Introduction
We are living in the era of plastic money paper money use is decreasing each day. The reasons of decreasing the money paper use are various. Rely on credit is increasing which could be the major reason of popularity of plastic money. Besides that security is another reason why people prefer plastic money.
Step 1
Whether you choose to spend money paper or plastic money such as credit cards and debit cards for your payment or shopping, there is nothing fixed that which way is better. It all depends on the financial position and habits of the person as well as on the item he is buying.
Step 2
Plastic money is of two types, debit card and credit card. Debit card is linked with your account and using a debit card means you don’t want to take money paper in your pocket for security reason. When it comes to credit card the situation changed as here credit involves. While using credit cards you need to be sure about the terms and conditions of the bank or financial institution.
Step 3
The trouble with credit card starts with the option of minimum payment. When people choose to pay minimum amount when they receive the credit card bills they actually invite the financial trouble for them because in that way they are increasing their credit each month and finally it leads towards financial destruction of a person.
Step 4
It is hard to compare credit card spending with money paper spending because some people spend less with credit cards and more quickly with money paper and others in reverse order. We can say it all depends on the habit of a specific person that how he feels more comfortable.
Step 5
The best way is to know you first. You need to keep check on yourself that in which option you spend more and then decide which the best option for you is.
Feature
Some people think that if they keep the credit card in their locker than it is impossible for them to misuse it but that is wrong, we are living in a cyber era and everything is online. When you go for online shopping all you need is number of credit card which in most cases you remember or stored in your computer or laptop there for money paper is a better option for them.
Comments
We can say there are certain advantages of the plastic money but at the same time few drawbacks also that are why money paper is still the unbeatable method of payment all over the world. Besides that the fact of the matter is though it is true that popularity of credit cards increased manifolds in past 2 decades but still there are some areas and some shops and places even in big cities where they don’t accept credit cards or only accept cards of a certain bank or company so we all cannot avoid money paper totally or we can say it still needs so much to do to compare plastic money with money paper. Maybe after 10 years we will be in a better position to compare these 2 great methods of spending money.
