Money

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Dec 29, 2022
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East Suffolk
It's certainly changed a lot in my lifetime. We routinely pay for goods with the tap of a card, phone or even a watch. Has that affected our relationship to money, compared to having hard cash in the pocket?

Is it something to be respected for the opportunity it provides?

Can it create a distance between man and his basic needs?

Does having it afford you the luxury of being a more "moral" person?

Have you experienced extreme poverty or extreme wealth, or both? If so, has that changed your relationship with money and the things it can buy?

Slavery or freedom, or is that just down to the individual?

Interested to hear your thoughts.
 
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When i worked on building sites we used to get paid in cash in a little brown pay packet. All i remember is that when it went over to cheques in the packet to me, it meant less, obviously psychological but its true value was somehow lost for me. Speed forward to today it has even less value, tapping and swiping just adds to the banks already bulging coffers. It is being sold as 'convenience' but it is simply tempting us to spend more as its not real tangible money. Im a great advocate of cash and use it wherever and whenever i can. When i go out for a meal with the wife i take cash, in my head i know how much i need for the transport out and back and what I'm prepared to pay for our meal and a few drinks and i cut my cloth to suit this amount. Cashless is a con, plain and simple, convenient ? Yes but at your cost as more often than not you spend considerably more and the buisness's get clobbered too, so profits suffer for the independents and the big boys just up the prices to absorb it. Ive no doubt that cash will eventually disappear simply because the Banks can't make money from cash transactions. Thats the reason that branches are closing imo, no bank branches can't pay the cash in or at the very least its bloody inconvenient.
Im no conspiracy theorist but people are certainly being guided/hearded in this direction.
I get really despondent at the amount of companies putting the bottom line above everything else, greed, plain and simple. Businesses have to make a decent profit obviously but not forsaking everything else.
Yes cash is respected, give a child a fiver and their face lights up even though that kids magazine is about six and a half quid these days !
I regularly give the homeless a note or two, i don't judge what they spend it on because in their shoes i can't honestly say what i would do because a few quid isn't going to solve their problems, i know that much for sure. This can't be done with a phone tap.
Never been extremely wealthy or poor but age and the experience of wasting my hard earned in the wrong places has taught me the hard way. Now my earning power is on the decline i try not to think of the money I've wasted with nothing tangible to show for it. If i did i would be a lot better off for sure, so yes i respect money one hell of a lot more now.
Unfortunately we're pretty much all slaves to the monetary system, the minority like British red, less so, but a little money is still required i would imagine.
Great post btw !
Now I've depressed myself i'll be interested like you, to read others thoughts
 
When i worked on building sites we used to get paid in cash in a little brown pay packet. All i remember is that when it went over to cheques in the packet to me, it meant less, obviously psychological but its true value was somehow lost for me. Speed forward to today it has even less value, tapping and swiping just adds to the banks already bulging coffers. It is being sold as 'convenience' but it is simply tempting us to spend more as its not real tangible money. Im a great advocate of cash and use it wherever and whenever i can. When i go out for a meal with the wife i take cash, in my head i know how much i need for the transport out and back and what I'm prepared to pay for our meal and a few drinks and i cut my cloth to suit this amount. Cashless is a con, plain and simple, convenient ? Yes but at your cost as more often than not you spend considerably more and the buisness's get clobbered too, so profits suffer for the independents and the big boys just up the prices to absorb it. Ive no doubt that cash will eventually disappear simply because the Banks can't make money from cash transactions. Thats the reason that branches are closing imo, no bank branches can't pay the cash in or at the very least its bloody inconvenient.
Im no conspiracy theorist but people are certainly being guided/hearded in this direction.
I get really despondent at the amount of companies putting the bottom line above everything else, greed, plain and simple. Businesses have to make a decent profit obviously but not forsaking everything else.
Yes cash is respected, give a child a fiver and their face lights up even though that kids magazine is about six and a half quid these days !
I regularly give the homeless a note or two, i don't judge what they spend it on because in their shoes i can't honestly say what i would do because a few quid isn't going to solve their problems, i know that much for sure. This can't be done with a phone tap.
Never been extremely wealthy or poor but age and the experience of wasting my hard earned in the wrong places has taught me the hard way. Now my earning power is on the decline i try not to think of the money I've wasted with nothing tangible to show for it. If i did i would be a lot better off for sure, so yes i respect money one hell of a lot more now.
Unfortunately we're pretty much all slaves to the monetary system, the minority like British red, less so, but a little money is still required i would imagine.
Great post btw !
Now I've depressed myself i'll be interested like you, to read others thoughts
I couldn't have put it better myself.
Supporters of a cashless society also claim it would prevent tax evasion, yeah right, tell that to the billionairs and millionairs with offshore bank accounts. If you want to pay by card, fine, But don't take away my choice. Cash is king.
 
