7 reasons you'll always need cash

Despite predictions of a cashless society, coins and dollar bills aren't going away anytime soon. In fact, under some circumstances they remain the best way to pay.

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VIDEO ON MSN MONEY

58Comments
Mar 7, 2012 9:36AM
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There are other times when you need cash, garage sales, flea markets, public markets, street vendors. Have you ever missed a great buy because you didn't have cash. I've gotten some

great deals because I was the one that was there with the money while the other person

said they had to find an ATM.

Mar 7, 2012 9:23AM
Mar 7, 2012 11:22AM
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Very few places or people who won't take cash, although I did run across a Best Buy check-out line that wouldn't.  I still feel better If I have a few hundred in my wallet.  Nobody asks for an I.D. or steals your credit card info with one of those little devices when you plunk down cash.
Mar 9, 2012 2:08PM
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great article..I run my pet business,... cash only..works great! no bounced checks..also
when I pay in cash it is done..no bill will be coming in..I think it helps you to stay on track...!

thank you for the article !!
Mar 7, 2012 12:04PM
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I don't know what you guys are doing for tax evading and drugs to be a bigger part of the article than the money but cash is just KING

Ever try to haggle? Cash means I'm paid now and there is no bank error. I as a merchant don't have to pour over deposits from $.50 to whatever to see if there were errors to give to another person I have to pay to check the math. Plus each electric transaction costs. So, anything under a couple bucks vendor is losing money. It's why a piece of candy is so much or a 16 oz cost more than a 2 liter.

Cash also means less fraud to the vendor because you can see if the money is fake now. Parents, ever try to give each of your kids a debit card at the store. I don't think so. Cards limit users and cash doesn't report spending habits like adult diapers or condoms even that movie & licorice whip for your anniversary. So many more LEGAL reasons.  

Mar 9, 2012 2:05PM
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Paying with cash forces one to stay within their budget!  I use cash, and set limits as to what I can afford-if something falls over that limit, I can't buy it.  Thus, I never over-extend myself.  If everyone was more prudent with their budget and careful not to over-extend themselves our country may not have been in the economic mess it is today!  Yep, I had Realtors try to sell a big house, but I refused to go above my limit.
Mar 9, 2012 5:42PM
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I stopped using banks a little over a year ago, and love it, took a bit of getting used to but very do-able and the only way to fly if you ask me.
Credit is for broke people who can only struggle to make payments, 'cause if you have to use credit to buy something, you can't afford it, bottom line.
Cash is king and debt free way to be, piss on the banks.
:)

Bankers and broke people will not approve of this, but those that have money and know how to use money know credit cards and bank fees are a scam.

Mar 9, 2012 8:21PM
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It is ridiculous to pay $3.75 with a credit or debit card, even if you pay whatever balance at the end of the month.  I find it more natural to pay such a small amount with cash.  I do not understand why people that work every day of their lives don't have at least a couple of twenty dollar bills tucked away in their wallets to pay for lunch or a cup of coffee...paying with plastic is not faster even if it may be convenient at times.  I totally dislike the idea of having to pay a fee for using my own money as well, so I prefer a little bit of cash in my pocket, beside a little green makes for a better looking wallet...
Mar 9, 2012 11:50PM
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I dont use anything but cash. I dont use banks for anything other than cashing checks. I keep a no fee, no interest account with 10 bucks in it to keep it open, and thats it. Thats all the money the banks will ever get to use from me.

     If I cant pay cash for it, im not buying it. And except for a house, which I cant afford anyway, not using banks has not kept me for buying everything I want and need. Ive just had to save up for some things. Not as hard as it sounds. And a hell of a lot cheaper paying cash. You can get deals paying cash you know.  

     Not using banks hasnt hurt me one bit, and ive saved a fortune in fees and interest. I stopped using banks for anything but a check cashing service, when they started charging me for keeping my money there.

