Many people say that cash is King, but lately there’s been some debate on the resurgence in cash popularity and whether that fact still rings true.
In my estimation there is only one King entitled to wear the crown, but his Queen is close behind and next in line to rule the financial kingdom. His heirs should not be cast aside either.
It’s time to meet the Royal Family of our financial world. They are the current and future methods of payment and are held in high regard. (trumpet sounds!)
Your Highness the King: Debit Card
I would argue that sometimes cash sits in the top spot, but what ruler doesn’t have an amazing support system? With the ever increasing popularity of perks, rewards and cash back when using a Debit Card, the King is holding onto the thrown (for now).
The Debit Card has less fees associated with it for vendors and (normally) no fees for consumers. He’s accepted online, in store and around the globe. He is rarely seen without the same authoritative zero liability protection as a credit card. And in the event he is lost, stolen or experiences fraudulent charges (how dare they!) he still offers powerful benefits.
Your Highness the Queen: Cash
Cash money is a universally accepted method of payment, and while she can smooth talk her way into anyone’s wallet, she ain’t cheap. There is a high price to pay if you don’t respect her and her King too.
Green is good everywhere but you gotta work for it. Countries all over the world accept cash currency as payment or for exchange. Lots of banks offer 24/7 ATM’s in a wide variety of locations, so she makes it easy to keep your valuables secure. It’s important not to underestimate her power, because when the King is out of commission she temporarily takes over the thrown.
Your Royal Prince/Princess: Mobile Wallets/Digital Payments
These up and coming newbies are becoming more and more popular with this technology driven generation. They still have testing to endure, and a few kinks to work out since not everyone has accepted the “new age” lifestyle they offer.
But they show great potential and signs of long lasting maturity. While they may not be the King and Queen yet, one day you may see them take over the thrown.
The Common Folk: Credit Card
If you want to be rich, you have to spend like one, and if you want to be poor you spend like a poor person. The Common Folk or the Credit Cards are those that survive but often live beyond their realm of authority.
They don’t possess many advanced skills and are just the basic citizens of society. The Credit Cards are noble for sure, working hard, caring for their families, but never really understanding the true potential (or financial freedom) of being a member of the royal family.
How to Become a Royal
It’s pretty easy to become part of the royal family though. Make the decision that you will no longer just be nominal, and that you will educate yourself, polishing your skills till they shine. It’s time to make a change, stand out from the crowd and walk with your head held high. If you want to be a king or queen, then spend like one.
Grab your debit card and some cash for when you make purchases, and put the credit cards in their rightful place. Using credit cards or loans irresponsibly will keep you among the common folks. Others might think you walk around like you’re entitled, but little do they know, you are…and so are they!
Who is the King of your wallet?