Credit Cards vs Cash Essay

Credit cards are not an easy way to spend money, not to disappear from your wallet. People can not only put money into their wallet but also put money in bank accounts, but also manage money well. Because the credit card owner can see the movement of money for each purchase. Most people tend to use cash when not using a lot of money on their wallets, but credit card holders who have a lot of money usually use credit cards. The effect of credit card and cash is almost the same, but there are obvious similarities and differences. Both cash and credit cards are used to pay for employees and people can manage their own money.

Today, technology evolves, some companies are using plastic money to pay wages of employees, but other companies use traditional methods to pay salaries in cash I will. For example, insurance companies typically pass debit cards to pay employees monthly salaries, but small businesses use traditional methods to pay employees. However, it is easier to pay with a debit card, because workers can raise salary when needed, you can go to ATM for prepayment. Another similarity is that some credit card owners usually forget their own expenses and those who use cash do the same. For example, people usually go to ATM and if people use cash, they will declare a statement that they can control their money when they realize that they use a lot of money and their money disappears obtain.

Both have almost the same role and there are some similarities, but there are some differences between plastic currency and cash.

Cash and credit cards vary, depending on the circumstances, such as convenient methods and people wanting to purchase online. Plastic money provides a convenient alternative for people to get a huge amount of money where they are not allowed to pay in cash. For example, when people travel, they are not allowed to travel over $ 10,000, but travelers can go to other countries with a lot of money using their credit card. On the other hand, if the customer decides to spend a lot of money, taking the cash can not make the individual easier. If they have cash, people may lose their money, but if an individual has credit card money, people lose it. They just call the customer service department and block the card. The second difference is that if people want to purchase something online, they must have an account and the customer must provide information on how to pay. If people do not have plastic money, customers can not purchase it online. In short, credit cards and cash are used for everything. Credit cards can be used almost anywhere. People use cash when they do not use a lot of money as they may lose it. Using credit cards is a way to carry a lot of money, as people can lose plastic money and deposit it in a bank account. Cash and credit cards are a way to spend money, but most people do not use it in the right way.

Here are some very important elements. First, let's see cash payments and changes in worldwide legal transactions for non-cash payments such as credit cards, debit cards, digital currencies. Horiemon, a famous Japanese television circle celebrity / starter / prisoner, muttered that if you were to pay the money with cash rather than digital money, you had to be a complete idiot. Well, compared to other developed countries, we see that the ratio of cash payment to payment other than cash in Japan is quite low. Only North America accounts for about 60% of debit cards, credit cards and other payments, while only about 20% of Japanese transactions are non-cash (electronic) transactions. In Southeast Asia, Africa and Latin America, more than 90% of payments are still paid in cash. Worldwide, 85% of worldwide payments are still in cash and statutory bidding

Cash use in 2015 was $ 35 trillion, but remittance by check, credit card / debit card, and ACH was $ 178 trillion. Below is a breakdown of non-cash payments in 2015. Naturally, credit cards and debit cards are used for the maximum number of transactions (103.3 billion), representing the lowest value ($ 5.72 trillion). So, to begin discussing the cost of money we see credit card payments, how they work, and the costs associated with them.