Essay on Cash Vs. Credit : Pros And Cons

Essay on Cash Vs. Credit : Pros And Cons

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Cash Vs. Credit the Pros and the Cons
While both cash and credit are two acceptable forms of payment, they vary in many ways. Which one best suit your needs?
With the disadvantages comes the advantages, sure using cash can sometimes be dangerous among other things, but there are some safety advantages that come associated with using cash as well. When choosing to use cash instead of credit you won 't have to necessarily worry about your credit card being encrypted at checkout. Although people have become more financially safer with how they use their card and the risk of data breaches have lowered in the last couple of years. Just three years ago the “Data breaches totaled 1,540 World wide were a little over 10% of that 1,540 breaches were in the retail sector” (Holmes1). And with the growing rate of fashion and the standard of looking good and fitting into society I would say the outcome of your card being stolen or even encrypted at checkout is still there. If you 're worried about your card being encrypted next time you 're at checkout just use cash not only will you avoid encryption you will also be able to see how much you 're actually spending.
Although it 's probably more convenient to use a credit card than it is to use cash. Cash still can be convenient yes you have to count the change while you wait in line, but you don 't have to worry about whether your going to have the money to pay off your bills because you 're not borrowing the money because you 're using cash you are using money of your own instead that of your credit card company. Not only are you not having to worry about whether you’re going to have the money later to pay for what you 're purchasing, but using cash allows you to open your eyes and real...

... middle of paper ... interest in most cases to the company you borrowed the money from so that company can see that you are responsibly paying them back . This can take anywhere from six months to two years before you see a difference it all depends on how much you’re borrowing and at what interest rate and from where you 're borrowing the money from.
Although Cash and Credit are both two acceptable forms of payment ultimately which one you decide to use is up to and what you are looking for. Are you trying to build your credit? Or are you just needing to get by. Are you prepared for fees and the possibility of going into debt? Do you know what to do if your card is encrypted at checkout? These are question to take in consideration when making this decision, but ultimately the decision is up to you and what you believe best suits your needs as an individual in today 's society.

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