The War on Cash is an informative piece about the battle against the cashless society. I have been cash-only for a few years, mainly for two reasons: protecting my personal information and financial discipline.
In the old days, a transaction would involve two parties: a merchant and a customer. Nowadays, barely a transaction is processed where a third, invisible party benefits — and more than by simply providing a convenient transaction process. I became more sensitive to protecting my information leading up to and in the wake of the Snowden revelations. Having worked in the online ads industry for the last three years (today is my final day, in fact), I have become even more aware of all the tracking, repackaging and reselling of personal data that goes on. Therefore, I choose to opt out of the personal information industrial complex that powers so much of our world today.
In 2010 I quit Facebook. In my browser I use prophylactic extensions like Privacy Badger. I use services that protect me and opt out of information-sharing and activity tracking wherever possible. I delete cookies.
In the real world, your credit card is your cookies.
I stopped using credit cards and refuse networked loyalty points cards. I even switched cellphone providers, once I learned how my old one was tracking me.
It is nearly impossible to live completely cash-only in this world. A few years ago reporter Janet Vertesi tried to hide her pregnancy from the “big data dragnet” and found out how difficult opting out really is.
Mine is not a perfect system, but I do what I can.
“Cash-centric” is probably a better descriptor, since I use non-cash options sometimes. Large payments (eg. rent) I pay through online debit. Online shopping can be done with anonymous, rechargeable credit cards. And sometimes I want the card companies to become aware of the services I buy or subscribe to. I want them to be aware of a specific customer segment, and I use my credit card to pay for those items. For example, every month I let Visa and all its data-sharing marketing and consumer intelligence partners know about Ogo Carshare Co-op. If they are market other co-ops to me or people like me… victory?
Productivity hack: Use notes to keep track of things
The second reason I went cash-only is related to our downsizing journey, and our attempt at financial freedom by ridding ourselves of debt. Not using credit cards is the first step, and you will find no budgeting tool works as well as a limited supply of cash in your wallet. Each payday I take out a specific budgeted amount of cash from the bank, turn most of it over to my wife to run the household with, and am left over with a very limited amount which much last me to the next payday. The scarcity is corporeal. Every time I open my wallet, I know how I am doing in regards to my budget.
It is actually a very Japanese thing to do. I remember being in Japan in the late nineties and early oughts, and agreeing with all the neoliberal riducule of Japan’s cash-centric society as being backwards and inefficient. Now I understand the value in such a system, and have adopted it here in Canada. Just like not having a Facebook account, always using cash confuses people, but it sparks some meaningful conversations.
These are the main reasons for my choice to be cash-centric. I have not touched at all upon the impact of a cashless society on minority communities and the poor, and all the other reasons to continue carrying cash until the morally right solution comes along. To learn more about these issues, there is no better place to start than the article: The War on Cash.