Carrying a couple of cards in your wallet seemed to be more practical than bringing cash and coins along with you. But the truth is, paying with cash is actually more beneficial.
In a world where paying is just a swipe away, it seems that using cash is a thing in the past. But is swiping your card really the best option? Here are seven reasons why you should pay with cash.
1. Your purchases will become valuable.
Journal of Consumer Research author and University of Toronto assistant professor of marketing Avni Shah said:
“You feel something when you physically part with your money, and there are different levels of pain depending on the type of payment.”
2. Buying stuff will become more meaningful
The same study reveals that those who have donated using cash “felt more connected to their chosen charities and less connected to the ones they hadn’t picked.” Shah then suggested that cash could help customers make more thoughtful shopping decisions.
3. You’ll eat healthier
Since you don’t have an unlimited amount of cash inside your wallet, you make better choices and food is not an exception.
4. You’ll know the difference between “needs” and “wants.”
If you’re using a credit card, you would throw whatever in the cart and figure the credit fairy was there to cover you. But if you only use cash, you will take the time to pause in the aisle and really think about the necessity of your purchases.
5. You’ll save money
When you’re using a credit card, you don’t really see your cash going way. With that said, you keep on swiping as if you have an unlimited source of money. You can’t save this way.
The best thing to do is to pay for things with cash to avoid this credit card trap.
6. You’ll stick to your budget.
Having a budget is important. But if you use your credit card all the time, you won’t realize how much you’ve spent the whole month. Paying with cash will help you track down how much money your have left in your monthly budget.
7. You’ll be more aware of the prices.
If you’re using cash, you can see your money thinning every time you purchase something. Therefore, you’ll learn to distinguish the good deals rather than splurging on something every single time.
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