Kunpeng Project
The Importance of Spare Cash for Households Four reasons and tips for keeping it safe
Nowadays, more and more young people say that they have not seen cash in a long time. Most people prefer to pay with mobile payment tools or credit cards when they go out, and rarely use cash. Only older people who are not used to using smartphones will choose to pay in cash.
However, some experts warn that people who don't keep cash at home may want to consider having tens of thousands of dollars in cash on hand for four reasons. In fact, in many cases, cash still has a unique role that cannot be completely replaced by mobile payment instruments.
i.Protect your privacy.
Although mobile payment has brought us great convenience, there are also some potential risks. When we use mobile payment, our transaction information may be recorded, including the sender, recipient, payment amount and payment time, etc. This information may be collected and analyzed, and even disclosed by certain software, posing a threat to our privacy. This information may be collected, analysed or even disclosed by certain software that poses a threat to our personal privacy.
Although the Cybersecurity Law of the People's Republic of China imposes strict regulations and sanctions on network security, there are still some computer programs that have various problems, such as malicious deductions, obtaining privacy permissions without the user's consent, and seriously disrupting the normal use of mobile phones. These programs can steal our personal information and cause harm to us.
Therefore, keeping tens of thousands of yuan in cash at home can prevent the use of mobile payment to a certain extent, thus effectively protecting our personal privacy.
ii.Respond to emergencies.
Money plays a fundamental role in responding to emergencies. While we may have fully planned and anticipated, there will always be unexpected events that catch us off guard.
For example, sudden natural disasters (e.g., **, floods, etc.) can cause power and network disruptions, making electronic payment systems unable to function properly; Or people may have a sudden emergency and need to make a large payment immediately.
In this case, the liquidity and immediacy of cash is unmatched by other means of payment. It ensures that we have enough cash to respond quickly in the event of an emergency.
3. Reasonable consumption and reasonable disposal.
Nowadays, many people find that as soon as their wages arrive, they are quickly consumed by mobile payments, which can help but make people a little anxious. In the era of mobile payment, it is difficult to effectively control the desire to consume. However, if you have some cash at home, you can change that. As long as you have the right amount of money for daily consumption, you may be able to control your spending more effectively. For example, if you've spent too much money in the past few days and feel the need to save some, then you can reduce your expenses accordingly over the next few days. In this way, at least the balance of payments will be balanced, and the dilemma of over-reliance on loans and consumption will be solved.
iv.Respond to mobile** failures.
Mobile payments have become an integral part of our daily lives. From QR code scanning to mobile banking, mobile phones cover almost all of our payment methods. However, phones are not infallible and may experience some glitches like battery drain, signal issues, or malfunctions.
When you're checking out at a store or using your phone to order food, and suddenly find that your phone isn't working, it can be very embarrassing. Therefore, a reserve fund is a wise choice. It's a backup payment method that ensures you don't get stuck with a broken phone.
Imagine you're standing in line at a busy restaurant to order food, and when it's your turn, your phone suddenly goes dead. People around you are waiting for you, and the staff at the restaurant are waiting for you to order. If you don't have any extra money, you'll have to walk away in shame, find an ATM to withdraw money, and line up again to order. This awkward situation is enough to make you realize the importance of the reserve.
In addition, spare cash can also be very useful in some special situations. While traveling, there may be times when you come across small merchants that only accept cash payments, or in some countries, credit cards may not be widely accepted. In this case, spare cash can help you avoid unnecessary trouble.
How to keep your money safe.
In addition to understanding the importance of money, we also need to learn how to store it safely. First and foremost, put your money in the right place! Don't hide your money in conspicuous places like under your bed or drawers, as these are prime targets for thieves. Second, choose the right form! Try to choose a safe and secure storage method, such as a bank vault, to ensure that your money cannot be easily stolen. Again, be cautious! Try not to show your money in public with great fanfare to avoid attracting unwanted attention. Finally, disperse the storage! Store your money in different places to avoid excessive material damage if you lose it. Remember, money safety comes first, and care is the only way to keep our property safe.