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?
Yes, even the buses and vending machines and car park meters and public toilets have tap to pay. It is certainly very convenient but I think it does encourage spending more, and of course it means literally everything you do is tracked. Luckily I’ve found that most places still do accept cash but there are definitely a few who don’t.
Breaking into those machines and robbing cashless shops also doesn’t have the incentive of immediate cash reward.