Credit Vs Credit Card Essay

868 Words 4 Pages
Cash vs. Credit
Credit cards are cards given by the banks that are used for buying goods and services, and also offering credit services. Credit cards are being used as an alternative to cash, something that has come up as a result of technological changes. On the other hand, cash is the use of liquid money for shopping or buying of product. This is usually the money at hand that is used for shopping. People have different opinions about both, and different people have different preferences when it comes to money and cash. Although both of them have the same uses, they also have their similarities and differences. Both using cash and cards have their similarities regarding making payments, but they have their differences especially in their
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Using money give one chance to control their spending because you cannot spend more than you have at hand. Cash helps people avoid misuse and expenditure on unbudgeted items. Unlike money, those who use credit cards at times they overspent not having in mind that later they will be required to repay the money. When buying for goods and services using credit cards people do not give much attention to their spending since they can’t see the money disappear from their hands. However, the amount used is later paid for from their bank accounts, and overspending can lead to debts.
Unlike cash credit card are more convenient to use in that one does not need to walk around with a lot of money in their pockets (Young, 2017). Cash requires one to have the entire amount they need for shopping in their pocket unlike for credit cards whereby what one needs is to have the card only. It is also convenient in that people do not need to go to the banks to withdraw the money they need to use, and this saves
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One may be attracted to some product at a store somewhere and end up purchasing it only because they have some money in their pocket. This is similar to cards where people spend a lot without noticing because they can't see the money they are using. However, they can also control their spending through obtaining bank statements to monitor how they use their money. This is the same case with cash users who notice when they are spending more than planned since they can see how much they use.
Cash and credit have their benefits and disadvantages. However, most of the people, as well as shopping stores, are changing to use of cards because they are seen as more beneficial and convenient as compared to cash. Due to the changing technology people may stop using money in the future as it’s being used now. This may take longer time, but the use of cash will reduce as compared to recent times. However, the use of money or credit should be left to the people to decide on what best they feel comfortable

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