For my Gen X/upper millennials this was the big statement for years.
Cash is still king especially for small businesses. However the value of the dollar is less than ever nationally and it isn’t safe to carry obscene amounts of cash.
I was challenged a week ago about cash versus cashless methods (PayPal, CashApp, Square, Zelle, etc). I’m a July Cancer, am competitive, have an MBA and work in operational leadership. So yeah that hit home for ole Drew.
Ok first of all let people be regarding how they spend and allocate funds. Why is it anyone’s business as long as they’re not asking others for handouts?
2nd please do your research. Over the years, the value of the dollar has gone way down. Dr. Charles Avis at the WU said that when you spend cash versus credit/debit you actually spend more. Nearly everyone takes cash and most don’t budget the cash they have.
Now we will go into swiping/scanning/tapping. If you say it’s unsafe and your monies could get gone easier, allow me to enlighten you. These methods are actually more secure and airtight than keeping hundreds of dollars in cash on you. If there is fraud you are notified immediately. Try losing cash; it’s gone. You can cancel a card or disable a method of payment. You can’t do that with cash.
Furthermore there are exceptions for cash like on vacation, a cruise ship or even a disaster like a hurricane, flood, etc where you cannot easily use a remote method of payment. However what are the chances of you being in a disaster versus you losing hundreds of dollars in cash? I’m not saying you shouldn’t keep a discretationary fund. One should be open to all methods of payment. We will be in 2026 soon and the world basically runs off of these methods (exceptions aside of course.)
I will close by saying manage your funds efficiently in all areas of your life. You must have a balance in your financial life, track your account regularly regardless how much money you have on you and be responsible. That’s it.
Can we simply have these conversations, be civil and if we disagree, come with concrete facts? You better believe I’m coming with mine with a progressive mindset as well.
#imjustdrew
imjustdrew 