The phrase “cash is king” has been around forever, but today that is changing and a lot faster than you may realize. Around the world, the financial community is gearing up to make cash a thing of the past. Countries are depending more and more on technology and their citizens depend more on electronic methods to handle day-to-day methods of shopping and paying bills. Are we heading toward a cashless world?
Back in my parents’ day, when a person got paid each week, they used the “envelope system” and put their cash in envelopes earmarked for their spending and bill paying. It was a simple system and made it easy to deal with their money each week to make it until the next paycheck. But the technological changes in the last few decades have fostered a new way of looking at cash, and with very good reasons.Continue reading“Are We Heading Toward a Cashless World?”