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The numerous drawbacks of cashless society





You may have seen the Facebook (see bottom of post) post going around on social media that went viral about the fears of a cashless society. Many are posting that this post was a rant from the personal finance guru Dave Ramsey, however Ramsey is not taking credit for the post.

At first thought, a cashless society may sound like a good idea. No more having to carry around paper money or coins, you’re less likely to lose your cash or even less-likely to get robbed, right?

And for most of us, we may have already started moving in that direction without even realizing it. Think about how much more we use send money through mobile apps or even how much more we shop online with a card versus just five years ago.

The question you may be asking is what are the disadvantages of living in a cashless society?

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Go Further

Australia likes cash - 09/11/2020

Why cash is needed - 07/19/2020

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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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