Should we get rid of cash?

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13

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  • dme1977
    dme1977 Posts: 537 Member
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    why would you want to put the banks :devil: and government :devil: in control of ALL your $$$ ??? NOT ME! :noway:
    personally I like the ole fashioned smell and feel of money...( even if it HAS been in a strippers crack):tongue:
    same as I LOVE books...ya know the kind with PAGES in them. :love:
    Geeze, what the world is coming to... :sad:
  • AllanMisner
    AllanMisner Posts: 4,140 Member
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    We had a big honking solar flare today. Do you want all of your money in electronic format that could go poof? And yes, every single transaction you make would be completely documented and potentially available to the government, hackers, advertisers, etc.
  • mommared53
    mommared53 Posts: 9,543 Member
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    Everybody should get rid of their cash as soon as possible. Quick! Send it to me and I'll dispose of it for you.
  • Hartman1986
    Hartman1986 Posts: 45 Member
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    I've never trusted banks, to protect my money. They make a stupid decision or get hacked, poor my money is gone. While the government does insure the deposits, I don't trust them to always be there. I'll stick to cash, thank you.
  • ColCul
    ColCul Posts: 53
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    Bedford, Nova Scotia, no debit, some sort of fast pass if you have Mastercard which I don't, so I need cash. Must be different rules for us Maritimers. Figures.

    Ever try to use an ATM in another country? Not easy. I don't carry much cash, except for kid's allowances (funny, the kids won't accept my cheques, so distrustful). And I live in Canada, Tim Horton's doesn't accept Debit or Credit cards. Sigh, I need my Tim's.

    You must have a special Timmy's. I live in Canada, too and use my debit card at Tim's all the time.
  • parys1
    parys1 Posts: 2,072 Member
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    Bedford, Nova Scotia, no debit, some sort of fast pass if you have Mastercard which I don't, so I need cash. Must be different rules for us Maritimers. Figures.

    Ever try to use an ATM in another country? Not easy. I don't carry much cash, except for kid's allowances (funny, the kids won't accept my cheques, so distrustful). And I live in Canada, Tim Horton's doesn't accept Debit or Credit cards. Sigh, I need my Tim's.

    You must have a special Timmy's. I live in Canada, too and use my debit card at Tim's all the time.

    Ours have those fast pass thingamajigs, too, but we can use regular debit as well. (In Alberta)
  • Tybalt71
    Tybalt71 Posts: 1,081 Member
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    I cant eat those they are too cute, wha telse you got? a twin sister?

    Sister, yes...twin, no...curses...

    Hey Laura...I have a sister..wonder if she'd mind if we offered her?
    *raises eyebrow*
  • ninerbuff
    ninerbuff Posts: 48,701 Member
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    I don't think it's a good idea. We would be giving up more of our privacy.
    We could also stop things like illegal money transactions (drugs and imports for example). I don't think we'd give up any more privacy than we do now. Practically half of our transactions are done by credit/debit now.

    A.C.E. Certified Personal Trainer
    IDEA Fitness member
    Kickboxing Certified Instructor
    Been in fitness for 28+ years and have studied kinesiology and nutrition
  • ninerbuff
    ninerbuff Posts: 48,701 Member
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    Abolishing cash....not even a little bit on board with it for a myriad of reasons:

