The Power of Paper Money in a Struggling Economy

Power of money
Photo by Karolina Grabowska on

Do you have cash in pocket, on hand at this moment? Has your monies, turned into a ‘real” digital wallet? Every purchase we make are digital in terms of debit or credit cards. Have you ever balanced a checkbook? The times has changed our view on money management. Each day we let the concept of money slip through our hands, as the paper exchange has faded do to digital currency transactions. The current economy is far from the prosperity we enjoyed only a decade ago. As wages stagnate, prices go up and job security has never been more tenuous, people are desperately trying to keep up with their expenses. However, plastic debit cards have long taken precedence over paper money as the main means of transaction, as a way of seemingly having greater control over our finances.

Yet what happens when our accounts are maxed out? The time-honored tradition of paying in cash may have seemed to lose its value, but paper money can still serve an important purpose in a struggling economy. The old-fashioned paper trail that comes with a cash purchase helps ensure financial stability and gives the user a greater sense of control.

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Here are 5 ways you can help appreciate and recognize the value of paper money.

1. Prioritize and Budget โ€“ Being mindful of how much money you spend is essential in times of hardship, so establishing a budget is key. Give yourself an allowance in cash each month and use it to pay for essentials such as groceries, bills and other unavoidable expenses. By using paper money you will be more aware of what youโ€™re spending, as you can visually track how much you have left to spend each month.

2. Use Cash When Possible โ€“ Despite its convenience, the use of debit or credit cards for small purchases can really add up. Small items can really accumulate and blow a hole in your budget. To avoid being over-indulgent and potentially plunging into debt, opt to use paper money as much as possible.

Paper money
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3. Save It Up โ€“ Collect spare change and use it to accumulate paper money. Keep a jar or a special piggy bank at home, and each time you get change or some paper money, put it in. This can be a great way of encouraging saving and not letting any money slip through the cracks.

4. Shop with Care โ€“ Be conscious of what you buy. Before heading out, do some research to find the best deals or check out second hand stores for potential savings. Being thrifty in how you shop can save you both money and the stress of worrying about being unable to pay for the things you want.

5. Pay It Forward โ€“ Even small amounts of paper money can make a big difference to those who are most in need. A simple act of generosity such as donating spare change or giving to a charity is the ultimate recognition of the importance of paper money. Although cash may seem antiquated, its value and necessity still holds true in a struggling economy.

Digital wallet
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Paper money may have been forgotten in favor of digital spending, but acknowledging its value and appreciating its power is important. To save, as well as help others, can be life-changing. In order for the US dollar to bounce back, we must practice cash in hand. The power of paper money will always be knowledge gained. Paper money exchange is an intelligently life skill that is no longer taught in our digital world. Why not start today? It’s just that simple to – Hand it over. That transaction will impact your next purchase, and the next purchase, and the practice is rewarding. – it’s reality behind the exchange that triggers our senses. Just something powerful that It feels good to have physical money. Share your thoughts on what it feels like to have physical paper money in hand. Is your financial value in “real time” or in “digital dollars”? Has the digital wallet impacted your financial mental health?

Until our beautiful minds meet again, be safe out there. Many blessings and much love. Remember Everyday Minds Matter -Della ๐Ÿ’ž๐Ÿฆ‹