Inflation is causing everyday items to cost more. And with wages not keeping up, who couldn’t use a little extra cash every month to make ends meet?
Quite a few as it turns out. According to a recent GOBankingRates report, 38% of survey respondents said they have at least one side gig. But the number might be even higher. A new report from LinkedIn, reported that the number of people with at least one side gig may be as high 50% and it’s not just the middle class, either. Upward of 62% of people earning $100,000 or more reported having some kind of additional income beyond their main job. And the additional revenue adds up, with side hustles it’s bringing in an estimated $50 billion in additional revenue for Americans each month.
ATM Referrals: An Easy Way to Make Extra Money
We understand everyone can use a little extra money every month. That’s why Paramount Management Group, a leading supplier of ATMs and cash management products, created a unique referral program.
If you run across a retail business that doesn’t have an ATM or takes in a lot of cash and could use a smart safe or cash recycling system, simply refer to Paramount. “A referral is as fast as a phone call or email,” says Paramount Director of Retail Sales Jim Krawczyk. “Simply reach out to your contacts and provide them with the marketing materials we supply and introduce them to our team.” The Paramount sales team will handle the rest.
It’s easy to earn extra cash and not just a one-time referral fee either but recurring revenue. “We provide marketing materials like brochures that discuss our hassle-free, turn-key ATM programs, and all the support a referral partner,” Krawczyk continues.
And best of all Paramount referral partners earn a percentage of the monthly profit for every ATM that is installed – for the life of the contract. But more importantly than that our partners can trust Paramount to provide nationwide service, customized ATM programs that meet the unique needs of retailers and 24/7 support.
But Isn’t Cash on Its Way Out?
Cash usage is on the rise. Really? Yes. Despite what you’ve heard, the cashless society is not even close to being a reality in the US. In fact, more Americans are turning to cash as a way to stay on budget in today’s tough economic times.
Cash as a Budgeting Tool
In fact, 69% of Gen Z is using cash more now than they did last year, according to a May 2023 Credit Karma report. Of Gen Zers who use cash to pay for purchases, 59% say they do so as a way to budget, and 64% say they spend less money when they pay with cash.
But it’s not just the young and who are using cash. Households earning less than $50,000 per year rely even more heavily on cash. Approximately 30-40% of their transactions are made with cash.
And cash remains the most common method for making small, everyday purchases. According to the Federal Reserve Bank of San Francisco’s 2023 Diary of Consumer Payment Choice, the majority of payments (38%) under $25 are made in cash and cash account for 55% of payments under $10.
Cash Usage in Times of Crisis
Consumers in general rely more on cash during times of crisis, too. And it’s not just natural disasters like hurricanes or wildfires, where electricity and internet may be affected, either. Research done by Paysafe showed that 24% of U.S. consumers increased their cash use during the COVID-19 pandemic. Those consumers viewed cash as a way to stay in control and avoid overspending during uncertain times.
ATMs: Americans Crave Convenience
But where are Americans getting the cash they use? Some are getting it at the register when they make a purchase, older consumers are more likely to take a trip to the bank, but the majority of younger consumers are using the ATM. In fact, consumers 18 to 34 years old visit an ATM over seven times per month.
Ready To Start Earning Extra Money?
If you could use a little extra money every month, take advantage of the Paramount referral program. With marketing and sales support, we make it easy to earn recurring revenue.
About Maya Fuentas – With more than two decades of executive level sales and operations experience in the payment processing arena, Maya currently serves as Senior Vice President, Sales and Marketing with Paramount Management Group. In her current position, she is an integral part of the executive management team, manages the company’s sales and marketing efforts and specializes in mergers and acquisitions. Connect with Maya via email or through LinkedIn.