Post
Topic
Board Economics
Re: Is Cash (Paper Money) Still King?
by
lizarder
on 23/12/2024, 10:04:06 UTC
In my country I think that this is a trend between, at least, Millenials, who boast that they don't need cash, and wave their cards as if they were smarter than those who use coins and bills Roll Eyes
Almost all countries experience this kind of thing and the millennial generation indeed shows the most such attitude because they think as if they are smarter because they are influenced by the sophistication of technology. But the funny thing is they are not able to make money, but expect everything from their parents and even they have to be financed in everything.

They use them even to for a cup of coffee, not knowing that 1) the vendor has to pay a few cents to Visa/Master card/whatever, which is deducted directly from his profit, and 2) that they are creating data that may be used or sold to their detriment.

The convenience of using cards will be expensive in the long term.
Regardless of the costs that need to be incurred or the level of harm to the data they use, it does not show anything because all they think about is convenience. That is why most millennials do not understand the impact but all they think about is the ease of use. In fact, their parents have to earn money in a much harder way just to cover the expenses they spend.

This phenomenon occurs everywhere and the use of Visa/Master cards is as if it were a necessity and never thinks about its effects. But back to the essence of the discussion that the use of paper money has indeed decreased every year because there are other conveniences available.