I had two reasons, the first is because i found it way too easy to spend on my card without thinking, and the second because I wanted to regain a bit of privacy alongside everything else I’m doing. Ive set it up in my bank that on payday, an amount of my salary automatically goes to the bills account, some goes to long term savings, some to short term savings, then the rest I take out in cash.
It really does change my perception of spending I think: Ive found myself not buying things because I didnt want to break a note and carry change. I can physically see how much I have left. I can take £20 to the pub and leave when its finished. Plus it feels really good knowing every single transaction isnt stored forever. I have a small amount of money on a contactless ring for emergencies like a bus fare or somewhere that unexpectedly only takes card.
Is anyone else still predominantly using cash day to day?
In the US, I’ve noticed several places, mostly restaurants that now charge a convenience fee for credit card transactions. Double bonus for cash. I’ve even started using checks again as they don’t have a fee.
That’s actually illegal in the UK, to charge a fee for card use. Just means everyone pays more in increased prices, although most people in the UK use card for everything so for the population as a whole its probably a money saver, if not a privacy saving policy.
IIRC that rule applies to debit cards only, which most businesses pay a flat monthly fee to handle, as opposed to credit cards which charge a percentage. Also, fuck AMEX.