What the Banks Want You to Do

You’re in a shop…

“Thank you Mr Smith, that’ll be £30”

You hold out your card, and the machine goes “BEEP!” It’s painless and you feel nothing.

You pick up your purchase and walk away…

Alternative scenario

“Thank you Mr Smith, that’ll be £30”

You take out your wallet and select a £20 note and a £10 note.

With a feeling of loss, you physically hand over the notes to the salesperson behind the counter.

You watch your money being stowed away, and have been made much more conscious of the money you have just spent.

Using Cash Has Two Main Benefits

1) In these financially challenging times, it’s worth becoming acutely aware of the money you spend. Doing so will help you avoid paying for things you don’t need.

2) The banks and financial institutions, as well as the government, would like to get rid of cash altogether. If you use cash regularly, you will not only spend less money, you might also be preventing the disappearance of cash.

Why not make a firm commitment to go to your bank or ATM machine today and draw out some cash?

As the saying goes… Use it or lose it…

What the Government Wants…

The government would like to get rid of cash altogether and introduced a digital currency.

This would mean that every penny you spend could be tracked and monitored.

While the government might not track and monitor every penny you spend, the technology used would certainly make that possible.

This is exactly what happens in communist China, where a points-based system is in operation. The Chinese government uses algorithms that could decide whether you’ve bought too much alcohol, or purchased things the government doesn’t want you to buy.

As a result, you might go into a supermarket and buy a bottle of wine, only to have your payment refused at the checkout. That aspect of your card has been automatically turned off.

If you’re considered to be overweight, you might be prevented from buying cakes, pies or your favourite biscuits.

If you’ve exceeded the speed limit in your car on several occasions, finds could be taken automatically, or your fuel might be restricted as a punishment.

The card issued has multiple purposes. If you are considered “unsuitable”, you could be prevented from applying for certain jobs, or accommodation, or international travel etc.

I’m guessing you don’t want a digital currency to be introduced?

Another good reason to continue using cash perhaps?

Simon Bailey

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