For some people, the dawn of the debit card era has arrived and they believe soon we will never use cash to buy things with again. And there are some that believe cash will only be truly redundant when flying cars are the norm and we all have slave robots. However even if cash is always available, it is possible not to use it in our day to day lives.

Just think for a moment. At petrol stations you can now pay at the pump using your card. Also supermarkets, shops and restaurants have card terminals attached to their retail cash register. Fast food and drive through windows are even accepting debit or credit cards, now! It does seem possible that you could get through most days without needing cash as you can use debit and credit cards in most places.

But with most things, each system, cash and card, have advantages and disadvantages. Using cash requires an in person transaction at the retail cash register. Cash cannot be used to buy items over the phone or the internet and once it is stolen you cannot claim it back. However you do have the advantage of anonymity with cash whereas some of your personal details are given to the vendor when you pay with card. With cards, there is a risk of fraud and identity theft.

one major problem with cards is over-spend. When you do not physically give your cash to someone, it is easier to buy more expensive things.

Deciding whether to carry cash or go “cashless” is a personal decision for now, as we still have the ability to use both. One cannot say for definite if we will ever be forced to stop using cash but the credit card companies enjoy the fact that we use them more and more in society. Whilst you have the option you can use both and decide based on the advantages and disadvantages of both.

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