Cash Makes A Comeback

[naomi24]

According to new research by the Post Office, in an effort to keep tighter control of their spending people are turning back to cash which seems a good idea to me. Plastic is all too easy to spend. What say you?

https://www.bbc.co.uk/news/business-62437819

[FatticusInch]

Rather not use cash.
There’s the safety aspect these days(virus etc) plus I don’t want a pocket full of coins when given change.

Also, if I lose my card and/or phone I can stop the card being used and access denied to the phone almost immediately.
If I lose my wallet or a money clip with £100 in cash in it it’s gone forever, I’ll never recoup it.

[Bobbisox1]

I agree, it’s just so easy to use Contactless now and it’s not that safe anyway, my OH once picked my card up by mistake think it was his ( I’d been using it to book flights with the intentions of putting it back in my purse) he’d gone into M&S food hall and spent £34 , it was only when he was putting it back in his wallet that he saw his own

[Patsy33]

Good news, I'd say.

[davebro]

I know how much I spend - almost exclusively on debit card. Cash is on the way out.

[naomi24]

It's not just the debit cards though, bobbi. I think the credit cards are a real menace. They keep people poor.

[bhg481]

I'm not convinced it's for budgetting reasons in most cases. A lot of people like to use cash for small purchases but were prevented from doing so by the covid pandemic recommendations to use cards wherever possible and shops refusing to accept cash. Now that things have relaxed somewhat the cash-lovers can resume their habit.

[schippiegalette]

You can't keep track of cash. I don't see how handing over £30 in cash at Tesco is any different than using your card or phone. At least at the end of the week you can check your Statement online and see how and what you are spending on.

[Bobbisox1]

Credit cars are alright for some major purchases , I use one but always pay it off when it’s due , my worst nightmare would be to incur interest on it

[schippiegalette]

how can credit cards be a menace? Its the people issuing them and the people using them that have a problem not the piece of plastic

[barry1010]

I can see exactly where my money has gone when I use my cards. I have proof of purchase when I pay by card.
Using cards gives me much more legal protection than paying by cash.
If I lose cash, or it is stolen or scammed off me, tough.

My credit card is paid off in full each month and has never cost me a penny; in fact it pays me at least £300 a year just for using it.

I was cashless before COVID and I'm staying cashless

[schippiegalette]

I don't know why we even have cash anymore. Even my window cleaner has a machine for paying.

[FatticusInch]

There are other benefits too, like Nectar points for eBay purchases etc, where cash is very rarely optional unless you’re picking up an item in person.

[barry1010]

I pay my window cleaner by bank transfer, it's instant. He's happy since he got mugged at the end of his working day a few years ago. It's easier for him to keep track of his payments, too

[naomi24]

For people who are on a tight budget and find it difficult to keep tabs on their spending, cash is a good option. No money in the wallet - you can't buy it. Those who prefer other methods are at liberty to use them.

[New Judge]

//There’s the safety aspect these days(virus etc)...//

If you're referring to Covid, it has been shown that contracting Covid (which is caused by SARS-Cov-2, an an airborne respiratory virus) from cash is very unlikely:

https://www.aop.org.uk/ot/in-practice/business-management/2021/08/09/study-finds-low-risk-of-covid19-transmission-from-cash

The imagined threat stems from the early days of Covid when, for some reason, it was thought it would behave unlike any other airborne respiratory virus in history.

Only time I use cash now is for tips in restaurants. Use card for almost everything else, have an account with my local taxi firm (and Uber in emergencies), use contactless on public transport, pay by card in London taxis when I use them. The last time I drew a significant amount of cash from the bank was to pay a builder who did my work with no VAT provided I paid in folding money. Apart from that and the tips, cannot remember when I last used cash. Even the Great British Beer Festival (which I attended last Friday) has gone over to card only payments.

[FatticusInch]

But people are a lot less ‘touch-feely’ these days since the pandemic, many are sticking with the mindset, as evidenced by quite a few still wearing masks.
With plastic money some won’t take a chance either due to rising cases of monkey pox etc.
Cash is on the wane, it’s that simple.
https://amp.theguardian.com/business/2021/jun/16/cashless-society-draws-closer-with-only-one-in-six-payments-now-in-cash

[douglas9401]

Is there a better start to the day than when some gonk is trying to pay with their phone and it doesn't happen?
Listening to how it worked in the last place and how it's never been a problem before gives me the lift I need on a dull morning.

[bednobs]

i have recently re-joined the cash economy. My 10 year old has just started to be allowed to the shop on her own, and therefore needs cash pocket money nowadays.
It's a right pain!

[barry1010]

bednobs, have you thought about Go Henry or similar?

[bednobs]

it's a rip off IMO