With the development of technology and the popularity of digital payment methods, we are rapidly moving into a society where almost cashless transactions can be made. However, despite the convenience that electronic payments have brought to our daily lives, this does not mean that traditional cash has become obsolete. In fact, there are several good reasons why we should keep a certain amount of cash at home.
First of all, using cash is an effective way to maintain personal privacy. Whenever we transact electronically, we leave a digital footprint. This information can be collected and exploited by banks, merchants, and even hackers. Comparatively speaking, cash payments do not leave such traces, protecting the privacy rights of consumers.
Secondly, in some cases, there are also benefits available with cash. For example, in some small stores or marketplaces, merchants may offer cash discounts to avoid processing credit card fees. In addition, in traditional Xi such as giving money during the Spring Festival or giving red envelopes at weddings, cash as a direct and symbolic gift shows its unique value.
Emergencies are also a big reason to hold cash. In the event of a power outage or network failure, the electronic payment system may be temporarily disabled. In such cases, having cash can be key to ensuring that you can buy necessities and respond to unexpected situations.
Another consideration is to control personal consumption. Psychological studies have shown that people tend to be more cautious and rational when paying with cash compared to swiping a card. Therefore, when it comes to budget management, using cash can help people avoid unnecessary spending and debt accumulation.
Although individual circumstances are different, there is no specific standard answer to how much cash should be held for each individual. However, no matter who you are, you should consider a reasonable amount of immediately available funds in your financial planning.
Finally, when considering the various scenarios that may arise in the future, it is undoubtedly wise to keep a portion of your reserves in the form of cash. Not only does it give you the convenience and security you need when you need it, but you also have the flexibility to respond to unforeseen emergencies.
In summary, as digital payments become more and more mainstream, it is still important to have the right amount of cash. It not only provides privacy protection, additional benefits, emergency backup and consumption control, but also plays an irreplaceable role in cultural traditions and personal financial management. So while enjoying the convenience of technology, don't forget to give your old friend a place in your home full of smart devices – hard currency – a place!