Quote:
Originally Posted by peanut
Cash payments rise for first time in 10 years
https://www.bbc.co.uk/news/business-66796263
So people are still budgeting using cash and it does make sense. It also does make you wonder why people are so much debt these days when you don't see exactly what you're spending. It's all too easy to just click here and there, tap your card, pay later, pay in instalment etc etc. |
The argument here is that for people on the tightest budgets, cash is the easiest way not to get into debt as you can physically see what money you have whereas, as you rightly say, tapping, of whatever it is called, can make it far too easy to overspend and get into debt.
---------- Post added at 18:13 ---------- Previous post was at 18:10 ----------
Quote:
Originally Posted by OLD BOY
Many elderly people don’t have the internet or are even capable of using it.
As for telephones, many OAPs only have landlines, and those that do have mobiles still have the old style Nokias and the like.
You’ll see things differently when you get old. Stuff that you master with ease now gradually becomes impossible as your mental capacity declines.
Personally, I’ve had a 20p coin in my pocket for months now as I have no need to deal in cash. But we cannot operate on an ‘I’m all right, Jack’ basis, we’ve always got to think about those who cannot cope with new technology and come up with solutions that make sense to them.
We must never cut off access to cash until we have worked that one out.
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That's exactly the point, and my fear is that those people will become financially excluded and also could end up being debanked as I think it is only a matter of time when a major bank decides to end the use of cash and says that unless you do online you will be debanked. This might happen sooner than we all think.