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-62437819This is in fact real, while technically there is no difference with the money that you spend in the form of cash and the money that is spent from your bank accounts people react very differently to it, when people spend from their online accounts it feels a lot less real than when they spend physical money, this means that it is way more difficult for them to control the amount of money they use than when they use cash, so I think it is a good idea that all of those that are having problems with their spending habits to try to use cash instead and see if that helps them out.
I also agree with this, I used to feel the same way. Spending from a bank account doesn't feel real, and we don't tend to double-check our account after paying. But with cash you will know very well the amount of money in your wallet and when you spend too much, you will feel a bit sorry when the money in your wallet runs out quickly. Honestly, using fiat allows me to have more control over the use of my bank account in my spending.