With the ease of electronic payments, credit and debit cards, and money transfers, many Americans have relied less on cash for expenses and purchases.

In fact, some people rarely even use cash!

It’s good to be reminded that there are many benefits of using cash, some that may be a bit surprising.

For example, cash helps protect your privacy.  There is no need to provide an account number or card number.  Cash can be accepted for payment without even providing your name.  There is a feeling of anonymity as well as purchase power that cash provides.

There is also the ability to exchange cash for products without the need of electronics, phones or the internet.  Even without electricity, there is still power in cash.

Here are a few more reasons you may want to consider utilizing cash:

• It can help you stick to your budget! Cash feels different and cash is emotional.  When we see what we have it helps us make wiser spending choices, so we stay on plan.  Cash helps us feel great when we are disciplined!
• Cash can decrease impulse purchases because cash is harder to part with than it is to swipe a card.
• Cash makes it easier to monitor and balance our accounts with fewer transactions to track.
• Cash can be great in an emergency. Stash some cash and experience a feeling of security and confidence should something unexpected come up.
• Sometimes you can even get a discount when paying with cash. Just ask!
• Cash is a great way to tip service workers. They have access right away, and that visual is a great way to communicate your appreciation for their services.
• Cash also helps decrease your reliance on credit cards.

As a financial coach, I encourage the use of “cash envelopes” to help budget for spending categories.  It helps organize money, and it makes it easier to stick to the plan.

If you’d like to meet and talk more, click HERE to schedule your personal financial coaching session!

Lisa Atkinson
TFCU | Personal Financial Coach
latkinson@yibangyi.net

As a Personal Financial Coach, I do not provide legal or tax advice.
Tucson Federal Credit Union does not make any guarantees that this service will achieve any particular objective or outcome. For any legal advice, please seek the advice of an attorney or tax professional.