Is Cash Still King?

While recently making a purchase at a local major retailer, I found myself a little discombobulated to find that half of the self teller machines had signs on them that said “no cash, credit card only.” I was shocked. I remember not too long ago, the express lanes at local grocery stores read cash only. Are we parting with cash or do the retailers know something we don’t?
I pulled up some numbers so I could have my facts straight, but research shows you will spend 12-18% more money when using plastic instead of cash. In it’s own study, McDonalds found when they started accepting credit card purchases, the average purchase went from $4.50 up to $7.00. That is incredible!
I am here to say that cash still is king. You will keep more of your hard earned money when you use cash and it is still a very powerful negotiating tool when you wave around a fan of Benjamin Franklins. (Try it, I dare you)
Have a plan, because retailers do.

If you need help putting a plan together, shoot me an email to set up an appointment – tim_parady@yahoo.com

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About

My name is Tim Parady and I am 35 years old. I was born in Connecticut, raised in Virginia, had a brief layover in Kansas which led me to Texas where I met my wife and best friend. We just celebrated 14 years of marriage. I have the best job in the world, which is to improve peoples lives. I teach people how to win in all areas of there money, which affects all areas of their lives. 78% of Americans live paycheck to paycheck, with no money in the bank and little knowledge of how to invest for their retirement. You can have a different future. You can win with money and I can show you how. I am an independent Dave Ramsey Financial Coach and I am here to serve you. I don't sell products, I provide knowledge and tools to change your life. To schedule an appointment to address your financial needs and goals, email me at tim_parady@yahoo.com

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Posted in Budget, cash, credit card, Debt, Money, Money Tips
3 comments on “Is Cash Still King?
  1. directorb says:

    Reblogged this on Director B – Life Outside the Box and commented:
    Need help with your finances? This blog is great help.

  2. candylew says:

    While I often get mocked for my dedication to cash versus credit, it is easier to control my spending. And I refuse to change to suit the retails — or the mockers!

  3. […] There are also some staggering statistics about credit card vs. cash spending habits. I won’t repeat those here, but if you are curious, check out this post http://dollarsandsensemoneytips.com/2014/03/18/is-cash-still-king/ […]

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