Cash making a comeback?

There's an easy way for B of A customers to avoid paying a $5 monthly fee to use their debt cards: Just stop using debit cards. Or only use them to withdraw money from your ATMs - B of A won't be charging for that. I understand that the concept of paying for items with currency instead of plastic is foreign to a large percentage of consumers, many of them under 40. It's also extremely uncool. The thing is, it works quite nicely. It also might make people think a little harder about whether the purchase is necessary, and that could be a good thing. Not to overstate the case, but plastic - be it credit or debit - has made spending a whole lot easier, and over-spending is one of the reasons we're in such a mess. BTW, Matthew Pryor of Sound Mind Investing has a good rundown on making the transition from debt/credit to cash.


More by Mark Lacter:
American-US Air settlement with DOJ includes small tweak at LAX
Socal housing market going nowhere fast
Amazon keeps pushing for faster L.A. delivery
Another rugged quarter for Tribune Co. papers
How does Stanford compete with the big boys?
Those awful infographics that promise to explain and only distort
Best to low-ball today's employment report
Further fallout from airport shootings
Crazy opening for Twitter*
Should Twitter be valued at $18 billion?
Recent Economy stories:
Those awful infographics that promise to explain and only distort
Best to low-ball today's employment report
Exit interview with Port of L.A.'s executive director
L.A. developers relying on foreign investors bend a few rules
Holiday shopping: On your marks, get set... spend!

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Mark Lacter
Mark Lacter created the LA Biz Observed blog in 2006. He posted until the day before his death on Nov. 13, 2013.
 
Mark Lacter, business writer and editor was 59
The multi-talented Mark Lacter
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