More than 5,000 people signed a petition calling for the council to reverse a decision to go cashless at its facilities.(ABC Far North: Kristy Sexton-McGrath)

[PHOTO SOURCE: https://www.abc.net.au/news/2023-04-19/online-petition-cairns-council-cashless-payments-overturned/102241700]

Australian $5- and $10-dollar notes

[PHOTO SOURCE: https://images.app.goo.gl/UtxP6QJR6cUKdBcG7]

Whenever I hear the mainstream media speaking of the world going cashless, I personally believe it is a scare story. Whenever there is a power outage, people will be screaming for cash to return. I will post a recent example from Cairns, Australia before writing my op-ed.

“I am convinced that material things can contribute a lot to making one’s life pleasant, but, basically, if you do not have very good friends and relatives who matter to you, life will be really empty and sad and material things cease to be important.” — David Rockefeller

[PHOTO SOURCE: https://quotefancy.com/quote/1387987/David-Rockefeller-I-am-convinced-that-material-things-can-contribute-a-lot-to-making-one]

Australian $5 dollar notes

[PHOTO SOURCE: https://images.app.goo.gl/iz9dbxNPZiGbcsKd7]

Australian $5 dollar notes

[PHOTO SOURCE: https://www.ebay.com.au/itm/253388378930]

Cairns Regional Council overturns decision to go cashless after residents rally

ABC Far North

By Kristy Sexton-McGrath

Posted Wednesday 19 Apr 2023 at 1:37pm

Residents of a Far North Queensland city have overturned a council decision to ban cash payments after thousands of residents rallied against the move.

Key points:

Cairns Regional Council overturns a ban on cash payments at their facilities
More than 5,000 residents signed a petition against the move
A global report finds cash continues to play a big role in most economies

Cairns Regional Council rolled out a no-cash policy at all council facilities in July last year, including at libraries, waste transfer stations, and a buy-back shop.

Locals fought against the move with more than 5,000 people signing an online petition that was presented to council last month.

Today the council reversed the decision to go cashless in a session attended by hundreds of people with an overflow room opened outside chambers to accommodate the crowds.

Supporters cheered, clapped, and hugged one another as councillors voted in favour of reintroducing cash payments at several dumps as well as introducing ticket-style vending machines to facilitate cash payments, including at the Cairns Performing Arts Complex.

Australian Banknotes $2 $5 $10

[PHOTO SOURCE: https://picclick.com.au/australian-banknotes-2-5-10-First-Prefix-285160228650.html]

Petition organiser and local resident Frankie Hogan said it was a win for the people, particularly the elderly.

"We have lived with cash for such a long time, it belongs to the people," Ms Hogan said.

"People might want to go to the buy-back shop and buy something for $2, why should they have to use their card and pay fees on top of that?

"It's not someone's right to take that away from us, especially an unelected council CEO."

Ms Hogan said many in the community were unaware of the council's plan to go cashless until her online petition started circulating.

"It was all done under the guise of COVID safety, and this thought that money is dirty," she said.

"Money is money, dirty or clean, it's our money."

$2 2020 75th Anniversary of the End of WWII Mint Roll

[PHOTO SOURCE: https://wynyardcoins.com.au/products/2-2020-75th-anniversary-of-the-end-of-wwii-mint-roll]

2017 100 Years of Anzac Aus $1 One Dollar - Spirit Lives RAM Roll only 5K made

[PHOTO SOURCE: https://www.ebay.com.au/itm/273450697674]

In a statement issued to the ABC today, the council said it had transitioned to "EFTPOS-only at some of its facilities with the intention of increasing safety, being more efficient, and reducing risk and operational costs" since 2019.

The council said it would begin the process of facilitating cash payments at their sites in “due course.”

Australia goes cashless

A new global payments report by the US-based financial technology company FIS has found that just 6 per cent of the value of point-of-sale (POS) transactions in Australia were cash.

POS transactions refer to face-to-face purchases, typically made in-store.

The report found Australians had the lowest use of cash in POS transactions in the Asia Pacific region in 2022, followed by New Zealand, China, and South Korea.

Australian $5 and $10 dollar notes

[PHOTO SOURCE: https://images.app.goo.gl/MAegzRuTwQmuQ8tUA]

However, the report noted that while cash was “no longer king, it remains essential”.

"The decline of cash continues as consumers gravitate to the ease, convenience, and safety of digital payments," the report said.

"Yet a cashless society isn't on the immediate horizon.

