Living on Cold Hard Cash: It's Costly, Frustrating and Time-Consuming

Friday, April 9, 2010

For most folks, April 1 probably seemed like any other day, other than maybe a few April Fools' Day pranks. But it was a special day for me. I finally rejoined the mainstream: I used my debit card to buy a pack of gum! Oh, it was a glorious experience. I walked up, swiped my PaychekPLUS! Elite^® Visa^® card and went on my way with 20 sticks of sugar-free bliss. It was so easy. So convenient. So liberating!

Why the excitement over such a small purchase? Because I just survived a month-long experiment in which I lived on cash alone. I not only paid cash for gas, groceries and everyday expenses, but also for bills and even the rent for my office space! It was an extraordinary, eye-opening experience.

It was also a time-sucking and costly experience. I spent a total of $19.90 and almost SIX HOURS of my time just getting my bills paid. And I couldn't even choose which six hours. You may not realize it, but a lot of the places you remit payment to electronically every month aren't open all day, every day like the Web. Most are available Monday through Friday, 8-5. Of course, when you work fulltime, those hours aren't very practical. As for the expense, the twenty bucks I'm out may not break me, but in a lot of people's lives $20 means a tank of gas or food for the family.

While I won't shed a single tear that my grand experiment is over (and I hope never to be revisited), I know I'm better for the experience. Having walked the walk, I truly understand what it's like to live on cold, hard cash.  At FSV, our products and services improve the lives of countless Americans day in and day out. We help those who are trapped in a cash-based world gain access to a much more convenient and safer way of life. I was already proud of the company I work for, and my experiences over the past month have given me an even deeper, more profound sense of pride and respect for what we do here at FSV. With the experience I've gained, I have no doubt that these improvements must bring smiles to the faces of those who are experiencing for the first time what you and I take for granted every day – the ability to receive and make electronic payments.

Thanks to all of you who have kept up with my little adventure. As they say, it's been real, and it's been fun, but I can't say it's been real fun!

Chris Pigg
VP Client Development

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