Carrying hard cash

Rifte said:
When I was first setting up my company, money was really really tight, and we felt that we budgeted better if we dealt with cash. It was more tangible and easy to work out how much we had left.

It is a habit that my wife still uses to this day (unfortunately the logistics of this are less user friendly and it requires one of us to go down to the bank and withdraw it).

In India cash is king, and pretty much everything here is dealt with in cash (including the sale of property sometimes!), so my wife's habit still works well here.
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If people weren't aware, the Indian government has withdrawn some widely used banknotes in order to reduce corruption (https://www.theguardian.com/world/2016/nov/08/india-withdraws-500-1000-rupee-notes-fight-corruption).
 
Things I use cash for on a regular(ish) basis:-

Corner shop (min card spend £5)
Some pubs (one doesn't take card, couple of others are £10 min spend)
Some coffee shops/cafes etc as above
Haircut
Taxi
Bus
Car parking

Yeah cash is far from dead when you live outside the cities..
 
There isn't a single bank in my town where you can deposit cash....
You can withdraw from ATMs but they can't take it back.
 
Skillmister said:
Things I use cash for on a regular(ish) basis:-

Corner shop (min card spend £5)
Some pubs (one doesn't take card, couple of others are £10 min spend)
Some coffee shops/cafes etc as above
Haircut
Taxi
Bus
Car parking

Yeah cash is far from dead when you live outside the cities..
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Same here, i still think cash is king and it is much easier to control spending habits when using cash. Its far to easy to over spend when using cards or apple pay etc.
 
danielanthony said:
If people weren't aware, the Indian government has withdrawn some widely used banknotes in order to reduce corruption (https://www.theguardian.com/world/2016/nov/08/india-withdraws-500-1000-rupee-notes-fight-corruption).
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Yup, it was a massive deal over here for a few weeks between November and December. Mainly as everyone tried to launder their money quickly....mainly using farmers.

However it achieved pretty much nothing, black money still has its own economy over here, and taxation is seen an optional. Its one of the major reasons why the country struggles to move forwards.
 
Unless I know I'm going to spend over £30 then I often don't even bother with cards nowadays. I seem to be able to pay for everything with my phone (Android Pay but I assume Apple Pay is just as good). Cards are old skool :D

I should really slip a £10 in the back of the phone case for emergencies. Then I could probably do away with my card unless on a supermarket run.


spoffle said:
There are also plenty of legitimate places. A lot of takeaways only take cash. Some restaurants as well.
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They are probably dodging tax in that case so won't exactly be legitimate.
 
Not sure how paying via card makes people unable to control their spending. One of the reasons I hate cash is because of the overspend that comes from washing notes and losing odd coins/coppers etc.
 
Most country fare stalls only take cash, also, there are still a lot of car parks that only take coins. The latter I find incredibly annoying.
 
Yeah I don't suffer from overspending on cards either. I think it has more to do with being an irresponsible idiot :p
 
Hades said:
They are probably dodging tax in that case so won't exactly be legitimate.
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Probably, but I couldn't care less if that's what they're doing. My point on legitimacy is that what they're selling is legitimate, not that everything about their business is legitimate.
 
MG42Maniac said:
Most country fare stalls only take cash, also, there are still a lot of car parks that only take coins. The latter I find incredibly annoying.
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In Sweden there is an app linked to your bank account called swish. It allows mobile payments to any mobile number. Has this kicked off in the UK yet? There's loads of country fair crap here too and 99% now take swish, which is now pretty much the final use of paper money I had.


The use of contactless is also severely lacking, which given the lack of cash in society is weird. It's all still chip and pin or phone apps. My bank doesn't even issue contactless cards.
 
Efour said:
In Sweden there is an app linked to your bank account called swish. It allows mobile payments to any mobile number. Has this kicked off in the UK yet? There's loads of country fair crap here too and 99% now take swish, which is now pretty much the final use of paper money I had.


The use of contactless is also severely lacking, which given the lack of cash in society is weird. It's all still chip and pin or phone apps. My bank doesn't even issue contactless cards.
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Sounds similar to PayM, pretty much the same concept
 
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