A recent survey by Visa reports that half of all Americans admit to spending $120 in cash each week, but can only account for $75. This means that over $2,300 “disappears” each year.
Where does this money go? Visa’s survey does not tell us, but when I posed this question to my clients, here are some of the responses I received:
- cigarettes
- toll roads
- money for the children
- candy bars and other snacks at the convenience mart
- loans to friends
If you are in or are considering bankruptcy, stop a minute to really think about where those loose quarters and dollars go. A few years ago, I created a “piggy bank” out of an old coffee can and whenever I find spare change lying around my house, I put it in the coffee can. After about a year the can was full and we had over $50.
Where does your “disappearing cash” go?
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