'Use it or lose it': As cash use declines across the country, these Aussies are bucking the trend

A group of everyday Australians is keeping cash in circulation one meal at a time.

Sydney resident Debbie Bardwell started the Cash is King Northern Beaches meet-up group in April 2023 after she witnessed a shift away from the use of physical money at the height of the COVID-19 pandemic.

"I would tap my phone to buy a simple coffee," Ms Bardwell said.

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"My local servo stopped giving me cash out."

Ms Bardwell said her husband even washed their cash and hung it on the clothes rack, due to fear of potential COVID-19 infection.

"We even joked that we were 'laundering money'," she laughed.

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Ms Bardwell was determined to keep cash in circulation and "use it or lose it" became her mantra.

"We would say that phrase when paying with cash - almost everyone agreed," she said.

The group, which generally meets once a week and always pays with cash, initially started as a social outlet.

It has since grown into a large community with more than 600 people in its Facebook group.

Ms Bardwell said she hoped cash would always be an option and remain in circulation.

She also hoped people would continue to respect physical currency and not rely solely on digital currency.

"We don't want to make it easy to get rid of cash," Ms Bardwell said.

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A recent Reserve Bank survey found consumer payments made in cash have fallen from about 70 per cent in 2007 to just 13 per cent in 2022.

Australia's declining use of cash was accelerated by the pandemic when shoppers and retail workers were reluctant to handle potentially infected notes.

Treasurer Jim Chalmers announced last year that Australia will be introducing a cash mandate for grocery and fuel retailers in 2026.

This month the Reserve Bank of Australia backed calls to keep cash circulating in the economy, describing bank notes and coins as "vital" for regional and remote communities.

To continue the momentum, not-for-profit advocacy group National Seniors Australia (NSA) CEO Chris Grice has encouraged Australians to choose one day in March to use cash as much as possible as part of its cash month.

"NSA is calling on supporters to pick one day in March to use cash as much as possible in what we are calling cash month," Grice said.

"How do you participate in cash month? Simply choose your own cash only day.

"Use cash as much as possible when you shop, fuel the car or pay for service.

"By taking part in NSA's cash month, you are showing how important cash still is for the choice and accessibility, and why it must continue as a viable payment option."

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