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Malcolm McDowell, Director on the Board of the International Currency Association : "The most powerful form of reinforcing a ‘save first, buy later’ mentality is to use cash."





Malcolm McDowell, Director on the Board of the International Currency Association : "The most powerful form of reinforcing a ‘save first, buy later’ mentality is to use cash."
Malcolm McDowell, a Director on the Board of the International Currency Association :

"The Australian Securities Investment Commission (ASIC) is the Australian Government department responsible for ensuring companies remain compliant with Australian financial laws, and as part of its commitment to a more financially sound society have produced a website called MoneySmart.

What is apparent to me when looking through this site is how important it is for people to set up their lives to save money, particularly from a young age.  There are some simple but effective case studies illustrating how young people have set themselves up to save enough money for a deposit, which given property prices in Australia’s capital cities, is no small feat! 

Interestingly though, all savings advice starts with a common theme – Clear Your Debts! The most common of debt is credit card debt, which often charge interest rates of 20%. The ‘buy now and pay later’ approach to spending that credit card companies and retailers have encouraged for decades has been more successful than they could have ever imagined [...]
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The cashless society from an ethical point of view

The debate about the move towards a cashless society has been at the center of the scene for several years, now. Various angles have been taken by economists, politicians, banking institutions and sociologists. Beyond the technicalities of the debate, lies the question of freedom, of inter-citizen solidarity and of governmental responsibility. The debate cannot remain in the hands of financial specialists, it is first and foremost an ethical, political and societal issue.

The cashless society from an ethical point of view









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