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Cash is very inconvenient to use. It requires frequent trips to some place to get it. When paying for something, if I get coins back, I have to figure out a w
by cheema33 3y ago
Cash is very inconvenient to use. It requires frequent trips to some place to get it. When paying for something, if I get coins back, I have to figure out a way to use them? I don't.
Credit cards give me about 2% back on my purchases. I get nothing back with cash. I do carry some cash. But, I pull it out as a matter of last resort.
Cashless is winning primarily because of massive massive convenience. You can pretend all day long that cash is just as convenient, and you'd be wrong.
Also, govt. actually prefers if you use cash. When something bad happens to your cash, like if it goes up in smoke, govt. gets free money.
- charlie0 3y agoSome countries have no cents, just notes. I hope we get there soon. I hate carrying coins and is one of the main reasons I don't use cash often.
- rugaeiou 3y agoLeftover coins used to bother me. Not any more. I usually use them first on my next transaction and then charge the remaining to my credit card . That way no fees to exchange coins
- redwall_hp 3y agoCash also incentivizes violent crime. Muggings have trended down since people have predominantly stopped carrying cash. It's a win for businesses as well, because payroll for managing tills and the cost of armored couriers is expensive. Cash is a liability. Also, having credit is far preferable to worrying about day to day liquidity. It's not like you can cash stocks out or shift money from savings accounts in minutes if you have an unexpected expense.