In the age of credit card loyalty rewards, tap-and-go payments and “buy now, pay later” plans, the idea of using cash to make purchases might have the quaint whiff of yesteryear. Yet paying cash for certain goods and services can actually save you money, personal finance experts say.
With total credit card balances in the U.S. reaching $1.1 trillion in 2024, now may be a good time for consumers to whip out their greenbacks or their debit cards, particularly when it comes to the following expenses.
Gas
Is it cheaper to buy gas when you pay in cash versus a credit card? At many stations, yes. Known as “dual pricing,” discounts on gas paid for in cash typically range from 5 cents to 10 cents per gallon, according to NerdWallet, though discounts can reach 40 cents at some stations.
The reason for dual …