Not everybody took business studies in school. Even those who did may have skipped over some important aspects of practical day-to-day cash management and financial wisdom.
OTT Mobile provides a digital cash management ecosystem that allows you to seamlessly manage your cash transactions effortlessly and securely.
Given our experience in dealing with cash, we thought we’d offer some cash-based financial wisdom that you may not have learned at school.
Negotiating For Cash Discounts and Deals
Schools that teach about finances often overlook the art of negotiating cash discounts or seeking out cash-only deals. We’re often taught that the price advertised is the final price. However, cash offers can frequently fetch a reduced price if you’re bold enough to haggle.
In many cases, cash transactions will offer significant savings for both you and the vendor, as you can save on transaction fees that are associated with credit or debit card processing.
Avoiding Unnecessary Debt
Many financial education courses will teach you all about how to build your credit score and why it is so important to have healthy debt. However, what they often fail to teach is that you can avoid unnecessary debt by dealing in cash only.
Not only does this help you practice healthy financial management by buying only what you can afford, but it can also save you from the exorbitant expenses associated with interest rates.
Debt can pile up quickly if you live beyond your means. However, dealing in cash can significantly improve your financial position by forcing you to save and helping you build up your asset base without getting yourself into financial difficulty over never-ending debts.
Protecting Your Cash Assets
Dealing in cash is great, but it comes with the risk of theft, especially if you’re carrying around wads of physical cash. Some people will hide their cash in safes or lockboxes, but this is still at risk. Therefore, it’s incredibly important that you safeguard your cash by storing it in a safe place.
You can manage your money by using cash-based digital transactional systems such as OTT 4 Me, which allows you to better manage your cash flow and keep your cash secure by seamlessly digitising it.
Digitise your cash today to keep it secure yet accessible. Contact us today to find out more or buy a cash voucher now.
Frequently Asked Questions and Answers:
- What are cash discounts and how can I negotiate them?
Cash discounts are reductions in price given when you pay in cash rather than using a credit or debit card. To negotiate these, simply ask the vendor if they offer a discount for cash payments, as this can often result in savings due to reduced transaction fees. - How can I avoid unnecessary debt while managing my finances?
By dealing exclusively in cash, you can avoid the temptation to overspend. This practice encourages only spending what you can afford and prevents accumulating debt from credit cards, which often have high-interest rates. - How does OTT Mobile help in managing my cash transactions?
OTT Mobile offers a secure digital cash management ecosystem where you can safely manage your cash transactions. The platform allows you to digitise your cash and make online payments without the need for traditional bank accounts. - What are the benefits of using digital cash management systems?
Digital cash management systems, like OTT 4 Me, allow you to store and manage your cash securely. You can digitise your cash, reducing the risks of carrying physical cash while keeping your funds accessible and protected from theft. - What is OTT 4 Me and how does it work?
OTT 4 Me is a digital platform that lets you manage your cash flow effortlessly. It allows you to convert physical cash into digital currency, enabling online transactions without needing a bank account. - Is it safe to store my cash digitally?
Yes, storing your cash digitally through secure platforms like OTT 4 Me is safe. These platforms use encryption and security measures to ensure that your funds are well-protected, reducing the risks associated with carrying physical cash. - How can OTT Mobile help me save money?
OTT Mobile offers cash-based digital transaction services that help you avoid unnecessary fees associated with credit or debit cards. By using cash to pay, you can benefit from discounts and save money on transaction costs. - Can I use OTT Mobile for online shopping?
Yes, OTT Mobile allows you to use your digitised cash for online purchases, providing a safe and convenient alternative to traditional payment methods like credit cards or bank transfers.