The Future of Cash

10 and 20 banknotes on concrete surface
Type: Vocabulary
Originally published on January 20, 2022 and last updated on July 22, 2023

The topic of “The Future of Cash” is invaluable for English learners, as it immerses them in contemporary financial discussions while enhancing language skills. Engaging in conversations about digital currencies, cashless societies and technological advancements fosters vocabulary development and fluency in finance-related contexts.

This exploration empowers learners to comprehend global economic trends, discuss financial innovations and critically assess the pros and cons of cashless systems.

Go through the vocabulary below with your students and ask them to try and use this vocabaulry where possible when discussing the different conversation questions.

About The Future of Cash

The future of cash, a topic of increasing relevance in our digital era, delves into the potential transformation of traditional currency systems. As the world embraces digital payments, cryptocurrencies and cashless transactions, questions arise about the future role of physical money.

This intriguing subject explores the implications of a cashless society, including convenience, security and financial inclusion. Discussions on the impact of technology, privacy concerns and global financial stability contribute to a deeper understanding of how the evolution of cash may shape economies and everyday life in the years to come.

Useful Vocabulary

Try and use the following vocabulary when answering the question. Click to look up the definition in the dictionary

  • obsolete (adjective)
  • likelihood (noun)
  • generation (noun)
  • purchase (verb)
  • as a result of (phrase)
  • likely (adverb)

Conversation Questions

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  • How often do you use cash in your daily life?
  • Do you prefer cash or digital payments?
  • Would you say that you are using cash less now than 5 years ago?
  • Would you consider using digital currencies like Bitcoin in the future?
  • Will cash become obsolete in the future?
  • What are the benefits of using cash?
  • What are the main benefits of not having to pay for things with cash?
  • What problems do you think might occur if cash becomes obsolete?
  • How could the future of cash impact small businesses and street vendors who heavily rely on cash transactions?
  • Discuss the potential challenges of transitioning to a cashless society, such as cybersecurity and privacy concerns.
  • How do you think the future of cash will impact vulnerable or underserved populations?
  • In your opinion, what are the main reasons some people still prefer to use cash despite the rise of digital payment options?
  • What role should financial education play in preparing individuals for a cashless future?
  • What would be the impact of a cashless society on reducing crime, such as illegal transactions and tax evasion?
This conversation topic was prepared by Gregory

Gregory is a qualified TEFL teacher who has been teaching English as a Foreign Language (ESL) for over a decade. He has taught in-person classes in Spain and to English learners around the world online.