While recently making a purchase at a local major retailer, I found myself a little discombobulated to find that half of the self teller machines had signs on them that said “no cash, credit card only.” I was shocked. I remember not too long ago, the express lanes at local grocery stores read cash only. Are we parting with cash or do the retailers know something we don’t?
I pulled up some numbers so I could have my facts straight, but research shows you will spend 12-18% more money when using plastic instead of cash. In it’s own study, McDonalds found when they started accepting credit card purchases, the average purchase went from $4.50 up to $7.00. That is incredible!
I am here to say that cash still is king. You will keep more of your hard earned money when you use cash and it is still a very powerful negotiating tool when you wave around a fan of Benjamin Franklins. (Try it, I dare you)
Have a plan, because retailers do.
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My name is Tim Parady and I am 36 years old. I was born in Connecticut, raised in Virginia, had a brief layover in Kansas which led me to Texas where I met my wife and best friend. We just celebrated 145years of marriage.
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78% of Americans live paycheck to paycheck, with no money in the bank and little knowledge of how to invest for their retirement. You can have a different future. You can win with money and I can show you how.
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