I don’t carry much cash and I find it really convenient to live without it. But I 100% get the point of the first article we’re sharing today – that cashless payments put some people in a difficult position.
Does cashless society discriminate against the poor and elderly? [Data Science W231] – “The growing use of cashless payment puts financially disenfranchised populations at a disadvantage as they cannot participate in services that require cashless payments and pay higher cost when transacting in cash.”
Every Storm Runs Out of Rain [Granite Wealth Management] – “One thing we know for certain is that every single bear market in the history of the stock market has come to an end, and we’ve ended up in a better place than when it all started. Sometimes that turnaround happens fast (initial COVID quarantine period saw the market eclipse its pre-COVID high by mid-August 2020 – that’s quick!), while other times it happens much more slowly (i.e. the Great Financial Crisis, which took years). While inside of those negative periods, our brains turn on their “pessimism bias,” where our thoughts tend to skew towards the negative, insinuating things will never get better and we are doomed. ”
This next article has nothing to do with personal finance but I find it absolutely shocking and sad. 🙁
Alaska cancels snow crab season for first time after population collapses [The Washington Post] – “Alaska will cancel the upcoming winter snow crab season in the Bering Sea for the first time, and bar fishers from catching king crabs in the Bristol Bay for a second consecutive year, because of a sharp decline in their estimated population.”