It’s been calculated that the aggregate expense to all households in the United States for accessing and using their Cash is $31 billion a year. This astounding number includes the 5.6 hours each year, on average, that people waste simply driving to the location where they get their cash and also $6 billion in foreign ATM fees. Throw in another $5 billion in period account fees and don’t forget the 500 million that’s stolen every year either and you can see that using cash is actually rather expensive.
The old saying “Cash is King” might still hold but, for what most people are paying just to use it, it might be time to change it.… Read the rest