Good morning Dinks.  I have a lot to say today because there is something happening in our financial world and I’m just not sure how I feel about it.  Let me ask you a question, how much money do you have on you right now, in your pockets, in your wallet and in your home? Now think about a world without the option of having cash.  Would you be happier?

As a former bank employee I can’t imagine a world without cash, because as they say (and by they I mean the Wu Tang Clan) cash rules everything around me.  I don’t admittedly carry a lot of cash on me at any given time, but I think that I would like to have the option…I think.  Actually I’m not sure if that’s true.

I think that I would be happy to live in a world without cash if everyone lived the same way.  It would be tough to commit to a world without money if we didn’t have the full commitment from everyone and everything from taxi cabs.  I would also be on board for a world without actually physical cash if our world was just as efficient without it.  Although I’m not sure how that would work.

Let’s consider the options, shall we…

The New Bitcoin Virtual Money.  I am not totally sold on this concept yet because with debit cards, PayPal and electronic transfers I feel that money can already be virtual if we want it to be. The question to ask is do people really want to live in a world with virtual money.  I would love to hear what you think about it.  Have you started using Bitcoin? If so, do you love it or hate it?

The Good Ol’ Barter System.  I am personally all about the barter system.  I think it’s a great monetary system without having to worry about actual money.  I know that some people don’t believe in the barter system because they want to know the actual market value of their items, but that’s not what the barter system is all about.  I don’t necessarily think every single trade has to be worth the same value as the exchange because that’s not what the barter system is about; it’s about people exchanging an item that they don’t want for an item they do want.

Strictly Cash Only.  The thought of having to pay cash for absolutely everything in life from coffee and bubble gum to rent and groceries really scares me.  I don’t like carrying cash in my wallet because if you carry cash you can lose it.  I found $5 on the street yesterday and although I did pick it up, I would be really upset if I lost any money, even $5.  Whenever I do pay for something with cash and the cashier gives me change I always double count it to make sure that I’m not being scrimped on my own money.  When I carry cash I live in constant fear that I am going to lose it or it will be taken from me, so I try to avoid it at all costs.

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Tahnya is a Certified Financial Planner and former Investment Advisor turned marketing and communications professional She holds a degree from Concordia University, is debt free and currently works in the field of digital marketing.


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Avatar photo About Kristina Tahnyak

Tahnya is a Certified Financial Planner and former Investment Advisor turned marketing and communications professional She holds a degree from Concordia University, is debt free and currently works in the field of digital marketing.

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Here are some simple guidelines for DINKS to build wealth:

1) Collaborate: Meet regularly to talk about money, set goals together, track and monitor them.

2) Understand and respect your partner. Take time to understand your partners values about money.

3) Watch the numbers. Get a budget, monitor your spending and track your net worth.

4) Max your retirement. Maximize contributions to your tax deferred retirement accounts.

5) Invest in stock. Stocks perform better than bonds or cash.

6) Avoid high interest debt. Credit cards and title loans are financial cancer.

7) Diversify. Don't put all your eggs in one basket.

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