It's certainly changed a lot in my lifetime. We routinely pay for goods with the tap of a card, phone or even a watch. Has that affected our relationship to money, compared to having hard cash in the pocket?

Is it something to be respected for the opportunity it provides?

Can it create a distance between man and his basic needs?

Does having it afford you the luxury of being a more "moral" person?

Have you experienced extreme poverty or extreme wealth, or both? If so, has that changed your relationship with money and the things it can buy?

Slavery or freedom, or is that just down to the individual?

Interested to hear your thoughts.
Lots to unpack there.

If you are talking about changing over to a more digital based concept of fiat money ( which essentially we have ) but without the 'hard' cash of notes and coins in a pocket I can see potential issues as its less tangible and easier ( I think ) to over spend. And if you are over spending in one area you arn't inversely saving in another.

"Does having it afford you the luxury of being a more "moral" person? " I found this question interesting but not sure what you mean by it?


"Slavery or freedom, or is that just down to the individual?" - This is a very interesting subject in itself , individually and culturally ( Americans , British,Chinese, Indians ) we all seem to have very different relationships with money. Between saving and spending and where we invest surplus ( if any ) money.
 
I see money as a tool to protect me and my family from some things (sickness, housing, nutrition etc) and a means to be as independent as possible, therefore removing the ability for interference where possible.

That said, money can also be a chain around your neck. Earning big money and having a lifestyle which requires the continued earning of big money isn’t necessarily something to be envied.

Though you often need a decent amount of money these days if you want to have your own house. The average property:average income ratio is utterly outrageous these days. Seems like a way to trap the middle classes into the corporate grind which previously might’ve been only a trap for the poorer folks. Now we all get pooed on by people with real money.

And by ‘real money’ I am not talking about anyone who is on this forum. People on £20k a year accusing those of those on £200k a year of being ‘the elite’ are just totally lacking the comprehension of what it is to be properly rich. Someone on £20k and someone on £200k are in the same income bracket as far as the truly wealthy are concerned.

Cash is definitely better for controlling spending, although some banks are doing better at letting you do envelope budgeting, such as Monzo where you can divide your money into pots as you might do with cash.

Even so. I don’t like the idea of anyone being able to track and control my money if I don’t want them to. None of their business. For this reason, it’s important we maintain physical currency.
 
I really don't see what the fuss is about - coins and notes are no more 'real value' than an electronic transfer. It's just a paper or metal representation of wealth. Don't get me wrong, I still like a few notes in my pocket, but I'm not going to get upset by just an alternative (and very convenient) representation of 'money'.

Oh, and most retailers prefer electronic transfers these days - it cost them less than physically going to a bank and depositing cash and it's safer.
 
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I really don't see what the fuss is about - coins and notes are no more 'real value' than an electronic transfer. It's just a paper or metal representation of wealth. Don't get me wrong, I still like a few notes in my pocket, but I'm not going to get upset by just an alternative (and very convenient) representation of 'money'.

Oh, and most retailers prefer electronic transfers these days - it cost them less than physically going to a bank and depositing cash and it's safer.
I think its exactly that however. The Physicality of money being present or not can I would say change or influence how some ( Not all ) spend their money. Be that money jingle-jingle pocket shrapnel or digital ping-pong slap-n-go it 'shouldn't' make a difference in terms of how much people spend - But I believe it does.

I know its randomly different but one of the reasons casinos in Vegas don't have windows is that the casinos don't want the customer noticing the passing of time via visual clues ( " Its getting dark outside " etc ) and so invests and spends more time and money within the casino getting slowly rinsed.

