Contactless Revolution: The Decline of Cash Among Tradies

The information on this website is general in nature and does not take into account your objectives, financial situation, or needs. Consider seeking personal advice from a licensed adviser before acting on any information.

Graham Tomkinson, a Western Australian tradie, typifies the shift away from paper money. "Nowadays, nobody pays with cash," he says. Tomkinson has not used cash both in his professional and personal life, a stark contrast to his earlier years when he would carry pocket money.

"I keep my wallet in the car simply to store my Medicare card and tool receipts. If someone stole it, I'd just need to re-register for another Medicare card," explains Tomkinson. This casual approach highlights the diminished presence of cash in his life.

Harrison Lockyer, a 20-year-old mechanic, seconds Tomkinson's experience: "EFTPOS is ubiquitous now. The only time I keep cash is for buying car parts or in case our EFTPOS network fails."

Steven Sousamlis, a builder who operates a bathroom renovation business in Sydney, believes the move towards a cashless society is inevitable. "It's increasingly rare for stores to prefer cash. Obtaining cash from banks feels more tiresome, almost like an inquisition," says Sousamlis. "With ATMs becoming rarer, carrying cash is more of a hassle than it’s worth nowadays."

Phil Cooksey, currently a general manager at Apprentices Are Us LTD and former tradie, vividly remembers when cash ruled the trades industry from 2002 to 2018. "We used to prefer cash. It simplified transactions and often meant work could be done more cheaply. Handling cash was an everyday occurrence," he recounts.

Cooksey is critical of how the decline of cash impacts the perceived value of money. According to him, a $50 note used to be worth $50 throughout, whereas now every card transaction chips away a small percentage. "Each bank fee diminishes the total transaction value," he laments.

Besides the practical shifts, there's a sentiment shared by Graham Cooke, head of consumer research at Finder, suggesting that "cash is dead.” Finder's research shows that ATM usage has been plummeting since 2008 and could disappear entirely by 2030 if the current trajectory continues.

This evolution towards a cashless economy, though gradual, exemplifies how technology and convenience are driving significant shifts in traditional practices, even for cash-dependent professions like trades.

Published:Saturday, 7th Sep 2024
Author: Paige Estritori

Please Note: We do not endorse any specific products or companies. Some content is sourced from third parties, including press releases, and may not be independently verified for accuracy or completeness.

Share this news item:

Finance News

Clear

Fresh Rate Signals Put Boat Finance Back Under the Microscope

13 Aug 2026: Paige Estritori

Australia's winter boat show season has left many buyers with brochures, dealer follow-ups and a clearer sense of the vessel they want. The latest finance market signals now point to the next challenge: making sure the loan structure is as carefully chosen as the boat itself. - read more

After the Sydney Boat Show, Finance Planning Takes Centre Stage

05 Aug 2026: Paige Estritori

With the 2026 Sydney Boat Show now complete, many Australian buyers are moving from browsing mode into decision mode. The event brought a broad mix of trailer boats, fishing craft, family cruisers, personal watercraft, electronics and accessories into one place, giving would-be owners a valuable chance to compare models and speak with dealers. The next step, however, is less glamorous and more important: turning enthusiasm into a sustainable finance plan. - read more

Boat Buyers Urged to Check the Numbers as Show Season Builds

29 Jul 2026: Paige Estritori

Australia’s major boat show calendar is again putting boating dreams in front of thousands of would-be buyers, with new launches, dealer promotions and late-model used vessels all competing for attention. For households considering a first boat or an upgrade, the excitement is understandable. The more important story, however, is financial discipline: the best-looking deal on the stand is not always the lowest-cost ownership outcome over the life of a loan. - read more

Sydney Boat Show Puts Boat Buyers Back in Planning Mode

22 Jul 2026: Paige Estritori

The 2026 Sydney Boat Show is shaping up as a timely checkpoint for Australians thinking about a first boat, an upgrade or a move into a more capable family, fishing or cruising vessel. Returning to Sydney Showground at Sydney Olympic Park from 30 July to 2 August, the event is expected to bring together more than 120 local and international exhibitors, hundreds of boats and thousands of marine products across boating, fishing, watersports and outdoor lifestyle categories. - read more

What July's Boat Loan Rate Update Means for Buyers

15 Jul 2026: Paige Estritori

Australian boat buyers have a fresh snapshot of the lending market, with Canstar's boat loan comparison data updated on 15 July 2026. The update shows indicative unsecured boat loan offers for a $20,000 loan over three years, with some listed comparison rates starting from 5.95% for applicants who meet strong credit criteria. - read more

Sydney Boat Show 2026 Gives Buyers a Timely Finance Reminder

08 Jul 2026: Paige Estritori

Sydney's biggest boating showcase is preparing to return to Sydney Showground at Sydney Olympic Park from 30 July to 2 August 2026, with the Boating Industry Association confirming a broad line-up of more than 120 local and international exhibitors. For prospective buyers, the timing is important: major shows can create excitement, but they can also compress purchase decisions into a busy few days. - read more

Click for more Finance News