Not sure about the impact on small children - who normally learn the values of savings through keeping coins and notes in the piggybank.
As for older kids and adult, cashless transaction will not erode the values of savings - as there is a need to constantly the balance in the bank to ensure savings are set aside and expenses are made as plan.
Cashless transactions is a mean of transaction - whether using cash or cashless ---- but the virtue of savings come from the inherent values of each individual.
Actually to impart the values of savings to young children using cashless means - can open 2 accounts for the child. One account is the saving account. One account is the expenses account.
Everyday, transfer eg. $2 to the child saving account. Then make the child transfer $1 to the expenses account for meal and keep $1 in the saving account.
This will have impart the values of spend half and save half for the kids - even thought it is cashlesss - not necessary must touch and feel the cash and put it into the piggybank.
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