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?
I’d love to but since tons of credit cards charge fees to the store, shops increase their prices on menus and items to account for this. On top of the fact that I receive points for purchasing, I’d be losing money if I were to be using cash alone.
why does this stop you from cash? you’re still charged the same
That’s their point, they don’t get a corresponding discount for using cash.
Like Orange said, I’m not getting a discount by using cash. Prices are higher because of credit cards so I might as well use them to get 2 - 5% cashback/discount. Doesn’t sound like much but it leads to hundreds of dollars in a single year for me.
oh i see, i was tired haha. i’ve never used those card benefits much myself
I’m huge in the credit card game with all sorts of cards but it is a privacy I am willing to sacrifice.
You usually are tho. Around here it 3%
Only very few shops in my areas and mostly just local resturants. So yeah, it makes sense to use cash then but it isn’t the norm around here.
maybe even less if he doesn’t buy stuff for same reasons as OP
Depending on the business, some actually charge less if you are upfront on paying cash
I’ve only seen small/local businesses, sometimes big gas chains, give a cash discount so naturally it makes sense to use cash when I can but it is very few shops still.
Yup, but those are exactly the places to use cash and it’s amazing what even some of your meals being in cash and it influencing your budget does to your purchase habits.
I agree fully with using a cash back credit card for the big places and purchases and cash when around town locally.
Kinda feels like I’m doing what my grandparents did but hey it kinda works
This seems like circular logic. The credit card & transaction companies incentivize you to buy more & take a cut every time while attempting to raise the # of cuts they take. Like OP I bet you’d save even more when using cash as you’d buy less.