Cash in Your Pocket – Why Do That?

I think everyone should have cash in their wallet or purse to make daily purchases. The cash does not have to be a lot, just a day’s worth of expenses. The reason is that if you have a day’s cash on hand, you may spend less because you can see the dollars leaving your hands, as you hand the clerk payment for a purchase. This can be more impactful to see the money going out each day. Using a debit or credit card doesn’t appear to be paying money out as much as cash does.

Debit and credit cards are easy to use for purchases. But sometimes stores will charge you a convenience fee for using a credit card. I have experienced the stores charging a 3% fee on top of the total purchase amount. Having cash handy will help you eliminate convenience fees. Cash purchases do not incur convenience fees.

Cash is also easier to keep track of. Just write down the cash you have in your wallet at the beginning of the week, and the amount you have at the end of the week. If you use cash rather than credit cards, you will see the money that you spent each week, by subtracting the amount you had at the beginning of the week from the amount you had at the end of the week.

Cash is king. You can quickly buy items using cash. You are not charged a convenience fee like you may if you use a credit or debit card. And you can track the money you spent each week. It’s your choice.