So we wrote out another check the other day and the individual who received it look perplexed and asked how it worked? We told him it’s as good as cash and needs to be deposited at his financial institution. Needless to say they were from a different generation.
Writing out checks seems to be fading into obscurity, with only 3% of us still holding onto this traditional method of payment. As digital payments continue to dominate (67%), would you miss the ritual of writing a check if it disappeared entirely? Or are you ready to fully embrace the convenience of modern finance? I know our debit card only allows us a certain amount of money we can take out at any given time in a 24 hour period . If we need a big ticket item we usually write a check.
I’ve read financial stories about cash being obsolete in 10 years and every transaction will be digital. In a way, this scares me. Considering going strictly cash? Here are some compelling benefits: 1. **Budget Control:** Spending only what you have helps you stick to a budget and avoid debt. 2. **No Fees:** Say goodbye to transaction fees, overdraft fees, and ATM charges. 3. **Anonymity:** Keep your purchases private with no digital trail. . **Impulse Control:** Physical money has a psychological impact, making you think twice before spending. 5. **No Tech Dependence:** No need to worry about card machines, network outages, or cyber threats. Could you commit to a cash-only lifestyle? Feel free to leave your comments.