    1. Look at the issue from a lower socioeconomic standpoint....what happens to the people that do not have access to banks whether it be to due to transportation issues or even access to the internet which many people do their banking on right now.
    Good point and brought up on the show. Response was that like mini marts, there would be more "transaction kiosks" in areas.
    2. What about people that understand the concept of cash but unable to balance what they have in the bank. I have worked with many children in special education that could figure out how to count money however to balance a checkbook may be overwhelming and they may need assistance.
    This was a legitimate concern. For many, having cash in hand meant they spent less than if they charged it. So it may cause a problem by overextending.
    3. What on earth is the toothfairy going to leave...a debit card??? Really, what a shame that would be.
    It doesn't have to be money anymore. Kids that age can be told any story.
    4. Also from my understanding we spend less money when working in cash than credit or debit cards.
    True.
    5. Often when we travel across different currancy formats the exchange rate is not as good when using credit cards.
    Really? When I went to the Philippines I didn't have that issue. I guess it's different country to country.
    6. How much money is skimmed electronically per year off of credit or debit cards as well as identity theft..is it more than cash stolen...I don't know, just a question, I would think that theft would become even higher.
    But if it switched then banking institutions would have to have better security measures than they do now. At least if your bank account gets compromised, you do have the chance to still recover when with cash your SOL.
    7. Oh ya also some people have issues using credit/debit cards because they often track buying patterns and people have "big brother" issues and don't want companies or the government to track buying habits.
    Policy can be made to make it illegal.
    I can actually come up with many more reasons not to abolish cash, but honestly I am tired.....in saying all this I almost never have cash on me:-P I much prefer to use my debit card. But when we look at other populations, we have to see what might be good for them as well.
    This is a great discussion. Keep it coming.

    A.C.E. Certified Personal Trainer
    IDEA Fitness member
    Kickboxing Certified Instructor
    Been in fitness for 28+ years and have studied kinesiology and nutrition
  • LauraMacNCheese
    LauraMacNCheese Posts: 7,198 Member
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    I cant eat those they are too cute, wha telse you got? a twin sister?

    Sister, yes...twin, no...curses...

    Hey Laura...I have a sister..wonder if she'd mind if we offered her?
    *raises eyebrow*

    Ladies...I think we have a nibble :bigsmile:
  • Ocarina
    Ocarina Posts: 1,550 Member
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    I think getting rid of cash is a bad idea. It's the blood flow of the economy and the quickest most efficient way to trade. (IMO) Plus we have cash so we don't have to affiliate with banks all the time. Without cash what would the bank provide you in the form of a withdrawal? (Even though I think it's bad for the economy not to utilize banks)

    I don't use cold hard cash anymore like a lot of people but there is still a huge chunk of the population that will. For people, cash is the #1 guarantee they have money in their hand. Debit cards/credit cards/checks/money orders can all fail and there is a waiting period for the money to come through. Debit is the closest to cash of course but you still have to go through the extra bs of running it through a card reader to get it to work. Cash you pass from one hand to the other and its a done deal.

    Plus the other beauty of cash it is is SO QUICK to get rid of and the fastest way to get what you want.

    The thing that sucks about cash is it has NO paper trail and it's horrible to carry around. I can see why anyone would want to get rid of it but I think the benefits outweigh the cons.
  • Bonita_Lynne_58
    Bonita_Lynne_58 Posts: 2,845 Member
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    I cant eat those they are too cute, wha telse you got? a twin sister?

    Sister, yes...twin, no...curses...

    Hey Laura...I have a sister..wonder if she'd mind if we offered her?
    *raises eyebrow*

    Ladies...I think we have a nibble :bigsmile:

    Nibble sounds......erotic? Oh my...did I really say that out loud?:blushing:
  • i_love_vinegar
    i_love_vinegar Posts: 2,092 Member
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    Loitering (i do NOT do this, neither does anyone i know) + SAFETY issues (I would feel better having cash stolen from me than my entire checkings/savings...and if everyone used cards, I bet a lot more cashiers would be lenient in checking ID. They already are for the most part. Even signatures...I can draw a picture and most nobody will bat an eye lol).

    America shouldn't be printing more money anyway...(meaning it is a bit too late to think of an alternative, because the more they print, the deeper we sink -- of course not printing, and using emoney would still have the same negative outcome...the point is it is in our best interest to not make any more money -- independent of form). That is part of what got us into trouble (and of course the reasoning behind the overprinting).

    I'm sure there are more problems than I mentioned, but those are just a couple ones that came to mind off-the-bat.
  • i_love_vinegar
    i_love_vinegar Posts: 2,092 Member
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    I've never trusted banks, to protect my money. They make a stupid decision or get hacked, poor my money is gone. While the government does insure the deposits, I don't trust them to always be there. I'll stick to cash, thank you.

