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Legal, pensions and money

Hard Cash Making A Comeback?

(44 Posts)
Margs Thu 07-Dec-23 16:28:32

According to the British Retail Consortium the cost-of-living crisis is responsible for a notable increase in cash spending - it's hardly surprising as credit/debit cards don't look and feel like 'real' money and so it's difficult to relate to handing over your income. Until the bank statement arrives......

Germanshepherdsmum Thu 07-Dec-23 16:37:18

Two small shops in my nearest market town have only accepted cash for a long time. There is another way of looking at cash spending - some people deal only in cash as it is rarely traceable.

Desdemona Thu 07-Dec-23 16:40:39

Perhaps. Probably some people are worried about the government snooping on what they are spending their money on though, especially with the current plans to bring in laws to access bank accounts?

fancythat Thu 07-Dec-23 16:44:23

Also, as being discussed on another thread, if technology breaks down, a bank card doesnt work.

aggie Thu 07-Dec-23 16:45:06

Our local cafe has reopened with a new owner , we are trying to support her , I use cash there as the card companies take some of her slender takings

Germanshepherdsmum Thu 07-Dec-23 16:50:42

The lack of spending would be a red flag Desdemona.

AGAA4 Thu 07-Dec-23 16:50:53

It is easier to manage your money with cash as you only have the amount withdrawn to spend. I'm glad that when I was a young mum I had an amount of cash to spend and knew there was no more when that had gone. It's easy to rack up big bills with cards.

silverlining48 Thu 07-Dec-23 16:59:14

I use a card when food shopping or paying restaurant bills, but have cash in the house and often use it because not everyone has cards and will struggle. For that reason I don’t want to see the end of cash, or cheques for that matter, call me a Luddite by all means but I am supporting those mostly very elderly who find this fast moving world hard to comprehend.

Germanshepherdsmum Thu 07-Dec-23 17:08:46

I never pay for small purchases by card - by the time the card company has taken its cut it leaves the retailer with very little. And I always have cash on me for homeless people (though I rarely see them on the streets now I no longer work in London) and the Big Issue seller.

NotAGran55 Thu 07-Dec-23 18:22:27

aggie the cafe owner will also incur charges when she pays the cash into her business account.

karmalady Thu 07-Dec-23 18:30:03

hmrc are using very powerful computers plus AI, nothing can be hidden if using a card. Where you are, what you spend, what you buy and AI is used to determine if you need to pay more tax. All this information to hmrc is just about instant.

I prefer to use cash, always have done and some of the local retailers have little notices asking people to pay cash for small value items

Nanatoone Thu 07-Dec-23 18:31:24

There is also the counting, storage and transport of cash. Our local cafe has been robbed several times and no longer takes cash. It’s not a simple equation.

Primrose53 Thu 07-Dec-23 19:12:22

I pay for fuel by card and the weekly shop. We bought a new sofa at the weekend and paid for that by card as it was a couple of thousand quid.

Everything else I pay for in cash. Snacks out, window cleaner, post office transactions, beauty therapist, collection boxes, money for family kids, village shop odd bits, cinema etc and I like using cash.

aggie Thu 07-Dec-23 19:22:30

Lots of small places here are preferring cash ,,

GrannyGravy13 Thu 07-Dec-23 19:28:43

We use cash wherever and whenever possible.

RosiesMaw Thu 07-Dec-23 21:41:30

Germanshepherdsmum

I never pay for small purchases by card - by the time the card company has taken its cut it leaves the retailer with very little. And I always have cash on me for homeless people (though I rarely see them on the streets now I no longer work in London) and the Big Issue seller.

The Big Issue seller on Alcester Road on Saturday had a contactless machine!
It has to cut down on mugging and theft and as a former Thursday Group treasurer I used to hate counting and bagging up coinage and even notes to take to the bank. Now at our Arts Society meetings we encourage members to pay their annual membership and trips etc by BACS or contactless..
It is cheaper for the society than cheques too.

