I am a self-professed cash queen.
There’s just something about holding on to physical notes and coins that makes me feel ‘rich’ and in control of my life.
My love for cash has come to a point where my friends and colleagues treat me like their personal ATM. If we happen to be at a shop that doesn’t accept card, without even asking, they would transfer money to me via PayNow, so that I would pass them cash on the spot.
I’ve been working at SingSaver for close to two years now and given the nature of our business, I’ve been frequently schooled by my colleagues about my cash preference. The lesson almost always revolves around how I am massively missing out on cashback and air miles, and that cash is passé.
Before you pass judgement, I need to state that I am no boomer (technically a millennial) and have no qualms about using credit cards.
In fact, I do have credit cards—four, to be exact. However, they are only whipped out when I’m making large purchases (e.g. fridge, laptop, television, etc.) or shopping online, to leverage on exclusive dining discounts or on the rare occasion when I do not have cash.
To be absolutely honest, the main reason why I consciously choose to make my purchases in cash is because it is deducted immediately, which then helps me stay on top of my budget.
In order to prove to my friends and colleagues that cash is undoubtedly king, I decided to embark on a week-long cash cleanse to find out what all the fuss is about and if there’s really more to gain by using cards.
To ensure that I
don’t cheat get the full cashless experience, I came up with a few rules to guide me on this arduous cleanse.
Cash cleanse rules:
- No physical cash is to be used or exchanged during the week. This includes paying for drinks at coffee shops and groceries at the wet market, and friends returning me money for items that I had paid for first (e.g. dinners, drinks, etc.).
- As much as possible, transactions should be made via mobile wallet, charged to a credit card and not require me to reach for my actual wallet.
- I am to figure out everything on my own, from set-up to actual payment, with only Google as my north star.
And with that, here’s how my week-long cash cleanse went.