Do You Still Use Printed Money?

Discussion in 'Financial Planning' started by WildSpirit, Jun 7, 2017.

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  1. WildSpirit

    WildSpirit Active Member
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    There is no doubt that the world we live in today is an extremely modernized world. Obvious that this is not the reality of many countries, but a large number of them. When we talk about the financial aspects, there are several options - which, by the way, offer us much more security - to replace the use of printed money (credit cards, debit cards, bank transfers, digital wallets... and the list goes on) which apparently will be a very restricted option very soon.

    The future of money seems to be something totally digital. What do you think about it?
     
  2. jeager

    jeager Master Survivalist
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    I use printed money most times and use my electronic checking to pay bills on line.
    Believe it or not some places no longer take printed money.
    Credit cards are fine.
    Why?
    I'm not sure but possibly to prevent "shrink".
    Shrink is a retail term to describe losses that can't be readily identified.
    Stealing from the till, shoplifting, goods damaged or shorted in shipping, etc.

    I worked retail security part time when I was a police officer.
     
  3. Old Geezer

    Old Geezer Legendary Survivalist
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    Were the economies of the world not going to collapse, government dead soul accountants would eliminate paper currency and coinage. Governments want to track all transactions, first to collect taxes, but also to ensure that the sheeple stay inside their fenced-in pastures. "Good little sheep. Do as you are told!"

    Problem is that in most countries, at least 30% of the commerce is black market. People use government IOUs ("cash") for their private purchases. If a government bans something like the cash they themselves issued, the demand and thus the value goes up. As fiat currencies involute, precious metals and coins made of such will go way up in value (silver in particular due to its usage in the electronics industry, medical products, and in the chemical industry. In really bad times, people return to barter -- beans, boxes of bullets, bacon, bricks, BBQ briquettes, bourbon, beehives, buttons, ..........

    Oh and, politicians accept cash when receiving their payoffs. My dear old dad was in the gambling business (the illegal side). Where he had his gambling machines, the business owners paid off the cops in cash. The operators, incl. my dad, got together and paid off the state congressmen in cash. As for the Federal Agents, dad was very legal and paid his gambling taxes. The Feds can be bought, of course, however that is a whole other league wherein the selling of souls is involved.
     
    Last edited: Jun 18, 2017
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  4. Anniee

    Anniee New Member
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    You are right @op. That is why I am getting my feet wet with cryptocurrencies. I have start to learn how to trade coins for a 5-10% profit. I still use printed money. In fact, printed money is the norm in my country. Businesses haven't fully adopt the pos and those online payment methods because of the associated cost of operation the banks inefficiences.
     
  5. CivilDefense

    CivilDefense Expert Member
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    Yes, I personally still use paper currency, though most of my transactions are digital. As to going completely digital, no thank you. I'm not a paranoid delusional, but you don't have to be one to see how a tyrant could abuse such a system very easily. That and keeping nearly all store of wealth in a medium that can be easily wiped out does sound all that good either.
     
  6. Scarlet

    Scarlet Member
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    Depends on what to pay. If online where I order some things, I use credit card of course because it is convenient than cash on delivery. I also use credit card if my bill is high to not to withdraw on ATM and carry bulk money. On a daily basis, I use cash.
     
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  7. Koala

    Koala Well-Known Member
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    I use a mix of both - sometimes the printed money and other types the paying methods with credit cards or online transaction. My wallet always has a least a bit of printed money, just in case. I prefer to use the credit card in the stores though.

    And also, I have some printed money safely stored within our house just in case! You never know when you might need some cash.
     
  8. Neiltarquin

    Neiltarquin Member
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    Yes I use printed money. I don't use cards because I don't know how hahaha. I'm old schooled. Actually i have used my debit card as mode of payment but that is just one time. I have worked as a Customer Service Representative and I've heard all kinds of story of identity theft and unauthorized use of credit card. That is the reason why as much as possible i will use printed money rather than cards.
     
