A Cashless Society?
With the latest click and go payment being risen to £100-00 it feels like the UK is moving more towards a cashless society but how will that impact the UK economy and the people?
With so many people dependent on cash is it a wise idea? Many of the older generation didn’t trust the banks and will have saved cash for many years and will use that instead of cards.
4% of the UK’s adult population also do not own a bank account (Parliament.uk Post May 2019) and with many thousands of homeless people without ID or the ability to get it is a cashless society even possible?
We don’t know what the future holds but it certainly looks like the government are steering the UK economy towards having a bank account for every individual in the country.
Only1 in 6 payments (the Guardian Jun 2021) is now paid in cash and it seems that is getting less with time so maybe we are not far away but we need to make sure we are ready for it.
A financial planner can help you make sure you understand your finances and set plans in motion for now and the future whilst taking into account your plans and objectives for the future. Why not get in touch with us today on 01483 654135 to book your initial consultation.