Some people believe that in some time soon we will use our credit cards to pay for absolutely everything and cash will not be used again. Others think that will happen around the same time that people start driving around in space cars, or when we have domesticated robot maids to clean our homes and make our meals. However even if cash is always available, it is possible not to use it in our day to day lives.
Think about your daily routine. When you get gas, almost every gas station has a pay at the pump option. Also supermarkets, shops and restaurants have card terminals attached to their retail cash register. You can even pay at a drive through window for fast food using a card. It does seem possible that you could get through most days without needing cash as you can use debit and credit cards in most places.
As with any choice there are advantages associated with going “cashless” or not, as well as disadvantages. Using cash requires an in person transaction at the retail cash register. cash is stolen very easily and you cannot use it to buy things on the phone or over the internet. However you do have the advantage of anonymity with cash whereas some of your personal details are given to the vendor when you pay with card. Privacy is a concern, and using plastic means there is a chance for fraud or identity theft.
one major problem with cards is over-spend. When you do not physically give your cash to someone, it is easier to buy more expensive things.
Deciding whether to carry cash or go “cashless” is a personal decision for now, as we still have the ability to use both. One cannot say for definite if we will ever be forced to stop using cash but the credit card companies enjoy the fact that we use them more and more in society. Until then, become familiar with the advantages and disadvantages of each option, and decide which will work for your personal financial habits and discipline.
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