How Paying with Cash Can Help You Save Money and Burn Calories!

Health & Well-beingFebruary 19, 2020

Paying with cold hard cash seems to be falling out of style in our society today. From 24% in 2015, almost one-third of folks in the U.S., or 29%, now say they’re no longer making purchases with actual paper bills. Despite these findings by the PEW Research Center, keeping money on hand still has its own benefits. Here are three shocking advantages of using cash in your day to day spending:

It may aid in weight loss.

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Kick the bad habit and keep the good ones.

Cornell scientist Dr. Brian Wansink, the author of 2014’s “Slim By Design,” gives a few good tactics to losing weight without going on any diet. You’ll be surprised to know that one of them is paying in cash.

According to Wansink, people who still use cash end up buying fewer drinks and desserts while at work. He adds that workplaces are booby-trap hot spots since they are the kind of places where it’s easier to be tempted by unhealthy foods. By pledging not to swipe that credit card at your office cafeteria or break room, you won’t be gorging down all those empty calories.

It can get you better deals.

Want to hone your negotiation skills? Cold hard cash can help. According to mogul Mark Cuban, who also starred in “Shark Tank,” a pocketful of money can be a compelling tool when it comes to negotiating.

As Cuban shared with Vanity Fair in 2017, he always tells people one thing: If they’re out, for example, taking a yoga class and they’re being charged $30, say that they have $20 on hand. This tactic works because folks will usually take it. This reasoning is why negotiating with paper bills is one of the best ways to get a return on your investment.

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It helps you save more money.

Researchers have discovered that physically handing over your hard-earned money and seeing it vanish is painful. This reason is why making purchases with cash instead of a debit or credit card really does help in accumulating big savings! If parting with your money hurts you, then you’re less inclined to do it.

On the contrary, using a credit or debit card seems less real than paper money since you’re not seeing your physical bills disappear. Now you know why it’s so easy to swipe a card mindlessly and forget you even purchased something.

If you’re on a tight budget, or you just want to save up, ditch the plastic and go on a “cash diet.” All you have to do is withdraw a fixed amount of money for your weekly or monthly budget, and make sure to spend only that amount. Doing this can encourage you to keep your finances on track.