When all your debit card could do was withdraw money from the Automated Teller Machine, ATM, you wished it could do more. But now that you can do hundreds of transactions without even knowing where your card is, you just might be rethinking the idea.

You’re buying more airtime than you normally  would when all you have to do is dial a code and recharge your phone in seconds. When you’re shopping, you may not notice just how above the budget you’ve gone if you’re using your card. And when you can do bank transfers on your phone without a token, what happens when your phone gets stolen during the weekend?

Of course, the endless advantages of cashless, cardless transactions mean that there’s no going back. So what you must do is ensure that you get the best out of it. Here’s how:

Limit expenditure accounts

Banks are now quicker than ever to give you a  debit card. It makes operations, not only easier for you, but for them as well. However, because you have many debit cards doesn’t mean you should use them all. Limit cardless and cashless expenditures to one or two accounts based on your capacity. Ensure that you save your money in an account you don’t use regularly for transactions.

Password your phone

Your phone is now your mobile bank. You must do your best to be careful with it, and ensure that it doesn’t fall into the wrong hands. Sometimes, this could be beyond your control. That is why you must do your best to password your device, and keep your password as privately as you keep your debit card pin.

Think before you spend

Whether it is cash or cashless, a spending problem is a spending problem. If you have the tendency to overspend, it is definitely not the fault of the cashless economy, so you must be  sure to discipline yourself.