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> It's tactile and gives me a feel for my spending Both in games with premium currencies like diamonds, and in real life with plastic cards and services, it's
by oldcynic 9y ago
> It's tactile and gives me a feel for my spending
Both in games with premium currencies like diamonds, and in real life with plastic cards and services, it's been shown time and again that the further you are from actual cash the more you spend.
This can't be emphasised enough and is, to my mind, a near complete explanation of the drive for cashless. We, as good consumers, will spend more in a cashless world.
When we were struggling to make ends meet after the dot com bust we slowly realised this, and came to draw out cash first for everything possible. If the cash wasn't there first, it did not get bought. I will still, nearing 20 years on, draw cash prior to shopping, or buying fuel etc. Debit cards get used online. The credit card lives in a drawer. Unused and balance free for years.
- eswat 9y agoI’m reminded of the benefits of cash whenever I go certain parts of SEA, like the Philippines, where using cash is actually more convenient than using a card (less time dealing with receipts and signatures, don’t have to hope their credit card machine has a working connection, etc.)
- sokoloff 9y agoFor this same reason, we pay our kids allowance in cash and when they buy toys or other things with it, we make sure they are the one to take the cash out of the little cash purse, carry it in their pocket to the store, and they are the one to physically hand the cash over the cashier. I don't care if it would be 10x easier and I'd get 1.5% cashback on the purchase with the credit card; I want them to have the experience and understand that they are trading away a limited resource that took time and effort to acquire, not just mindless swipe/stick/tap.