Modern Independence

Everyone is very quick to adopt things today. Any new tech your average person will gobble up and consume with no real thought, no consideration of the applications of the tech, or what it costs, just to stay “updated” current or with the times.

This sort of behaviour is evident in other areas of life, and is noticeable to me with people’s gusto adoption of cash free payments. Contactless, apple pay, etc. Seeing people use cash may be an ick to some, or a sign that you are, God forbid, behind the times. 

But there are some very important benefits of using cash, and I think that going back to using cash not only reaps these benefits, but also allows for you to have a potential mindset shift to how you operate in other walks of life.

Anonymity 

Using cash gives you far greater anonymity than any other method. The only traceability that you were somewhere buying something is CCTV. Which I would not be concerned about unless you’re doing something illegal. The illegal dealings in cash are being used as a scaremongering tactic to make people associate cash with crime. It’s nonsense, and just because I have nothing to hide, it does not mean I want everyone snooping on what I do.

Supports local business 

Most card readers charge a flat rate per payment processed, as well as a percentage on top. The machines themselves cost money, and some have monthly fees for using it. 

So if you were to go into a local independent business or shop, and spend $50 with them, on card, they will not see all of that 50. Whatever is left will still get taxed as well.

Whereas if you paid by cash, we’ll they will get taxed on it still but there will not be a nice chunk taken out with every purchase with the card payment company. 

Now you might not care about local businesses, but it’s worth taking into account that these are not big soul-less corporations, who exploit people for profit, commit crimes in impoverished countries, or have CEO’s and executives on the flight list to naughty island. These are independent business, trying to make a living to support themselves and their family. It’s a good use of my money and custom if you ask me.

Emergencies 

People, that I know at least, haven’t just gone so far as to not carry cash, but also not carry their debit or credit card. They just use their cards on their phone. Thats all well and good, until you lose your phone. Or your phone battery dies, or you have your card, but your bank has decided your poor and found your £60 purchase at mountain warehouse suspicious and blocked your card. 

How do you get home? How do you catch the bus, taxi, train, or pay for parking so you can get out? Get yourself some food and water if your stuck in a broken down car with no battery?

Cash. Carry cash. Problem solved.

The list of reasons to carry cash could go on, with smaller reasons which may be more personal, or nuanced. But the mindset shift from adopting cash again I think pays dividends. 

It encourages you to slow down. Take time to visit stores. Go into the local town and high street to buy stuff, even if it is a chain store. It encourages you to be more mindful of your spending. In real time you see your money decrease in your wallet or purse with every purchase. 

You have a greater appreciation for your own privacy, and controlling your information and what is available to people to use to market to you. 

Cash is king for a reason, and one question you have to ask yourself, is with all of the benefits of using and carrying cash, why would people try to influence you to not use it?