When my editor asked me to go old-school and only use cash for a weekend to test whether it’s impossible or a breeze to live without digital payments, my response was: “I don’t even know where my debit card is.”
As I rifled around in the pockets of various pants and bags in search of it, I found $115 shoved into a red Christmas envelope. Then, in another pocket, my card.
The whereabouts of both had remained long forgotten because I am one of the many Australians who rarely uses cash. Last year, a report found Australians are among the least likely in the world to pay with cash, representing just 6% of the value of point-of-sale transactions.
Some businesses have gone cashless, drawing fierce backlash from some. One Facebook group with 55,000 members launched last year with the sole purpose of identifying and boycotting businesses that refuse cash. In February, the federal MP Bob Katter intensified his personal war against a cashless society after he found he couldn’t pay cash for his fish and vegetable lunch at a Parliament House cafe.
So, how hard is it to live off cash alone?
The first hurdle, after I tracked down an ATM, was the bus. When I moved to Sydney from Melbourne two years ago, I was so thrilled to learn that commuters can tap on to transport using a bank card that I never bothered to buy an Opal card. But using cash meant buying one. Luckily, the newsagents near my house sold them and took cash.
My second hurdle also involved transport. This time attempting to get home from a friend’s house at midnight on Saturday night. Unable to use cash to pay for the usual way I’d get home at that time – a ride-hailing app – I opted for a taxi. I clicked a “cash” payment method when I ordered the taxi, and it arrived in minutes.
Over the course of the weekend I tried my usual spots – coffee shop, fruit and vegetable store and the pool – sheepishly asking if they took cash and expecting a no. But they all did.
After I handed the owner of the fruit and vegetable shop I frequent $40 to pay for the $31.10 price of my groceries, he asked if I had $1.10 in change. I didn’t, so he gave me a discount and handed me $10 back.
I asked if he preferred people using card over cash, but he said he preferred cash – it let him pay his suppliers sooner and gave him a better grasp on how much he’d earned for the day – and he didn’t face any transaction fees.
Usually if I spend under $10 he’ll add 20c to the charge to help cover the transaction fees. It’s these little costs with each tap that can add up, with businesses able to charge a surcharge for those paying by card.
In my wallet was the budget I suspected I’d need for the weekend so I could avoid having to track down an ATM again.
Last time my wallet had this much cash was when I worked a cash-in-hand job to supplement my youth allowance payments. This was always a helpful budgeting tool, with my youth allowance payments going towards rent and bills, and the cash towards activities and expenses. Research shows that cash does increase savings by reducing impulsivity.
Once again having cash in my wallet, I noticed I was more aware of how much money I had, and I didn’t blow my budget.
The verdict is I managed to use cash without any hiccups, and hopefully it stays that way.