When you should use cash - Deepstash

Bite-sized knowledge

to upgrade

your career

Ideas from books, articles & podcasts.

When you should use cash

  • When you have an emergency: Cash is accepted everywhere, so have some on hand. Dave Ramsey recommends having at least $1,000 in an emergency fund.
  • When you want to limit your spending: Psychologically, we spend less money when we use cash as you can see the money leaving your hand.
  • When you want to make healthier purchases: Customers who pay with cash are less likely to make impulsive purchases.
  • When you want to have a better relationship with the things you buy: When you pay with cash, you may feel a deeper sense of connection and pride in the item you purchased.
  • When you want to make a small purchase at a small store: Every dollar you spend at a small store, they're losing two cents automatically - a cost that could eat up into their already small profits.

STASHED IN:

147

MORE IDEAS FROM THE SAME ARTICLE

When you use credit cards responsibly, they can give you a lot of power. The best circumstances to use a credit card is:

  • When you want to avoid getting into (more) debt: Since your debit card is connected to a checking account, you theoretically only spend what is available in your account.
  • You want to pay for everyday purchases conveniently—things like gas, grocerie...

2 Reactions

Comment

It's time to

READ

LIKE

A PRO!

Jump-start your

reading habits

, gather your

knowledge

,

remember what you read

and stay ahead of the crowd!

Takes just 5 minutes a day.


TRY THE DEEPSTASH APP

+2M Installs

4.7 App Score