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Do you use cash much?

135

Comments

  • #62
    retalivity
    Registered Users, Registered Users 2, Paid Member Posts: 15,842 ✭✭✭✭retalivity


    I try to use cash as much as possible. I work in IT and finance, i can see what they are trying to do and what my job entails, its scary!!


  • #63
    dxhound2005
    Registered Users, Registered Users 2, Paid Member Posts: 24,784 ✭✭✭✭dxhound2005


    seamus wrote: »
    Think of it more like you're wandering past a shop and you think of something you'd like to buy but you don't really need.

    It's fifty quid, and sure you've sixty in your pocket, so why not.

    In the scenarios you describe where you're going in to buy something specific, then it doesn't matter what's in your pocket. You buy what you came to buy either way.

    But for me, money i mo phóca is more likely to result in impulse buys.

    A bit off topic, but the opposite of that is online shopping. Apparently Christmas morning is one of the busiest days. And I suspect that not every item ordered, is something which is essential. No matter how much cash you have in your pocket, you need a card for that.


  • #64
    Stephen15
    Closed Accounts Posts: 7,905 ✭✭✭Stephen15


    Mostly use cash myself. Find it's easier to control your spending when using using it


  • #65
    Amirani
    Moderators, Society & Culture Moderators Posts: 12,622 Mod ✭✭✭✭Amirani


    cdeb wrote: »
    You can track your spending, sure.

    But I wonder does anyone actually do it at a granular level? Genuinely.

    Yeah, I check my online banking transactions every day. Also have all my financial planning and transactions in a smart Google doc that I have set up.

    Paying with cash messes with my analysis and requires manual inputs that are annoying.


  • #66
    dxhound2005
    Registered Users, Registered Users 2, Paid Member Posts: 24,784 ✭✭✭✭dxhound2005


    Amirani wrote: »
    Yeah, I check my online banking transactions every day. Also have all my financial planning and transactions in a smart Google doc that I have set up.

    Paying with cash messes with my analysis and requires manual inputs that are annoying.

    Use Bitcoin. That's far simpler:)


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  • #67
    lbc2019
    Closed Accounts Posts: 2,291 ✭✭✭lbc2019


    biko wrote: »
    Some banks, like Permanent TSB, will punish their customers by charging "cash advance fee" when the customers withdraw cash using the credit card.

    This is to force you towards card only, which suits the banks best.

    www.google.com/search?q=cash+advance+fee+site%3A.ie

    It is cash on credit tbf.


  • #68
    seamus
    Registered Users, Registered Users 2 Posts: 68,173 ✭✭✭✭seamus


    my3cents wrote: »
    Thats a good argument but if you are spending only cash then you can't spend money you haven't got in your hand. With a card its not always money you have in your account.
    One's relationship with money is a very individual thing though.

    For some people the card is a problem because money unseen is money easily spent. Whereas they find it easier to budget the money that's in their hand.

    I'm the opposite. It's the unseen nature of the card that discourages spending. Because I like to know what I have, the idea of closing your eyes and hoping the card works seems anathema to me.
    A bit like those people who close their eyes when trying to squeeze through a gap between cars. I can't do that. If I don't know, I don't do it.


  • #69
    Murt10
    Registered Users, Registered Users 2 Posts: 1,218 ✭✭✭Murt10


    If you want to be careful about how much you spend, or cut down on what you spend, then cash is the way to go.

    Numerous studies have shown that people will spend far more when using a credit/debit card, than they will when paying with hard cash. It's much more painful and real that way.

    Cash is always real, not something abstract in a far away bank account that you can worry about later. Your instincts are telling you to spend now.


    https://www.forbes.com/sites/billhardekopf/2018/07/16/do-people-really-spend-more-with-credit-cards/#79e4ddf71c19


  • #70
    my3cents
    Closed Accounts Posts: 9,762 ✭✭✭my3cents


    seamus wrote: »
    One's relationship with money is a very individual thing though.

    For some people the card is a problem because money unseen is money easily spent. Whereas they find it easier to budget the money that's in their hand.

    I'm the opposite. It's the unseen nature of the card that discourages spending. Because I like to know what I have, the idea of closing your eyes and hoping the card works seems anathema to me.
    A bit like those people who close their eyes when trying to squeeze through a gap between cars. I can't do that. If I don't know, I don't do it.

    While I agree I do wonder what will happen when we eventually get a generation that has never had cash?

    I think for a lot of people handling cash gives them a sense of its worth making them less likely to go mad with a credit card. So I wonder if the same people would give money the same value if they have never seen or used physical money.

    Going back in time I can remember being paid cash each week. Its very obvious what you can and can't afford when you can see exactly what you have. If you then go on to pay some of that money into a bank I'm sure you must have a different "relationship" with it compared to someone who has their money credited to their account each month.


  • #71
    lbc2019
    Closed Accounts Posts: 2,291 ✭✭✭lbc2019


    Murt10 wrote: »
    If you want to be careful about how much you spend, or cut down on what you spend, then cash is the way to go.

    Numerous studies have shown that people will spend far more when using a credit/debit card, than they will when paying with hard cash. It's much more painful and real that way.

    Cash is always real, not something abstract in a far away bank account that you can worry about later. Your instincts are telling you to spend now.


    https://www.forbes.com/sites/billhardekopf/2018/07/16/do-people-really-spend-more-with-credit-cards/#79e4ddf71c19

    That article is about Credit Cards tbf


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  • #72
    cdeb
    Moderators, Sports Moderators Posts: 7,666 Mod ✭✭✭✭cdeb


    It's the same concept though.


