A free bank account and a debit card or even better a credit card with rewards will always beat out cash.
I've met many people who prefer cash over card for budgeting restraint and if you must do it then yes keep doing it. However please realize the following:
A good credit card can return 1-2% easily, but cash has a negative return rate. Cash loses you money, unless you never lose a single penny, dime, etc. However everyone does at some point.
Also the U.S. government loses money making pennies. So not only are you losing money, but we are losing tax dollars.
Good reasons to keep cash still exist (emergency money, good cash only deals etc.), but ideally you put it all on debit/credit/check and pay it in full monthly.
Sorry if this seems painfully obvious, but many friends and relatives of mine still do this.
December 31, 2016 at 11:32PM
