{"id":4952,"date":"2016-11-09T10:44:58","date_gmt":"2016-11-09T15:44:58","guid":{"rendered":"https:\/\/www.afcpe.org\/?p=4952"},"modified":"2019-04-23T15:44:19","modified_gmt":"2019-04-23T19:44:19","slug":"cash-or-no-cash","status":"publish","type":"post","link":"https:\/\/www.afcpe.org\/news-and-publications\/blog\/cash-or-no-cash\/","title":{"rendered":"Cash or No Cash?"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"4952\" class=\"elementor elementor-4952 elementor-bc-flex-widget\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<section class=\"has_eae_slider elementor-section elementor-top-section elementor-element elementor-element-13e9eba3 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-eae-slider=\"81884\" data-id=\"13e9eba3\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"has_eae_slider elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-1c85d69\" data-eae-slider=\"88331\" data-id=\"1c85d69\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<section class=\"has_eae_slider elementor-section elementor-inner-section elementor-element elementor-element-6fcf31f1 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-eae-slider=\"43288\" data-id=\"6fcf31f1\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"has_eae_slider elementor-column elementor-col-66 elementor-inner-column elementor-element elementor-element-7f80bab\" data-eae-slider=\"78312\" data-id=\"7f80bab\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-4289f55f elementor-widget elementor-widget-text-editor\" data-id=\"4289f55f\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Being stationed overseas provides exposure to a different financial attitude. We are stationed in Germany where, even today, one of the corps\u2019 values is \u201cto save.\u201d An old German saying \u201cNur Bares ist Wahres\u201d &#8212; only cash is true &#8212; underlines another German virtue \u2013 paying with cash. Even though the use of debit and credit cards, as well as smart phones, is becoming more popular, according to an article from the newspaper \u201cDie Welt \u2013 Beim Bezahlen sind die Deutschen Fundamentalisten\u201d published March 19, 2015, in 2014 over 50% of German transactions were done in cash.<\/p><p>Over the last few years, bank CEOs and other prestigious business men have predicted that cash will sooner or later be a payment instrument of the past. So, is a world without cash a horror scenario or the future?<\/p><p><strong>The Pros of a Cashless Society:<\/strong><\/p><ul><li>Less Economic Burden: For the economy coin money and banknotes are very expensive, not only to print but to keep available (i.e. at ATMS, cash registers, etc). Cash travels several thousand kilometers\/miles per year in cash transports.<\/li><li>More Sanitary: For some, cash is unsanitary, especially paper bills. Therefore, paying with cards or through other electronic means is a cleaner alternative.<\/li><li>Less Physical Crime: A cashless society could potentially lead to a reduction in criminal activity, since no coin money or bills would be available for robberies at the register of a gas station or with the cab driver. Alternatively, online crime would probably increase. However, money is often easier to retrieve with no cash transactions (i.e. credit card payment disputes). In a cashless society money laundering would be a business of the past.<\/li><li>More Convenient Travel: With no foreign bills and coins to exchange, traveling and spending in foreign countries would be more convenient. No longer would you return home with surplus coins or bills that you did not exchange because the amount was too small to justify an exchange fee.<\/li><\/ul><p><strong>The Cons of a Cashless Society:<\/strong><\/p><ul><li>Loss of Independence &amp; Anonymity: Paying with cash allows you to remain anonymous. You do not leave a data trail as you would with other forms of payment (i.e. a credit card). That said, this information is often collected and used by companies to target you as a potential client, and not always in a positive way.<\/li><li>What about the unbanked? Anyone can use cash. You do not need to sign a contractual obligation. It is not tied to your financial health or credit score if you have it in your pocket you may spend it.<\/li><li>Higher Potential to Overspend. An advantage of cash is that only what is in your wallet can be spent. Cash allows you an on the spot tracking opportunity and control over your money situation.<\/li><li>Technical Inconveniences: How often have you seen the signs at stores or gas stations that credit or credit cards transactions cannot be processed at this time? If you have cash, no problem. At the millennium, everyone was worried about black outs, computer crashes, data dumps. With cash, technical inconvenience is not an issue.<\/li><li>Fees: Credit cards cost organizations additional fees, and these fees are particularly relevant for small business owners.<\/li><\/ul><p>Nobody knows what the future will bring, electronic devices, availability and the search for convenience are on the rise. For consumer\u2019s cash has two big advantages: independence and freedom.<\/p><p>As with all things, there are two sides to a coin. We will have to wait and see which side it will land on and what the future of cash will bring.<\/p><p><b>Guest Contributor:<\/b>\u00a0Doris Koepp, AFC<strong><sup><span style=\"font-size: small;\">\u00ae<\/span><\/sup><\/strong><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"has_eae_slider elementor-column elementor-col-33 elementor-inner-column elementor-element elementor-element-392af5b5\" data-eae-slider=\"17858\" data-id=\"392af5b5\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-22b3fbab elementor-widget elementor-widget-image-gallery\" data-id=\"22b3fbab\" data-element_type=\"widget\" data-widget_type=\"image-gallery.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-image-gallery\">\n\t\t\t<div id='gallery-1' class='gallery galleryid-4952 gallery-columns-1 gallery-size-full'><figure class='gallery-item'>\n\t\t\t<div class='gallery-icon landscape'>\n\t\t\t\t<a data-elementor-open-lightbox=\"no\" href='https:\/\/www.afcpe.org\/wp-content\/uploads\/2018\/10\/money.jpg'><img decoding=\"async\" width=\"240\" height=\"180\" src=\"https:\/\/www.afcpe.org\/wp-content\/uploads\/2018\/10\/money.jpg\" class=\"attachment-full size-full\" alt=\"\" \/><\/a>\n\t\t\t<\/div><\/figure>\n\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2016c793 elementor-widget elementor-widget-text-editor\" data-id=\"2016c793\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<h4><span style=\"color: #5d89b3;\">November 09, 2016<\/span><\/h4>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"has_eae_slider elementor-section elementor-top-section elementor-element elementor-element-69590a0f elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-eae-slider=\"32080\" data-id=\"69590a0f\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"has_eae_slider elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-47898c38\" data-eae-slider=\"85898\" data-id=\"47898c38\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Being stationed overseas provides exposure to a different financial attitude. We are stationed in Germany where, even today, one of the corps\u2019 values is \u201cto save.\u201d An old German saying \u201cNur Bares ist Wahres\u201d &#8212; only cash is true &#8212; underlines another German virtue \u2013 paying with cash. Even though the use of debit and credit cards, as well as [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":4953,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_cbd_carousel_blocks":"[]","_relevanssi_hide_post":"","_relevanssi_hide_content":"","_relevanssi_pin_for_all":"","_relevanssi_pin_keywords":"","_relevanssi_unpin_keywords":"","_relevanssi_related_keywords":"","_relevanssi_related_include_ids":"","_relevanssi_related_exclude_ids":"","_relevanssi_related_no_append":"","_relevanssi_related_not_related":"","_relevanssi_related_posts":"","_relevanssi_noindex_reason":"","footnotes":""},"categories":[1],"tags":[22],"class_list":["post-4952","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized","tag-personal-finance"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Cash or No Cash? - AFCPE<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.afcpe.org\/news-and-publications\/blog\/cash-or-no-cash\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Cash or No Cash? - AFCPE\" \/>\n<meta property=\"og:description\" content=\"Being stationed overseas provides exposure to a different financial attitude. We are stationed in Germany where, even today, one of the corps\u2019 values is \u201cto save.\u201d An old German saying \u201cNur Bares ist Wahres\u201d &#8212; only cash is true &#8212; underlines another German virtue \u2013 paying with cash. 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