Paying with cash

From: Financial Consumer Agency of Canada

Using cash is one way to pay for goods and services. Most merchants accept cash as a form of payment. Some merchants don’t accept debit or credit cards.

You may prefer paying for something with cash because you don’t have to provide your financial information, such as your debit or credit card number. However, if your cash is lost or stolen, you probably won’t be able to get it back.

Advantages of using cash

There are some advantages to using cash, such as:

  • you only spend what you have
  • you don’t pay interest
  • you may get a discount since merchants don’t have to pay a fee to accept cash transactions
  • you don’t have to pay a fee

Tips when using cash

Here are some things to consider when using cash:

  • keep track of your spending so you know what you’re spending your money on
  • keep your receipts, especially for returns, proof of purchase and warranty claims
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