Last Updated on Mar 6, 2020 by James W


Today, many people use credit cards and even online payment methods in order to pay their bills or to make purchases and transactions. Electronic methods of sending and spending money have become popular because it can be faster and easier to charge something or to pay a bill online using your credit card than it is to take out cash.

Still, even in this electronic age, there are times when you need to have cash available to you. There are a lot of benefits to being able to access cash and a lot of reasons why it is still essential to be able to access cash when you need it.

Why Cash is Still King

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Here are some of the many reasons why it can pay to have actual hard cash on hand in many situations:

  • When you spend cash, you may spend less.  As Investopedia reports, credit cards and debt cards can both encourage you to overpay and to over-shop.  When you actually have to physically hand over cash, you actually think more about what you are doing and about the money that the specific product or transaction is costing you. When you separate the purchase from the payment of cash, then it seems less real and the costs seem more intangible rather than driving home the point that you are parting with your hard-earned money. This means that if you are trying to get out of debt or stay out of debt or control your budget, using cash for the bulk of your purchases may be a smart choice. Many families have gone to a cash-based envelope budgeting system to help them stick with their goals of keeping to a budget.
  • You don’t need to worry about your credit score when you have cash.  In order to be able to get a credit card or borrow money through a bank or many lenders, you typically need to have a good credit score. This means that you need to have reasonable or low balances on your credit cards, that you need to have a history of making on-time payments and that you need to have a credit history that lenders can judge you by. Not everyone has good credit and not everyone is going to qualify for a conventional loan. Fortunately, there are ways to borrow money when you do need to get access to cash, and can provide you with the funds that you need if you cannot qualify for a conventional loan and you have bills or expenses that need to be paid.
  • Some things cannot be paid for unless you have cash. There are many different stores and shops that only take cash in order to avoid high credit card fees.  You don’t want to be deprived of being able to buy items in all of these stores because you have no cash available to you.  In other situations, you will find that someone takes cash or a check for payment but does not accept credit cards. This is even more common than stores that accept only cash payments.  Landlords, for example, are typically not going to allow you to pay the rent on a credit card and you will need cash or a check to get your monthly rent paid. Mortgage lenders and car loan providers typically don’t let you pay with a credit card either, since you don’t want to be taking on credit card debts to pay your other debts.
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Even utility companies like water or electric companies usually aren’t going to want you to put a bill on a credit card and may either not allow you do to so or may charge for the privilege of paying using a method other than cash or check. Cash is the key to being able to pay for things that you cannot use credit cards to buy. And remember, cash speaks when it comes to making a settlement.

These are some of the key reasons why many people still choose to use cash even with other alternatives.  If you are in need of cash because you have important expenses that cannot wait, car title loans can be the right solution. Why? Because you don’t have to undergo a credit check in order to get the money that you need to meet your pressing current obligation. Looking for more reasons to stick with cash? Check this out.

Author Bio:

Tom Herrera is a paralegal who works for a bankruptcy lawyer. He gets to see what happens to people who experience legitimate financial difficulties up close and personal. Along the way, he has acquired a lot of knowledge that can help them out. Through his blogging, he shares it with the masses.


Founder and chief editor of Blogger, Affiliate Marketer, Tech and SEO geek. Started this blog in 2011 to help others learn how to work from home, make money online or anything related to business and finances. You can contact me at