How spending with cash can save you money in the long run

CINCINNATI, OH (FOX19) - Did you know that as consumers, we can all save a few extra dollars on certain items by simply paying with cash?

In this day and age it's more convenient for us to use our credit or debit cards, but some business owners are more likely to give you a break if you use cash because they benefit as well.

Simply Money's Nathan Bachrach says, "Sometimes the person you are talking to happens to run the business and they would rather have cash then pay the transaction fees to run the credit card machines."

One place that you can save is at the gas pump. The national average per gallon this week is $3.12, and while many of the national chains don't offer discounts for cash purchases, some regional and local chains do.

In addition, check if your gym membership offers a form of discount for cash. Insurance companies occasionally waive some service fees with a cash discount, along with some doctors who will cut you a break if you pay up front. And some local mom and pop stores are more willing to deal if you pay with cash.

But what about bigger items like a new car? 15% of new Kings Toyota customers pay with cash and they save in the long run.

So think about it. Credit cards are not an endless cash stream. Bills show up later and usually have interest. Cash is the safer route.

You can discuss other places that offer discounts for using cash on our Facebook page.

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