How much cash do you typically carry?

[whatsup13579er]

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.

By not playing the game, you are losing. Businesses already have the 3% fee incorporated into their prices. So by paying cash you are paying the full extra 3% to Visa. By using one of Visa's rewards cards you are only paying an extra 2% and you get to keep 1% for yourself.

You are going to buy that $50 tank of gas regardless of if you pay cash or credit. The question is why pay $50 when you can pay $49? If you fill up every 2 weeks, you could 'save' $26 a year by using a card that gives 2% cash back on gas rather than cash.

 

[L. Wade Childress]

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.

of course anyone worth a shit owns plenty of stock in these companies.

 

[Monzon]

By not playing the game, you are losing. Businesses already have the 3% fee incorporated into their prices. So by paying cash you are paying the full extra 3% to Visa. By using one of Visa's rewards cards you are only paying an extra 2% and you get to keep 1% for yourself.

You are going to buy that $50 tank of gas regardless of if you pay cash or credit. The question is why pay $50 when you can pay $49? If you fill up every 2 weeks, you could 'save' $26 a year by using a card that gives 2% cash back on gas rather than cash.

I'm ok with not screwing over businesses I use by paying cash. But the 'winners' are happy to pay extra to get a pittance.

 

[KitingHigh]

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.

Well, congratulations on reaching that point. I'm not much of a haggler myself, but some of the wealthiest people I know negotiate everything and will use cash as a tool to that end. That might have something to do with their wealth.

As for tax fraud. I never agreed to the taxes we have now anyway. I really don't care if someone struggling to get by doesn't report all of their income. If you want to pay extra to avoid that, be my guest.

 

[2bagger22]

I don't carry cash during the week but always during the weekend.

My dad always carries at least $200 and he's 53. Seems generational.

 

[INXS83]

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.

Typically between $20 to $60.

I used to carry $100+, but the debit card has sliced that in half or more.

 

[Monzon]

of course anyone worth a shit owns plenty of stock in these companies.

Oh absolutely. Banks have Consumer Joe lapping at the trough.

 

[stevenpatrick]

I'm ok with not screwing over businesses I use by paying cash. But the 'winners' are happy to pay extra to get a pittance.

How annoying is it carrying all that loose change around?

 

[Monzon]

How annoying is it carrying all that loose change around?

I'm used to carrying a lot of weight in my pants.

 

[TankHawk]

Not at any HyVee gas station I've ever seen.

I was just at the Urbandale Hy-Vee and what they offer is a 3 cent/per gallon fuel saver discount when you pay for gas with cash.

 

[Pepperman]

I was just at the Urbandale Hy-Vee and what they offer is a 3 cent/per gallon fuel saver discount when you pay for gas with cash.

So at today's prices, that's around 1% (on premium gasoline anyway). We probably buy about $4000 of gasoline in a year's time. So that's saving all of $40, but of course I don't get any miles or cash back when I pay cash. Not sure it's worth it.

 

[stevenpatrick]

I'm used to carrying a lot of weight in my pants.

Why? Do you wear a depends diaper under there, old man?

 

[hooper56]

I don't understand the debit card thing. I see no benefit to it. Plus when you use the card there is a record of every purchase you make. If I buy a dozen bottles of Advil for cash then no one is the wiser.

 

[Monzon]

Why? Do you wear a depends diaper under there, old man?

Ha. Potentially younger than you.

Loose change is put into a ziploc bag in the vehicle every time I exit a business. Not too difficult really. Every few months it's deposited into the bank.

 

[lawsonhawk]

By not playing the game, you are losing. Businesses already have the 3% fee incorporated into their prices. So by paying cash you are paying the full extra 3% to Visa. By using one of Visa's rewards cards you are only paying an extra 2% and you get to keep 1% for yourself.

You are going to buy that $50 tank of gas regardless of if you pay cash or credit. The question is why pay $50 when you can pay $49? If you fill up every 2 weeks, you could 'save' $26 a year by using a card that gives 2% cash back on gas rather than cash.

First, I doubt CC fees are calculated into price very often. http://www.forbes.com/sites/beltway...n-operators-are-crying-over-credit-card-fees/ 2nd, points/cash back only works if you pay off your card and I don't know how often people do that. One late fee probably offsets months of points.

Technically, it's (cc surcharge) illegal in a lot of places and always illegal w/ debit, but that's obviously moot if you just raise your prices. CC are a convenience and you're at a competitive disadvantage if you don't take them. Most just absorb the cost. I have no doubt.

Regardless, if you pay cash these parasites (banks) don't get their unearned income and the business gets to keep their minimum 1-3% which adds up . . . full disclosure btw, I've quadrupled my investment on Mastercard (MA) and steal back 20 bucks a month for kids college w/ a upromise card.

 

[stevenpatrick]

I don't understand the debit card thing. I see no benefit to it. Plus when you use the card there is a record of every purchase you make. If I buy a dozen bottles of Advil for cash then no one is the wiser.

So you don't want your wife looking at your purchases, so you use cash. Got it. Sounds like a great relationship you're in.

 

[NoleandDawg]

How are you supposed to make it rain if you don't have plenty of cash on hand? Right now I've got about $800 on me but I'm going to Whole Foods after work so that'll eat up a good chunk of that.

 

[Kinnick 4 Prez]

Try to keep at least $40 cash on me.

 

[JWolf74]

I don't know which ballparks you regularly attend, but at Safeco it's just as easy with card as it is cash.

Do the beer guys in the stands take cards at Safeco? The ones at Busch don't. And at the actual concession stands, the lines are long enough, I'd rather just pay cash than wait to sign a card slip.

 

[hooper56]

So you don't want your wife looking at your purchases, so you use cash. Got it. Sounds like a great relationship you're in.

No you don't "got it". I have been married over 37 years to the same wonderful woman and we keep no secrets from each other. You say that to me and those are fighting words. I suggest you not do it again.

 

[joelbc1]

$5/day.....I can buy all the blow, booze and hookers with no questions asked. I have gotten this amount for almost 24 years. If I need more, I can get it from the bank.

 

[jellyfish10]

Start with 200 and work down. I like to use cash during work hours.

 

[MemorialRedWarrior]

Very little, there just seems to be no point these days. I have multiple debit cards for multiple accounts. If I happen to lose one, I can always to a quick transfer and I'm back in the money.

 

[stevenpatrick]

No you don't "got it". I have been married over 37 years to the same wonderful woman and we keep no secrets from each other. You say that to me and those are fighting words. I suggest you not do it again.

So who are you hiding purchases from, that you don't want followed?

And someone that's probably older than 50 doesn't exactly strike fear in my heart.

 

[L. Wade Childress]

I love my wife, but if I ever want to solicit a prostitute and subsequently kill her, cash allows me to do that.