The old saying “cash is king” has been untrue for years.Card and app transactions are approx. 60% of all purchases Between $10 and $100, cash is meant to be used primarily for small purchases, as well as occasional businesses that don’t accept credit cards or cash apps. but still cash very usableA few years ago, when a hurricane knocked out my town’s power grid for seven days, local businesses went cash-only overnight. Having some cash in your emergency bag is a mustAlso, using cash instead of cards and digital payment systems keeps you within your budget because you physically handle your money. plus, Cash is the ultimate means of anonymous spending. Virtually untraceable.
But if you want a cash-only lifestyle for these benefits, you run into some problems. T.his world is more and more It is built around cards, chips and payment apps. Can you really live on cash only in today’s world?
Can I buy daily necessities with cash?
a Purist Of course, a cash-only lifestyle also means losing a bank account, but living without a bank account isn’t easy. is likely to be needed, so let’s specify it. Otherwise, you’ll end up cashing your paper salary at the check cashing office and paying a ridiculous fee for the privilege.Then ISo let’s take a look at the basics of life and whether there is an option to pay cash for them.
- housing. You may be able to make a deal with your landlord to rent an apartment for cash. This may be a delicate negotiation :OOn the one hand, they may prefer cash for the same reasons you do. On the one hand, this proposal may make you question your financial situation.believe it or not you can buy a house with cash— but you’ll run into heavy IRS scrutiny. And you’ll need to find a seller who doesn’t mind taking payments via a dump truck that pours dollar bills onto your front lawn. Possibleso that it can.
- utility. Paying electricity, gas, water, and telephone bills in cash Possiblebut often difficult. Utility companies are happy to accept cash, but only if you go to a payment center in person. Similarly, if there is a telephone company store nearby, Cash payment is usually accepted, but if there is no place nearby, it will be SOL.
- food. grocery storey stores are pProbably the easiest place to use cash. Almost all grocery stores are set up to accept cash, even if they have self-service checkout kiosks.Supplying bill after bill can be a bit flaky to these kiosks absolutely!
- transportation. Cash is still accepted on most public transport, this is changing, so you should check your local service. Old school taxis usually take cash. You can buy a new or used car with cash.the dealer may be caught off guardbut they Receive dirty anonymous money. Insurance companies don’t like it, but in most cases you can stop by a local office and pay in cash.The only exception here is rental cars.You are Might be so Find a car rental company that accepts cash on the final bill. However, in most cases a credit card is required to reserve, hold and secure.Still, most cash-only transport yes.
Can I pay cash for the most common “surcharge”?
all rightso you can live a bare minimum, A cash-only lifestyle if you choose your living environment carefully. but wIf you actually want to get out of the house and do something, do you have a hat?
- store. Almost all retailers will continue to accept cash, although they may find exceptions. Some states and cities, such as New Jersey, Rhode Island, New York and Massachusetts, have local laws requiring all businesses to accept cash, but most In part, it is up to individual stores to determine cash policies.But this absolutely for the time being.
- Airlines. yes, you can buy tickets with cash In most cases, as long as you can physically get to the airline’s ticket booth. Keep in mind that buying tickets with cash will sacrifice some of the benefits you get with a credit card, such as easy refunds and some travel protection.However we rate this yes.
- Hotel. This is complicated. Basically like a luxury hotel, Less likely to accept cash. A rundown motel? probably. A four-star luxury restaurant? Probably not. Some hotels accept cash for the final bill, but a credit card is required at the time of booking and check-in. A few Hotel accepts cash If you’re a walk-in guest and can pay a deposit, they don’t have a credit card, but you’ll have to call ahead to confirm this.this is perhaps.
Other cash only Considerations
You can still maintain a cash-only lifestyle if you really want to, but it comes with some limitations.But it’s you can That doesn’t mean there are no downsides:
- comfortable. Sticking to cash limits your options, often requires extra effort, and can actually cost you more.
- supply. Living on a cash only basis requires a lot of planning because you need to always have physical currency on hand. If you have a bank account, you will have to physically go to the bank and withdraw the funds. And if you spent your last dollar on a hot dog and don’t have the car to drive home, You will have zero choices.
- theft. One of the most miraculous things about credit cards is how easy it is to recover from theft. In many cases, reporting credit card fraud results in zero personal loss.On the other hand, there is nothing to lose cash However loss. It’s impossible to get that money back unless you can physically track it.
Final Verdict: You Sure can Living on cash only. However, there are some serious drawbacks that must be considered.
Can you live on cash only?
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