A recent research by the Britsh Post Office unveiled that 71% of Brits planning on going on vacation in the UK this year intends to take out cash before leaving. There have been high increase in cash deposit and withdrawals in Britain. People are going back to cash because they believe that it keeps tighter control on their spending as living costs soar.
It is believed that cash helps people budget, as using it means you literally can count the pennies. Paying with a card or crypto currency make spending easy and convenient that sometimes one tends to overspend. Sometimes one might not even know the balance of his account but with cash you are always aware of how much you have.
What do you think?
https://www.bbc.com/news/business-62437819People take cash out before traveling all the time. For the reason if credit cards get stolen or they receive transactional errors from the merchant's end, it's good to keep cash on hand. This isn't indicative of a trend back towards cash, that ship has sailed a long time ago.
I suppose it's easier to budget when you're spending actual cash instead of putting everything on credit -- I'd just caution that this sort of method doesn't apply to most folks and it certainly isn't a rebuke of cashless payment methods.