Bookmark These: The case for paying cash
By Reid Kanaley
http://www.JewishWorldReview.com | (MCT) What's more unfashionable than paying in cash? Not much. But the advantages in many situations outweigh the hassle of counting your change.
Not for convenience: In an age when some banks let you pick your own photo or logo to put on your credit card, some people see using cash as a throwback, says this article at Investopedia.com. Indeed, it says, the convenience of plastic is not what you're after when you choose to use green-backs. Still, if overspending is your problem, paying cash is one of the few ways to finish a month without having increased your debt load. http://bit.ly/HofsJw
Cash equals pain and better health: Paying in cash at the grocery compels shoppers to make healthier food choices, according to this episode of Scientific American's 60 Second Mind podcast series by Christie Nicholson. Researchers found that credit- and debit-card shopping really does foster impulse and junk-food buying. By contrast, shoppers feel a sort of "pain" in forking over cash that limits the impulse-buying. http://bit.ly/mKkajh
Cash is king of discounts: This post by Michael Estrin at Bankrate.com says there's money to be saved in paying cash at establishments that offer discounts for doing so. First, there's a rise in the number of gas stations offering a discount for cash. In addition, take-out restaurants and doctors' offices often give discounts for cash; sometimes, the savings are substantial. Ask in advance, and don't be bashful. http://bit.ly/96jSCF
Cash for clunkers: Cars.com offers this post by Colin Bird to outline the advantages of paying cash for a car. The thought seems impossible for most new-car buyers, but the savings in interest costs on a car loan could be substantial. The advantage is less clear if the dealer is offering zero interest. http://bit.ly/H3iZ6w
And watch out: Since dealers often benefit from the financing part of a car sale, Autoadvice.com warns that tipping your hand too early that you'll pay cash likely will push a dealer to look for other ways to make money on a car sale. http://bit.ly/1L5RaX
Every weekday JewishWorldReview.com publishes what many in the media and Washington consider "must-reading". Sign up for the daily JWR update. It's free. Just click here.
Comment by clicking here.
Finding, fixing your credit score
© The Philadelphia Inquirer. Distributed by McClatchy-Tribune Information Services.