how long before cash is obsolete?

[rk911]

I smile whenever I see a thread topic like this one. It reminds me of when I left the military 40+ years ago and went to work in the check printing industry. My friends and family thought I was nuts since "checks were going away" and I would be out of a job in a few years.

Check usage has declined dramatically but four decades later we still aren't a "checkless society" - and probably won't be for a few more decades.

i wrote two checks just a few days ago. one was $1100+ and was written to avoid a 3% CC fee. the other was personal. virtually all of our routine bills are auto debited but we still write 4-5 checks a month.

 

[frank]

I typically write 3 or so checks a month. the rest is electronic withdrawal for monthly bills, but I use cash every day for most purchases under 50. dollars. I don't understand why people would be scared to carry cash? If you are scared to carry cash where you are you shouldn't be there. the point one poster made about negative interest rate is really something to think about, but if it was a cashless society what choice would you have?

 

[JoeWras]

I'll say this: the personal check at the retail register is almost extinct. Every blue moon, someone will pull out a checkbook.

I'm glad it is near extinct. It used to be a real bummer to be in line, and somebody has all their trinkets counted by the cashier, and then the process begins. Find the purse. Open the purse. Search the purse. Find the checkbook. Open the checkbook. Rifle through to find the first check. Look for a pen. Find the pen. Ask who to make it out to. How much was it? Whoops, I wrote the wrong amount. Start over. Blah, blah, blah.

Meanwhile, the lines around you are flying as people use cash or credit cards.

 

[scrabbler1]

I typically write 3 or so checks a month. the rest is electronic withdrawal for monthly bills, but I use cash every day for most purchases under 50. dollars. I don't understand why people would be scared to carry cash? If you are scared to carry cash where you are you shouldn't be there. the point one poster made about negative interest rate is really something to think about, but if it was a cashless society what choice would you have?

I am down to about 12 checks a year, mostly for doctor bills/copays, charities, and income tax returns. I'll use cash for most purchases under $40, and CC rarely for purchases under $30. As I wrote earlier, I'll use cash when there is a price differential between cash and CC (gasoline) and when I fail to meet a minimum $$ amount for a CC purchase (usually a low limit, like $10).

 

[gerntz]

I use cash for my non-profit club, for tips at the car wash & the like, for other private clubs' card games, at festivals, & for gifts. DW & I go thru about $300 cash/mo. Carry between $50-200. Use CC almost exclusively for purchases, even $0.52 for prescriptions.

 

[Time2]

But my mattress!

 

[karen1972]

Given that there is a large % of the population today that don't have a credit card or checking account or smartphone.

Go into a Walmart on payday, the check gets cashed, pockets are full and people go a shopping. It makes no sense for a poor person to put money in a bank just to be charged to have it there as you are under the minimum and then be charged more because you overdraft.

These are also the people that are often selling/trading things as the electric bill is due and they got hurt and didn't work 2 days last week so are short. Once someone has something that you can exchange via something that would be free and easy then maybe, but until then not going to happen.

 

[frank]

I'll say this: the personal check at the retail register is almost extinct. Every blue moon, someone will pull out a checkbook.

I'm glad it is near extinct. It used to be a real bummer to be in line, and somebody has all their trinkets counted by the cashier, and then the process begins. Find the purse. Open the purse. Search the purse. Find the checkbook. Open the checkbook. Rifle through to find the first check. Look for a pen. Find the pen. Ask who to make it out to. How much was it? Whoops, I wrote the wrong amount. Start over. Blah, blah, blah.

Meanwhile, the lines around you are flying as people use cash or credit cards.

I know what you are talking about. when you go to the check out even with a credit card. lots of people get to the checkout and when everything is checked and they come up with a total, then they start to pull out the wallet or purse and look for the credit card instead of having it ready when they get there.

 

[mountainsoft]

how else is the Antichrist going to force everyone to get a barcode tattoo?

With things like facial recognition, finger printing, and retinal scanners, I sometimes wonder if the mark of the beast would even be needed. I can already be identified without having to do anything. Besides, a bar code would be so easy to hack/duplicate. I would think a chip implant would be more likely, like they put in cats/dogs.

As for cash, I suspect it will be a supported currency for many years to come. Of course, that doesn't mean most people will use it. Gold is probably still considered currency but I've never seen anyone pay for a slurpy with a gold bar. I almost never pay cash for anything. I've probably had the same $20 bill in my wallet for the last six months, just for the rare place that doesn't take credit or debit.

We took a road trip to eastern Oregon a couple years ago, and was surprised to stop at a small diner that didn't take credit or debit cards. We usually keep some cash on hand, but that day we only had about eight dollars cash between us. The guy running the diner was very accommodating and put together a simple lunch for us for eight bucks.

Checks are another matter. I can't remember the last time I wrote a check. It has certainly been a number of years ago.

Our income is all deposited electronically, and we use our credit card for all expenses to get the 2% cash back. About the only thing I use our debit card for is paying for gas since they charge ten cents more per gallon for credit. Most major bills use e-checks, withdrawing money directly from our bank account.

 

[Chuckanut]

Let's see....

