A dollar, a greenback, a buck. There have been many nicknames for the US Dollar. Americans are proud of their currency as a safe-haven currency during economic hardship. We love our money. That is just part of our culture. However, I am kind of tired of it. I hate carrying cash.
You Can Lose It
One of the biggest reasons I hate carrying cash is that you can lose it. You can drop your wallet or be pickpocketed by a clever thief. You can drop a bill when digging into your pocket. You can forget cash in your coat pocket (which is always a pleasure to find later, but frustrating when you can’t find that $20 you thought you had). You can get the wrong change and not notice it, which is a sort of loss. You can forget to take your change. There are a million ways you can lose cash.
On the bright side, you can find cash too. I found a $10 on the way out of the mall a few months ago. And everyone finds plenty of lucky pennies. However, is it worth it?
If you lose cash, it is gone forever. You will most likely never get it back. Ever. It is gone. Lost. Period.
You Don’t Get Any Protection
Outside of being protected from losing it, you are not protected when you buy stuff with it. I buy virtually everything with my credit card. Thanks to Visa and American Express, my purchases are insured.
My Chase Sapphire Preferred card and my Starwood Card from American Express both offer huge benefits. They offer purchase protection. If the item breaks or I don’t like it, and the store won’t take it back, the card will reimburse me. The cards each extend the manufacturer’s warranty. The cards offer price protection in case the price drops after I buy it.
Those are huge benefits. They even extend to travel, lost luggage, and rental car insurance. You don’t get that from cash.
You Don’t Get Rewards
When you use cash, you don’t get anything for it. When you use a credit card, your bank pays you. (If not, take a look at the two cards linked above, your bank should pay you!)
I first learned about cash back cards in college. It was pretty sweet getting 1% cash back, then finding a deal for 2% cash back. Then I learned about travel rewards, bonuses, and free flights.
I recently went to London, Paris, and Amsterdam for $600 in total flight costs. I visited my sister for a weekend for $5 roundtrip. If you are looking for ways to make travel a reality for you and you think it costs too much, start by looking at what your credit card gives you.
It Is Bulky
While gangster wads are pretty sweet, a thick wallet sucks. I am not a Costanza, I am a minimalist. I hate having a thick wallet.
I have a weekend night out wallet that only holds a credit card or two and an ID. That’s it. That is the best way to travel.
You have to do math and usually end up with coins and more bills than you started with. That’s all I gotta say about that.
What Do You Think?
Are you a cash person or a plastic person? You already know how I feel, so leave me your thoughts in the comments.