Imagine if you buy a pannier of cherries from a market stall and give a bank card for payment?
Does it seem strange? Definitely, it is. In this situation, importance of cash is realized. Obviously, for a minor amount of money, you don’t want a formal way in your purchase. And it’s difficult for the seller, as the cost of taking bank cards can consume their margin.
There is no need to describe the importance of cash in human life. Cash is an essential commodity and can be used immediately to fulfill our needs. We can’t deny the fact that without cash, we cannot walk out of our homes even if we have bank cards. The latest era has modernized our life by introducing so many options of bank cards, but still, there are many circumstances in which cash is mandatory to be used.
1. When Giving A Tip
Almost every person thinks a service charge which a restaurant usually charges, directly to the working staff. But it’s not always true. Some restaurants keep the tips paid from cards and then distribute it equally in their whole staff members. So, if you want to give a tip to the person you intended for, give a tip in cash.
2. Gift On Wedding
It is not impossible to thrust a check in a wedding envelop or ask the gifted about their bank details. But it definitely doesn’t have the same upshot as a crunch of $20 or even $50 cash note. At a Chinese wedding, it’s traditional to give a red envelope containing cash to couples as a wedding gift. Also in India, it is customary to give cash in odd numbers to the wedding couple as a gift.
3. To Pay Fee For College Or University
When we have to pay for our college or university fee, we have to pay it in cash only. We can’t pay a card in the admission office to pay our fee. Sometimes, we don’t have our savings enough to pay our own fee or our children’s fee because of an exorbitant amount. So many financial institutions offer us different loans and special cash loans. Check them to overcome this issue as it is highly recommended because of the speedy loan grant.
4. To Give Donations
When someone comes to you with a donation box, you can’t donate your card. Even you can’t ask the donation collector or done to wait until you come back by taking out cash from the ATM. So, in this situation cash is needed as we have to pay on the spot.
We all can’t deny the importance of cash in our lives as we live with it. Without cash, we cannot live a single day these days. It’s a famous saying by Ricardo Salinas Pliego “In times of crisis, cash is king.” Everyone is well aware of the importance and value of cash, and in most situations, it is needed only in its own form as described above.