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.
For one, CNBC stated that 78 percent of Americans carried less than $50 in paper money. This was found out as a result of a survey done by Princeton Survey Research Associates International, which also discovered that 49 percent of all Americans had less than $20 with them at all times. The fact that there were even some that strayed from cash entirely was an especially eye-opening piece of information for me. In one respect, it shows that people are becoming more reliant on other types of payment.
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.
One of the concerns that Bobby Jain can bring to your attention is that credit and debit cards alike can be declined without the proper financial care taken. You do not want to see this occur, especially if you are looking to make a tremendous purchase. Financial authorities such as Jain understand that this is one of the reasons why, even with the advancements made in terms of technology, paper money is still carried out. Having various options all but guarantees a greater degree of financial freedom.
Are you the kind of person that does not carry as much cash with them as they should? I feel as though more people should be inclined to carry cash, especially when certain financial situations can be made easier because of this. As strong as credit and debit cards may be, you never want to be without alternative methods of payment if something goes awry. If you have a greater number of options on hand, in the financial sense, you will ultimately be better off.
For one, CNBC stated that 78 percent of Americans carried less than $50 in paper money. This was found out as a result of a survey done by Princeton Survey Research Associates International, which also discovered that 49 percent of all Americans had less than $20 with them at all times. The fact that there were even some that strayed from cash entirely was an especially eye-opening piece of information for me. In one respect, it shows that people are becoming more reliant on other types of payment.
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.
One of the concerns that Bobby Jain can bring to your attention is that credit and debit cards alike can be declined without the proper financial care taken. You do not want to see this occur, especially if you are looking to make a tremendous purchase. Financial authorities such as Jain understand that this is one of the reasons why, even with the advancements made in terms of technology, paper money is still carried out. Having various options all but guarantees a greater degree of financial freedom.
Are you the kind of person that does not carry as much cash with them as they should? I feel as though more people should be inclined to carry cash, especially when certain financial situations can be made easier because of this. As strong as credit and debit cards may be, you never want to be without alternative methods of payment if something goes awry. If you have a greater number of options on hand, in the financial sense, you will ultimately be better off.
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