Do cash control spending more than digital or crypto currency?

[darkangel11]

Of course, because almost all current spending uses cash, it is different if we hold cryptocurrencies, if the price goes up it will continue to hold, but if it is bearish then we will continue to hold because it is impossible to sell because of losses.

I don't know which place you're talking about but Europe actively fights the use of cash. Countries here are limiting the amount you can withdraw from ATM and putting transaction limits on the things you can buy. You can no longer buy a car or a house with cash because almost every country has a limit, be it 10k EUR or something like that. They are trying to force you to use a bank account. Years ago you could choose if the employer pays you in cash or sends money to your account but now you can't.

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[Mauser]

There are pros and cons to using cash that everybody needs to decide for himself. I don't think we can say that cash or digital currencies are better than the other. The major benefit of using cash is that you can't go into overdraft. When you always pay by card it can happen that you spend more money that you actually have and the bank will charge a lot of interest for that. The biggest disadvantages of cash is that you carry large sums of it with you and it becomes much easier for people to steal it from you. Especially in big tourist destinations pickpocketing is an issue and ruin a whole vacation. Another thing I learned myself this year that converting cash into another currency is getting much better rates than from a bank account. I could have saved atleast 100 USD if I had taken cash with me to my last vacation instead of only credit card. First there was a bank fee for every withdrawal and then there are worse conversion rates than I could have gotten with cash.

[KaliLinux]

A recent research by the Britsh Post Office unveiled that 71% of Brits planning on going on vacation in the UK this year intends to take out cash before leaving. There have been high increase in cash deposit and withdrawals in Britain. People are going back to cash because they believe that it keeps tighter control on their spending as living costs soar.

It is believed that cash helps people budget, as using it means you literally can count the pennies. Paying with a card or crypto currency make spending easy and convenient that sometimes one tends to overspend. Sometimes one might not even know the balance of his account but with cash you are always aware of how much you have.

What do you think?


https://www.bbc.com/news/business-62437819

I believe this is just mainly a fact of indiscipline with spending from people saying that regardless of the percentage. The reason I use cash these days is that most of the local shops around our area are not on pos but the bigger shops have so no problem with does. Whether spending paper fiat or digital card to me makes no difference cos I don't think you will spend more via digital means than how you would if you had cash on you. Also, another downside to using cash sometimes is, that some traders might not have the complete change to give you and you might end up leaving some change for them imagine if this is done a few more times but this is not so with digital payment.

[Wong Gendheng]

What I feel is like that, if I want to invest in using money from bank transfers then I feel difficult, but if investing with cryptocurrencies then it will be easier, this is because transactions or investments at cryptoucrrencies are easier than cash.

[darewaller]

I agree that crypto is the best control, then cash, then digital. However, credit cards have something that nothing else has; spending others money. Remember, when you spend credit card, you make a debt, and you pay "some" of that debt back, not all. This means you will keep on making debt, and inflation will make sure that you pay less and less, even if the number stays the same, due to inflation that number means a lot less in the future.

So, if you keep making big debts like that, you will definitely be making a great profit in the long run and that's very important. So are you trying to really "save" money? Or do you want to make money? I say making is more important.

[batang_bitcoin]

I don't like carrying cash, and I appreciate that digital wallets are safer than keeping cash in a wallet and while some people may be more comfortable with tangible forms of currency, we all carry our phones with us everywhere, so the move to digital currency not really a big jump for most people. In general, I have to side with Bitcoin and I think Bitcoin still has an advantage over cash and credit cards and at the end of the day, the choice is yours.

Me, I like carrying cash but it's also convenient if most of my pocket money are in digital wallet apps. I save not that much anymore in the banks but if you wanna save, that's the best control. It feels like it's a hassle if you're going to withdraw your money trying to look for an ATM so you have to exert effort and allot time for it. So, the banks are really good just for saving but as an investment or earning interest there, you barely get enough. Convenience is with digital wallets and there's no need to choose between it and crypto because you can have both of it at the same time.

[Captain Corporate]

I wish I stayed in crypto. I had some ideas and did some stuff and it turns out its not bad, but I spent it all and got into debt. Last september/october period to now has been a personal hell for me, I have lived through one of the worst times in my life and life wasn't really life, someone very dear to me got sick and I have been living with that for a long time. She is fine now, but because of that situation I failed to do anything substantial with finance related world. So all in all, crypto would have been much better, cash nor digital doesn't really help with people in any way or shape to be fair and that is why I do not believe that we should be keeping our in those things if you ask me.