Cashless society, tattle tale cell phones, GPS tracking of our cars so as to tax us on the mileage we drive, CCTV for business security, doorbell camera networks in our neighborhoods.....


What could possibly go wrong?

 

[Gumby]

I know what you are talking about. when you go to the check out even with a credit card. lots of people get to the checkout and when everything is checked and they come up with a total, then they start to pull out the wallet or purse and look for the credit card instead of having it ready when they get there.

In New York, someone behind you would almost certainly speak up if you did that. There are often signs near the register ordering you to "Have your money ready."

 

[MRG]

I'll say this: the personal check at the retail register is almost extinct. Every blue moon, someone will pull out a checkbook.

I'm glad it is near extinct. It used to be a real bummer to be in line, and somebody has all their trinkets counted by the cashier, and then the process begins. Find the purse. Open the purse. Search the purse. Find the checkbook. Open the checkbook. Rifle through to find the first check. Look for a pen. Find the pen. Ask who to make it out to. How much was it? Whoops, I wrote the wrong amount. Start over. Blah, blah, blah.

Meanwhile, the lines around you are flying as people use cash or credit cards.

How do you know my wife?

 

[Alan]

Let's see....

Cashless society, tattle tale cell phones, GPS tracking of our cars so as to tax us on the mileage we drive, CCTV for business security, doorbell camera networks in our neighborhoods.....


What could possibly go wrong?

You need to read the book “2nd Sleep” by Robert Harris.

Seriously, it’s an excellent read and very relevant to this thread.

 

[braumeister]

You need to read the book “2nd Sleep” by Robert Harris.

Seriously, it’s an excellent read and very relevant to this thread.

I read that last month, and agree with Alan. An unusual and very interesting take on a possible future scenario.

 

[audreyh1]

Hmmmmmm. Thanks for the book suggestion.

 

[TromboneAl]

A similar milestone: We have gone keyless. Our phone acts as our car key, and we enter through the garage.

Check usage has declined dramatically but four decades later we still aren't a "checkless society" - and probably won't be for a few more decades.

I have written maybe three checks in the last several years, and I realize that that's the only time I actually write something. And my writing skills have deteriorated.

Driver's licenses have gone digital in some states, and some just stick something like this on the phone and don't carry a wallet:

I find that the biggest advantage of cash is paying at a restaurant. If you have the right amount (including tip) you just put it on the table and go.

 

[TromboneAl]

You need to read the book “2nd Sleep” by Robert Harris.

Seriously, it’s an excellent read and very relevant to this thread.

Yay. It was available in my digital library (How long before physical books are obsolete?):

 

[TromboneAl]

In New York, someone behind you would almost certainly speak up if you did that.

In NYC, is it still the custom that the car behind you instantly honks when the light turns green?

And are cabs less common?

 

[braumeister]

In NYC, is it still the custom that the car behind you instantly honks when the light turns green?

That has always been the standard definition of a "New York second" and it's still true in parts of the city.

As for checks, I write two every year, because that's the only way to pay our property tax to the county and the city.

OTOH, DW writes about 30 a year, enough that she carries a checkbook in her purse. So they're not quite dead yet.

 

[JoeWras]

In New York, someone behind you would almost certainly speak up if you did that. There are often signs near the register ordering you to "Have your money ready."

Ha ha.

I have stories while I lived in S. Florida (NY South). Too many to say here, but yeah, there is a cultural thing.

 

[rk911]

In New York, someone behind you would almost certainly speak up if you did that. There are often signs near the register ordering you to "Have your money ready."

ordering? suggesting, asking ok but ordering?

 

[Gumby]

ordering? suggesting, asking ok but ordering?

Yes, ordering. And if you don't, someone behind you in line is sure to say "Hey, can't you read? Have your money ready. We don't have all day here." The person taking your money might have something to say too. The people in NYC are nice and helpful, but they hate it when you waste their time. So, if you want to ask how to get from here to there, just ask. And they'll help you. But, for God's sake, don't give the back story about how you came to be in the City and why you want to go there. Just ask. Similarly, have your money ready and don't block the sidewalk gawking. People have places to go, people to meet and things to do.

 

[gerntz]

I know what you are talking about. when you go to the check out even with a credit card. lots of people get to the checkout and when everything is checked and they come up with a total, then they start to pull out the wallet or purse and look for the credit card instead of having it ready when they get there.

They've invented this thing called self checkout at most places I shop. Not Costco though.

 

[gerntz]

I have written maybe three checks in the last several years, and I realize that that's the only time I actually write something. And my writing skills have deteriorated.

We write down shopping lists.

 

[rk911]

Yes, ordering. And if you don't, someone behind you in line is sure to say "Hey, can't you read? Have your money ready. We don't have all day here." The person taking your money might have something to say too. The people in NYC are nice and helpful, but they hate it when you waste their time. So, if you want to ask how to get from here to there, just ask. And they'll help you. But, for God's sake, don't give the back story about how you came to be in the City and why you want to go there. Just ask. Similarly, have your money ready and don't block the sidewalk gawking. People have places to go, people to meet and things to do.

i guess this is partly why NYC/new yorkers have the reputation they have.