In summary Patrick Collinson, the author, emphasised that with cash there is tighter control between the consumption and purchasing. , accentuating the pain of paying. This is not dissimilar to breaking into a $50 note: the next thing you know it's gone and all that is is a few bits of heavy change and if lucky maybe a gold coin or two.
There's a buffer between buying and the pain associated by means of the credit card or whatever plastic you use. It's a "buy now, pay later"syndrome which delays the crunch and "ouch"factor of the bill.
The trouble with cash is ithat once in your pocket, it tends to disappear, vanish.. This I'll willingly admit ismy downfall. I rarely have cash on me for that very reason but find myself in all sorts of strife when boarding a bus, many of which are pre-pay, or buying a newspaper although with the way things are going newspapers will be up there with the best of our daily needs in terms of expense.
Cash is also a far more telling sign of a person's wealth. I can recall when first starting out barely having two pennies to rub together but once a month I would treat myself to a meal in a restaurant , one of which cost a bit more that I had anticipated. I left behind something like 20c as a tip, in change. As I walked out of the door the waiter called out from behind me "You've left your bus money behind!"
Probably the best use of credit cards is as a cash flow adjustment or when purchasing larger items and amounts where the card offers some protection in terms of returns, guarantees etc etc.
Whatever it is , cards versus cash will become less and less of a problem as we all move towards credit , bit coins (never understood those) or maybe even bartering.
