Is Cash A Waste Of Money?

Tom @ The Tapin TeamBlogLeave a Comment

Alternative Payment Types #PromoteYourself

When Was the Last time you used Cash?

Do you still need to pay Cash?

The last time I payed with cash, was to have a hair cut. After paying cash recently I realized, how costly and inconvenient using paper money really is. On a regular basis i get a haircut, a haircut for me is £12.50 (there isn’t much left to cut). I took £20 out of the ATM, the Barbour gave £7.50 change. So nothing is a problem yet… Alas, now im walking around and think what can i do with £7.50? We all know how far £10 gets us in the real world.

Unless I am willing to hold on to that £7.50, and put it in a jar at home for savings, or wait until I use it to fill up at a gas station. That change is going to burn a hole in my pocket (i am sure im not the only one).
Chances are; £2.50 for a coffee and £2.50 for a muffin, roughly, I’m now left with £2.50. One guess where that is… I dont even know! So i can safely say i have just wasted potentially £2.50.

So to summarize, I used to unknowingly leak money to add to all the wasted change out there. Today, I am a lot more cash rich, by using my PayPal or Apple Pay I use money to the penny with no wastage. If you choose your establishments more wisely, you could go longer periods of time without seeing a single penny, and using exactly what you need.

Do you need cash anymore?

Do you really need cash any more…? In 2015, 52% of payments were made using digital payments. Food shopping, night on the town, online buying, local retail stores, filling up your car, even your local corner shop/convenient store now. If you think about, where your going and what your doing, you never need to use cash.

Sellers of any kind, in any industry, are turning towards cashless payment. This can be good or bad depending on your industry, and your love of cash… With companies developing perfecting technologies to allow the Self employed, Trades people, contractors, who come round to clean your oven, to be paid using a reader to your mobile phone, they are, not only making our lives more convenient, they are making our lives safer. Less Cash, Less Crime – seems to be the term of the day in this respect.
Maybe we should take a leaf out of Sweden’s book, the most cashless country in the world.

What are the alternatives?

There are a good amount of alternatives out there with different features. Below is a list in no particular order that we see more often these days;

The 4 digital payment methods above are, getting used more and more on a daily basis, and they all have their place. Amazon Pay and Google Pay, are online payment options. Where as PayPal and Apple Pay, are big players across the board. You will be torn between them Apple Pay and PayPal these days when, paying for your dinner in a restaurant or, your clothes in a store.

Why we recommend PayPal #PromoteYourself?

The Tapin Team recommend PayPal for many reasons. One of the biggest, security and fraud support. When you have an engineer come to fix your boiler, it is easier and safer to go online, or use an app on your phone, and transfer money from your PayPal to the engineers. Even if you dont have PayPal, with the PayPal Readers a sellers can except touch, pin or swipe, so you can pay using card, directly to there PayPal Account.
The safety that this creates with not having cash in the house is a big deterrent for the opportunist.

Author, The Tapin Team

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