I put almost 90% of my daily charges on my credit card, so I rarely use cash. I normally carry roughly $50 around on average. I have a friend that prefers to pay with cash, and regularly carries $500 around on him, which to me seems ridiculous.
How much cash do you typically carry?
- Thread starter stevenpatrick
- Start date
When it's time to replenish the cash in my wallet, I'll usually start with $100 and then just let it run from there. Weeks later, when I'm down under $20, I'll restock. My wife never goes to the ATM, so I usually keep some cash around the house, but rarely more than a couple hundred to cover babysitters and other incidentals.
I put absolutely everything on cards so I can track my spending, but I still carry at least a couple grand in my wallet or truck. You just never know when you will come across a hell of a deal for which you need cash.
Can you give me an example on when you came across one hell of a cash-only deal?
Where are you parked?
I rarely get cash, unless I'm going to a festival or event where I'll need it. I do get cash tips when working though, so In the busy season I often have a few hundred on me.
I usually have about $50 with me on average. That's because I tend to re-load once a week or so for $100. Lately, I've been thinking I should just take out $200 and go to an ATM half as often, but it probably doesn't work that way in practice as I'd somehow end up spending more cash instead of a credit card. Why not get all of the miles if the vendor takes a card?
I would also like an example of this. Where do you do business on a regular basis that you get a cash discount? Gas station? Grocery store? Doctor's office? Restaurant?
I am currently thinking of how I spend cash. None of the places I shop for groceries would give me any kind of discount for using cash. Nor would gas stations or restaurants...
Where do you regularly buy things that it helps that much to have cash for it? I guess if I went to my auto service guys and said "hey, instead of using my card for that $150 in service, I pay you $145 in cash", would they laugh at me or say "deal"?
It's not a daily or even weekly occurrence but when you buy items from individuals the cash works well. Also gratuities, etc.
Pretty much any deal with a self employed person or very small business. Cash means no merchant service fee and no record of the transaction (so they likely won't report it for taxes).
I'd venture to say most small independent auto service shops would give you a cash discount if you asked for one.
There are a few gas stations that give a small discount for paying in cash. It's generally around $.03-.04 per gallon savings. I prefer to just use my Hy-Vee Gas card and be done with it. I haven't paid the posted amount for gas in months.
None. I have my cash boy carry it and follow me around with a suitcase with around 1000000 in small bills.
I am past the point of my life where I will ask for discounts on products or services. And I don't particularly like the idea of supporting tax fraud.
I wonder if it is a situation where there are basically people like us that make (speaking for myself only, of course) a clean, completely taxed income and then a smaller group that trades cash around amongst each other, not reporting it?
Can anyone give me a solid reason why anyone would use cash vs. a credit card that offers cash back/points/miles? I have 2 cards that I put everything on and have over $1000 in cash back banked. If I would have used cash/check/debit instead, I would have basically forfeited over $1000 in free money.
I am in the $300-500 grouping.
I suppose that at this point in my life, it is merely out of habit, but I simply feel naked without some pocket money.
When I was younger, there was always a need for some drinking money, some gambling money, and so on. Now I just prefer to not receive a 10 page bank statement.
I do pay for my gasoline with a debit card ... but that is in lieu of going inside the station and standing in line.
I suppose that at this point in my life, it is merely out of habit, but I simply feel naked without some pocket money.
When I was younger, there was always a need for some drinking money, some gambling money, and so on. Now I just prefer to not receive a 10 page bank statement.
I do pay for my gasoline with a debit card ... but that is in lieu of going inside the station and standing in line.
a couple months ago I drove by a Lund tiller that had clearly been sitting there for awhile despite being terribly underpriced. I offered him half of what the sign said with 100's in my hand. he instantly accepted and I pulled it home. with a little elbow grease and TLC II came out about 6 grand ahead.
I don't trust a man who doesn't have a piece and a few grand in the console.
Exactly.
Titus, where do you get gas where you can't pay with a CC at the pump??
Sounds like someone recently kicked out of the house by his wife.
That money isn't free though - that's accrued from the very places you are charging. Banks take their 2%, you get 0.5% (or whatever, this isn't a dick measuring contest). Overall we as a consumer society lose 1.5%. I won't play that game.
Banks win, stockholders in banks win, but consumers lose. The invisible hand in full effect.
I don't know which ballparks you regularly attend, but at Safeco it's just as easy with card as it is cash.
Well, the Hy Vee gas on Mills Civic in West Des Moines off of the interstate does. Maybe it's decided by the location?
$0. I have a few guys in my entourage carry anywhere from $50-$60k in a duffle bag for me a la Mayweather.
And like others have said, I use cards that have cash back or rewards. I put everything on there, there's no reason not to really. Just pay off the balance at the end of the month.
And like others have said, I use cards that have cash back or rewards. I put everything on there, there's no reason not to really. Just pay off the balance at the end of the month.
