In 2013, research firm McKinsey found a strong correlation between
high cash usage and the size of a country's shadow economy.
Admittedly,
high cash usage often comes with a cost.
Not exact matches
So when administrators announced last month that the cafeteria would stop accepting
cash and required the use of a school - issued debit card that charges a 10 percent
usage fee, hundreds of students staged a lunch boycott at both Minooka
high school campuses.
FINRA found that of five negative behaviors involving credit card
usage, including carrying a balance, paying only the minimum fee, incurring late fees, being charged over the limit fees and using
cash advances, women scored
higher than men in all metrics except
cash advances, where men scored slightly
higher than women.
Usage The «Credit card instead of
cash» strategy is great to use as well, only if; a.) Your credit limit is already
high so you won't be in danger of extending yourself over 30 % -50 % utilization rate by trying to pay everything with your credit card then playing catch up by paying all back in
cash.
A retailer fed up with
high credit card processing fees, for example, might offer discounts such as one percent for debit card
usage or two percent for
cash.