Online account. Automatic draft. Email bill reminders.
Those words don’t exist in a cash economy, which is the reality for most of our participants. While I might pay my electricity bill in 5 minutes on the computer, someone living in a cash-only world will receive a paper bill in the snail-mail, find the cash for the bill, take transportation to pay the bill (which eats up gas, or maybe a bus fare), and hopefully ask for a receipt, to prove their payment was made. All of sudden, a seemingly simple task becomes much more difficult, much more time-consuming, and much more expensive.
Posted originally on www.businesspundit.com, here is a graphic that helps depict the costs of living in poverty.