11/18/2025
Definitely something to think about.... I personally use my card for gas & groceries- anything else- shopping in town or restaurants is cash! Cash is king and goes so much further for a small business â„ïž
*SOMETHING TO THINK ABOUT AS WE HEAD INTO THE HOLIDAY SEASON*
Why should we pay cash, especially at small businesses, instead of a credit card? đł
- I have a $50 banknote in my pocket.
Going to a restaurant and paying for dinner with it. The restaurant owner then uses the bill to pay for the laundry. The laundry owner then uses the bill to pay the barber. The barber will then use the bill for shopping.
After an unlimited number of payments, it will still remain a $50 banknote, which has fulfilled its purpose to everyone who used it for payment...
- But if I come to a restaurant and pay digitally - Card, and bank fees for my payment transaction charged to the seller are 3%, so around $1.50 and so will the fee $1.50 for each further payment transaction by owner for laundry or payments of the owner of the laundry shop, or payments of the barber etc.....
Therefore, after 30 transactions, the initial $50 will remain only $5 đ« and the remaining $45 became the property of the bank đŠ thanks to all digital transactions and fees.
Small businesses need your help and this is one way to help ourselves too. Pull small draws of cash out at a time and use that instead of tap, credit, etc.
When this is put into perspective, imagine what each retailer is paying on a monthly basis in fees at 3% per transaction through their POS machine.
If they have, for example, $50,000 in sales & 90% are by Card, they are paying $1500 in fees in ONE Month. $18,000 in a year! That comes out of their income every month.
That would go a long way to helping that small business provide for its family or even invest back into the business!đŠâ„ïž"