Sometimes, when you take the steps to start reorganizing your finances, you might be surprised to find you’re using “invisible money.” Numerous direct debits, paying by credit card, or paying by phone can make it difficult to keep track of all your expenditures. This is why, for many people, paying cash might be a viable solution. It’s so easy for us to pay by credit card or debit, or with our phones, but there is still a case to be made for paying with and using cash. Here are some great reasons why you should still be using cash.

No Overspending

Finding an ATM close to you ensures that you have greater control over your finances. When we use direct debits for our bills or pay by credit card, it can certainly seem easier to overspend. When you become more physically aware of the real money you have in your purse or wallet, it helps you become much more aware of how much stuff really costs, which is critical to learning the fine art of setting a budget. 

If you go out with a group of friends and you only have $20 to spend, it stands to reason that you will work harder to make your money go further, which is different to when you have a credit or debit card; it is not so easy to see those limits on your finances.

You Don’t Need to “Opt-in” for Anything!

Paying with cash can take away the marketing side of things, for example, when paying at the store. If you pay by cash, there’s less of a chance that you would be asked for your phone number or email address. This can have a wide-reaching impact, because you are not exposing yourself to potential data breaches or phishing scams as you are not providing sensitive information, whether it’s your credit card details, your email address, or your real address! 

One of the best pieces of advice that we can give anyone is to look at your email subscriptions and hit “unsubscribe” for the vast majority of them, you will have far less stress and hassle!

Fewer Security Risks

There are many risks when paying by card, and when you pay with cash you can’t pay for things online. Yes, digital payments can make for easy money transactions and can mean you get a number of attractive discounts from a wider variety of stores, but the fact is that when you pay with cash, you are minimizing security breaches because when you hand over the cash there is no risk of your personal data being held to ransom. 

While it may seem like you’ve got to pay by card or PayPal online, online-to-offline payment platforms are making a big difference in e-commerce businesses. Business use this service to help customers pay by cash, and from the perspective of an e-commerce business or the consumer themselves, can be a lifesaver. Security breaches are so commonplace to the point it can be very frustrating if you have put a lot of sensitive information into an online marketplace that experience a data breach. While we are far more conscious of security protocols in general as we are putting so much of our lives online, if there are fewer security risks in your life, you will feel much more peace of mind.

You’ll Be Ready When the Systems Are Down!

If you ask someone about what life was like without the internet 25 years ago, and they will tell you how simple everything was. Now everything is wired up to it, which has increased communications, but the fact is that when it comes to payments, you can be left struggling if a machine declines your credit card whether paying online or in the middle of a store. 

If systems go down and you pay by cash, it can get you out of a tight spot! While we’re not saying we should distrust online payment platforms completely, it’s important to remember that although society is slowly becoming a cashless one, we must remember how cash can benefit us when the systems go down. 

Paying with cash doesn’t just mean it’s more convenient and you actually have an understanding of your finances, but it can put you in an advantageous position if there are problems with the internet. There can be so much chaos if the internet goes down, and it would seem that life falls apart in that moment. It’s worth us all hanging onto our cash!