When Should You Pay In Cash?

It may seem old school to whip cash out of your wallet to pay for your purchases. But there are times when good-old greenbacks can actually be a better way to pay than tapping your credit card.

While credit can be a quick and convenient way to pay, using cash for many of your routine transactions can be more secure.

The Benefits Of Cash

You may be rewarded for paying cash, like paying a lower price at the gas station or when you get take-out at a restaurant.

You May Get A Discount

If you leave home with only the amount of money you need for the day in cash, your spending is likely to be more mindful and you may have a better chance of sticking to your budget.

It Can Help You Avoid Overspending

There is less risk of identity theft or your information getting stolen when you pay with cash vs a debit or credit card.

There Are Fewer Security Risks

Cash is a one-shot deal — the purchase you made won’t end up costing you a penny more. With credit and debit, however, you can end up paying additional charges down the line.

You Can Avoid Fees

Times When You Should Pay In Cash

It can be a good idea to carry cash for small purchases. Many retailers have a minimum amount of money you must spend in order to use debit or credit.

Your Tab Is $10 Or Less

Small businesses often offer discounts for cash payments, since it helps them save on bank fees.

When Shopping At A Small Or Local Business

You may have noticed that after you buy something with a credit or debit card, you often get hit with ads and offers for similar products.

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