  • #73
    cdeb
    Moderators, Sports Moderators Posts: 7,666 Mod ✭✭✭✭cdeb


    retalivity wrote: »
    I try to use cash as much as possible. I work in IT and finance, i can see what they are trying to do and what my job entails, its scary!!
    I'm intrigued, and yet I get the feeling I shouldn't ask...?


  • #74
    Sonny noggs
    Closed Accounts Posts: 1,523 ✭✭✭Sonny noggs


    A year ago I used cash for all shop / restaurant / fast food / pub payments, now Revolut for all of above. I still carry cash but use cash once or twice a month at most.


  • #75
    jcorr
    Closed Accounts Posts: 232 ✭✭jcorr


    I used to always use cash. I would always have at least twenty euro in the wallet

    But now my wallet is empty...just like me. Lol.


  • #76
    Franz Von Peppercorn II
    Closed Accounts Posts: 2,398 ✭✭✭Franz Von Peppercorn II


    dxhound2005 wrote: »
    Use Bitcoin. That's far simpler:)

    Bitcoin isn’t a currency so it’s really simpler. You can’t use it in most shops.


  • #77
    jcorr
    Closed Accounts Posts: 232 ✭✭jcorr


    cdeb wrote: »
    I'm intrigued, and yet I get the feeling I shouldn't ask...?

    How does he work in both of those at the same time is what I want to Know


  • #78
    ytpe2r5bxkn0c1
    Closed Accounts Posts: 32,688 ✭✭✭✭ytpe2r5bxkn0c1


    Mostly cash. I'd always have €150 to €200 in my wallet. Although the debit card is always to hand in case of larger purchases. I just find cash more convenient.


  • #79
    jcorr
    Closed Accounts Posts: 232 ✭✭jcorr


    Ariah Wooden Slope wrote: »
    Mostly cash. I'd always have €150 to €200 in my wallet. Although the debit card is always to hand in case of larger purchases. I just find cash more convenient.

    How often then would you go to the hole in the wall?


  • #80
    Neames
    Registered Users, Registered Users 2 Posts: 967 ✭✭✭Neames


    cdeb wrote: »
    Anyone else intrigued as to what injury that could possible be? :)

    Severe paper cut.


  • #81
    lbc2019
    Closed Accounts Posts: 2,291 ✭✭✭lbc2019


    cdeb wrote: »
    It's the same concept though.

    Not really. Credit is money you dont have- debit card is money in your bank account


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  • #82
    cdeb
    Moderators, Sports Moderators Posts: 7,666 Mod ✭✭✭✭cdeb


    That's not the point though. Cash is physically handing over money. A card is just a piece of plastic. The latter has a proven disconnect with actual spend, so you tend to spend more with it, whether it's debit card, credit card, tap, phone, whatever.


  • #83
    Still waters
    Registered Users, Registered Users 2 Posts: 1,164 ✭✭✭Still waters


    I get paid a lot of cash from clients so its cash mostly for me, I'm not fussy tho, if I get a run of work where im being paid by bank transfer/cheque I'll use the card


  • #84
    lbc2019
    Closed Accounts Posts: 2,291 ✭✭✭lbc2019


    cdeb wrote: »
    That's not the point though. Cash is physically handing over money. A card is just a piece of plastic. The latter has a proven disconnect with actual spend, so you tend to spend more with it, whether it's debit card, credit card, tap, phone, whatever.

    Still prefer cashless


  • #85
    Dr.Sanchez
    Closed Accounts Posts: 675 ✭✭✭Dr.Sanchez


    Never use cash, I use Revolut for everything except direct debits and savings.


  • #86
    OldMrBrennan83
    Closed Accounts Posts: 26,611 ✭✭✭✭OldMrBrennan83


    Never carry cash bar a coin for a shopping trolley. If they only take cash, I don't buy it.


  • #87
    cdeb
    Moderators, Sports Moderators Posts: 7,666 Mod ✭✭✭✭cdeb


    lbc2019 wrote: »
    Still prefer cashless
    Entirely up to you of course.

    But I think the link between cashless and extra spending - particularly impulse spending - is well proven at this stage.

    Plus, if the banks want to push you towards it, I'm immediately suspicious!


  • #88
    ytpe2r5bxkn0c1
    Closed Accounts Posts: 32,688 ✭✭✭✭ytpe2r5bxkn0c1


    jcorr wrote: »
    How often then would you go to the hole in the wall?

    Usually, once a week. Occasionally twice.


  • #89
    OldMrBrennan83
    Closed Accounts Posts: 26,611 ✭✭✭✭OldMrBrennan83


    cdeb wrote: »
    Entirely up to you of course.

    But I think the link between cashless and extra spending - particularly impulse spending - is well proven at this stage.

    Plus, if the banks want to push you towards it, I'm immediately suspicious!

    That's for weak people though. It's like someone blaming Supermacs for making them fat, a card doesn't make you spend more unless you're a total eejit altogether.


  • #90
    Nikki Sixx
    Closed Accounts Posts: 424 ✭✭Nikki Sixx


    I’d imagine the tradesmen of Ireland would be fcuked if we ever went cashless. Tax avoidance is huge over here. Your tradesman will have a “cash price” on a job.


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  • #91
    cookie1977
    Registered Users, Registered Users 2 Posts: 6,794 ✭✭✭cookie1977


    I use my credit card connected to google pay 99% of the time and even bemoan when I have to take my credit card our to use the pin. I hardly ever use cash.


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