A cashless society?

It sure does seem like it, I hardly ever see anyone using cash anymore. I have to say I'm guilty as well, although I do always have some pocket cash on me for small purchases. Anyway, I thought it was interesting.

From Apple Pay and Google wallet to bitcoin: The end of cash

"You may be familiar with the phrase “cash is king,” but with cash alternatives like credit cards, PayPal (PYPL), Venmo, Apple Pay (AAPL), Google Wallet (GOOG, GOOGL), and bitcoin flooding the market, the king might be about to lose its crown.
So is this the end of cold, hard cash? Not quite—but we’re getting there.
Last year, a study by Bankrate found that 40 percent of American consumers carried less than $20 in cash on a regular basis. About 9 percent of those surveyed said they didn’t carry cash at all.

According to the Federal Reserve, cash still accounts for 40 percent of all U.S. transactions but only 14 percent of the value of total payments. That means people are still using cash, but mostly for low-cost items like their morning cup of coffee.

Sixty-six percent of consumers use cash for purchases between $0 and $10, but less than 12 percent of consumers use cash for purchases of more than $100..."

https://finance.yahoo.com/news/from-apple-pay-and-google-wallet-to-bitcoin--the-end-of-cash-165532723.html#

That's because people are getting tired of paying cash.
The register girls give you your change by slapping the receipt in your hand first,
then placing the bills on top of that,
then finally they drop a bunch of coins on top of that,
which in the process, half usually fall on the counter or floor

............... It's like, .... What am I a magician here ???

I can't sort the bills into my wallet, put the receipt in the bag,
and put the coins in my pocket, all while I'm carrying 4 bags of groceries

.............. and now you know why you "hardly ever see anyone using cash anymore".

Rick

I was always paying with cash. I couldn't understand people charging $6. on a card. Maybe they know, what I didn't. Last month my card was charged with $16. I didn't use it much and lucky I could pay it off every month. I checked my credit score and it dropped 22 points. I called the credit score company and they told me because I charge so little that's why my points dropped. I told the guy that's crazy, would it go up if I didn't pay the bill. So now I keep using my credit card to see if it goes up. So maybe that's why so many people use credit cards to build up credit.

I like the convenience of cash personally - but it does make sense not to carry TOO much on your person at any time. Limiting risk is always a good idea. One place cash is prolific is in casinos of course. Unless they introduce eftpos / debit at slot machine, cash will continue to be king methinks. The question is, for how long. Enjoy it while it lasts!

LMAO Rock n' Rick that is so true.

I hardly ever use cash . It is a little scary to think how I could be tracked thru what I purchase. I charge because I get free travel with Southwest and I keep my points and platinum status with Total Rewards. The balance is paid in FULL each month.

I also don't "write" out checks almost everything I can't put on Visa gets paid electronically.

It is harder to save for Vegas in the olden days I would throw my change in a jar and when Vegas rolled around I would have 3 or 4 hundred dollars now I save singles and fives and still don't save that much. I also use to save my travelers checks for the next Vegas trip. Alas my bank stopped offering these years ago.

In general, I practically never pay cash for anything. I use my cashback Pay Pal card, and keep the account loaded for bear. I want the "cash back" on everything I spend. I do use some cash for tipping, and that is about the extent of it. I will put every purchase I can on my card, if possible.

Still, I always carry ample cash. My usual pocket money is between $100 - $200. IF going to a casino that day (usually visit 5+ times per week), I take an additional $500 which is in a separate money clip and pocket for my session money.

Old habits die hard. I carry way to much cash, but am very cognizant of my surrounding, etc for safety. And I often "deposit" into my front money casino accounts, since I can get paid by check, and deposit that check online saving a trip to the bank.

HAHA, that is NOT one of the the answers I saw coming at all. That one really came out of left field.

The European Common Market Nations also favor a cashless society. Now that some banks there are paying negative interest, [yes, that does mean a saver must pay the bank to hold his own money], they disapprove of its citizens withdrawing their monies to avoid the fees.

By the way, the concept of negative interest-rates in the USA to stimulate spending are under discussion at the Federal Reserve Bank. In a cashless society one has no choice but to save in a Government-recognized institution and pay any fees required.
Well, technically, the barter system may work, . . . but one needs something to barter.

There are other benefits to going cashless too.

Once the Nation goes totally cashless it will usher in a New World. F'rinstance, one can just imagine that the Government Data centers will record every monetary transaction; and, thereby knowing everyone's interests, be able to care for everyone and provide everything everyone needs. That is the primary purpose of Government nowadays, is it not?
A True Paradise.
Or maybe not, . . . maybe the primary beneficiaries will be The Leaders and their Minions.

My employer thanks you all so much for paying with plastic.

I tend to keep some cash on me but less than $40.

for the last 3 years I had to write checks, now I'm getting back to paying everything online. Much easier and no worry about if you have any stamps.

Not yet for me. I CARRY 1 or 2 Franklins. The credit card and my debit card was HIT last October and I had to go through a lenthy "get yer money back" routine.
It was in 'Vegas,too. Some charges on my Discover card were coming from France and Germany,3 days after my hangover was gone. Nice.(NOT).

Credit card is better to get hacked than the debit card.
Costco/Sam's Club? CASH.Groceries and drive-throughs. Gas? CC.
Casino's cash for gaming but alas,credit card for the room deposit.
Not yet:cashless,but coming to a theater near you!
Bit coins didn't get ahold?

I like Pay Pal and more merchants will accept it. Quite secure,IMO.
Yes,cashless is coming. The credit card companies are getting better with security.
If you are are worried about getting mugged,a gun will NOT help you.
A pipe to the back of your head and they will take your gun as well.
"Give me your wallet" is a different story.
Counting your paper money outside of a Las Vegas casino is no big deal.
Outside of your local places is WAY different.

I need a bigger money clip.