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Some other nice things about cash: - It's useful with children. A concrete representation of value is tangible compared to an abstract number in a bank account

Some other nice things about cash: - It's useful with children. A concrete representation of value is tangible compared to an abstract number in a bank account. - It's great for gifts - It's harder to refuse: I've had a restaurant make a mistake and then refuse to charge me. I left cash on the table when I left.

lxgr 2y ago
> It's useful with children. A concrete representation of value is tangible compared to an abstract number in a bank account. I hear this often, but I'm not at all convinced it's true. And even if it were: Children will eventually grow up and have to manage their non-cash finances at some point. Why not teach them early? I've had a checking account and debit card since I was 10 years old, and subjectively this has only contributed to being able to treat "abstract" and physical money as exactly the same from a budgeting point of view. > It's great for gifts For in-person gifts. Sending it in the mail is usually a bad idea, as I've personally experienced too often in my life. Also, at least in the US, there seems to be some weird stigma against cash gifts that's created a huge industry of Visa/Mastercard gift cards with horrendous fees and a high chance of falling victim to some kind of scam.
- gwbas1c 2y ago
  > I've had a checking account and debit card since I was 10 years old I dare you to teach a 4 or 5 year old to use one!
  - lxgr 2y ago
    Do you think they'd fare much better with budgeting physical cash?
    - rcdemski 2y ago
      I certainly didn’t. I remember getting cash as a young child, thinking with $20 I was “rich”, and rapidly blowing it on Sim City. I only understood the value of money once I both had a bank account and a job that funded it.
      - CalRobert 2y ago
        Sim City isn't a bad way to spend $20 in fairness
    - gwbas1c 2y ago
      You don't have kids, do you? Addition and subtraction are abstract concepts that are learned around age 5-6. It starts with tangible objects, pictures, ect. Cash is a tangible object that helps teach the concept.

lxgr 2y ago

> It's useful with children. A concrete representation of value is tangible compared to an abstract number in a bank account. I hear this often, but I'm not at all convinced it's true. And even if it were: Children will eventually grow up and have to manage their non-cash finances at some point. Why not teach them early? I've had a checking account and debit card since I was 10 years old, and subjectively this has only contributed to being able to treat "abstract" and physical money as exactly the same from a budgeting point of view. > It's great for gifts For in-person gifts. Sending it in the mail is usually a bad idea, as I've personally experienced too often in my life. Also, at least in the US, there seems to be some weird stigma against cash gifts that's created a huge industry of Visa/Mastercard gift cards with horrendous fees and a high chance of falling victim to some kind of scam.

gwbas1c 2y ago
> I've had a checking account and debit card since I was 10 years old I dare you to teach a 4 or 5 year old to use one!
- lxgr 2y ago
  Do you think they'd fare much better with budgeting physical cash?
  - rcdemski 2y ago
    I certainly didn’t. I remember getting cash as a young child, thinking with $20 I was “rich”, and rapidly blowing it on Sim City. I only understood the value of money once I both had a bank account and a job that funded it.
    - CalRobert 2y ago
      Sim City isn't a bad way to spend $20 in fairness
  - gwbas1c 2y ago
    You don't have kids, do you? Addition and subtraction are abstract concepts that are learned around age 5-6. It starts with tangible objects, pictures, ect. Cash is a tangible object that helps teach the concept.