Yes , I agree sometimes the cashless ease of slap'n'go is useful but I do think for others it can only be a bad thing - like credit cards it comes down to how the individual uses them. ( Or even 125% Mortgages. Thanks Northern Rock )
 
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I guess I still think and silently champion that we should have a series of financial lessons in the last year of schooling before young adults are released to be gifts to the world.

I spent a year teaching problem kids and young offenders for a charity. We used to teach them things like how to budget, how to open a bank account, what 'APR' and things like that mean. I could never understand why this was never just in the general curriculum, it was almost as if the education system thought "Well they're too naughty/stupid to learn about trigonometry so we'll just settle for teaching them these essential lifeskills which no other kids will ever need for some reason"

Fully agree with you.
 
I guess I still think and silently champion that we should have a series of financial lessons in the last year of schooling before young adults are released to be gifts to the world.
That would be an excellent idea. My mum (in school in the 1960s) was taught house-whiffery (that's how she pronounced it - how to be a housewife) and tbh I think young people of all genders would benefit from that. Understanding financial things and how to budget, as well as other life skills (how to look under a car bonnet? How to do laundry correctly?)
Maybe even a bit of bushcraft. But the budgeting and how finances work is the most important one.

Not everyone has a parent who teaches them, or can teach them, these things.
 
I spent a year teaching problem kids and young offenders for a charity. We used to teach them things like how to budget, how to open a bank account, what 'APR' and things like that mean. I could never understand why this was never just in the general curriculum, it was almost as if the education system thought "Well they're too naughty/stupid to learn about trigonometry so we'll just settle for teaching them these essential lifeskills which no other kids will ever need for some reason"

Fully agree with you.
It would seem the teaching school model we have isn't necessarily the best for the individual but more for the benefit of society as an entity.
 
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That would be an excellent idea. My mum (in school in the 1960s) was taught house-whiffery (that's how she pronounced it - how to be a housewife) and tbh I think young people of all genders would benefit from that. Understanding financial things and how to budget, as well as other life skills (how to look under a car bonnet? How to do laundry correctly?)
Maybe even a bit of bushcraft. But the budgeting and how finances work is the most important one.

Not everyone has a parent who teaches them, or can teach them, these things.

Agreed.

I guess alot of financial decisions can be started to be learn't in the home with such things as ( I don't have children so unsure what the term is now ) what i would call ' Pocket Money' or Paper round money - one is obviously a gift and one is a labour based reward.
 
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I guess I still think and silently champion that we should have a series of financial lessons in the last year of schooling before young adults are released to be gifts to the world.
My own opinion(which may come across as a bit whacky) is that not teaching schoolchildren how to understand basic financial stuff is intentional. eg-the small print on a loan they are taking out, or understanding how things like PCP when buying a car etc etc . Surely it is not as hard to learn as French, Chemistry, Maths. It baffles me that kids are not taught basic financial skills and knowledge.
 
My own opinion(which may come across as a bit whacky) is that not teaching schoolchildren how to understand basic financial stuff is intentional. eg-the small print on a loan they are taking out, or understanding how things like PCP when buying a car etc etc . Surely it is not as hard to learn as French, Chemistry, Maths. It baffles me that kids are not taught basic financial skills and knowledge.
Yes , taught to a level- I imagine for a reason.
I'm never been privy to what education is provided at "better" schools - But I hope its more in an Academy type concept teaching critical thinking.

Teach the masses just enough so that they can get into debt. #edit - And in the current cost of living crisis that seems to be more and more likely - so not a criticism of individuals.

( Sorry to the OP if this is all going slightly off topic )
 
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I guess I still think and silently champion that we should have a series of financial lessons in the last year of schooling before young adults are released to be gifts to the world.

My 8 year old granddaughter has a game app from Nat West (I think) that teaches about earnings, tax, investment, growth and loss etc. She's taken it all in and proclaimed on boxing day that she wanted to keep some of her money as cash in case the system broke!!
 
The thing is, most of the commercial world has been working in a cashless way for a very long time. True, any business that interfaces with the public has used physical cash up to now but compared with the amount of money that flows between big businesses and across national borders, the cash is a very small amount. I guess, because my own company of 30 years never actually saw physical money, I've never felt particularly attached to it :)

It's nothing new, the public's just catching up!
 

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