Bill Schantz Scholarship

William Schantz Scholarship

Times Cash Is Not King - William Schantz

Times Cash Is Not King – William Schantz

We all know the old saying, “cash is king,” but in certain situations, having money alone isn’t enough to get what you want. In today’s day and age, there are countless instances, as per William Schantz, wherein cash isn’t an accepted form of payment, and other forms of currency need to be used instead. From Bitcoin for international payments, offering services or skills in exchange for goods and services, bartering with neighbors using a local currency system, and even treasure hunting – these opportunities present themselves around us every day as viable alternatives when cash has limits. Let’s explore ways that money can take a backseat while still getting what we need and want out of life!

William Schantz Lists Times Cash Is Not King

1. Gift Cards: Gift cards are becoming increasingly popular as an alternative to cash, says William Schantz. Gift cards offer convenience, security, and control over spending, making them a better option than handing out money directly. With gift cards, you can pre-load funds onto the card and then set spending limits or block certain types of purchases. This makes it easier to stick to budgets and avoid overspending. Plus, many businesses now offer loyalty rewards when customers buy their gift cards, so you’ll get even more bang for your buck!

2. Digital Payments: Digital payments are on the rise, with companies like PayPal providing secure payment options that allow users to send and receive money electronically without exchanging cash or checks. Digital payments also provide convenience and security, allowing you to manage transactions quickly and easily. Plus, when you use digital payments, there’s no need to worry about carrying cash or dealing with cumbersome checks.

3. Non-cash Rewards: Instead of handing out money as a reward for completing tasks or meeting goals, many companies are now offering non-cash rewards such as gift cards or vouchers for special discounts on goods and services. This is a great way to incentivize employees without having to shell out cash. For example, if an employee meets their sales goal for the month, they could be rewarded with a voucher for free products or services from the company’s partners.

4. Donations: Charitable donations are also becoming a popular way to give back without using cash, says William Schantz. Instead of writing a check, many people are now donating items or services that can be used by nonprofit organizations. For instance, someone could donate a car to a charity that provides transportation for those in need, or they could offer their time and expertise as volunteers.

These are just some examples of how cash is not always king when it comes to giving. According to recent statistics, over 70% of millennials prefer to receive non-cash gifts such as gift cards instead of money, while nearly 50% have made charitable donations in the last year. Furthermore, digital payments are expected to grow from $3 trillion today to over $6 trillion by 2023! As technology continues to advance and more options become available, cash-free ways of giving are becoming increasingly popular. With so many creative and convenient alternatives to cash, it’s no wonder that more people are ditching their wallets and going digital!

Real-Life Example: As an example, a company recently gave out rewards for meeting monthly sales goals. Instead of handing out cash bonuses, each employee was rewarded with a $50 Amazon gift card as well as vouchers for free services from the company’s partners. This created a unique incentive system that allowed employees to treat themselves while also benefiting the company’s partners. The employees were thrilled with the reward, and this resulted in increased engagement and productivity across the board. It just goes to show that sometimes cash isn’t the only king.

William Schantz’s Concluding Thoughts

In conclusion, cash is not always the best option when it comes to giving or rewarding others, says William Schantz. With so many different alternatives available, like gift cards, digital payments, and non-cash rewards, there are plenty of ways to give back without using up your hard-earned money. By taking advantage of these creative non-cash options, you can reward employees or donate to charity in a unique and meaningful way. So why not try something different when it comes time to give back? Cash may still be king for some things, but for many people, it’s just not necessary!

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