Has "electronic money" made us lose sight of value?

[subbytna]

I went to get some holiday cash changed and had 2.5k GBP cash in my hand and I thought to myself, that's a Titan Z wad of money there, but actually having that amount of physical paper money in my hand somehow made the amount seem to be "more" that it was actually worth...in my head anyway.

Yes we all know £100 is £100 but when it's on a screen, or £2500 on a screen, but does it really register properly just how much cash that is?...unless you have a thick wad of notes worth that amount, in your hand.

Transferring the 2.5k via online banking I didn't really think too much about it but then having the same 2.5k wad of notes in my hand made me think that perhaps, with electronic money use, are we losing sight of just how much money is worth in your head comparing electronic cash values with actual paper wads of cash.

Might be a bit of a mish mash of a post and perhaps I'm not getting my point across properly but for me anyway, it boils down to having the actual paper amount of the money made it seem "more valuable" to me than when I did the cash transfer electronically....even though it was the same amount of money.

Are we now blasé with money due to using electronics to control it?

 

[subbytna]

I would start with saying what the **** does that even mean

The cost of the Nvidia Titan Z card....



Glad I'm not the only one thinking that. I'm going to use cash more often now, even if it's less convenient. That way I won't just, as was stated before, swipe away 20-30 quid on sites without thinking about it, I'll be more mindfull. I've taken out 25 quid from the cash machine and changed it to £5s so I'll bring £5 a day to work and leave my cards and stuff at home. If I spend the £5 then that's it for the day. If I don't spend it, whatever is left will be thrown into the piggy bank and at the end of the month I'll put the piggy bank change into the credit union.

 

[subbytna]

Why oh why do people do this Obviously 'how much cash it is' still didn't register enough to not get yourself conned by exchanging £2.5k in physical cash for going on holiday

It's almost a month long holiday across USA and Canada. I need that sort of money to buy food and travel costs while I'm away. I don't like using cards while I'm away as I can lose track of what I'm spending and the exchange fees would be a double whammy. If I spend what I have, I know there won't be any nasty surprises waiting from my credit card company when I get back. I get your point though...

 

[subbytna]

Its more real when its in your hand rather like a number on a screen!

aye....that's what I was trying to say lol

 

[subbytna]

I'll have a look at the credit card idea for future use, thanks for the heads up.

 

[subbytna]

What? what are you own about?

The Bank of England is under the authority of the Treasury and is an independent public institution.

The Fed is independent and receives its authority by the US constitution and it is subject to congressions supervision.

ohhh i get it, you're trolling..ok.

The Fed is a private bank....about as federal as Federal Express

 

[subbytna]

I remember when I bought my laptop with cash a few years ago, £640 didn't sound too bad, I had budgeted for it, and I had done extensive research into the model, I planned to keep it for a number of years (and I did) and was all set to go, until I held £640 in a mixture of 20's and 10's in my hand. It took me another week to get my head around the idea of spending that much money then.

Same again when I bought my car.

Seeing £1400 laid out on the desk in mostly 20's with a few 50's made it seem like a horrific amount of money, even though a £1400 car is a dirt cheap car, and I needed a car.

That's pretty much where I'm at. Using cards and DD and paypal and the like has almost made me forget how much money is worth if you have it in a physical paper form, you "think" it's more valuable.