CNBC put forth an article that started with a surprising piece of news: only one in ten Americans carry paper money with them. It does not seem like this should be the case, though, especially with paper money being one of the more convenient ways to pay for anything in the long term. Keep in mind, though, that there are many people who prefer using credit and debit cards instead. If you are curious about some of the other statistics linked to this story, Bobby Jain can draw your attention to them.
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.
Why are there so many people who refuse cash and instead turn to credit and debit options? These cards, from what I have seen, are less cumbersome, which means that every wallet and pocketbook can benefit from the space that is freed up from less cash. What about the many benefits associated with these cards, cash back being one of the more prominent examples to consider? These options should be enough for cardholders to keep in mind but there are a couple of potential negatives for people to keep in mind.
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.
Why are there so many people who refuse cash and instead turn to credit and debit options? These cards, from what I have seen, are less cumbersome, which means that every wallet and pocketbook can benefit from the space that is freed up from less cash. What about the many benefits associated with these cards, cash back being one of the more prominent examples to consider? These options should be enough for cardholders to keep in mind but there are a couple of potential negatives for people to keep in mind.
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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