  9. giovanniiiii

    giovanniiiii New Member
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    I still use printed money and if I were to be asked, I'd prefer it over having digital money. The thought of having actual money in my wallet makes me feel at ease. Most stores here do not accept payment by means of digital payments. Of course, for saving reasons I might use debit cards but it sure helps a lot to have a more practical means of payment, especially in a 3rd world country.
     
  10. Vinaya

    Vinaya Expert Member
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    I use plastic money (cards), virtual money (transactions through paypal), crypto currency (bitcoin) as well as paper money. Sometimes using paper money becomes must. For instance, you want to buy something from a street vendor that does not accept card, how will you pay him. You need paper money to pay him. When there is no electricity and no internet, you cannot use cards, you need cash. paper money will never go out of date.
     
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  11. Jewelweed

    Jewelweed Member
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    I like paper money for day-to-day expenses. It helps me keep my budget under control. I rarely use plastic or paypal except as a way to get cash or a way to pay online retailers. I have dabbled a little in bitcoin but don't use it seriously. I also keep a small stash of physical gold in small denominations from a gram to 5 grams each. Offering to pay in gold is a surprisingly good negotiating option even in modern society and the small denominations are easier to buy/sell for an average person.
     
  12. lonewolf

    lonewolf Legendary Survivalist Staff Member
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    paper money heck! I went to the bank today and got a load of coins, many places I go to like Sunday markets and flea sales( known as car boot sales here) only use cash, no electric for card readers in the middle of a field!!!
     
  13. greymanila

    greymanila Active Member
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    Credit cards are a big thing in our country, but I still prefer cash. I'm just paranoid about identity theft and electronic money. Also, using cash leaves less paper trail, less footprints.

    Even when we buy big ticket items like land or cars, I use cash.

    Also, I keep some gold stashed away...just in case cash loses its value.
     
  14. Ystranc

    Ystranc Master Survivalist
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    I like to carry a little emergency cash but I also use cards.
     
  15. iamawriter

    iamawriter Well-Known Member
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    Efforts are made in India to go cashless but that will not happen in a hurry as a lot of spadework needs to be put in place before digitising money transactions. I still carry cash with me although I do have debit card transactions for online and some offline shopping.
     
  16. Maria_C

    Maria_C New Member
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    Printed money will remain for as long as possible, though using cards and cashless transactions are much more convenient.
     
  17. lonewolf

    lonewolf Legendary Survivalist Staff Member
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    i believe there are plans to make us paper money less and to make all transactions by card only, there are moves afoot at the moment to do away with "cash in hand" payments.
     
  18. Rhodolite

    Rhodolite New Member
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    I keep cash on hidden on my person to be frank. Where I'm at card skimmers are everywhere and fast food employees are often on the news for using them at their workplace too. Since I'm typically dressed in a hodge podge of clothes of no known brand to them and carry an old cellphone on me, I'm generally not a target for them for theft. I only use my card for bills or online purchases with trusted sites and that's sparingly.
     
  19. streettallest

    streettallest New Member
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    You are right.Printed money is and will still continue to be the major means of exchange for a long time to come. This is because digital currencies are still new to most people, while some people are not just ready to embrace it yet.
     
  20. Humblewriter

    Humblewriter New Member
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    Yes I do! though in years to come, printed currency will go extinct and cryptocurrency like bitcoin will take over.
     
  21. BethSztruhar

    BethSztruhar Member
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    I prefer using printed money becuse believe it or not, but here a lot of places still don't take credit cards.
     
  22. overcast

    overcast Member
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    I think I have no choice on that part. I can do some of the electronic money transactions. But it takes time for those transactions to understand to some shops. As they have not yet migrated for the electronic payments. So in such case you'd find that using printed money seems to be the only option. There are bitcoins but that is not much helping the economy. So in such case people will rely on government printed money.
     
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