Dave Ramsey says: Businesses that don’t take cash miss out on sales

Dear Dave,

What is your opinion of businesses that no longer accept cash?

— Heath

Dear Heath,

Honestly, I think the whole scenario is kind of silly.

Businesses that are suddenly into the “no cash” thing lose out on a lot of transactions. Believe it or not, there are still tons of people out there who make purchases only with cash.

So, from a business owner’s perspective this philosophy can cut into your market share.

I really don’t spend a lot of time thinking or worrying about the situation, though. When it comes right down to it, most businesses are doing that kind of thing for one or two reasons.

Some of them just think it’s old school, and they want to give the impression they’re cutting edge and into technology. Others do it — depending upon the space they’re in — because their sales using plastic are higher than with paper money.

I’m a cash guy.

There are some situations where I might walk away if someone wouldn’t accept hard, cold cash, but in most cases I don’t think anything about it.

I’ll just use my debit card, and buy what I need.

—Dave

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