• Learning for LifeandWork

Paying with cash: The advantages and disadvantages

Updated: Jun 6, 2020

The advantages of buying things with cash

  • Buying with cash can make budgeting easier as you know how much you have to spend and you cannot spend any more if you have no more money.

  • Buying with cash means there is less likelihood of being affected by identity fraud as your details are not being passed on with the transaction - only cash.

  • Buying with cash can lead to less spending as you are more conscious of your spending and how much things cost to buy.

The disadvantages of buying with cash

  • People are using cash less often so when they do want to buy something with cash they need to spend time looking for an ATM to get the cash.

  • If the money/cash was in your wallet/purse and you lost this or it was stolen, any money in your wallet/purse may never be returned.

  • Carrying a large amount of money can make you a target for criminals who may try and take the money off you/steal it.



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