NDSU Extension Service - Ramsey County


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Paying with Cash

Paying With Cash

            In today’s world, paying with cash is the exception, not the rule. Most people pay most of their bills with a debit card or credit card. The convenience of paying with debit or credit cards allows individuals the ability to avoid carrying cash, and have the protection against theft or losing money.    But paying with cash may offer you several benefits you have never thought of.  

            *Easier to save money - Paying with cash provides you loose change from almost every purchase you make. Collecting these coins in a piggy bank will increase your savings quickly if you have the discipline to avoid spending loose change.

             *Staying out of debt- You can’t spend more money than you have and avoid overspending your bank account or charging too many purchases on your credit card.

            *Easier to limit your expenses - Paying with cash will ease how much you spend for your purchases. It is easier to set limits which fit your budget when you don’t take more cash with you than you want to spend.

            *Obtaining discounts - Many stores offer discounts if you pay with cash as they do not have to pay retailers fees on credit cards or debit cards.  You can always try to bargain for a discount if they don’t offer you one!

            *Always accepted - Cash will always be accepted if you pay in the currency of the country where you make your purchases. Checks are not always accepted and there are still shops which don’t accept credit cards or even debit cards.

            *Better protected against identity theft - Paying with cash protects you against identity theft as personal information isn’t part of the transaction.

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