Did you know that you pay stamp duty on all your methods of payment except for cash, currently it breaks down like this:
Credit Card- Stamp duty of €30 per year
Debit Card (Laser/Visa Debit)- €5 per year
Cheques- Every cheque you write incurs a stamp duty payment of 50 cent.
Credit cards, if paid off every month, can be a useful tool in handling your money, however if you have a number of credit cards you are paying €30 for each of them. Pick the card with the smallest interest rate and cancel the rest.
Cheques are being phased out over the next few years and a 50 cent charge will no doubt hasten their demise.
At only 5 Euro per year, your debit card should be used in any transaction which you can, it allows you to never over spend, the money is taken out of your account immediately and you can easily keep track on your spending through your online banking service.
FS
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