Cashless Society

[pkveazey]

I've been watching some of the economic gurus on You Tube and I keep hearing phrases like, "Cashless Society". I didn't discount what they said or what their reasoning was. However, I do like to observe what is going on just to verify the Bullshit from the truth. Hmmmmm….. I went to Subway today and they had a sign at the cash register that said they prefered that customers use Credit Cards, Debt Cards, Their Phone Apps to pay for food and not use cash. Hmmmm… That was a very good confirmation of what is to come in the coming crash. How did I pay for my stuff? I handed them a damn $20 bill. Screw those SOB's. When it all goes to crap, I plan to operate outside the system with Gold, Silver, and Barter. If I don't like the guy who owns the football, I just don't play.

[JoJo]

 We pay cash or check for almost everything. Plastic is used for Gas and on line buying.

[JohnyMac]

I saw some talking heads the other day on the boob tube and their position was,

1) Use cards as they are cleaner, and
2) People should not take money out of the bank and "horde" it.

When supposedly smart people say "don't take your money out of the bank" that means to run fast to the bank and take out as much makes sense.

[JoJo]

When supposedly smart people say "don't take your money out of the bank" that means to run fast to the bank and take out as much makes sense.

 I would take a guess that smart people have already done that.

[pkveazey]

Here is something to ponder. By the way, I didn't come up with this, one of the economic Gurus did. I paid off all my debt and every month I pay off my credit card so I don't have to pay any interest. Here is the problem with variable rate debt: The interest rate can change to any amount with just 30 days notice. If you keep a high balance, you can't just pay it all off at one time and then you get stuck with the super high new rate.

I have a reasonable credit card rate. It was about 10% annual rate but they notified me that it was going to go up to about 12.5%. Well screw that..... I just paid the card off and now I pay 0% interest each month. They can raise it to 300% if they want to but I will pay off my small balance each month and they get NOTHING.

I don't like leaving a privacy invading paper trail so I try to pay cash for everything except Gas and Amazon purchases. Why Amazon? Well, they carry everything under the sun that I might want and I refuse to use my credit card on line. OK... I had to use it for Amazon but I keep it to just one company.

[Kbop]

I use cash when and where possible.  I don't think i've written a check in years.  My wife uses checks for her business, though.
i keep two credit cards - one for online transactions and one for in person transactions.  I try and make sure they don't stay in the same place at the same time.
Its a carry over from when i traveled a lot.

As Pkveazey mentioned - i pay them off every month to keep my running costs down.