"Cash continues to play an essential role in most economies, accounting for over $67.6 trillion in global consumer spending in 2022."

https://www.abc.net.au/news/2023-04-19/online-petition-cairns-council-cashless-payments-overturned/102241700?utm_campaign=abc_news_web&utm_content=link&utm_medium=content_shared&utm_source=abc_news_web

Envelope Budgeting System

[PHOTO SOURCE: http://www.thedigeratilife.com/blog/home-budget-envelope-budgeting-system/]

MY OP-ED

Many people think that the world will go cashless one day but I believe this is a myth. I use to dislike using cash until one day when I went for a haircut there was a sign that said, “EFTPOS broken down, please use your cash.”

From that day onwards, I changed my mind and I begin to use cash. I felt good about it as it not only is an alternative if there is a power outage but it helps me save more money as I can calculate how much I spend.

I heard the news always having this rumor that the world will go cashless but I feel it is not true. I came across this website Cash Matters [https://www.cashmatters.org/].

Some people regret being cashless after power outage. Sweden and Japan are two examples.

Sweden was the first country to be cashless but a year later, people began to regret it and they decided to bring it back.

https://www.cashmatters.org/blog/ecb-welcomes-swedens-pro-cash-draft-law

17 Swedish towns to get new cash machines after law change

New cash machines will be installed in 17 Swedish towns after the country changed its laws to require the country’s major banks to offer cash withdrawals even in rural areas.

https://www.thelocal.se/20210309/map-17-swedish-towns-to-get-new-cash-machines-after-law-change/

Businessman counting money, japanese yen banknotes, in front of laptop computer at working desk

[PHOTO SOURCE: https://www.freepik.com/premium-photo/businessman-counting-money-japanese-yen-banknotes-front-laptop-computer-working-desk_5887107.htm]

It's not how much money you make, but how much money you keep, how hard it works for you, and how many generations you keep it for. - Robert Kiyosaki

[PHOTO SOURCE: https://www.azquotes.com/quote/527418]

https://en.wikipedia.org/wiki/Robert_Kiyosaki

https://www.richdad.com/

Japan wanted to be cashless but due to the earthquake in 2011 and also 2018, both the government and people changed their mind.

In the summer of 2018 alone, Japan experienced a myriad of natural disasters, from earthquakes, to heavy rains and typhoons both of which brought flooding to large residential and commercial areas. Each of the natural disasters came with power outages, some lasting for days. And no electricity means no electronic money. Japan’s residents are routinely advised to prepare emergency kits with essentials like food and bottled water, and one that cannot be overlooked is cash. Once again, we circle back to why there is a sense of security in having cash accessible at home.

[https://thesamuraiseven7.blogspot.com/2023/06/why-japan-still-uses-cash.html]

Despite being a country with good technology, Japanese people love using cash and will not give it up due to natural disasters and honesty where you can count the money.

In conclusion, the next time when someone tell you the world will go cashless, use Sweden and Japan as a good example.

Australian dollars and notebook

[PHOTO SOURCE: https://www.abc.net.au/news/2023-03-17/centrelink-payments-increast-northern-australia-living-costs/102089338]

“Financial discipline demands that you have a budget. Control your money. Do not let money control you. Discipline yourself to make sure that the flow of your money is going in the right direction at all times.” — Noel Jones

Man with calculator counting Australian dollars

Wealth gained hastily will dwindle, but whoever gathers little by little will increase it. – Proverbs 13:11 (ESV)

Precious treasure and oil are in a wise man's dwelling, but a foolish man devours it. – Proverbs 21:20 (ESV)

Making more money will not solve your problems if cash flow management is your problem. - Robert Kiyosaki

Your emergency fund is insurance, not an investment. It needs to be secure and easily accessible. Don't get hung up its rate of return. – Dave Ramsey

[PHOTO SOURCE: https://www.pinterest.com.au/pin/376402481327888609/]

Better to have, and not need, than to need, and not have. - Franz Kafka

Circumstances can force your hand. So think ahead! - Robert A. Heinlein

"Divide your fortune into four equal parts: stocks, real estate, bonds and gold coins. Be prepared to lose on one of them most of the time. During inflation, you will lose on bonds and win on gold and real-estate; during deflation, you lose on real estate and win on bonds, while your stocks will see you through both periods, though in a mixed fashion. Whenever performance differences cause a major imbalance, rebalance your fortunes back to the four equal parts.” – Jakob Fugger

The best ways to build an emergency fund

[PHOTO SOURCE: https://parknationalbank.com/best-ways-build-emergency-fund/]