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9 Reasons Why You Should Carry $200 Cash at All Times

9 Reasons Why You Should Carry $200 Cash at All Times
"""We always need money to buy what we want and need. As customers, we pay with cash or with more sophisticated credit or debit cards. Cards gained popularity sixty years ago and are now used more frequently than cash. However, if you are in a pinch and cannot use either card, carrying $200 in cash is the next best option for nine reasons.

1. Electric grid outage: This is a nightmare that can destabilize the entire country by causing all electricity to go out. This scenario will disable your credit and debit cards, preventing you from using them at all. Not only is it prudent to carry cash, but purchasing $200 in supplies ahead of time is critical to surviving the ordeal.

2. Frozen debit or credit card accounts: Either type of card can be frozen as a result of fraud. Banks freeze debit cards when there are insufficient funds in an account. Credit cards can be frozen if payments are not made when they are due. If you only have one of these types of cards and are unable to use it, use cash to purchase only what you require.

3. Car Battery: After a couple of years of use, your car battery may fail. When that engine won't start, you could be at home or on the road. If you have a """"Triple A"""" account, contact them and request a service vehicle that carries car batteries. My wife and I went shopping a few months ago, and when we got back to the car, it wouldn't start. She dialed Triple A, and they dispatched a service vehicle. Our vehicle required a new battery. The battery initially cost around $150 in cash. We could have used a credit or debit card, but it would have cost us an extra $15.

4. Towing: If your car breaks down and you don't have Triple A, you must contact a reputable towing service. If the person towing your vehicle owns a towing company, he will request payment in cash. The average 40-mile tow costs $75 to $125, according to the Angieslist website. A tow to another city, on the other hand, could cost $200.

5. Locked out of your car: You return to your car after a long day of shopping or working, and you look for your keys, but they are nowhere to be found. You recall that you don't have a spare key, so you may need to call a mobile locksmith to come to your location and make a new key. The most recent average charge for a locksmith is $150, according to the Homeadviser website.

6. Buying gas with cash: Using the credit/debit card scanner at small markets increases your chances of being ripped off by crooks who install card readers and steal all of your private card information. ""I need $20 on pump number 3 and a receipt, please,"" I always say to the cashier. Of course, you must first determine how many gallons your vehicle requires and multiply that figure by the price of one gallon. I request a receipt in case I need less gas and need to get a refund for the difference. When you go on a trip, you will frequently use cash to pay for gas.

7. Flea markets, pawn shops, and arts and craft fairs: You might enjoy visiting out-of-the-way tiny shops while on vacation or at home. Many of their products are surprisingly inexpensive. So bring some $1, $5, and $10 bills if you want to buy some goodies.

8. Restaurants and snack machines: Many restaurants, especially off-the-beaten-path """"dives,"""" only accept cash. Furthermore, """"drive-through"""" fast food restaurants always accept cash because using credit or debit cards takes more time and is less convenient. Snack machines can be found in a variety of settings, including the workplace, community colleges, and universities. Snack machines are good places to get some nourishment if you work or study at these locations all day. The majority only accept cash.

9. Tipping: Waiters and waitresses always appreciate cash tips (use $1, $5, and possibly $10). When you go on vacation, you'll need about $200 in tip money because you'll be eating at a lot of restaurants.

Credit and debit cards are convenient ways to buy what you need and want. Because you can't always pay with either card, carrying $200 in cash with you when you leave the house can be a lifesaver. Credit and debit cards can be ineffective in emergencies such as national power outages, frozen cards, and roadside assistance. When you go out of town, you will need the same amount of money for gas, flea markets, restaurants, snack areas, and tipping. If you don't have a debit or credit card, or if you forget to bring them with you, remember the old business adage: cash is king."""
 

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"9 Reasons Why You Should Carry $200 Cash at All Times" was written by Mark under the Finance category. It has been read 99 times and generated 0 comments. The article was created on and updated on 13 January 2023.
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