Is It Ever Better to Use Credit Cards than Cash

MoneyTips

When checkout clerks ask, “Paper or plastic?” they are referring to the type of bags desired, but they could be asking about your preferred method of payment. In today’s digital society, cash purchases are increasingly rare, but that does not mean it is always preferable to “Charge it.”

Many studies have proven that people who use credit for their purchases spend more than those who use cash. There is a psychological effect caused by physically handing your cash to someone else that makes you reconsider going through with a purchase, whether by deciding against it completely or purchasing a less expensive item.

Should you consider a cash-only lifestyle? Probably not — credit cards have too many advantages and there are specific times in life where the use of credit cards is a significant positive. For example, when you graduate from high school and strike out on your own, you will have no credit history. That makes it difficult to make larger purchases, acquire sch…

MoneyTipsWhen checkout clerks ask, “Paper or plastic?” they are referring to the type of bags desired, but they could be asking about your preferred method of payment. In today’s digital society, cash purchases are increasingly rare, but that does not mean it is always preferable to “Charge it.”
Many studies have proven that people who use credit for their purchases spend more than those who use cash. There is a psychological effect caused by physically handing your cash to someone else that makes you reconsider going through with a purchase, whether by deciding against it completely or purchasing a less expensive item.

Should you consider a cash-only lifestyle? Probably not — credit cards have too many advantages and there are specific times in life where the use of credit cards is a significant positive. For example, when you graduate from high school and strike out on your own, you will have no credit history. That makes it difficult to make larger purchases, acquire sch… […]
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