Cashless living makes life even more wasteful? It could be yes, if you don’t have good financial management. With the development of financial technology, of course the method of management cannot be the same as in the past, which still used an envelope system.
Important note, if you don’t start planning now, your financial health could get worse. Then, what is the wise way to live life in the era of a cashless society?
Living in the digital era as it is today has also changed people’s lifestyles in terms of managing their finances. A cashless society is a term known as a society that conducts financial transactions using a non-cash method.
In Indonesia, the Bank has started campaigning for a non-cash national movement since August 2014. Until 2018, non-cash users also increased and even grew by more than 60% over the past year.
Without cash, payment transactions take place electronically. In Indonesia, there are many types of non-cash payment facilities ranging from electronic wallets, debit cards, online loans and credit cards.
The main advantage of cashless living is, of course, the convenience and security of saving money. Just imagine, without having to move locations, you can already make payment transactions for almost all needs.
In financial planning, the advantage of cashless living is that it is easy to analyze. Many people ask where the income goes every month. Actually it is highly recommended because almost all expenditure transactions have records so that practical financial check-ups can be done every month.
With the help of the application, you can compare between your monthly budget and actual usage. Thus, it can be seen that the biggest financial leakage comes from which post.
However, it turns out that the convenience of cashless living has also had quite a significant impact, namely encouraging people to become more consumptive. There are almost no goods and services that cannot be purchased. Late night hungry stomach? Just order online.
Want to buy the latest gadgets? All you have to do is buy and repay with an online loan. Or suddenly want a vacation? You can buy and even pay for it later. Does this also happen to you?
When spending cash, one generally feels the pain of taking out physical money from the wallet, namely sadness because the bills are reduced. However, with non-cash, someone just swipes the card, taps the bar code, or just clicks and the transaction occurs immediately.