{"id":17,"date":"2023-10-05T08:07:00","date_gmt":"2023-10-05T08:07:00","guid":{"rendered":"https:\/\/www.annmariematthews.co.uk\/?p=17"},"modified":"2023-08-04T08:08:14","modified_gmt":"2023-08-04T08:08:14","slug":"managing-finances-in-a-contactless-society","status":"publish","type":"post","link":"https:\/\/www.annmariematthews.co.uk\/index.php\/2023\/10\/05\/managing-finances-in-a-contactless-society\/","title":{"rendered":"Managing finances in a contactless society"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">In March 2019 the&nbsp;Access to Cash Review confirmed how quickly things are changing when it comes to cash: 10 years ago, 6 out of every 10 transactions were cash. Now it\u2019s 3 in 10. And in 15 years\u2019 time, it is predicted that it could be as low as 1 in 10.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">We increasingly use digital finance on a daily basis, ie, telephone or online banking or contactless payments in shops.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The increased reluctance to handle cash in the current pendemic has sped-up the switch to a more cashless society but this does risk leaving older and more vulnerable people behind.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The Access to Cash Review highlighted that 17% of the UK population (over 8 million adults) would struggle to cope in a cashless society for reasons such as risks of isolation, exploitation, debt and rising costs.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The groups of society which have been identified as being disadvantaged by a cashless society include:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Those with physical and mental issues;<\/li>\n\n\n\n<li>Those with a risk of overspending and going into debt;<\/li>\n\n\n\n<li>Those who rely on others to buy things for them;<\/li>\n\n\n\n<li>Those in rural communities with little or poor broadband connections;<\/li>\n\n\n\n<li>Those who cannot provide proof of their identity to a bank or financial services provider.<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">We know that people living with Alzheimer\u2019s often find change extremely scary. They often choose to use cash because they are worried about holding up a queue if they cannot remember their PIN.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In a move towards a potentially cashless society, there can be substantial disadvantages for individuals and groups. &nbsp;This means it is more important than ever for people to have help with their financial wellbeing. But this comes with its own complications.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">One of the best ways to navigate these complications in a safe and transparent way is through a Lasting Power of Attorney (LPA). An LPA allows for decisions to be made regarding finances and\/or health decisions on someone\u2019s behalf during their lifetime.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In March 2019 the&nbsp;Access to Cash Review confirmed how quickly things are changing when it comes to cash: 10 years ago, 6 out of every 10 transactions were cash. Now it\u2019s 3 in 10. And in 15 years\u2019 time, it is predicted that it could be as low as 1 in 10. We increasingly use [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-17","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/www.annmariematthews.co.uk\/index.php\/wp-json\/wp\/v2\/posts\/17","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.annmariematthews.co.uk\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.annmariematthews.co.uk\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.annmariematthews.co.uk\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.annmariematthews.co.uk\/index.php\/wp-json\/wp\/v2\/comments?post=17"}],"version-history":[{"count":1,"href":"https:\/\/www.annmariematthews.co.uk\/index.php\/wp-json\/wp\/v2\/posts\/17\/revisions"}],"predecessor-version":[{"id":18,"href":"https:\/\/www.annmariematthews.co.uk\/index.php\/wp-json\/wp\/v2\/posts\/17\/revisions\/18"}],"wp:attachment":[{"href":"https:\/\/www.annmariematthews.co.uk\/index.php\/wp-json\/wp\/v2\/media?parent=17"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.annmariematthews.co.uk\/index.php\/wp-json\/wp\/v2\/categories?post=17"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.annmariematthews.co.uk\/index.php\/wp-json\/wp\/v2\/tags?post=17"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}