Are you someone who primarily relies on cash for your day-to-day purchases? While using cash can be convenient and help you stick to a budget, there are certain things that you should avoid buying with it.
Electronic Devices & Appliances
With the constant technological advancements, it’s no surprise that electronic devices and appliances make our list. When purchasing these items, it’s essential to have a record of the transaction for warranty purposes. Paying with cash will not provide you with this necessary documentation.
Like electronics, a credit or debit card is advisable when purchasing furniture. This ensures a transaction record and offers protection against potential damages or defects.
Travel & Hotel Bookings
Using cash for travel and hotel bookings can leave you vulnerable to scams and fraudulent activities. It’s safer to use a credit card, which offers protection against these types of incidents. Additionally, using a credit card can earn you rewards and benefits such as travel points.
When making a significant purchase like jewelry, it’s essential to have proof of ownership. This is especially true for expensive items that are easily lost or stolen. A credit card gives you a transaction record and protection against theft or loss.
Car Down Payments
Buying a car is a significant investment that should be made with caution. Using cash for the down payment can put you at risk if something were to go wrong with the car. Using a certified check or wire transfer for these transactions is best.
With the rise of online shopping, protecting yourself from fraudulent websites and scams is essential. You can easily dispute any unauthorized charges and track your purchase using a credit card. Paying with cash or check online can make it more difficult to prevent fraud or retrieve your funds if something goes wrong.
When it comes to medical procedures, cash payments should be avoided. Not only is it risky to carry large amounts of money, but you may also need proper documentation for insurance purposes. Using a credit card or personal check for these transactions is best.
Expensive Events & Tickets
Whether it’s a concert, sporting event, or theater show, avoiding using cash for expensive tickets is best. By purchasing with a credit card, you’ll have proof of purchase and protection against issues such as canceled events or lost tickets.
While paying your monthly bills in cash may seem convenient, there are better options than paying your monthly bills in cash. Paying each bill in person is time-consuming, but you risk losing receipts and proper documentation. It’s much easier and safer to pay online with a credit or debit card.
Down Payments for Rentals
Similar to car down payments, paying for rental properties with cash can put you at risk if something were to go wrong. Using a certified check or wire transfer for these transactions is best.
High-End Clothing and Accessories
Purchasing designer clothing and accessories with cash may seem luxurious, but there are better options than this. By utilizing a credit card, you can earn rewards and benefits while providing proof of purchase in case of any issues.
Home renovations can be costly, and it’s essential to have proper documentation for tax purposes. By using a credit card, you’ll have a record of the expenses and protection against any issues arising during the renovation process.
Lastly, using cash to pay for legal services is not recommended. It can be challenging to track your payments, but you may also not receive proper documentation for tax purposes. It’s best to use a check or credit card for these transactions.
Taxes and Cash
While cash may seem convenient for paying taxes, it’s not recommended. Using a credit or debit card gives you proof of payment and the ability to track your expenses for tax purposes easily.
Rental cars are another purchase that should be made with a credit or debit card. Not only will this provide you with insurance coverage, but it also allows for easy tracking of expenses and the ability to dispute any unauthorized charges.
Using cash to purchase plane tickets should be avoided. Using a credit card gives you proof of purchase and the ability to dispute any issues quickly arising during your travels.
10 Things People Voted Are Massive Wastes of Money, but You Keep Spending on Them
Saving money is a challenge because we can make many tempting daily purchases. A user on a popular online forum wonders, “What’s something that you think is a waste of money, but no one else seems to think so?” Members share their replies in the comments. Do you agree with their thoughts?
15 Overpriced Expenses That Leave You Feeling Ripped Off
You know that sinking feeling when you realize you’ve been duped? We’re talking about those moments when you shell out your hard-earned money only to find out later that you’ve paid too much. Well, strap in because this ride is about to get bumpy.
299 Essential Household Things To Buy for a New House
Whether you are just starting on your own or living in the same place for years, these essential things to buy for a new house will make your life easier and help you maintain a healthy lifestyle.
Grocery shopping can be a real budget-killer if you’re not careful. Every aisle is a minefield of money-drainers and wallet-emptiers that can leave you wondering where your paycheck went.
Life is full of pizazz, but sometimes it feels like the piggy bank is bled dry to keep up with it all.