The new £5 notes may have just landed but as more and more of us bank and spend on our mobiles, it’s safe to say a cashless society is just around the corner. But is this necessarily a good thing?
Our client ClearScore is all about helping people get to grips with their finances, both by giving them free access to their credit score and report but also by tapping into modern personal finance issues people care about today. To raise awareness of how the shift to a cashless society is impacting our relationship with our money we asked Brits how they felt about the prospect of a cashless society and found three in five of us overspend because we don’t handle physical money anymore.
To really bring the concept to life we worked with a brilliant sound technician Finbar Wheelagan who designed a piece of music using all the familiar sounds we associate with paying for stuff from the clunk of an old school till to the swoosh of Apple Pay. Check out the final piece here!
This was the perfect radio story which was syndicated across the Sky news networks with supporting articles written up on key personal finance publications. BBC Radio 3 has also picked up the idea and are planning a one-off programme investigating Brits’ relationship with our cash.
Justin Basini, CEO of ClearScore, said “Without the feeling of handing over cash – the clink of coins and the rustle of bank notes – money becomes even more abstract. We can easily lose track of how much we’re spending. It means its even more important than ever to stay on top of your financial information by checking your bank balance and debt levels regularly and nurturing your credit score.”