford to make payments if you borrow?
  6. Is the purchase difficult to transact with cash? (i.e., are you purchasing online, over the phone, etc?)
  7. Is the purchase significant (i.e., > $1,000)?

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