Quote:
Originally Posted by SeanPlunk
While I can see the logic behind your strategy, I would argue that cash is riskier than a debit card. With a debit card you have insurance and will get your money back. If you lose cash you're just plain out of luck.
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Don't lose your cash .
Further Elucidation
I only take cash and checks when I know I need to pay cash for something. Further risk minimization. Actually, I don't carry a blank check, I'll fill it out ahead of time. In short I rarely have more than a few dollars on me at anytime and use the debit in a highly constrained way. I use a cc, even for small transactions whenever possible.
In this way, even if my entire wallet is stolen, they can't use my debit, because they don't know the pin. There won't be any blank checks, no more than about 20$ cash (unless it's that rare occasion I'm carrying for a specific purpose), and CCs I can cancel all at once.
This is about the best crossing between risk/convenience that I can think of.