Thanks to the credit reporting agency Equifax, many Americans, who previously were unconcerned about their personal data, now have their eyes opened to the devastation that a cyberattack makes possible. The recent massive security breach exposed the personally identifiable information of more than 143 million Americans, including social security numbers, birth dates and home addresses, earning non-stop national headlines. These data elements give hackers all the tools they need to succeed in identity theft to perpetrate other serious crimes.
The nation has been captivated by hurricanes and earthquakes these last few weeks, as they have wreaked havoc in communities across the continent. The disasters have ignited conversations about how people should prepare for such horrific events. While many people are quick to think of necessities such as generators, food, water and first aid kits, cash isn’t typically part of the plan. However, when natural disasters strike, electricity is likely to go out, so having a plan for how to pay for things post event is critical.
Rugged individualism is deeply rooted in the United States. Americans generally do not like being told what to do or how to think, and based on the results of the 2017 Health of Cash Study, they will push back against any challenge to their freedom of choice when they pay.
It’s happened to all of us. You go into a store and go to pay with your credit card, but just as you reach into your pocket, you notice the “Cash Only” sign by the register. While it may irk you at the time—especially if you don’t have cash on hand—there’s several good reasons behind these not-so-subtle requests from store owners. Credit card transaction fees, and tight profit margins.
You’ve probably heard of the cash envelope system; it’s nothing new. But unless you’ve put this budgeting strategy to use in your own household, you may not know the details of exactly how it works and how it can help you gain control of your finances. Read on for a step-by-step guide on how the cash envelope process works.
The basics of the envelope system
The cash envelope system is not just one envelope stuffed with cash. Rather, your budget gets broken down into various categories. Each category has corresponding envelope. Inside, each envelope holds the allotted amount of cash for a specific category.
If you’re like nearly half 50% of all Americans, you experience stress related to money—not having enough; spending more than you make; struggling to manage expenses, feeling like you just can’t get ahead. No doubt about it, financial-related stress keeps a lot of us up at night.
There are countless strategies to mitigate money stress, but the simplest of all may be adopting a cash lifestyle. This means you pay for everything you possibly can in cash. Cash works because it forces you to plan and get in control; you’re limited in purchasing power to just what’s in your wallet.
A cash lifestyle forces you to evaluate what you truly need. And, with practice and discipline, you can sleep better at night knowing where every dollar is going, reducing stress and anxiety.
ROCKVILLE, Md. — Even in the digital age of virtual wallets, ecommerce, mobile payments and online banking, cash is still king, a new report from market research firm Packaged Facts found.
According to U.S. Consumer Payments Outlook Through 2020, 79 percent of consumers made monthly cash payments despite the wide range of plastic and virtual alternatives in 2016.
As consumers encounter a growing array of ways to pay – from cash and cards to mobile wallets and person-to-person (P2P) apps – a ‘new norm’ is emerging as consumers embrace a blended mix of payment options in today’s fragmented payments landscape.
London, United Kingdom & Sioux Falls, SD, USA - In the aftermath of Visa Inc’s contentious current “cashless campaign”, ATMIA has published a position paper entitled “Cash is good for society”. In the new paper, the not-for-profit global trade association looks beyond the war of words waged against cash to the real, underlying role of cash in today’s society.
A movement is slowly making its way across America, creeping into businesses and banks, and creating a domino-effect on consumers and savers. It’s a growing campaign to stop spenders from using good old-fashioned cash. But what could result in big gains for credit card companies and banks has the potential to translate into massive buyer inconvenience, loss of freedom and personal expense.
People want to use cash. People want to make purchases in the way that suits them—not in the way that’s best for the credit card companies bottom lines.
So, what gives? Here’s a snapshot of what’s been happening, and why it just doesn’t make sense.
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