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AIBU?

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Original poster

To wonder why so many people don't carry any cash on them?

963 replies

InHibernationTilISummer · 03/03/2018 23:27

Excluding people who are skint and the Queen, obviously.

I've had so many examples of this in the last few weeks:

  • Colleague who came into the work in the bad weather. Lots of delays and problems on the bus route they normally get so wanted to get the train instead but had no money for a ticket because they had come in with their season bus pass and lunch and hadn't expected to be spending any money.
  • Friend turning up for exercise class but hasn't realised that the price has gone up 50p since she last came - and she only brought the exact money she thought she would need.
  • Another friend dropping older child off at sport class finds that there's a fair going on at the sports centre with stalls and activities that her younger child (who was with her) would have enjoyed. Complains that she wishes she had known about it in advance as she would have taken some money out with her.

Is this becoming more common or is it just the people I know? If you aren't skint but don't routinely carry money on you, why is that?

I've been in situations where I haven't expected to be spending any (or much) money and some problem has occurred or plans have changed for some reason (e.g. having to accompany someone to A & E or the last bus not turning up) and I would have been really stuck if I hadn't taken some spare 'emergency' cash.

OP posts:
Bluelonerose · 06/03/2018 07:56

I don't normally have cash in my purse (Thanks kids needing little amounts here and there)
However there's probably £20 in change rolling around the bottom of my bag. Does that count Grin

chicazteca · 06/03/2018 08:41

I never have cash. In fact, I can't wait until the day in which we only have to use our digital print to pay for stuff.

womaninatightspot · 06/03/2018 08:46

I rarely carry cash but do keep change and an emergency 20 quid in the car. Live rurally so drive majority of the time. Better to use card for most things I think.

hereyougosuckmyassforensics · 06/03/2018 08:56

I never carry cash. If I get £10 out say, then spend £6 and the next thing I want to buy in cash costs £5 then I have to take another tenner out - why bother when everywhere takes card?

saoirsesoige · 06/03/2018 09:18

As for "all banking systems never go down", I feel confident in saying many people only have cards with one bank, especially lower-income or prudent people who don't have multiple credit cards

then again, they can just go and take cash out of the atm. It's all the same.

specialsubject · 06/03/2018 09:38

Not if the system is down...

Many different bank brands use the same IT and network, so if you can it is a very good idea to have more than one account on a different system.

JanKind · 06/03/2018 11:44

Cash is sooo yesterday dahling

RidingMyBike · 06/03/2018 20:45

I always carry cash - it’s easier to stick to a budget if you take £x out per week then putting small bits onto a card and then having to check your statement.

MistressDeeCee · 06/03/2018 20:54

I carry a little cash always. & I'm firm on not giving cash to people who get caught short as they find themselves needing cash to get something small from a shop that won't take card payments/not under a certain amount, or for fares. If they never carry cash then they need to have back up plans, and the plan shouldn't be dependent upon someone else having cash

LoniceraJaponica · 06/03/2018 21:15

"it’s easier to stick to a budget if you take £x out per week then putting small bits onto a card and then having to check your statement."

I find that is the case with me as well. I have online banking, but it is a right old faff getting logged in with multiple passwords and a keypad machine to give random pin numbers. So I tend to only check my bank statement once a month.

WhatToDoAboutThis2017 · 06/03/2018 21:32

I find that is the case with me as well. I have online banking, but it is a right old faff getting logged in with multiple passwords and a keypad machine to give random pin numbers.

The keypad machine is a thing of the past; has been for years, at least with my bank. We just need to know a password and customer number and away we go; too difficult for anyone else to get in but takes seconds for me.

