Seven reasons why one's should always carry cash

How much cash do you keep in your wallet?

We are quickly becoming a cashless society with credit cards and digital transactions becoming the primary forms of money transfer. Even Starbucks continues to play with the idea of a completely cashless store that only accepts credit cards and mobile apps.

More and more people don’t carry cash anymore. When going out, we take our phone, ID, and credit card. With those, you can pretty much pay for anything. Even then, credit cards are becoming obsolete as phones nowadays can handle most payments.

As people continue their unknowing war on cash, the biggest winners are the four major financial institutions MasterCard, Visa, PayPal and Square. I find myself regularly reminding friends to continue to at least keep some cash on them for the following reasons.

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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.

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