> 1. Self discipline. Plastic (debit or credit) lets you spend more than you should. Cash doesn't.
Never understood this idea. If you have a wad of cash and you're bad at tracking your spending, don't you just go through all of the cash and are doubly fucked?
> Privacy. Do you really want every transaction to be observed by the Government? "We think you are spending too much on alcohol. Reduce it and increase spending on greens by at least £5 a week". Don't think it will happen?
Don't you have real present-day problems to worry about, like the Tories destroying the NHS?
> 3. Where do you keep the rainy day fund? I don't think anyone is developing an electronic mattress.
In bank accounts. Do UK banks not have insurance? In the USA you seriously do not want to leave large amounts cash lying around where it can be untraceably stolen, consumed by fire, or otherwise lost to acts of nature or humans.
>> 1. Self discipline. Plastic (debit or credit) lets you spend more than you should. Cash doesn't.
> Never understood this idea. If you have a wad of cash and you're bad at tracking your spending, don't you just go through all of the cash and are doubly fucked?
A wad of cash is tangible in a way that a number in an account is not. If the wad is thick, you're in good shape. If the wad is thin, it's time to slow down your spending. And when the wad is gone, you're forced to stop even if you didn't want to.
re: 1. With cash, the worst case is that you spend all your money. With a CC, the worst case is that you spend all your money AND max out your CC limit. So instead of having a net worth of $0 (until your next paycheck), you have a net worth of -$10,000. Then every month your debt grows by $200 due to interest.
Never understood this idea. If you have a wad of cash and you're bad at tracking your spending, don't you just go through all of the cash and are doubly fucked?
> Privacy. Do you really want every transaction to be observed by the Government? "We think you are spending too much on alcohol. Reduce it and increase spending on greens by at least £5 a week". Don't think it will happen?
Don't you have real present-day problems to worry about, like the Tories destroying the NHS?
> 3. Where do you keep the rainy day fund? I don't think anyone is developing an electronic mattress.
In bank accounts. Do UK banks not have insurance? In the USA you seriously do not want to leave large amounts cash lying around where it can be untraceably stolen, consumed by fire, or otherwise lost to acts of nature or humans.