Anxious and confused: Why many older Australians are afraid of a cashless society
by David Taylor, ABC.net.au
Before I became a journo, I worked for a credit ratings agency. It was my duty to work out if our clients (companies) were likely to sink or swim in the future (financially).
It was my first full-time job, so I couldn’t wait for pay day.
The management team were old-fashioned, so after my first fortnight of work, I actually received a pay cheque. That’s right, literally, a cheque.
I suspect quite a few Australians would remember their first “pay cheque”. It’s quite a satisfying moment. You get to hold a piece of paper — effectively a note, saying, ‘thanks for all your hard work this past fortnight’.
These days of course, if you work for the government, or a medium to large-sized corporation, your bank account is automatically credited with money every two weeks, or every month (or whenever you get paid).
Given that many of us now get paid this way, it makes sense that, increasingly, this is also the way we spend money. It’s become very convenient.
Or has it? What if the idea of cyber money transfers makes you uncomfortable? Or what if it actually scares you, or makes you anxious?
Scared, anxious and uncertain
Paul Versteege is a spokesperson for the Combined Pensioners and Superannuants Association, or CPSA. The organisation provides a voice for pensioners.
I put the question straight to Mr Versteege: “Are older Australians ready for what looks like an increasingly cashless society?”
He confirmed that, from his conversation with members, many older Australians are becoming more anxious about a world with much less cash.
So what exactly is the problem? Because for some, the thought of saying goodbye to fumbling around at the cash register for that elusive $2 coin is a welcome relief.
The CPSA says it comes down to trust, wealth, and education.
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