CNBC posted an article in regards to paper money, stating that only one in ten Americans actually carry it with them. It's surprising, at the onset, because many people believe that paper money is one of the more convenient - not to mention long-standing - ways to pay for anything. However, credit and debit cards are available, which seems to minimize the importance of cash money. There is much more to consider, though, and Bobby Jain may be able to tell you more about this particular story.
CNBC stated that 78 percent of all Americans - surveyed by Princeton Survey Research Associates International - had less than $50 with them at all times. Even more shocking was that 49 percent of this same group carried less than $20 from day to day. Along with the fact that there were some who did not carry cash at all, it's clear that there are many financial statistics that will open many eyes. In particular, this draws attention to the fact that many people are comfortable with alternative payment methods.
It's not hard to see why, though, as credit and debit cards alike possess a number of perks. For one, they take up less space in anyone's wallet, pocketbook, or what have you. In addition, there are many cards which possess certain benefits - cash back being one strong example - that cannot be attained with cash alone. As much as I support the usage of these cards, though, I would be lying if I said that there weren't a couple of precautions that new cardholders should be aware of.
Bobby Jain can attest to the fact that, when they aren't paid off, credit cards can be declined. This is especially frustrating when making large purchases during holidays or weekends, which is only made worse if there aren't alternative methods of payment seen. According to financial authorities like Jain, this is one of the many reasons why people carry cash in addition to cards. It allows them to have the utmost amount of financial freedom and keep them from running into problems with their banks in the long term.
For those who do not carry cash with them at all, it is important to start going about this. You may never know when you'll find yourself in a bind and your credit or debit card simply refuses to work. Yes, these options may be strong but when they won't go through, for one reason or another, it's important to have cash as a backup plan. You may soon find just how much better off you will be if you have a number of payment options to take advantage of.
CNBC stated that 78 percent of all Americans - surveyed by Princeton Survey Research Associates International - had less than $50 with them at all times. Even more shocking was that 49 percent of this same group carried less than $20 from day to day. Along with the fact that there were some who did not carry cash at all, it's clear that there are many financial statistics that will open many eyes. In particular, this draws attention to the fact that many people are comfortable with alternative payment methods.
It's not hard to see why, though, as credit and debit cards alike possess a number of perks. For one, they take up less space in anyone's wallet, pocketbook, or what have you. In addition, there are many cards which possess certain benefits - cash back being one strong example - that cannot be attained with cash alone. As much as I support the usage of these cards, though, I would be lying if I said that there weren't a couple of precautions that new cardholders should be aware of.
Bobby Jain can attest to the fact that, when they aren't paid off, credit cards can be declined. This is especially frustrating when making large purchases during holidays or weekends, which is only made worse if there aren't alternative methods of payment seen. According to financial authorities like Jain, this is one of the many reasons why people carry cash in addition to cards. It allows them to have the utmost amount of financial freedom and keep them from running into problems with their banks in the long term.
For those who do not carry cash with them at all, it is important to start going about this. You may never know when you'll find yourself in a bind and your credit or debit card simply refuses to work. Yes, these options may be strong but when they won't go through, for one reason or another, it's important to have cash as a backup plan. You may soon find just how much better off you will be if you have a number of payment options to take advantage of.
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