Do you still carry cash?

[jim8flog]

What do you have on Bacon & sausage smart arse?

Should it brown on the top and red underneath or red on top and brown underneath.

 

[Pin-seeker]

Should it brown on the top and red underneath or red on top and brown underneath.

It’s an age old question & not one I’m qualified to answer

 

[Pin-seeker]

What’s the crack with Monzo card?
How does it work?

 

[Hobbit]

I pay for almost everything with cash. Can’t remember the last time I used a card. I know how much I can spend every week and I know how much is left for the week on any given day.

Mrs H uses her card for almost everything. By Thursday she hasn’t a clue what she’s spent nor what she has left.

 

[Bunkermagnet]

What’s the crack with Monzo card?
How does it work?

Probably very similar to Starling Bank and their card. You can allocate spaces, where the money is protected for certain things....such as your kids, a project or whatever.
And you earn interest on your money with them.

 

[Pin-seeker]

Probably very similar to Starling Bank and their card. You can allocate spaces, where the money is protected for certain things....such as your kids, a project or whatever.
And you earn interest on your money with them.

Sounds too complicated for me.
I just have a standing order that goes into a savings account.

 

[Hobbit]

Sounds too complicated for me.
I just have a standing order that goes into a savings account.

OMG! Not heard of a standing order for years!

 

[Pin-seeker]

OMG! Not heard of a standing order for years!

I’m old school
Isn’t that what it’s called these days?
Set amount goes from my main account to a savings.

 

[PJ87]

OMG! Not heard of a standing order for years!

Really? I use them 1st of every month to put the money in the correct accounts

I do most manually as I'm paid 4 weekly

 

[Bunkermagnet]

I’m old school
Isn’t that what it’s called these days?
Set amount goes from my main account to a savings.

You can do that with Starling, but the account is an offshoot of your main account. It works very well, and is dead easy to manage.

 

[Pin-seeker]

You can do that with Starling, but the account is an offshoot of your main account. It works very well, and is dead easy to manage.

Sorry if I’m being stupid,but what’s the advantages?

 

[PJ87]

Sorry if I’m being stupid,but what’s the advantages?

The "pockets" system on there is very very good

I've got 5 current accounts with 4 banks. So I don't use Monzo but I set up my system before it came out

Basically these pockets can be set up instantly

So if you want to go say on holiday and you want to put cash aside, make a little holiday fund and it's instantly set up ready to use rather than opening another savings account or pooling all your savings and the holiday fund getting lost in general savings

 

[Pin-seeker]

The "pockets" system on there is very very good

I've got 5 current accounts with 4 banks. So I don't use Monzo but I set up my system before it came out

Basically these pockets can be set up instantly

So if you want to go say on holiday and you want to put cash aside, make a little holiday fund and it's instantly set up ready to use rather than opening another savings account or pooling all your savings and the holiday fund getting lost in general savings

Is there a charge for it?

 

[PJ87]

Is there a charge for it?

Na it's free to use , you can pay for premium like most banks but basic current account is free

Good option to have for a second bank

After @Mudball experience of being kicked out his bank I'd strongly recommend everyone to have a back up bank account they can use if anything happens to the main one

 

[Bunkermagnet]

Is there a charge for it?

No, its free as is a Starling Bank personal account.

 

[Fade and Die]

I always carry cash and use it where I can, I can also tappy tap if needed on the phone or plastics, I get annoyed when places only take card or only take cash, you should always be able to pay any way you like.

Loved it when the local Sainsbury’s recently suffered from a cyber attack and you couldn’t use your card… “Cash only I’m afraid” lamented the 19 year old store manager as I walked in “and I’m afraid the cash machine outside has run out!” he sobbed… No problem for competent types.

And I’d just like to say that it’s Tomato sauce for every sandwich except bacon and mushroom, that just has to be HP.

 

[Tashyboy]

I mainly use cash. It is much easier to budget if you have a certain amount of cash per week/month. You are more aware of how much you are spending and when the weekly/monthly cash runs out you realise how much you have spent. Using a credit/debit card and looking at my bank statement, I don't have a clue who the payments are for.

One other thing with this. I think if something is say £50. For me handing over £50 cash tends to give me a bit more perspective on the value of something. Rather than just seeing numbers come up on a screen.

 

[Pin-seeker]

One other thing with this. I think if something is say £50. For me handing over £50 cash tends to give me a bit more perspective on the value of something. Rather than just seeing numbers come up on a screen.

Yep especially after a few beers.
Use to go out with £100 & you knew how much you’d spent,knew how much you needed to save for a kebab a taxi home.

 

[Fade and Die]

One other thing with this. I think if something is say £50. For me handing over £50 cash tends to give me a bit more perspective on the value of something. Rather than just seeing numbers come up on a screen.

When we stopped getting paid in cash it just encouraged people to get into debt via overdrafts and credit cards.
Getting paid weekly in cash made you more responsible with money, if you got £60 on a Friday (supervisor would bring the wages out in little envelopes at about 3pm and we would bugger off home as soon as he left ) it had to last the week, so if you went a bit crazy over the weekend and come Monday you only had £15 left you had to make it last.

 

[Pin-seeker]

The powers that be want us all going cashless.
They know exactly what we’re all doing then.