Money is always required to obtain what we require and desire. We pay with old-fashioned cash or more modern credit or debit cards as consumers. Sixty years ago, credit cards were widespread, and they are now used more frequently than cash. However, if you're in a panic and can't use either card, having $200 on hand is the next best option for nine reasons.



1. Electric grid failure: This is a nightmare that has the potential to destabilize the entire country by causing all of the country's electricity to go out. Your credit and debit cards will be disabled in this circumstance, and you will be unable to use them at all. Not only is it advantageous to have cash on hand, but purchasing $200 worth of supplies ahead of time is critical to surviving the ordeal.


2. Frozen debit or credit card accounts: Fraud can cause both types of cards to freeze. Debit cards are frozen by banks when there are insufficient funds in an account. Credit cards might be suspended if payments are not made on time. If you just have one of these types of cards and can't use it, but only what you need with cash.


3. Car Battery: After a few of years of use, your car battery may fail. When your engine won't start, you could be at home or on the road. If you have a "Triple-A" account, contact them and request that a service van carrying car batteries be dispatched. My wife and I went shopping a few months ago, and when we returned to the car, it wouldn't start. She dialed Triple-A, and a service truck was dispatched. Our vehicle required a new battery. The battery was roughly $150 in cash when it arrived. We could have paid with a credit or debit card, but it would have cost us an extra $15.


4. Towing: If your automobile breaks down and you don't have Triple-A, you'll need to call a reputable towing company. If the individual towing your vehicle owns a towing company, he will demand payment in cash. The average 40-mile haul costs $75 to $125, according to the Angieslist website. A tow to another city, on the other hand, may cost $200.


5. Locked out of your car: You return to your car after a long day of shopping or working, and hunt for your keys, but they are nowhere to be found. You realize you don't have a spare key, therefore you'll need to hire a mobile locksmith to come to your location and produce a new one. The current average rate for a locksmith, according to the HomeAdvisor website, is $150.


6. Buying petrol with cash: If you buy gas with a credit/debit card scanner at a small market, you're more likely to be ripped off by fraudsters who set up card readers and take all of your personal information. "I need $20 on pump number 3 and a receipt, please," I always tell the cashier. Of course, you'll need to figure out how many gallons your automobile requires and multiply that by the price of a gallon. If I require less petrol, I ask for a receipt so that I can claim a reimbursement for the difference. When you're on the road, you'll have to pay for gas several times using cash.


7. Flea markets, pawn shops, and arts and craft fairs: You could appreciate exploring out-of-the-way tiny stores while on vacation or at home. Many of their products are shockingly inexpensive. So, if you want to buy something, bring a couple $1, $5, and $10 bills with you.


8. Eateries and vending machines: Many restaurants, especially off-the-beaten-path "dives," only accept cash. Furthermore, "drive-through" fast food businesses always accept cash because using credit or debit cards takes longer and is inconvenient. Snack machines can be found in a variety of places, including the workplace, community institutions, and universities. Snack machines are fantastic places to acquire some food if you work or study at these locations all day. The majority of them only accept cash.


9. Tipping: Cash tips are always appreciated by waiters and waitresses (use $1s, $5s, and possibly $10s). When you travel on vacation, you'll need roughly $200 in tip money because you'll be eating at a lot of places.


Using credit and debit cards to make purchases is a convenient way to get what you want and need. Because you won't always be able to pay with either card, having $200 in cash on hand when you leave the house can be a lifesaver. Credit and debit cards may be of limited value in emergency situations such as national electric grid outages, frozen cards, and roadside assistance. When you go out of town, you'll need the same amount of cash for things like gas, flea markets, restaurants, snack areas, and tipping. If you don't have a debit or credit card, or neglect to bring one, keep in mind the ancient business adage: "Cash is King."