- Receipts - It is very simple to misplace a receipt for a purchase. If you purchase an item that has a warranty or guarantee, you may need your receipt long after your purchase. In this case, your canceled check can be obtained from your bank if you misplace your hard copy, allowing you to prove the date of your purchase. This is a very valid reason to write checks instead of using cash.
- Mailing - You should never mail cash to anyone. This is a warning that has been repeated over and over through the years. Mailing cash is simply inviting a problem of someone saying they have never received it. Using a check allows you proof that the check was cashed and provides a long term record of payment.
- Taxes - It is easier to claim deductions if you have paid for items with checks instead of using cash. This includes expenses that you may want to deduct (medical, property taxes or other allowable expenses) on your taxes. In addition, making donations by cash can result in your being unable to claim them as a charitable contribution. Taxes are a very valid reason to write checks instead of using cash.
- Budgeting - Even if you have not considered it, using checks allows you to have more control over your budgeting. If you use checks instead of cash, you will have a better record of how much you are spending. This allows you to adjust your budget and keep your spending under tighter control. Budgeting is a very good reason to write checks instead of using cash.
Even if you feel compelled to utilize cash when you are purchasing something, you should consider writing a check. Writing checks instead of using cash will allow you to have a lasting record of your purchases, donations and provide you with peace of mind. Writing checks makes sense for a number of reasons.
