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The Cash Advantage

In today’s tough economy, more and more people are moving away from using traditional banks. Why? Sometimes it’s just distrust—putting part of the blame of the recession on Wall Street and banking systems out of control and unregulated. Often though, high unemployment or underemployment has left Americans strapped financially. They are unable to cover high and rising higher bank fees and penalty charges; staying with a bank just puts them in a worse financial position.

There’s another group of people: Those who choose to manage their finances outside of the banking system. They are employed, often at higher salaries, but they are frustrated with banks and ever-increasing fees.

Millions of Americans fall into these categories; they are termed “the unbanked.” They choose to have neither a checking or savings account, and use prepaid debit cards, bill-paying services, money orders, small loans, check-cashing services, and…


Cash has so many advantages, it’s a wonder that more people aren’t using it!

  • First, there are no fees, no penalties, no paperwork, and no interest charges for using cash.
  • In fact, if you are purchasing something, you can frequently negotiate for a cash discount
  • There’s no danger of identity theft when using cash.
  • Cash is accepted—and welcomed–almost everywhere
  • Unlike almost everything else you touch, cash is anonymous and private, and leaves no trail.
  • Cash is what you want to have quickly at hand in case of an emergency—it should be in your emergency “go-bag.”
  • Cash, even just your leftover pocket change, is easy to set aside to save for one or more specific goals.
  • Just think—no PINs to remember!
  • With cash it’s easy to stay on budget—you can’t spend what’s not in your pocket. It’s easy to calculate how much you have available—just count it!

Cash is so convenient and easy to use—why are we being convinced to get away from it?

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