With the rapid development of science and technology, the mainland has entered the era of mobile payment, which not only changes people's payment habits, but also profoundly affects the economic structure and lifestyle of society. According to authoritative data, China's mobile payment penetration rate is as high as 90.2%, which far exceeds the global average of 43.8%, becoming the global leader in the field of mobile payment. Nowadays, except for some elderly people who insist on using cash to pay, most people almost no longer use cash in their daily life. In the face of this trend, some experts even boldly predict that in the near future, mobile payment will completely replace cash payment, and cash payment will gradually fade out of the lives of ordinary people.
However, in this context, some people in the industry have recently put forward a striking proposal. They advocated that from April, each household should have at least $60,000 in cash reserves. This makes one wonder why families need to prepare large cash reserves in such a modern society that has almost become accustomed to the use of mobile payments. What are the practical reasons behind this?
01 Respond to unforeseen needs
In many cases, cash payments still play an important role. Especially in the event of an unexpected situation such as a natural disaster, the importance of cash is even more prominent. Imagine when natural disasters such as floods, earthquakes, and typhoons often affect electricity and communications, and cash becomes a stand-alone payment method that doesn't rely on electronic devices.
In the aftermath of natural disasters, the usefulness of cash is particularly prominent. For example, after the flood waters reced, you may need to go to a nearby store to buy some necessities. At this time, if you carry a large amount of cash with you, you can immediately meet your shopping needs without worrying about the lack of supplies. In the same way, when someone in the family has a sudden illness and needs urgent medical treatment, if you have sufficient cash reserves nearby, you can pay the medical expenses immediately to ensure that the patient can receive timely treatment. There are many examples of this in real life, which is one of the reasons why experts recommend that families should have plenty of cash.
In addition, cash can bring us many conveniences in our daily lives. For example, when dealing with small transactions or personal transactions, it is often easier and faster to use cash. And cash, as a physical form of money, does have a special sense of trust, it is not affected by the Internet and electronic devices, and can be used as a medium of transaction no matter where you are.
02 Protect personal privacy
With the rapid development of science and technology and the continuous progress of society, mobile payment has become an indispensable part of modern people's daily life. Whether it's online shopping or offline purchases, you can easily complete the payment through your mobile phone or smart device. This payment method has really brought great convenience to our lives. However, at the same time, we must also admit that with every payment operation of consumers, personal consumption data, habits and privacy are constantly obtained and recorded by third-party payment platforms.
In the information age, the leakage of personal privacy has become a problem that cannot be ignored. Personal information collected through mobile payment platforms may not only be used for commercial marketing purposes, but may even be used for other undesirable purposes. Therefore, many families choose to save a certain amount of cash as one of the payment methods, precisely to protect the privacy of family members from the outside world. When using cash for settlement and payment, we do not need to worry about personal information being recorded and used by third-party platforms. This payment method is not only more secure and reliable, but also more protective of our personal privacy.
Of course, there's more to saving cash than just to protect your privacy and emergencies. It is also an important part of a family's financial planning. When creating a family financial plan, we should decide how much cash to save and how to use it based on our actual situation and needs. At the same time, it is also necessary to maintain reasonable liquidity management to deal with possible risks and challenges.
03 Cash is needed for personal relationships
In today's society, cash still plays an important role in interpersonal interactions. For example, at the wedding of a loved one or friend, if you only send a red envelope through WeChat, the person receiving the red envelope may quickly forget about the action. However, if you hold cash in your hand, wrap a big red envelope, and deliver it to the newlyweds in person, this is not only a financial support, but also a sign of your importance and blessings to the newlyweds. Such a move can often make the newcomer feel your sincerity and heart, so as to leave a deep impression.
Similarly, it is also a traditional etiquette to give cash red envelopes during festivals and when visiting relatives and friends. Through cash red envelopes, you can express your greetings and blessings, so that the recipient of the gift can feel your heart. And if you send red envelopes through WeChat, although it is convenient and fast, it cannot convey that kind of face-to-face blessing and care.
In addition, cash is also particularly important when dealing with some daily interpersonal interactions. For example, giving cash red envelopes to elders or children in the family, or providing cash help to neighbors and friends. In these cases, cash is not only an economic means of communication, but also a transmission of emotions. In fact, having a certain amount of cash reserves can also provide a sense of psychological security for families. In times of economic uncertainty, people tend to worry about the future. Having cash at home can provide sufficient financial buffer and coping ability in the face of emergencies or unexpected events.
04 Control consumer spending
In modern society, with the rapid development of technology, mobile payment has been widely used in Chinese mainland, penetrating into every corner of our daily life. This advanced payment method has undoubtedly brought a lot of convenience to our lives, but it also brings some consumer challenges. The convenience of mobile payment often makes people lack sufficient awareness and attention when shopping, so that many people find that their wages have been depleted in just half a month.
Against this backdrop, it is particularly important to reserve a portion of cash. Having cash at home can help people think more carefully when spending. Whenever we need to make a payment, we can use the corresponding amount of cash instead of completing the payment through our mobile phone, which will give us a more intuitive sense of spending. For example, when we are about to buy an expensive item, the moment we take out the real money from our wallet, we think more carefully about whether we really need the item.
In addition, if we find that we are spending more than we expect in a given month, we can adjust our strategy to reduce unnecessary spending. For example, if we find that we are overspending within a few days of a purchase, we can choose to reduce the purchase of non-essential items in the following days to break even. This not only helps to manage the health of personal finances, but also brings more surpluses to the family.
Overall, despite the benefits of mobile and digital payments, the role of cash cannot be ignored. Experts suggest that families should reserve at least 60,000 yuan in cash, which is a forward-looking and realistic suggestion. By saving cash, we can better respond to emergencies, protect your privacy, and plan your family's finances wisely. Of course, in practice, we need to flexibly adjust and make appropriate arrangements according to our own situation to achieve better results.