Should we move to a cashless society?

With cell phones becoming ubiquitous, and the extensive use of credit cards, electronic check depositing, being able to use your phone to pay for items, etc., would you like to see a move to a cashless society?

There are a long list of pros and cons to either option, so I thought this would be a good discussion topic.

I would like to see that happen. I don't like using cash, and would much rather have everything electronic. If we start to move that way, phones would have built-in NFC chips (or other standards) to just tap phones to transfer money (along with password and approval, so you don't wind up giving $100 to everyone on the subway that you bump into... ) like Google Wallet.

Re: Should we move to a cashless society?

OMG it's so funny you posted this.

This weekend, DH and I were running around, trying to make a train into the city to see a show and he is like- I need to stop for cash. Well lo and behold we are hitting all this traffic on our way to the bank (we hate paying foreign ATM fees) and then there is a line at the drive up ATM, etc.

I was getting so frustrated and said- aren't we just putting everything on the credit or debit card tonight? He said yes but he likes to have cash.
Me personally, I run around with a dollar in my wallet most days and it doesn't phase me because it's rare I need cash for anything.

I said to him in about 20 years cash will be obsolete. He said he thought that would never happen.

But if you think about it, you can do almost everything cashless now a days. There are even apps to pay your babysitter right through your phone, tip people through your phone etc.
There is also that Apple Pay app and Google Wallet, etc

Personally I wish cash would just go away. Live is so much easier cashless IMO

Message edited 3/28/2017 9:46:37 AM.

Should we move to a cashless society?

I also hate using cash for things. It's so inconvenient.

My hair and nail salon don't let you include tip on your credit/debit card which I find so annoying because I always have to make an extra stop at the ATM before I can go to these places.

Should we move to a cashless society?

I NEVER use cash, so much so I never even use my debit card ever! Our pay checks are direct deposited. I write checks from my account to pay bills, the others are auto debited. I never even use my debit card. Like ever. I didn't even know if it was good at one point. I use my AMEX for EVERYTHING. I don't even use my debit card. God forbid there was a fraudulent charge. I like my Amex. Charge everything during the month. Pay the bill on the 30th. I wouldn't do this if there was an option to carry a balance but you have to pay it off every month so you can't overspend. I hate cash though

Should we move to a cashless society?

I hate cash. I have a bad habit of losing cash but I doubt they will completely get rid of it.

Should we move to a cashless society?

I agree, cash is sooo inconvenient. I cannot stand when I go to a restaurant and they take cash only! Such a turn off!

Re: Should we move to a cashless society?

I try to never use cash unless it's to pay the babysitter or housekeeper. I would prefer to move to a cashless society but I am sure a lot of small business owners would not be too keen on the idea!

Re: Should we move to a cashless society?

I hate using cash. Then when you get change back, you have all this change on you. I always use my credit card except when getting gas for car.

Re: Should we move to a cashless society?

Re: Should we move to a cashless society?

While I do a lot online in regards to bill pay etc - for every day stuff, I ONLY use cash.

That stems from my DH being in a cash business. Regardless of how you pay at a restaurant, he comes home with cash. I find it a pain in the neck to go to the bank to deposit it - and obviously do, but 95% of the time, I always have cash on me and would prefer to pay that way.

If society (or Restaurants ;) ) did go cashless (and DH's $$ got directly deposited) I'd have zero problem with a cashless system... but until that happens... It doesn't bother me.

Re: Should we move to a cashless society?

Absolutely not!

I always make sure I have cash on me. I use a credit card for a lot of my purchases but I don't use a debit card at all.

There would be such a loss of privacy.
Fraud, power outages would be a problem to access your money.
Third party's would/could be in control of your money!
It would also put those that are bad with money easily into debt.

Re: Should we move to a cashless society?

Considering I use cash almost never, I am all for it!

Re: Should we move to a cashless society?

I'm all for it. The only time we use cash is for school stuff, church and my kids allowances lol. I would love it if the world went cashless, I hate having cash on me bc I've lost it more than i would care to admit lol, and I hate going to the ATM, I always have to go when the banks closed and I'm paronoid that someone's going to come up and rob me.

Re: Should we move to a cashless society?

Re: Should we move to a cashless society?

Re: Should we move to a cashless society?

Posted by hmm

Posted by halloweenbabe

Absolutely not!

