Cash is only used by the poor or elderly

mcast123 said:
The poor I don't get, surely your dole money goes into a bank account?
Click to expand...

I think many find it the easiest way to manage their money. You work out a budget take out that amount of money, very easy to see it physically diminish. While you can use online banking sometimes transactions don't appear right away, and checking how much cash you have is quicker then looking in their wallet.
 
Those that use a card/phone for shop purchases, do you ever walk out the shop and have no idea how much you've just spent?

You've picked what you want, gone to the till, tapped your card and walked out, never registering how much what you've bought has cost you?
 
K.C. Leblanc said:
I think many find it the easiest way to manage their money. You work out a budget take out that amount of money, very easy to see it physically diminish. While you can use online banking sometimes transactions don't appear right away, and checking how much cash you have is quicker then looking in their wallet.
Click to expand...

I read something a while ago that suggested one of the reasons that chips were implemented within casinos was that it creates a psychological disconnect between the act of gambling and the potential loss of money. So people are more willing to wager a proxy than they are a £50 note even though the end result is the same. I do wonder if credit and debit cards have the same effect to an extent.
 
FortuitousFluke said:
I read something a while ago that suggested one of the reasons that chips were implemented within casinos was that it creates a psychological disconnect between the act of gambling and the potential loss of money. So people are more willing to wager a proxy than they are a £50 note even though the end result is the same. I do wonder if credit and debit cards have the same effect to an extent.
Click to expand...

Not a psychologist but I would wager on it being similar.
 
Danm54 said:
Those that use a card/phone for shop purchases, do you ever walk out the shop and have no idea how much you've just spent?

You've picked what you want, gone to the till, tapped your card and walked out, never registering how much what you've bought has cost you?
Click to expand...

If i’m buying lunch for example, I know exactly how much it’s going to cost me before getting to the checkout. Even if I completely missed the big total amount displayed (which I don’t), I always keep a mental note of roughly what it’s going to come to, more so with regular shops, as I’m sure most do.
 
Danm54 said:
Those that use a card/phone for shop purchases, do you ever walk out the shop and have no idea how much you've just spent?

You've picked what you want, gone to the till, tapped your card and walked out, never registering how much what you've bought has cost you?
Click to expand...

I can tell you that when my credit card bill came this month, it was about 30% more than i thought i spent…went through it to make sure there was no fraud and it was simply a case of "it's only a little" but it all stacks up in the end. Which is similar to check out not looking how much i'd spent.
 
FortuitousFluke said:
I read something a while ago that suggested one of the reasons that chips were implemented within casinos was that it creates a psychological disconnect between the act of gambling and the potential loss of money. So people are more willing to wager a proxy than they are a £50 note even though the end result is the same. I do wonder if credit and debit cards have the same effect to an extent.
Click to expand...

It's much clearer how much has been spent using cash, as you have fewer notes and coins in your pocket when you're done.
 
FortuitousFluke said:
I read something a while ago that suggested one of the reasons that chips were implemented within casinos was that it creates a psychological disconnect between the act of gambling and the potential loss of money. So people are more willing to wager a proxy than they are a £50 note even though the end result is the same. I do wonder if credit and debit cards have the same effect to an extent.
Click to expand...
This is 100% true but it is a very easy thing to overcome.

CHECK. YOUR. FINANCES. DAILY.

It isn't that complicated, it takes a minute - the banks have made it ridiculously simple.
 
BowdonUK said:
I own cash. I don't own digital currency.

If you don't own cash then you don't own money. You have to ask permission from your bank if you want to buy anything.

I haven't used cash personally in probably 10+ years. But I still recognise the intrinsic physical value of cash over numbers on a screen.
Click to expand...
Recognise it as in the value of what you are holding decreasing every second you are holding it due to inflation? :confused:
 
mcast123 said:
Ever walked into a store and frustratingly waited while someone paid in cash?

The elderly thing I get, it was the way, back in yonder times. The poor I don't get, surely your dole money goes into a bank account?
Click to expand...

Didn't realise people paid for their drugs by bank transfer these days.

Folk use cash for multiple reasons including folk that aren't poor or elderly.
 
Psycho Sonny said:
Didn't realise people paid for their drugs by bank transfer these days.

Folk use cash for multiple reasons including folk that aren't poor or elderly.
Click to expand...
:cry: Classic PS.

"You bunch of idiots it isn't just poor and elderly, it is people buying drugs too!"
 
FortuitousFluke said:
I read something a while ago that suggested one of the reasons that chips were implemented within casinos was that it creates a psychological disconnect between the act of gambling and the potential loss of money. So people are more willing to wager a proxy than they are a £50 note even though the end result is the same. I do wonder if credit and debit cards have the same effect to an extent.
Click to expand...

I'm very sure this was factored into the way they're designed. I've no doubt it's deliberate to create a disconnect between buying goods and having to physically give away something (paper notes and coins) in return. Studies have shown this makes people far more likely to spend more.

Credit cards in particular I'm very sure were designed to increase people's discretionary spending by allowing you to spend cash that technically isn't yours into your get the bill at the end of the month!

Admittedly if you're able to manage impulse purchases they can be very useful for the bonuses and protection they can offer.
 
Danm54 said:
Those that use a card/phone for shop purchases, do you ever walk out the shop and have no idea how much you've just spent?

You've picked what you want, gone to the till, tapped your card and walked out, never registering how much what you've bought has cost you?
Click to expand...

Reminds me of a funny thing Les Dawson said. A beautiful house surrounded by debt.
 
As from Monday, the trolleys at work - were back to being locked up and needed £1 or token to unlock. From 1st lockdown til then, they were free. Customers were moaning about this as "we don't carry cash anymore". Despite this, we must have collected about £45-50 from pound coins left in the trolley lock. You will be pleased to hear, that they went to the store's charity. Then collected an additional 12 trolley tokens.

One good thing about the trolleys being locked again, customers have to return the trolley. As prior, they parked at different car parks in the town and left them there. Myself and two others were responsible in going round the car parks...
 
You must log in or register to reply here.
Back
Top Bottom