DAYTON, Ohio (WDTN)–During the holiday season, there are many advantages and disadvantages to using cash, debit, or credit for your spending needs. River Valley Credit Union Representative Eric Ebbert spoke with Living Dayton on Thursday with the best advice for holiday shoppers!

Ebbert says using cash has some advantages that shoppers may want to consider. Cash is the best option for small transactions and it’s also helpful when shopping at places that don’t accept debit or credit cards. Additionally, using cash can help you stick to your budget, as it provides a physical representation of how much money you have left. By carrying cash, you will not be tempted to make impulse purchases and overspend. On the other hand, cash offers no purchase protection and there is no paper trail left behind for proof of purchases. By not having a paper trail of your cash, you run the risk of not getting that money back if your wallet gets lost or stolen.

Using a credit card has many pros and cons as well! If you have a large purchase, you may be eligible for rewards or cashback, or can get an extended warranty with your card company. Plus, debit cards allow you to have the convenience of plastic without the risk of going into debt. Since you are using money from your checking account, you can only spend what you have available, making it a great budgeting tool. Paired with online banking, debit cards provide a paper trail of what you spend money on each month and can be very helpful in budgeting Finally, debit cards offer some level of protection against fraud and theft. If your card is lost or stolen, you can report it immediately to your credit union, and they will cancel the card and issue you a new one.

For more information, click here or watch the segment above!

****This segment was sponsored by River Valley Credit Union****