[KingsDen]

I cannot agree less with the writer of the article This article is an eye-opener. If you are using a mobile banking app, the rate at which you'll be spending money, you will not notice how much and how huge you have spent. In fact, when I was a victim of scam, I spent thousands of Dollars gor an investment without thinking very much about it. If it was cash, it will run into millions in my country's Fiat. Assuming it wasn't paid via crypto, before I could finish counting the money, I  would have had a second thought before spending.

I will consider going back to cash spending .

[Eden Loomis]

It is believed that cash helps people budget, as using it means you literally can count the pennies. Paying with a card or crypto currency make spending easy and convenient that sometimes one tends to overspend. Sometimes one might not even know the balance of his account but with cash you are always aware of how much you have.

I agree with this statement. Holding cash helps me to consider that how much I have spent and also how much the balance. It prevents me from overspending

[KingsDen]

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I believe it depends on the society you live in.
In our country there are less people who are aware of crypto and they are spending cash - they do so to avoid tax payment - and they are doing good.
And in my country people have no mind to turn to crypto in coming 10 years approx.

With the current state of your country, you will think that it will take upto 10yrs for people to fully engage in crypto. You can be correct judging by the present state of your country. But  10yrs is too big, change is constant. Within the space of 2yrs, many things could change to your amazement. It just need one development or innovation and there will be breakthrough.
If your people use social media, it will even happen faster than expected.

[m2017]

A recent research by the Britsh Post Office unveiled that 71% of Brits planning on going on vacation in the UK this year intends to take out cash before leaving. There have been high increase in cash deposit and withdrawals in Britain. People are going back to cash because they believe that it keeps tighter control on their spending as living costs soar.

It is believed that cash helps people budget, as using it means you literally can count the pennies. Paying with a card or crypto currency make spending easy and convenient that sometimes one tends to overspend. Sometimes one might not even know the balance of his account but with cash you are always aware of how much you have.

What do you think?


https://www.bbc.com/news/business-62437819

I think there is logic and common sense in using cash to better manage your budget. Somewhere a long time ago I heard about studies (don't ask for a link because I don't remember the source) stating that people spend money with bank cards faster and easier than cash. I tend to think that this is close to reality, because it intersects with my personal experience. It is more convenient and rational for me to keep track of the balance of my wallet if it is cash, not digital. I see that people around are more and more involved in the digitalization of money. Digital money is undoubtedly crowding out cash, taking a share every year. The days of cash days are numbered and they will inevitably be forced out of circulation. And what is reported in this news, I consider a temporary phenomenon. Such bursts of increased demand for cash will happen from time to time, but this will not help and the digitalization of money by 100% is inevitable.

[Huppercase]

It is believed that cash helps people budget, as using it means you literally can count the pennies. Paying with a card or crypto currency make spending easy and convenient that sometimes one tends to overspend. Sometimes one might not even know the balance of his account but with cash you are always aware of how much you have.

I agree with this statement. Holding cash helps me to consider that how much I have spent and also how much the balance. It prevents me from overspending

This is when you are thinking as person into cryptocurrency, many people outside crypto ecosystem doesn't think like that, they spend how they want, how they feel and how their mood swings but some people who use to plan don't over do it, they used to planned their lives and know what to spend at a particular time.
There are some people who are also not into crypto holdings but spend wisely and don't over do things with fiat. I think been in investment help us to plan very well and reduce how we spend this fiat.

[Paul Pogba]

This is a right opinion, when I have a balance in the wallet then it will be easy for me to spend or invest in ICO, I agree that cash or balance in the bank is more effective to control spending than the balance in cryptocurrencies wallet.

[inthelongrun]

So cash is king nowadays? I heard this in my country too wherein every market dropped heavily, especially our stock market which plummeted a lot. With the current world situation, there are too many uncertainties and everything is becoming expensive. So people are keeping their cash. I wish I did this too late last year when I predicted that 2022 would be a tough year for the world economy. I'd been following the situation in Ukraine even before the invasion too.

Just this year I also opt to cash when it comes to daily spending, it is really effective and more thrifty when having cash compared to using credit cards. But cash doesn't necessarily mean actual physical fiat money. I do have cash in my bank apps as they are very useful in paying bills.

Maybe in developed countries, all your ATM cards savings or not are also credit-card ready too?   

[Flexystar]

Surprising. I thought cash is more uncontrolled way of managing your assets. For example, having cash in your hands you can easily overspend when you go for shopping and quickly do this over digital. In case of digital transactions you have to go though the bank process, use your cards and you can always keep track record of balance through mobile banking and control yourself. Like in case of cash this is drawback, you won’t keep counting all the time isn’t it?

[Pejoh Asu]

I think there is no difference in controlling money, if we have wasteful nature it will be difficult to control money, cash does not guarantee to control expenses, the best thing to control money is to place it to the type of long -term investment