05 March 2023 , 16:13
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When it comes to your finances, there are lots of technical terms people often get stumped by. Even seemingly simple phrases can be tricky at times.
So it should perhaps be no surprise that people are just learning what one popular phrase actually means. It turns out some were puzzled over the meaning of 'paying cash', as Tikok users discovered after watching an expert's video.
@financefran, who describes herself as 'your personal finance nanny' regularly shares advice with her 170,000 plus followers, and one of her latest videos has got lots of people talking.
In a short clip that has amassed over 490,000 likes, the pro explains: "When someone says they 'paid cash for their house' or 'bought their car with cash' it doesn't literally mean they paid with physical dollar bills (although it could."
Her caption added: "It just means they had enough money in their bank account to pay the full price upfront, and didn't need to get a mortgage or a loan of a car loan."
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Stunned, one commenter confessed: "i always imagine they pulled out a briefcase of bills tho." Someone else revealed: "That solved a mystery I was too scared to ask about". Elsewhere, 12,000 people liked a comment that read: "I'm ngl I did not know this."
Meanwhile, others were more surprised to learn not everyone understood the phrase. "I am shocked by how many people did not know this," read one such reply.
A different commenter thought: "I'm concerned with how many people thought it was actual cash." However, someone else defended themselves by pointing out: "In the age of digital and physical money saying cash usually means physical." But the first commenter replied: "Sure, at a grocery store or other retail but for larger, usually financed purchases like homes? Cars? No."