The Advantages of Paying with Cash

The advantages of paying with cash far out weigh the calamities of paying with credit cards. in essence, a credit card is a convenient  I.O.U. big time with interest attached.  Using cash, instead of credits acts as a brake on frivolous spending. Do you really need those skyscraper yellow platform shoes  or is it just a passing whim? Spending with cash  is a frugal measure. You can never over spend or tip over your allocated balance. 

Originally credit cards were primarily for very wealthy people as a convenience, so that they would not have to carry wads of cash in their pockets or purses. Today, the majority of credit card users are poor people,living pay check to paycheck and living way beyond their means. Think about it. Is that five dollar Starbucks coffee really worth it, every lunch break , five days a week.?  Those credit card bills quickly  add up, Credit cards are sneaky in that way.

It takes quite a bit of discipline,to pay the balances off each month. That is how the trap is set in those balances that continue to inflate with each purchase made.  While paying with cold hard cash, is considered a done deal. Always remember to keep every receipt for your purchases. It is wise to keep checks and balances of every dollar,dime or penny you spend. 

Credit card use should be assigned for emergency purchases only. The deadline is past due to pay a bill and a flat tire may need to be replaced  as soon as possible. These are the type of purchases that may warrant using a credit card. Anything else is frivolous and may lead the credit card user down “debt alley”.

Most young people, are intrigued and enthralled with this way of spending. It is no wonder, college campus’s across the nations host vampire kiosk waiting to get their teeth into these naive young adults. Everyone knows , cell phones,clothing and purchasing power are intoxicating to most everyone. 

Fast food is akin to fast purchasing. The bank admonishes us to, “don’t leave home without it”. Perhaps it is wiser to do just the opposite. The temptation of those fast easy purchases won’t be calling your name with just a swipe of that card.

Cash in hand, wins hand down! Credit card interest rates may be as high as twenty two percent.  Bad credit on credit card debt may haunt the debtor for seven long years. That is simple punishment for not having cash on hand.