    PS: This is also a very good point. Wasn't it The Stock Market Crash of 1929 where people were lined up outside banks trying to take out their savings? A lot of people lost all the money to their names. From my understanding (I'm not 100% certain), if a bank declares bankruptcy, by law, they do not have to return your money that they lost (or spent). A bank is a business, and the same goes for businesses. If you put in an order online and the company files bankruptcy, while a good company will return your money or ship your order, all their previous duties are forgiven and forgotten.
  • almonds1
    almonds1 Posts: 642 Member
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    i don't want to go to a strip club and slip checks in the girls cleavage. lol.

    They have a slot for swiping your atm card.

    Hehe! Yeah we do...
    HAHAHAHAHAHAH

    And do they charge 20% on each dollar you take out like most strip clubs? So I hear ;)
  • TheRoadDog
    TheRoadDog Posts: 11,788 Member
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    I listen to talk radio alot and recently on a show I listened to an author speaking about abolishing cash and the advantages and disadvantages to it.
    A couple of advantages would be that banks can't get physically robbed if paper money no longer existed and counterfeiting would halt altogether saving many merchants from losing merchandise to counterfeits.
    But a couple of disadvantages would be issues with tipping (like a cab driver or bellman) and emergency use of cash incase you lost a credit or debit card.

    So what are your opinions?

    A.C.E. Certified Personal Trainer
    IDEA Fitness member
    Kickboxing Certified Instructor
    Been in fitness for 28+ years and have studied kinesiology and nutrition


    Except for grocery shopping, I almost always pay cash. When I run out of cash (which is spending money I budgeted for) I stop spending, Rarely use Credit Card or Debit cards. One of the reasons I am not in debt is because I don't spend money I don't have.

    Plastic makes it too easy to not pay attention what you are spending.

    As for counterfeiting and bank robbery, don't you watch the news? High Tech crime is big business. Criminals love to conterfeit Debit and Credit cards. They rob your bank all the time. At least when a bank robber sticks up the bank, the bank deals with the loss via insurance. When high tech robbers hack into your account, YOU deal with it. Maybe the bank will absorb the loss eventually, but YOU will deal with the initial forfeiture and a great deal of the aftermath.

    And, as someone already mentioned, how am I going to tip Tiffany and Stormy at the Wild Orchid?
  • dme1977
    dme1977 Posts: 537 Member
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    Except for grocery shopping, I almost always pay cash. When I run out of cash (which is spending money I budgeted for) I stop spending, Rarely use Credit Card or Debit cards. One of the reasons I am not in debt is because I don't spend money I don't have.

    Plastic makes it too easy to not pay attention what you are spending.

    As for counterfeiting and bank robbery, don't you watch the news? High Tech crime is big business. Criminals love to conterfeit Debit and Credit cards. They rob your bank all the time. At least when a bank robber sticks up the bank, the bank deals with the loss via insurance. When high tech robbers hack into your account, YOU deal with it. Maybe the bank will absorb the loss eventually, but YOU will deal with the initial forfeiture and a great deal of the aftermath.

    And, as someone already mentioned, how am I going to tip Tiffany and Stormy at the Wild Orchid?

    couldnt AGREE with you more. Im the same way...
    although tipping a stripper in my case is unnecessary because i take my OWN clothes off all the time and dont feel the need to put $ in my undergarments so why would I give my money to someone else who does the same thing.....:laugh: :laugh: :laugh:
  • DMZ_1
    DMZ_1 Posts: 2,889 Member
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    The recession is in effect doing that, making a lot of people poorer. :frown:

    All jokes aside, money in the form of cash should stay.
  • cekeys
    cekeys Posts: 397 Member
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    There have been many many many studies that conclude that people spend more when using cards vs cash. Mcdonalds discovered somewhere in the realm of a 50% increase when they offered to pay with CC's.

    There is an emotional connection to cash & when people spend it, they register it as pain. Imagine going to buy a piece of furniture for $500 or even groceries. You feel it when you're laying down those $100s or $20s. When you just swipe a card, it doens't register in the same way or intensity.
  • EmCarroll1990
    EmCarroll1990 Posts: 2,849 Member
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    I much prefer using cash than plastic. With cash you get that physical view of what and how much you're spending. With plastic you don't really get that "visual."

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