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’m nor a cash-only convert, but I have some anecdotal evidence for you.
I’ve visited Boston five times in the past thirty years. Every single time I used my debit card at Thanuel Hall for food, my card was later used for fraud. Always caught and never a big inconvenience beyond replacing my card, but still not ideal. I only ever use cash there now.
Online shopping, before the Amazon monopoly on e-commerce, my card would get compromised every few months.
Now I use privacy.com for all transactions that allow it, and its amazing how often those cards are stolen. Thanks to the way the service works, the stolen cards are useless to scammers or thieves, but my declined transaction filter has a few charges declined each month.
My point being that if you want to avoid fraud, and you can do it, cash is king.
Yeah I always use throwaway cards from my bank online, game changer. Even if just free trials so they can’t charge me if I accidentally don’t cancel