 

I remember when they used to pay you for putting your money in their banks. If more people did what I did, and stopped using banks, like I did, maybe they still would.

Mar 7, 2012 12:34AM
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Always Cash..Electronic Banking is a way to "do away" with Jobs.  Like I tell the girls at my Bank.  If I have Direct Deposit and a Debit  Card the Bank can get rid of your Job..And that's what Corporate America is all about... 
Mar 7, 2012 1:47PM
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to the guy who said, "Electronic Banking is a way to "do away" with Jobs."

 

I see your point about corporate america, but I also find this mentality one of the biggest problems with america.  Why should we keep a job just because it is a job and we dont need it?  Why cant we have people doing jobs that we need?

 

 

Mar 9, 2012 5:26PM
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Read the book of revelations in the bible about the mark of the beast. This is something that everyone will have when they outlaw cash if you want to buy or sell goods. The public may take it hook line and sinker when they are told it will eliminate tax cheats, drugs, and crime...but you will lose your freedoms then. Be smart people, NEVER let cash be eliminated!!!!! I'm surprise more of you right wing christians haven't read this and understand what it means to your freedom.
Mar 9, 2012 7:43PM
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Chaz, you're clueless and broke.
If I have plenty of cash why on Earth would I pay a monthly credit card bill unless I just don't have any understanding, CC company's are a scam on the poor and middle class.
If you have plenty of cash, why do you need credit?

karate kid, i keep about 5k on my person at any given time, everything else gets invested in mutual funds, IRA's and other means that earn me a return, I do not pay banks to use my money which is what most folk do, really, look into it.
All my daily needs are close by, I drive by to pay with cash and it is done, I don't get monthly statements for everything, just the usual household stuff, utility's, cell bill, grocery's, etc.
You don't get wealthy by paying monthly payments on everything, you got to pay yourself and make it a priority.

If you are making payments every month, credit cards, car notes house note, little johnny's braces so on and so forth, you have nothing to invest in your future, you are investing in another persons or corporation. That doesn't sit well with me, I like my money to do what I tell it to do.
Even this article is a bit misleading in that they don't tell you the actual truth about money and how it works. propaganda.
I can pay cash and get most things a bit cheaper by flipping those 100's out, if they refuse, I'm in no hurry, paying with credit, you have no room to bargain.
Credit Cards are bad, it is a waste of money for those that use them, some rationalize the convenience of CC's, still doesn't make it truth.
Regards.
Mar 29, 2012 1:26AM
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when everything goes to crap the only thing with value will be water, food, tools, shelter,  transportation, ammo, weapons, fuel, and anything else that doesn't need power that will be useful. you can't eat money, gems, gold and plastic. the only thing of true value is that which helps you live/survive by providing what is needed/necessary, the rest is junk.
Mar 9, 2012 7:27PM
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I Promise if I offer Cash for an item I can negotiate a better deal most of the time. Cash is King and always will be. I don't want my spending habits being monitered and followed.

Mar 10, 2012 1:16AM
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D_R_P_
FICO score doesn't mean squat, unless you want something you can't afford.
However, you think exactly like they want you to think.
Cash is still king.

Mar 10, 2012 1:55AM
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I've had more money stolen from me through my bank account than I've ever had in robberies and muggings in my entire lifetime.  As a result, I severely limit how much I keep in my account, and prefer to keep the cash elsewhere, often in a safe.
Mar 9, 2012 2:29PM
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"Money doesn't talk... it screams."
Mar 9, 2012 2:10PM
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Also ....just because you run a cash business doesn't mean you don't pay taxes..I pay 
taxes just like everyone else !
Mar 7, 2012 12:03AM
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Avoiding Taxes is probably the most widely used

 

Side Note.... stop giving beggars money, donate to charities that require the less well off to try to become better

Maybe if all you bleeding hearts would stop supporting these bums they would be forced to face their addictions, mental problems or authority issues

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