It’s
a no-brainer and we all forget about this. The check book takes up a
lot of room and after each transaction we need to write down what we
have spent. We really should be doing this anyway, but we tend to
rely on our brain to subtract things with the debit/credit card from
the account.
Cash is bulky and will either prevent the wallet from
bending to return to the back pocket, or the clasp won’t close and
we can’t stuff it back into the purse. Either way, cash can be
heavy especially if a lot of change is involved. More than one person's back
has been put out because of heavy overload from too many nickels and according to ABC News, the payment processing industry is banking on consumers to use their plastic.
At
the end of the day, or even throughout the day, we pull out the phone
and check our balance, making certain that all purchases have come
through and we know what our balance in the bank is; Easy peasy. With
cash, we don’t have an overdraft that we can use to extend what we
know we can spend. Not mention, we like looking at the phone because
we can also do other things online while we are there.
The grand scheme
We
as consumers don’t pay an enormous amount of fees to use our cards.
We do get socked at the ATM machine if we don’t use our own banks
mechanisms to draw cash out, but that is to be expected. They are
trying to make some money doing business, and that is the cost of
locating one not our own. Makes sense huh?
A
fee is tacked on when we make payments by phone. We get a small fee
for processing the transaction, and with some online payments, they
do the same thing. The industry has this regulated and they can only
do a certain amount on top of our payment. If it gets out of hand,
don’t be afraid to report illegal debit card fees. Turn them into your states attorney general’s office and don’t
let them get away with it. New rules bar debit cards from being
charged fees for convenience. Credit cards however, are still subject
to this possibility.
Why use cash
Let’s
face it, a lot of rewards are on the market to exit the cash
strategy. Cash is cash and it has its place, but if you watch the
advertisements, you could save a bundle in money with things that you
were going to do anyway. Your bank will run modified programs, and
the airlines have travel miles that can be saved and tacked onto
rewards cards. You can get cash back on others, behooving you to be a
shopper among cards.
When
cash is spent, it’s all gone and then the only thing in the wallet
is cobwebs. With the debit card or credit card, the whole world is
still open to ideas and possibilities. However, keep in mind, credit cards are still considered a good option due to the many advantages they afford.
Pun
If
you play your cards right, you can get cash back, travel across the
country and have a Christmas club to work on when you return home.
The credit cards out there have different programs that could help
you pay for things that you enjoy, just don’t lose your wallet.
Cause the cash in there will be spent right off the bat from someone
that does not want to be on the grid. Not all of us are hiding, but
cash tends to lean that way.
Use your credit/debit card, that’s why they were made. Enjoy your life while you are here. It’s so short; don’t be afraid to rock the world with your voice.
Use your credit/debit card, that’s why they were made. Enjoy your life while you are here. It’s so short; don’t be afraid to rock the world with your voice.
About
the author: Hi I'm Blair Thomas, I have 10+
years of experience in the electronic payments industry, managing
several successful agent offices and registered ISO's. I work hard
during the day and spend my nights and weekends developing my music
career as a singer songwriter signed to David Faustino’s label Old
Scratch Records.