231–240 of 421 posts
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Denial is a common coping mechanism about the ever growing corporate surveillance state and all the ways its power may (and thus eventually will) be wielded to further economically disenfranchise most people.
So yes big corp is going to go out of its way to make it harder for people to give it money?
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Coins last much longer in circulation than bills, a coin can last decades while a bill only lasts a few years so some estimates put the yearly savings at 500-700 million a year in printing, paper, etc costs saved. It's worked just fine in other places they just had the courage to phase out printing of paper bills to force the issue. People would adapt quickly given no option but the soft handed approach basically gua…
US notes are much more durable than most other countries’, and last much longer in circulation. The fed has calculated that the seignorage vs. printing costs of switching to coins about balance out for dollars. Pennies however: we keep them just for nostalgia.
[0] The $1 notes also go through a lot more use in their life so they degrade much quicker iirc and a bit over 40% of the bills in circulation are $1 bills too so switching over to a coin that lasts decades instead of 6-7 years (https://www.federalreserve.gov/faqs/how-long-is-the-life-spa...) would really cut down on printing costs.
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Rely on what that couldn't be better served by $1 coins?
Coins are simply worse than bills. They're too thick for something you'd be keeping mainly in your wallet or pocket.
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My 2FA is my face… So the people who are too lazy to check their app are okay with going to an ATM? If I start overspending, I get alerts both when my balance gets low and when money is deducted from my savings account used as overdraft. I rarely get to that point and even when I do, I catch it before the offending transaction posts.
> My 2FA is my face… You have your threat model and I have mine. https://discussions.apple.com/thread/254303493?sortBy=rank Not enabling biometrics in the banking app means adding FaceID isn't enough. ¯\_(ツ)_/¯ > So the people who are too lazy to check their app are okay with going to an ATM? If we're at the point we're calling people names I'm not sure further discussion will be productive. The ATM is on the way to…
Apple mitigated that issue last year.
https://support.apple.com/en-us/120340
> The ATM is on the way to the subway (which has poor reception), and we're talking about once a month here.
And my phone is always on my person. You don’t need “reception” to use your debit card.
> Changing habits to spend less money works by using cash works in a way that I couldn't get to work with a debit/credit card
And yet my 80 year old mom can as far as debit cards and my 82 year old dad just started using Apple Pay. He had a really old Android before that couldn’t use Google Pay
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it's way easier (for some people) to go to the ATM once a month and then have a physical pile of money you're using, ams physically see how much you're spending and adjust habits. A digital card that looks the same all month when you pull it out of your wallet has no such quality and is a basically scam on certain kinds of people to get them to spend more money.
That is far too generalised for my taste. There are just as many people which tend to spend all the cash they have in their wallet because it isn’t on their account anymore, so it’s ”spent already anyway“, and vastly prefer keeping the tabs on their banking app, which provides a proper overview of their finances—no calculations and counting necessary. Maybe it’s just an age thing?
Taking the amount budgeted for petty cash means you only spend that much "that's spent already", which makes it easier to stick to a budget (because you can't spend cash you're not holding). if the problem is overspending, and there's a budget, there's not generally a problem with underspending that amount, so the idea that it forces more spending isn't a problem (for some people).
Given news reports that (some people in) GenZ has trouble after joining the workforce with computer skills later generations take for granted, and other reports on how much GenZ is unable to save, I doubt it's an age thing. Some people are just better with physical objects vs digital. (Some people do just deal with it just fine, mind you.)
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To pile on the battery issue, we had some very severe storms in my area that took down power for days and internet for weeks. Credit card processing was not possible for gas stations during that time period, but the pumps worked when the power came back on. The only way you could fill up at those stations was with cash. It doesn't happen every day, but it does happen, and perhaps more importantly could be made to hap…
And during the severe thunderstorms in Florida when everyone was coming to Orlando, places ran out of gas. We had an EV and charged at home. Are you going to get an EV too? Yes we keep some cash because we travel a lot and use cash for tips.
Having an electric vehicle is NOT the benefit you think it is here.
You could just as easily have an internal combustion engine and spare fuel tanks. My car holds about 12 gallons of fuel and I have three 5-gallon fuel jugs ready to do. I use the fuel jugs for my lawnmower to keep the fuel fresh, but the jugs serve just as well during an emergency. And the benefit over an electric vehicle: I can put the fuel jugs into the tank or the trunk and just go.
If your EV is drained... good luck getting it charged when you're given an evacuation order.
Places running out of gas? That's a consequence of poor planning or a just-in-time economy (take your pick) on the gas stations, and a consequence of poor planning or a just-in-time economy on the people buying fuel from gas stations when they should have fueled up before the emergency.
Not everyone can buy fuel jugs. Good luck storing fuel jugs anywhere safe when you're living in an urban environment. It's the same for EV batteries too.
Why is the US one of the few countries that can't keep a consistent design across their bills and still does not have a way for blind people to identify which note they have. They are all the same size and have no embossed markings.
The thing I cannot fathom is why quarters are so huge, considering they’re nearly valueless. Then you need whole stacks of $1 bills to pay anything relevant. I find both constantly cluttering up my wallet.
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https://www.nerdwallet.com/article/credit-cards/credit-cards... People spend more money and tip higher when they use credit cards than cash….
And you think that's a good thing?
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That is far too generalised for my taste. There are just as many people which tend to spend all the cash they have in their wallet because it isn’t on their account anymore, so it’s ”spent already anyway“, and vastly prefer keeping the tabs on their banking app, which provides a proper overview of their finances—no calculations and counting necessary. Maybe it’s just an age thing?
Okay. I added "for some people" to my original comment. Hope that helps. Taking the amount budgeted for petty cash means you only spend that much "that's spent already", which makes it easier to stick to a budget (because you can't spend cash you're not holding). if the problem is overspending, and there's a budget, there's not generally a problem with underspending that amount, so the idea that it forces more spendi…
My (step)son has had his own bank account - joint with myself and my wife since he was 9 years old. I transferred his allowance to it. Before he was 12, he had to ask us for his balance - which he did frequently - because he couldn’t get his own sign in.
Since then, he has had his own sign in. He is 22 now and we still have the same joint account with him.
It has overdraft protection to a savings account with $500 in it that we all use for overdraft protection.
I know he checks his account often because when it does slightly overdraft and things are pending. He transfers money from his own savings account that is separate from ours to catch it.
I taught him good money habits from the day that we became a family.
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So yes big corp is going to go out of its way to make it harder for people to give it money?
I have no idea what you're alluding to. Perhaps you need to increase the scope of your analysis?
Is Big Corp really going out of its way to “disenfranchise” consumers to make it harder to give them money?