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By (user no longer on site)
over a year ago
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"Would this virus be a fortunate circumstance that could lead to the end of cash (paper money and coinage)?"
It's definitely going to mean the end of cash for a lot of poor people  |
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By (user no longer on site)
over a year ago
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"Would this virus be a fortunate circumstance that could lead to the end of cash (paper money and coinage)?"
I think it will lead to the end of a lot of stuff. A traditional appointment to see your GP will be another... |
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Was in decline anyway. The current situation has just substantially sped it up. Pubs were also on the decline.
Wheels are still very much in motion. It could be the end of work as we know it.
There's certainly a need to re-evaluate the political mantra of economic growth being the answer to all our problems. Which brings us back to the end of money. |
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By (user no longer on site) OP
over a year ago
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"Starting to struggle as I get paid in cash, but then can't bank it or spend it!"
I use the self checkouts at supermarkets to dispose of cash.
Its possible that many retail outlets other than supermarkets will now go down the self checkout route. If there is a cash option on the machine then it would not be a problem.
Any Government would like to see the end of cash as it fuels the so called Black Economy. |
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By *ooljoeMan
over a year ago
Harrogate |
Cash won't be stopped anytime soon .Alot of people prefer cash as it helps them limit careless spending.if you got £20 in your pocket to spend for the day then you plan.Card/ contactless means easy access to spending 24/7 resulting to over spending. Petty traders,elderly, poor and vending machine operators would prefer cash. |
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By (user no longer on site)
over a year ago
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"Cash won't be stopped anytime soon .Alot of people prefer cash as it helps them limit careless spending.if you got £20 in your pocket to spend for the day then you plan.Card/ contactless means easy access to spending 24/7 resulting to over spending. Petty traders,elderly, poor and vending machine operators would prefer cash."
I still use cash for this exact reason. Far easier to keep track. |
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By (user no longer on site)
over a year ago
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"Starting to struggle as I get paid in cash, but then can't bank it or spend it!"
Banks are still open. Many have outside machines to pay in cash. Shops still accept cash!! |
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By (user no longer on site)
over a year ago
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"There's certainly a need to re-evaluate the political mantra of economic growth being the answer to all our problems. Which brings us back to the end of money. "
Capitalism in it's current manifestation is predicated on continuous economic growth, the aim being to provide 'shareholder value'. Anyone with even a passing knowledge of economics knows that it isn't sustainable, hence we had the economic crash of 2008, city traders and bankers know it isn't sustainable either so they look at everything in the short term, looking to make as much money as possible then insulate themselves from the inevitable crash.
While we continue on that path we are going to have some sort of financial meltdown on a regular basis, whether it is triggered by the markets or a pandemic.
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By (user no longer on site)
over a year ago
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"Cash won't be stopped anytime soon .Alot of people prefer cash as it helps them limit careless spending.if you got £20 in your pocket to spend for the day then you plan.Card/ contactless means easy access to spending 24/7 resulting to over spending. Petty traders,elderly, poor and vending machine operators would prefer cash."
I think if it ends it wont be the consumers choice though, doesn't matter what you prefer if banks atop printing it and shops stop accepting it |
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"There's certainly a need to re-evaluate the political mantra of economic growth being the answer to all our problems. Which brings us back to the end of money.
Capitalism in it's current manifestation is predicated on continuous economic growth, the aim being to provide 'shareholder value'. Anyone with even a passing knowledge of economics knows that it isn't sustainable, hence we had the economic crash of 2008, city traders and bankers know it isn't sustainable either so they look at everything in the short term, looking to make as much money as possible then insulate themselves from the inevitable crash.
While we continue on that path we are going to have some sort of financial meltdown on a regular basis, whether it is triggered by the markets or a pandemic.
"
Sure boom and bust is an inherent part of capitalism regardless. How can unfettered grown continue within the restraints of the earth's finite resources? With the poorest on the planet always bearing the brunt of fat cat capitalist greed. |
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By *iger4uWoman
over a year ago
In my happy place |
I use self checkout if possible... Get rid of change and dirty notes.
Paid for my shopping and petrol by cash as had recent experience of contactless fraud. So I dont use contactless very often now. |
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By *mmacdheelsTV/TS
over a year ago
France, And sometimes in |
It certainly shows that cash could be done away with but I think too many drawbacks for everyone. And for those that dislike any idea of being watched all of your exact spending is then recorded and accountable. |
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"Cannot see sellers at Car Boot sales having card readers. Cash is King at these sales.
"
Charity shops is a hobby of mine. How long before they and car boots, etc selling second hand and subsequently infected goods, open/start up again? |
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By (user no longer on site)
over a year ago
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Ive had three pounds and some shrapnel in my pocket since I was in Scotland and the shop didn't take Google pay and it will probably still be there next year
Everything gets paid by my watch or CC if it's over the limit. Even an ice cream the other day |
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"Would this virus be a fortunate circumstance that could lead to the end of cash (paper money and coinage)?"
The end of cash would not be a fortunate circumstance for any of us except for the banks. They would be able to add percentage fee's on to all forms of cashless transactions and we the public would be powerless to stop them without a cash alternative |
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By (user no longer on site)
over a year ago
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"Would this virus be a fortunate circumstance that could lead to the end of cash (paper money and coinage)?The end of cash would not be a fortunate circumstance for any of us except for the banks. They would be able to add percentage fee's on to all forms of cashless transactions and we the public would be powerless to stop them without a cash alternative "
Its actually merchants that charge these fees at the moment not banks ... so visa and mastercard
The amount of money a bank could save by not working with cash would be huge (particularly the ones that print currency and therefore have to hold huge deposits with the bank of england to do so) and more than outweigh the additional admin of everything being via card |
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By *rHotNottsMan
over a year ago
Dubai & Nottingham |
"Cash won't be stopped anytime soon .Alot of people prefer cash as it helps them limit careless spending.if you got £20 in your pocket to spend for the day then you plan.Card/ contactless means easy access to spending 24/7 resulting to over spending. Petty traders,elderly, poor and vending machine operators would prefer cash.
I still use cash for this exact reason. Far easier to keep track."
Its the best possible way to budget - cash and pots, on a card it’s so easy to spend outside your budget as all your money is pooled into one pot. We empty our current accounts on day 1 , they are cause of a lot of debt in society. |
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By (user no longer on site)
over a year ago
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"Cash won't be stopped anytime soon .Alot of people prefer cash as it helps them limit careless spending.if you got £20 in your pocket to spend for the day then you plan.Card/ contactless means easy access to spending 24/7 resulting to over spending. Petty traders,elderly, poor and vending machine operators would prefer cash.
I still use cash for this exact reason. Far easier to keep track.
Its the best possible way to budget - cash and pots, on a card it’s so easy to spend outside your budget as all your money is pooled into one pot. We empty our current accounts on day 1 , they are cause of a lot of debt in society. "
We're not all incapable of budgeting or spending within our limits  |
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By (user no longer on site)
over a year ago
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"Cash won't be stopped anytime soon .Alot of people prefer cash as it helps them limit careless spending.if you got £20 in your pocket to spend for the day then you plan.Card/ contactless means easy access to spending 24/7 resulting to over spending. Petty traders,elderly, poor and vending machine operators would prefer cash.
I still use cash for this exact reason. Far easier to keep track.
Its the best possible way to budget - cash and pots, on a card it’s so easy to spend outside your budget as all your money is pooled into one pot. We empty our current accounts on day 1 , they are cause of a lot of debt in society.
We're not all incapable of budgeting or spending within our limits "
Also lots of accounts that let you section your money off into pots now too |
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