What is one benefit of being a cash-only consumer?

Being a cash-only consumer significantly helps individuals control their spending and avoid debt because it creates a tangible limit on available funds. When using cash, consumers are only able to spend what they physically have on hand, making it easier to stick to a budget. This method of payment can deter impulse purchases since it requires the physical act of handing over cash, which can make someone think twice about their buying decisions. Additionally, not using credit cards or loans means they are less likely to accrue debt or fall into the cycle of borrowing, ultimately leading to better financial health and independence.

The other options do not align with the core benefits of cash-only spending. For instance, shopping online typically requires cards or digital payments, and being cash-only would complicate this. Additionally, having cash does not inherently influence loan approval chances, which typically rely on credit history and income rather than payment methods. Lastly, cash transactions do not offer cash back rewards, which are usually tied to credit card purchases.