That will be $13.49

Shoot, I'm a quarter short.

That will be $13.49

How would you like to pay?

Cash, please

How would you like to pay?

Credit card, please

This card is so easy to carry around, and when I go to Europe this summer, I can use it!

Oh no, I wasn't planning to spend that much!

Darn, these coins are so heavy and I don't have enough room in my wallet for all this cash. At least I won't spend more than I plan to.

A man plans to buy groceries, as he is low on groceries on home. He does this twice, one time with cash and one time with a credit card, to figure out which method of payment is superior. During his experience, he figures out the pros and cons of each payment method.

Here is a few pros and cons on each payment method:

Cash:

Pros: There is a spending limit, ensuring that you won't spend more money then you intended to

Cons: Depending on the amount, the money may be hard to carry. You have to count the exact amount of money. Coins may be heavy.

Credit Card:

Pros: Easier to carry around, as it is just a card, accepted globally

Cons: There is a spending limit, meaning that you can accidentally spend more than you wanted to, this could lead to credit card debt, easier to lose since its small.