8 Reasons to Use and Carry Cash At All Times

8 Reasons to Use and Carry Cash At All Times

There are many benefits of purchasing with cash. Our Dad always advised using and carrying cash because you never know when you will absolutely need to buy with cash and you could miss out on good “cash-only” opportunities. Below are some of our favorite reasons why carrying and using cash is a must in some situations.

Here are our 8 reasons to use and carry cash at all times:

1.) Helps You Spend Less

When we carry cash, we have an emotional tie to it. It’s all psychological. We work hard for our cash, so to see it physically leave our hands and our household makes spending it that much more “real”. We think of all the hard work we had to do just to get that cash. A good practice would be to give yourself a weekly cash budget. You will see that you don’t really need to buy as much as you did when you only swiped your debit/credit card.

2.) Cash is Still King

When we use debit/credit cards, we swipe at the register to electronically deduct money out of our bank account or available balance. Technology is not always reliable as we all know, so let’s keep that in mind when we are needing to purchase things that are crucial in any situation we may be in. For example, you may be in a need of gas for your vehicle on a road trip and if the terminal for accepting card payments is down, so will your gas tank remain. The clerk at the gas station will simply just apologize and tell you to go elsewhere. Now if you have cash on hand,  you can simply pay and be on your way to your destination.

3.) Better Deals and Discounts

Business owners can sometimes benefit when their customers use cash instead of using their debit/credit cards. They sometimes offer better deals and discounts to their cash paying customers because now the business can save on having to pay fees to merchants such as VISA, Mastercard, American Express and others more. You will notice more deals and discounts offered on higher-dollar transaction amounts. The higher the transaction amount, the higher the fee to be paid to that merchant during that one transaction. Business owners like to save when they can, too.

Are we the only ones that get kind of disturbed when businesses charge an extra fee (such as 45 cents and up) just to use our debit/credit cards to spend money at their place of business?  Or when they say, “You must spend $10 or more to avoid an extra fee” even though all you came in to get was a pack of gum? This is why carrying cash will save you money!

4.) Avoids Going Into Debt

Simply said; when you use and carry cash, you can’t spend what you don’t have. This helps the everyday person avoid going into debt. When we carry our credit cards, even though there is little money in our bank account, we will charge it and buy something we couldn’t afford in the first place! Have you ever heard of the saying, “if you can’t afford to pay for it in cash, then you can’t afford it”? Remember this every time you have an impulse to purchase an item that is not a necessity. This will save you financial strains in the future when it comes time to try to pay off the purchase, now with interest added.

5.) Guilt-Free Purchasing

Let’s pretend we are at our favorite retail store. We prepared and budgeted money to spend on a new summer wardrobe with cash so we are excited! We will now have a better shopping experience because this money was set aside specifically for this! No credit card bill in the future. No overdraft fees in our bank account tomorrow because we just spent our car insurance payment that is deducted automatically from our bank account on some cute shoes. Crazy, but some people are willing to pay unnecessary fees to get what they want on impulse. We now are able to shop GUILT-FREE!

6.) Lowers Identity Theft

Every time we swipe our debit/credit cards at any point-of-sale terminal, we are putting our money at risk. Can you believe people actually make a living stealing financial information from innocent, hard-working people? Well, they do and have no shame. Banks are generally pretty good at replacing your money in your account given a fraudulent transaction. Keep in mind, they still have to investigate and that could take days to get your money back. What will you do in the meantime when you need to eat, pay bills that are due or get gas to get back and forth to work? Criminals will try to wipe out your account so protect it by using cash when you can.

7.) Promotes Self-Control

When we swipe a plastic card, there is limited gauging to the actual effect our purchase has on our finances. It is also proven that we spend slightly higher than if we were to carry cash. If we have cash in hand, we can control those urges to purchase a little more because we know that if we spend this cash to buy this $100 dress, we will not have enough to buy groceries for the week. This helps us to second guess our needs verse our wants. Self- control is an important step to personal development.

8.) Teaches Patience

Using cash teaches patience by actually having to plan and budget for the things you desire as a luxury. It gives you something to look forward to and helps develop delayed gratification. This comes in handy when you have financial goals that are worth more to you than an unplanned shopping escapade at your favorite mall. On the other hand, if you are patient and save money diligently without sacrificing your light bill being paid, you will understand that patience is key to financial freedom.

These reasons are good to keep in mind when you are trying to save money and protect your finances. We consider this tip of using and carrying cash to make life a little bit easier. Remember, CASH IS KING!


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