I always make sure I have cash on me. I use a credit card for a lot of my purchases but I don't use a debit card at all.

There would be such a loss of privacy.
Fraud, power outages would be a problem to access your money.
Third party's would/could be in control of your money!
It would also put those that are bad with money easily into debt.

:

I use cash too, not for big purchases. Using cash also help spend less, you physically see how much is in your wallet each time and decide what is a NEED vs a Want lol

Re: Should we move to a cashless society?

Posted by GoldenRod

Posted by hmm

Posted by halloweenbabe

Absolutely not!

I always make sure I have cash on me. I use a credit card for a lot of my purchases but I don't use a debit card at all.

There would be such a loss of privacy.
Fraud, power outages would be a problem to access your money.
Third party's would/could be in control of your money!
It would also put those that are bad with money easily into debt.

:

I use cash too, not for big purchases. Using cash also help spend less, you physically see how much is in your wallet each time and decide what is a NEED vs a Want lol

I spend less with credit cards than with cash. With a CC, I know that I'll be paying interest if I spend too much. With cash, if I have it, I spend it. With cash, I spend much more on wants than with my CC.

Plus, with a CC, I get cash back, so I save money by using CCs vs cash.

Re: Should we move to a cashless society?

Posted by hmm

Posted by GoldenRod

Posted by hmm

Posted by halloweenbabe

Absolutely not!

I always make sure I have cash on me. I use a credit card for a lot of my purchases but I don't use a debit card at all.

There would be such a loss of privacy.
Fraud, power outages would be a problem to access your money.
Third party's would/could be in control of your money!
It would also put those that are bad with money easily into debt.

:

I use cash too, not for big purchases. Using cash also help spend less, you physically see how much is in your wallet each time and decide what is a NEED vs a Want lol

I spend less with credit cards than with cash. With a CC, I know that I'll be paying interest if I spend too much. With cash, if I have it, I spend it. With cash, I spend much more on wants than with my CC.

Plus, with a CC, I get cash back, so I save money by using CCs vs cash.

were opposites lol, I don't get cash back and no matter how big the balance is I pay in full.

cashless society would have a Neg impact on us in many ways...

Should we move to a cashless society?

I pretty much only use credit card. The only exception is when I pay my babysitter or when I chip in for a few dollars for something at work (like a baby shower gift or something).

Re: Should we move to a cashless society?

I wouldn't feel comfortable with cashless because then I wouldn't be able to "make it rain". All jokes aside I predominantly use cards and hate when I can't tip on the card at the nail salon etc.

I wouldn't want it to be cashless even though I hardly ever have cash. I do buy gas with cash cause it's cheaper sometimes. I feel like there are a lot of cash only business and eateries.

Re: Should we move to a cashless society?

Re: Should we move to a cashless society?

Re: Should we move to a cashless society?

Can I tell you how much money I have saved by using my Target red credit card?
I had no desire for yet another credit card, and I never take dept store credit cards, but not having the Target Red card is just silly and a waste of money to me.

It's money in your pocket. 5% off your entire purchase right at the register. Money for nothing.
I love seeing the total drop from $100 to $95 as soon as I put the card in.
Plus free shipping all the time on the Target website.

I never ever ever in my life carry a balance so I just use the card, get my discount, and pay the bill at the end of the month- interest etc is not an issue.
It's all good, no bad.
Money for free
Can't do that with a cash payment

Message edited 3/28/2017 3:45:54 PM.

Re: Should we move to a cashless society?

While I never use cash, I like to have $20 on me. I will say, I have had my bank cash atm cancelled because I did not have enough annual withdrawals on it. So the one time I actually needed it, I had to get a new card issued to me. I literally never use cash.

Re: Should we move to a cashless society?

Posted by NervousNell

Can I tell you how much money I have saved by using my Target red credit card?
I had no desire for yet another credit card, and I never take dept store credit cards, but not having the Target Red card is just silly and a waste of money to me.

It's money in your pocket. 5% off your entire purchase right at the register. Money for nothing.
I love seeing the total drop from $100 to $95 as soon as I put the card in.
Plus free shipping all the time on the Target website.

I never ever ever in my life carry a balance so I just use the card, get my discount, and pay the bill at the end of the month- interest etc is not an issue.
It's all good, no bad.
Money for free
Can't do that with a cash payment