I check my bank statement online anywhere from every couple of days to multiple times a day and it’s not a hassle at all.

blastomama · 06/03/2018 21:42

it’s easier to stick to a budget if you take £x out per week then putting small bits onto a card and then having to check your statement

No it's not.

crunchymint · 06/03/2018 22:05

All the sites about helping people budget, advise using cash. Research shows people spend more on cards.

bananafish81 · 06/03/2018 23:06

it’s easier to stick to a budget if you take £x out per week then putting small bits onto a card and then having to check your statement

Cash doesn't let me track my spending and budget like I can if I use my debit card. This isn't my own account but this is what using a Monzo debit card shows you. Much easier to monitor when you can see exactly where your money is going . I don't have to check a statement when it's presented visually at a glance

To wonder why so many people don't carry any cash on them?
bananafish81 · 06/03/2018 23:10

And live monitoring of my spending and cash withdrawals as it happens

Once the cash is withdrawn and spent it's much more difficult to track

To wonder why so many people don't carry any cash on them?
To wonder why so many people don't carry any cash on them?
melj1213 · 06/03/2018 23:23

I find that is the case with me as well. I have online banking, but it is a right old faff getting logged in with multiple passwords and a keypad machine to give random pin numbers. So I tend to only check my bank statement once a month.

What is this 2008? There are so much easier ways to access online banking!

I can check my bank accounts multiple times a day and it only takes seconds - all I have to do is open the mobile banking app on my phone and then either enter my password/password or scan my fingerprint and I have all my banking information to hand.

ZenNudist · 06/03/2018 23:29

I take cash out for the cleaner, piano lessons, school collections, tram fare, parking, taxis... use a card all week but still get through £50 cash a week. I love £1 coins. my big fear is not having a pound for the supermarket trolley or not having £ for the car park.

Springtrolls · 06/03/2018 23:50

I find when I used to take cash out I spent more. Like someone further up said, you take a tenner out, spend £6 then need another fiver the next day you have to take out another tenner.
Whereas with the card, instead of taking out £20 which I will then spend, I will only spend the £11.
Also makes it easier with the random amounts. You go to a shop spend £5.05 they might not always have change so one of you is going to lose out. Whereas card, no change.

Checking online banking is easy. They all have apps. Quick pull down or similar gives me an instant balance. Log in with my fingerprint, full statement and the ability to quickly transfer people cash.

So even when out and I haven't got cash, I can pay the person who lends me a fiver there and then.

Springtrolls · 06/03/2018 23:51

Oh and for the trolley and gym locker, I have one of those re-usable tokens on my keyring. Cost me a pound from the gym.

blastomama · 07/03/2018 00:00

All the sites about helping people budget, advise using cash. Research shows people spend more on cards

That might work for some people, it wouldn't work for plenty of other people. I could find research that shows people spend more with cards, I'm sure.

Springtrolls · 07/03/2018 00:21

Are these sites still going on info that would be now out-dated?
Years ago the cash over cash made sense beciase you have to wait a month to get your statement but then it wasn’t fully up to date. So the advice was relelvent to help people keep track and not get into debt. Even more so beciase of the ridiculous amounts of charges you used to incur for going slightly over.

Now however with 24 phone and online banking you always have an accurate track of your cash.
How many of those who only get cash can say with the cash in their pocket and bank balance they have whatever down to the last penny?

crunchymint · 07/03/2018 00:33

It isn't about keeping track of your balance, it is that for most people still,, using cards seems less real than handing over cash. So the advice about taking out in cash what you have to spend, is in relation to this psychology.

www.psychologytoday.com/blog/the-science-behind-behavior/201607/does-it-matter-whether-you-pay-cash-or-credit-card

blastomama · 07/03/2018 00:36

Be careful of taking a biased report of other peoples studies as any kind of fact.

Springtrolls · 07/03/2018 00:46

That link is not only using research that’s old, but it also talks about credit cards not debit cards.
Unless I have missed someone most of us cashless people are talking debit cards.

Lweji · 07/03/2018 00:53

So even when out and I haven't got cash, I can pay the person who lends me a fiver there and then

And here you go back to the point of the OP. You need to borrow cash. Someone else had to have the trouble to get cash and carry it for you to borrow it.
And then they have to give you their bank or PayPal or whatever details when you could just carry that tenner with you and save everyone else the hassle of bailing you out.