9 Smart Reasons To Avoid Using Cash

For years, the worldwide trend has tracked toward becoming cashless. But there is also a segment of the population that uses only cash for their own particular reasons. Spending is definitely more controlled with a “cash-only” approach.  

After all, if we don’t have the money, we can’t overspend, right? But what is the downside? Here’s a list of some of the negatives that can happen when we make cash the king of our universe!

Cash Can Be Expensive

The use of cash is expensive for us, the banks, and businesses in lots of ways. Having cash accessible (dispensing it), guarding it, transporting it, counting it, and processing it costs money. 

Cash Is a Time-Waster

Banks tell us that we spend on average 30 minutes per month at ATM machines alone withdrawing cash. When we expand the math, that translates to over $30 billion dollars a year in wasted time across the U.S. 

Cash Is Dirty

According to a Scientific American report, 94% of all the cash we handle is pretty filthy. It has bacteria and germs that are transferred around by touch and it carries communicable diseases with ease. 

ATM Machines Can Be Even Worse

That ATM machine we use to get our cash probably isn’t even as clean as a public restroom. It’s literally handled by thousands of people each year and is cleaned rarely if at all, especially if it’s outside in a public area. 

Cash Can Be Dangerous

Cash is easily misplaced or lost and if it is, you're out of luck. It can be easily stolen and in fact, makes us more likely a target when it becomes known we may be carrying cash. 

Cash Is Inconvenient

When we buy a car, we’re not likely to carry a bag of money around with us, right? Even buying clothing or furnishings can require a large wad of cash so really it’s not the most practical way to shop and spend. 

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