The Value of Cash: Why We Can't Fully Abandon Cash Payments?

The Value of Cash: Why We Can't Fully Abandon Cash Payments?From ancient times to the present, human interaction has been an indispensable aspect of social life. Whether it is weddings, funerals, graduations, housewarming parties, or visiting sick relatives and friends, cash has always played an irreplaceable role

The Value of Cash: Why We Can't Fully Abandon Cash Payments?

In today's world where mobile payment is sweeping the globe, we seem to have grown accustomed to using our phones for all our spending, from street vendors to high-end restaurants. Cash, once the dominant force in our lives, seems to be gradually fading into history. But is this truly the case? While mobile payments have ushered in unprecedented convenience, cash still plays an irreplaceable role. It acts as a "safety valve" in our lives, capable of taking on unique significance in crucial moments.

I. Human Interaction: Cash Conveys Warmth, Unreplaceable Ritual

From ancient times to the present, human interaction has been an indispensable aspect of social life. Whether it is weddings, funerals, graduations, housewarming parties, or visiting sick relatives and friends, cash has always played an irreplaceable role. Red envelopes, as a vital carrier of human interaction in Chinese culture, embody blessings and heartfelt wishes, and cash is undoubtedly the soul of these red envelopes.

In traditional wedding ceremonies and funerals, gifting red envelopes is the best way to express blessings. Friends and relatives put stacks of cash into bright red envelopes, and this sense of weight and ritual is something that mobile payments cannot replicate. Imagine attending a friend's wedding and pulling out your phone to scan a code for payment, wouldn't it feel somewhat lacking in formality? But handing a red envelope to the recipient not only demonstrates your sincerity but also enhances the festive atmosphere.

Beyond red envelopes, cash also feels more sincere and heartwarming when visiting sick relatives or friends. Placing a stack of cash in their hand is not just material assistance but also conveys care and concern. In contrast, while mobile transfers are convenient and fast, they lack this direct form of expression, making them feel less personal.

II. Handling Unexpected Situations: Cash is a Safeguard Against Unforeseen Risks

We live in an era full of uncertainty, facing unforeseen events at any time. Our phones, as indispensable tools for modern people, not only handle communication but also carry the weight of mobile payments. If a phone malfunctions, such as running out of battery, losing signal, or even getting damaged, our lives can be greatly impacted.

Imagine being stranded in a foreign city, your phone dead, and needing to pay for a taxi or buy food. You would be helpless, but the hundreds or thousands of cash in your wallet would allow you to easily handle this unexpected situation.

More importantly, in areas with poor network coverage, mobile payments cannot function properly, making cash our guarantee for spending. For example, if you are traveling to remote areas where cell phone signals are unstable and mobile payments are impossible, cash becomes your "lifeline" to successfully complete your journey.

III. Bank Card Limits: Cash Breaks Barriers, Meets Large Spending Needs

As living standards rise, people's pursuit of material goods grows. Many have the capacity to purchase high-end items or make large purchases, but bank card limits become "stumbling blocks" that restrict their consumption.

Most banks, to prevent financial crimes, place limits on daily transaction amounts for cardholders, usually between a few thousand to tens of thousands of dollars. For those who frequently make large purchases, bank card limits are undoubtedly a constraint.

For example, if you have your eye on a car worth ten thousand dollars but your daily bank card limit is only five thousand dollars, you would have to make an appointment with the bank a week in advance to withdraw cash to complete the purchase. But if you keep cash at home, you can pay directly at any time, avoiding the hassle of appointments.

Additionally, business owners often need to conduct large-scale financial transactions. Banks may misinterpret their account activity, even freezing their accounts, affecting normal cash flow. Cash transactions can mitigate this risk, ensuring secure financial flow.

IV. Controlling Spending: Cash Provides Tangible Perception, Avoiding Overspending

The convenience of mobile payment is certainly a welcome development, but it also harbors potential consumer traps. Without seeing the actual loss of real money, we often struggle to control our spending impulses and unknowingly overspend future income.

When we use cash payments, the amount of money in our wallets decreases, providing a tangible reminder of how much we have spent and how much we can still spend. This direct perception allows us to more rationally control spending, avoid excessive spending, and ensure sufficient living expenses.

Mobile payments, however, can create an illusion, making us think that money is just a number and not worth worrying about. This is especially true when using "buy now, pay later" and "installment payment" services, where immediate payment amounts are often small, even zero, further exacerbating impulsive consumption.

When we become addicted to the thrill of "shopping sprees", but disregard the pressure of repayment, we end up facing a huge financial burden on the repayment date and regret our actions. Cash payment effectively prevents this overspending trap, allowing us to plan our spending more rationally and control our financial situation.

Conclusion: Cash and Mobile Payment Go Hand in Hand, Building a Better Life

Cash and mobile payments are like two forces in life, each with strengths and weaknesses, complementing each other, and together building our rich and colorful lives. The convenience of mobile payment is undeniable, but cash still holds irreplaceable value. It can secure our spending needs in emergencies, help us control spending, and even convey warmth and human connection.

In the future, whether it is cash or mobile payment, both will play vital roles in people's lives. We should make rational use of these two payment methods, enjoying the convenience brought by mobile payments while preserving the unique advantages of cash. By achieving a "win-win" situation, we can better control our finances and lead a more fulfilling and happy life.

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