Many people believe that eventually, and sometime in the not so distant future, no one will carry cash in their pockets, and everything will be purchased using plastic. others do not see the disappearance of cash until way in the future when robots and flying cars are the norm. Whether it becomes a reality or not, it’s quite possible to live almost cashless in our current society!
Just think for a moment. At petrol stations you can now pay at the pump using your card. Most shops, restaurants and supermarkets now have a retail cash register that can take all kinds of cards. There are even card terminals at the windows of drive thru fast food places. It does seem possible that you could get through most days without needing cash as you can use debit and credit cards in most places.
As with any choice there are advantages associated with going “cashless” or not, as well as disadvantages. You have to be at the retail cash register each time you use cash. cash is stolen very easily and you cannot use it to buy things on the phone or over the internet. However, by using cash you can remain anonymous whereas cards mean that some of your personal details are passed to the seller. With cards, there is a risk of fraud and identity theft.
Over-spending is one of the biggest problems people have with their credit card. When you do not have to count cash or get it out of an ATM it is easy to buy more expensive things.
You can decide whether you want to use your cash or your card because we still have the choice to use both in most places. It’s hard to say whether or not we will ever be forced to use only plastic, but you can bet if the credit card companies have their way we will become a cashless society! Until then, become familiar with the advantages and disadvantages of each option, and decide which will work for your personal financial habits and discipline.
