Good Lifestyle

They say that money is king, but in reality it depends on the situation. Of course, money can be useful for small everyday purchases like Fill your fuel tank , bargain on a flea market, or buy something you don't want a recording (let's say, a surprise gift for a spouse). But according to the financial expert Chris Ratigan , Vice-president of commercial development at Monterey financial services , it is also important to consider the potential drawbacks.

"Although species can offer advantages, such as anonymity and control, it can also be risky and impractical for certain types of transactions," he explains Better life. "Using other payment methods, such as credit cards, you can protect yourself and protect your finances." Continue to read for the five times that you should never use money.

Read this then: Always use money for these 5 purchases, say financial experts .

That you bought a used car Or a new one, never use money to make a deposit or finish the transaction.

"Dealers generally charge low interest rates because they know that the average consumer cannot afford the cost in advance - so even if you could allow yourself to pay in cash, and invest," said Jack Spent , CEO of Dollar in the dollar . "As long as you can earn a higher return by investing that you would not pay interest on the loan, you will be in the lead."

This is actually a good basic rule for any important purchase, explains ratigan, including a house.

"Transporting large amounts of money can make you a flight objective, and it is important to have a transaction file for legal and financial reasons," he explains. "Instead, it is recommended to use a bank transfer, a cashier check or a bank transfer to complete these types of purchases."

According Natalie Warb , financial expert at Coupon birds , any purchase linked by a contract - like insurance, Public service bills , or rent - should be paid with a credit card, debit card or money transfer.

When you pay in cash, the only proof that you have is a printed It's easy to lose. By paying with other digital methods, you make sure that your bank has a file showing that you have made a payment.

"Not only is it easier than ever with most services now allows online payments, but it is also a useful way to keep track of your expenses every month," adds Warb.

Bailey Schramm , finance advisor to Bizreport , also notes that it is particularly crucial to avoid paying money medical invoices . If you do not have a clear file of all your payments, it can be difficult to obtain the reimbursement of the insurance.

Read this then: Never use your credit card for these 6 purchases, according to financial experts .

When the time comes Book this flight , Hotel or car rental for a funny vacation to come, experts insist that you are better used a credit card than money - for several reasons. AE0FCC31AE342FD3A1346EBB1F342FCB

"Many credit cards offer advantages such as flight cancellation insurance, insurance against lost luggage and expense reimbursement if you need to spend the night due to a canceled flight," said press .

For example, let's say that there are problems with your hotel room that forces you to leave or that you are billed for the amenities that you have not used. You can challenge these costs via your credit card company, but this is obviously not an option when you use money.

Without forgetting that if you pay in cash, you can not take advantage of the reward points or money delivery offers that many credit card companies offer travel purchases.

"You also want to leave a trace of your spell in the event of an accident or something out of the ordinary happens while you are traveling," adds Nikolay Iliev , an expert in personal finance and founder of the VAT calculator application .

Whether you buy a new laptop for your home desk or your TV with flat screen for your room, experts agree that it is best to buy electronics with a debit or credit card. These payment methods offer an additional safety layer in case something goes through with the product or shipping.

"Often, your credit card will give you an extended warranty in case the product breaks," explains providing. "Or, if you have ordered the article online and it never happens, you may have to recharge if the store disputes delivery. So pay in cash for electronics is a big mistake. ""

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On the market of a new office chair? Need to put gas in your car for a work -related excursion? Buy a lunch for a customer? According to Iliev, you should never pay in cash for these types of commercial expenditure.

"You want to leave a paper trace of all your commercial expenses, and the simplest and most precise way to do so is to use the business credit card," explains Iliev. "If a credit card is not an option, opt for a check or a bank transfer. Of course, you can compile receipts for your purchases in cash, but have a file of a third party remains the drier itinerary and more precise, especially when an audit is required."

Having a digital file is particularly useful if you are a self -employed worker or if you manage your own business and plan Note one of these purchases At the end of the tax year.

Best Life offers the most up -to -date financial information for high -level experts and latest news and research, but our content is not supposed to replace professional advice. Regarding the money you spend, save or invest, always consult your financial advisor directly.