I had two reasons, the first is because i found it way too easy to spend on my card without thinking, and the second because I wanted to regain a bit of privacy alongside everything else I’m doing. Ive set it up in my bank that on payday, an amount of my salary automatically goes to the bills account, some goes to long term savings, some to short term savings, then the rest I take out in cash.
It really does change my perception of spending I think: Ive found myself not buying things because I didnt want to break a note and carry change. I can physically see how much I have left. I can take £20 to the pub and leave when its finished. Plus it feels really good knowing every single transaction isnt stored forever. I have a small amount of money on a contactless ring for emergencies like a bus fare or somewhere that unexpectedly only takes card.
Is anyone else still predominantly using cash day to day?
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What if you only had cash?
It’s a private contract between the business and the customer, you are supposed to ensure you have means to pay beforehand.
In the US cash is considered “legal tender for all debts” by law currently.
That’s changing though as some places won’t accept cash even still.
It’s the same in the UK but “legal tender” doesn’t mean what most people think it means.
When you buy something from a shop you’re technically offering to enter a contractual relationship for the purchase of said goods. If the shop agrees to your terms, including how you’d like to pay, then the contract is ratified. If they don’t accept your preferred method of payment then there is no contract of sale and there is no debt to be paid.
This is also why shops don’t have to honour pricing errors; when you bring the item to the checkout you’re technically just offering to buy it for the listed price and they can choose to reject your offer.
Then you can’t buy anything