5 Disadvantages Of Handling Cash

By Kishore Sabareeshan | November 12, 2019

Still using cash for all your daily payments? Here are 5 banes of handling cash that you may be taking for granted.

5 Disadvantages Of Handling Cash

Like dealing your money old school? Well, unlike most music, old school isn’t necessarily a good thing when it comes to money. With the digital world throwing up unlimited possibilities and more secure payment avenues, it only makes sense to dance with the change and embrace modern ways of handling money that are leaps and bounds ahead of hard cash.

Below are 5 reasons that will immediately get you thinking about minimising your interaction with hard currency notes:

Currency Notes Are Carriers Of Pathogens

The thing with hard cash is that you really can’t know how many hands have touched it. This is why currency notes become easy carriers of some types of organisms that may be capable of infecting people. Some research in the past has shown that notes and coins often carry pathogens such as Escherichia coli, a bacteria capable of causing illnesses.

Cash Can Tempt You To Spend More

When you have currency notes lying about the house, it’s hard to resist using them. Even carrying Rs. 500 notes in your wallet can easily tempt you to make impulse purchases purely because of how immediate your purchase can be. While it is good to have some cash handy for emergencies, depending on cash entirely can make you spend more money than you actually want to.

Additional Reading: Money Management 101

Cash Can Be Damaged By External Forces

Hard cash’s physical presence is its own limitation in unfavourable conditions. For instance, let’s say you’re out on a walk and it starts to rain – you’re not prepared for it. You come home drenched and find out your wallet’s all wet and your cash is soaked too. Another physical threat to currency notes is wear and tear. Each of us has seen a beaten-up Rs. 10 note at least once in our life, right? And, no, the tape’s fooling no one!

Additional Reading: 10 Apps That Help You Manage Money

Stealing Hard Cash Is Easy

Ok. Let’s say your wallet has been stolen (we hope not, though). If you’re someone who carries a lot of cash in it, you may never get it back. Sure, your wallet may contain your Credit Card or Debit Card; but, at least, these can be blocked.

Additional Reading: How To Use Digital Wallets Effectively For Online Transactions

You’re Sorely Missing Out On The Freebies

Shopping by cash is very old-school, and not in a cool way. Not only is it a cumbersome task to calculate the amount and wait for change from the cashier, cash payments are also one-dimensional in that they don’t give you any reward for shopping.

On the other hand, shopping with a Credit Card can spoil you silly with reward points, discounts and more. Whether you’re fueling up your car or buying movie tickets, Credit Cards shower you with freebies and cashbacks that will make you save a little every time you spend. Moreover, all it takes is a swipe and you’re done – no waiting around for change and all that jazz.

Ready to get groovy with a Cashback Credit Card?

All information including news articles and blogs published on this website are strictly for general information purpose only. BankBazaar does not provide any warranty about the authenticity and accuracy of such information. BankBazaar will not be held responsible for any loss and/or damage that arises or is incurred by use of such information. Rates and offers as may be applicable at the time of applying for a product may vary from that mentioned above. Please visit www.bankbazaar.com for the latest rates/offers.

Leave a Reply

Your email address will not be published. Required fields are marked *