Jaxjacky Thu 07-Dec-23 21:55:22

We use cash in our village shops, it’s preferred by them, local pub and in the farm shop.

tanith Thu 07-Dec-23 22:47:01

Tha only shop I know that only takes cash is the fish and chip shop nearby. I pay my window cleaner cash but that’s the only time I use cash I pay for everything by card but via my mobile phone. I don’t carry cash or my cards very often at all just my phone.

karmalady Fri 08-Dec-23 09:11:58

I heard something on the radio last night re using a mobile phone loaded with cards. To switch bluetooth off when going out as scammers are using a simple device to steal money by taking details from the phones

I always use my cc when paying for bigger purchases or online of course. Credit cards do offer protection as the transaction is between the seller and the cc company. There is no shop I wouldn`t trust in my village, hence cash as much as possible

henetha Fri 08-Dec-23 09:58:11

I've grown to love my bank card, even though I never thought I would. But I still like cash for smaller things, like paying the window cleaner etc.
And what if banks are hacked into? Better have a bit of cash just in case.

madeleine45 Sun 10-Dec-23 11:52:31

The banks were glad to use covid as an excuse to have to use cards for everything. Well firstly, up in the Dales it doesnt matter if you are a millionaire with the latest phone available. Tough!! No signal and cash is king. In any case I object to the fact that companies think they can refuse coin of the realm!! Personally I am prepared to use a card in a few trusted places, but definitely use cash especially in our local open market. i want to support my local shops and market, and also I live alone and do not want to buy 6 apples or pears, and much prefer to chose a variety , which I am able to do on the market. My bank know who I am , I can withdraw cash inside the bank and am very aware of exactly what money I have in my account. With the amount of scammers and untrustworthy people keen to get hold of your details, that are not being stopped by the banks who have the nerve to try and blame you whenever possible, my way is much safer for me. I inform my bank if I am going to spend a large amount which is unusual for me and so am safe. Last christmas eve someone tried to get something paid from my credit card, but as I rarely use it I was immediately aware of it and stopped it . I rang the fraud people 3 times and they did not answer and so I got in my car and went to the bank and they stopped it safely Again my way I keep myself safe and in charge of my spending. It is up to people to choose what and how they want to use their accounts and money. But there are many people without a bank account, for a variety of reasons, and the small traders are being fleeced by the wretched banks taking their cut first. I stick to my principles, I went to buy something in a large store where they said "We only take cards" I did want the item but said in that case put it back I will buy it elsewhere. Having a choice is important and we should not let banks dictate what we do and how. It is our money not theirs and they will not dictate to me . Dont let them dictate to you and again supporting the local and small traders is important, if you want to keep a live town centre and a greater variety of options

Zuzu Sun 10-Dec-23 11:58:23

We ate lunch the other day at a local restaurant we've eaten at many times, always paying with a debit. I noticed a "customer fee" on the bill of 4%. Asked about it and was told it covered the cost of using a card. I'm in the US, but thought this was tacky and cheap. Felt like I was paying a fee for the lights to be on. Some things are simply part of the cost of doing business. Plus 4% seemed high to me. I should go back to cash, I suppose. But a card is so convenient.

Ilovecheese Sun 10-Dec-23 12:17:40

Germanshepherdsmum

The lack of spending would be a red flag Desdemona.

There would not be a lack of spending. There would be a withdrawal say weekly, to spend as one wished, without being spied on.

ExaltedWombat Sun 10-Dec-23 12:28:14

>There would not be a lack of spending. There would be a withdrawal say weekly, to spend as one wished, without being spied on.

Same difference. Even if HMRC were spying, they don’t need an itemised list. They’re very good at glancing at overall in/out figures then asking ‘so what DID you live on?’

Nan0 Sun 10-Dec-23 14:10:35

I was in Germany last week, Cologne.They like cash., though option to pay with card is available..