{"id":327,"date":"2017-09-08T15:14:21","date_gmt":"2017-09-08T15:14:21","guid":{"rendered":"http:\/\/belbolcpa.com\/blog\/?p=327"},"modified":"2017-09-08T15:14:21","modified_gmt":"2017-09-08T15:14:21","slug":"youre-not-too-sophisticated-for-cash","status":"publish","type":"post","link":"https:\/\/belbolcpa.com\/blog\/youre-not-too-sophisticated-for-cash\/","title":{"rendered":"You’re Not Too Sophisticated for Cash"},"content":{"rendered":"

\"\"<\/a><\/p>\n

It seems as though nobody uses cash anymore, but why should you? Smart people use credit cards and pay the bill at the end of the month so they can earn points, build credit, and have additional time to pay for their purchases, also known as \u201cfloat.\u201d But is it really that smart to use a credit card or check card to make all of your purchases, such as groceries, gas, dining, etc.?<\/p>\n

What exactly are the benefits of using old-fashioned cash? I\u2019ll give you a few:<\/p>\n

    \n
  1. Easier Budgeting:<\/em> No one likes to budget, which is why almost no one does this. But with cash, you can easily set aside a certain amount that you need each week for variable expenses, such as groceries. Once you start using cash you will become more aware of how you spend your money as it\u2019s more tangible than swiping a card.<\/li>\n
  2. You Will Spend Less:<\/em> It\u2019s easy to whip out your card a make purchases without even realizing how much you are spending. I\u2019ve heard statistics that say that you tend to spend between 10% to 50% more on purchases when using a credit card or check card versus using cash. If your variable expenses are $50,000, then a 10% savings would equal $5,000, which is greater than any credit card rewards or possible float.<\/li>\n<\/ol>\n

    Watching your spending is one of the ways of becoming wealthy or at least financially stronger. I have witnessed this habit over the years, although it would be considered a small sample size and not an actual study, but there is a great book that espouses frugality called \u201cThe Millionaire Next Door\u201d by Thomas J. Stanley.<\/p>\n

    As a caveat, I do not recommend using cash for business<\/a> expenses as it creates an accounting nightmare.<\/p>\n","protected":false},"excerpt":{"rendered":"

    It seems as though nobody uses cash anymore, but why should you? Smart people use credit cards and pay the bill at the end of the month so they can earn points, build credit, and have additional time to pay for their purchases, also known as \u201cfloat.\u201d But is it really that smart to use […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[2,3,90,7,8,18],"tags":[20,135,29],"class_list":{"0":"post-327","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-budgeting","7":"category-business","8":"category-debt","9":"category-expenses","10":"category-financial","11":"category-taxes","12":"tag-budgeting","13":"tag-cash","14":"tag-expenses","15":"entry"},"_links":{"self":[{"href":"https:\/\/belbolcpa.com\/blog\/wp-json\/wp\/v2\/posts\/327","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/belbolcpa.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/belbolcpa.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/belbolcpa.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/belbolcpa.com\/blog\/wp-json\/wp\/v2\/comments?post=327"}],"version-history":[{"count":1,"href":"https:\/\/belbolcpa.com\/blog\/wp-json\/wp\/v2\/posts\/327\/revisions"}],"predecessor-version":[{"id":329,"href":"https:\/\/belbolcpa.com\/blog\/wp-json\/wp\/v2\/posts\/327\/revisions\/329"}],"wp:attachment":[{"href":"https:\/\/belbolcpa.com\/blog\/wp-json\/wp\/v2\/media?parent=327"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/belbolcpa.com\/blog\/wp-json\/wp\/v2\/categories?post=327"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/belbolcpa.com\/blog\/wp-json\/wp\/v2\/tags?post=327"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}