Financial Adviser Says It’s Easier to Save with Cards Than Cash


In continuing coverage on a cashless society:

We spoke with a local financial adviser, who says when you’re strapped for money, it’s actually best to stick to using cards over lose cash.

Adviser Cody Kilgore says most people are more likely to spend extra using the bills in their pocket, versus swiping a card.

He says cash is a great visual to show your kids how to save, because you can hand them ten ones and show them to put aside one or two for savings.

He adds, setting aside allotted envelopes of cash for bills and entertainment can be useful for adults, but ultimately, you just have to have a plan that considers all bank accounts, credit cards and lose cash.

The Edward Jones Financial Adviser adds, “The biggest thing is being disciplined, and I do think cash makes it harder to be disciplined. For example, you’re going out to eat: you have a ten dollar bill and it comes time to tip the waiter or waitress. And the tip is 20 percent, let’s say it’s 8.90, I’m going to give her ten dollars instead of 8.90.”

With cash, Kilgore says people care less about those smaller dollar amounts. Where with a card, every dollar counts toward that ending balance.

He shared that he sticks almost exclusively to plastic, instead of paper money.

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