13 Times You Should Never Pay with Cash

13 Times You Should Never Pay with Cash

Utility bills

"Don't use cash or direct payments from your checking account for regular monthly bills like cable, telephone, or utilities. Use credit cards," says David Walters, a certified financial planner with Palisades Hudson Financial Group. Unlike random, perhaps frivolous, charges to your credit card, these types of bills need to get paid every month. Most companies now accept payment via credit card without any additional charges, so by paying these with a credit card instead of cash, you can take advantage of the benefits of your credit card, such as earning miles or cashback on purchases. It's a freebie for an expense that you're going to pay anyway.

"The caveat here is that this only applies to people who pay their credit card bills in full each month. If you're only making partial payments on the credit card each month, then the interest that accrues on the outstanding balance would negate any benefit to paying monthly utility bills with your credit card," adds Walters. This is just one of those things you should always pay for with a credit card.

13 Times You Should Never Pay with Cash, Source:https://www.rd.com/list/times-you-should-never-pay-cash/