The benefits of a cash-only budget can influence better spending habits, healthier budgeting, stronger negotiating and even help lose weight. When using cash, consumers are more aware of how they are spending money, making them think twice about what they are purchasing and where.

According to a 2010 study published in the , Journal of Consumer Research , paying cash helps “curb impulsive urges” when choosing to purchase unhealthy food. In contrast, using credit or debit cards “weakens impulse control,” and swipers are more likely to buy unhealthy items.

Also, when paying in cash, consumers are more emotionally attached to their purchases. Watching money leave their hand makes them more mindful of their buying habits, including making healthier choices. This was the hypothesis behind a recent study in the , Journal of the Association for Consumer Research published by the University of Chicago Press where they share “. . .negative arousal elicited by monetary payment plays a role in consumption. Cash payments increase this negative arousal, which increases attention to decision risks.”

When consumers have banknotes in hand, they see it versus the easy “swipe and pay later” where debts can sneak up. You know, like those extra pounds they could have avoided by carrying cash.

As the studies above show, the positive side effects of using cash are primarily psychological. So, how exactly does carrying cash help you save money? Here are a couple of ways that stand out and help prove that offering easy access to cash via an ATM in a retail business can boost sales and save consumers money.

Better Deals and Negotiations - Some businesses offer discounts for people that use cash. These , Cash Discount Programs allow consumers to save money in the store and provide a flat rate discount for the merchant, making an impact on the retailer’s profit margin.

Having cash on hand also gives consumers a way to negotiate better prices that a card does not. For example, if a Zumba class costs $25, and a customer only has $15 in their pocket; they are more likely to get that class for what they have on hand.

“Cash Diets” - Studies show that using cash can help people make healthier choices, but a “cash diet” is a way to budget money and make healthier spending choices. The idea behind this is to take out cash for the week or month and put it in a labeled envelope. This helps the consumer keep track of their money and encourages them to stay on track with spending.

When you install a retail ATM in your business, this offers your customers easy access to cash. Customers get their “cash diet” recipes, and you earn passive income on each ATM transaction. Even better, studies show that , 40% of those who withdraw money from the ATM will spend about half of it right there – increasing your sales.

No matter what type of business your run – a convenience store, pawnshop, retail business, or even a bar or restaurant, we have an ATM program that can be customized to fit your needs.

,, Contact us to find out if you qualify for a FREE ATM.