“Banks introduced the installment plan. The disappearance of cash and the coming of the credit card changed the shape of life in the United States.”
As Black Monday erupted and people were jumping out of windows, a phrase was born. “Cash is king” posited Per G. Gyllenhammar, the CEO of Volvo. Thus a phrase entered into our lexicon. You can utter that phrase to nearly anyone and get at least some din of recognition.
The typical financial advice that you’ll find is that you should have six months of expenses in cash or liquid assets such as CDs … Read the article