Do You Carry Cash?

[MillauFr]

I only use credit cards. The rebates are too valuable to give up. Why would I use cash to subsidize credit card users

 

[gillep]

I always have some cash in the house in case I need it or I travel somewhere, and I keep a good pile of ones for tipping for when I travel (any time I break a bill I put all the ones in this pile). But day to day I only ever use my credit card, I can't think of any place near me that is cash only. I usually have to purposely use cash somewhere to get ones when I am running low.

I have been in one restaurant where the CC machine went down mid-meal and they had those old machines that take an imprint of your card so they were able to charge us later.

 

[tvguy]

I think it’s been proven that the modern American today is not a saver. So different from how I was reared 40-50 years ago. Thank goodness my parents were savers.

The whole 2008 financial crisis is proof of that.

 

[tvguy]

I think a lot of people were never taught how to save. My parents (late 60s) were never savers and quite frankly, never good with money. I (I’m 51) grew up watching bills being a constant struggle for both sets of my parents. As a result I became a saver. The rest of my sibs didn’t seem to learn that lesson. Ironically they think I should freely give what I’ve saved. That’s the lesson they took away because that’s what our parents did. I think it’s a huge reason I’m not a cash person. It’s too easy to go through without the numbers right in front of you.

I'm 62 and my parents grew up in the depression (They were older, 46 and 34 when I was born). Both could make a penny scream. That is where I learned to be frugal. One dollar of every paycheck to pay bills, one dollar into savings, one dollar for optional/luxury spending. Like I posted, in the past 2 months I did far more than usual on credit. Yes the numbers are there online, but with paying cash, when you are out of cash, you can't go over budget.

 

[tvguy]

I only use credit cards. The rebates are too valuable to give up. Why would I use cash to subsidize credit card users

That is why I started using my CC for groceries, and pay it off (normally) as soon as I unload the groceries.
Now gasoline, cash only. I save 10 cents a gallon, and avoid the 45 cent transaction fee.

 

[DisneyHardin]

Of course they do. Who wants to pay income tax ? What they don’t realize if they ever need to draw benefit (unemployment, social security) it based on reported income.

My friends who are servers all pay taxes on their cash tips. The main reason my good friend who is a server prefers to have a decent amount of cash tips a night is so that she then has plenty of cash to do her tip outs at the end of the night to the bar and bussers.

 

[disneychrista]

My friends who are servers all pay taxes on their cash tips.

Then they are unique then. A lot of servers do not report or under report their cash tips. Some have been told they "don't have to" by previous managers or believe they only need to report 8% of their sales. I managed a bar for 18 years and had to "retrain" the bartenders on what is expected in the way of reporting tips. I know they weren't reporting the majority of their cash tips.

 

[Southernmiss]

I actually spend less because I don't carry cash.

If I carried cash it would be too easy to stop and get lunch or a treat and then wonder 2 days later where the $20 went.

This way it forces me to think 'do I really want to charge $5 for lunch and have that come out of the grocery budget'?

 

[CdnCarrie]

I’m fascinated from learning from this thread how many posters here charge EVERYTHING! I just can’t fathom that. But, you know, I see plenty of people charging small amounts, say a cup of coffee, rather than paying cash. I just never really thought about it until this thread.

Charge everything = rewards = Free WDW tickets = no brainer
Pay if off in one click on banking app

 

[zorro77]

We use room charge and a Mickey Gift Cards. We buy up gift cards a few at time before our next trip. Room charge we usually payoff everyother day.

 

[AustinMommyofThree]

I always carry cash, if for no other reason than so many places I go only offer valet parking and even though it's complimentary, I still need to tip. Pretty much everyplace else I go takes credit cards, and I cannot think of a time in my life when a store's credit cards were down and I was unable to use one. As others have said, the rewards make it worthwhile to me, and I also like that the credit card statement then provides a good accounting of my spending.

 

[MillauFr]

That is why I started using my CC for groceries, and pay it off (normally) as soon as I unload the groceries.
Now gasoline, cash only. I save 10 cents a gallon, and avoid the 45 cent transaction fee.

No need to pay any transaction fees on gas. I would refuse to pump gas at a station that charged them. Much cheaper to buy gas at Costco and get the huge gas rebates buy using their credit card.

 

[DLgal]

Only when I'm in Vegas!

 

[tvguy]

No need to pay any transaction fees on gas. I would refuse to pump gas at a station that charged them. Much cheaper to buy gas at Costco and get the huge gas rebates buy using their credit card.

ARCO here is usually within a penny of Costco. I refuse to wait in line to buy gas....I did enough of that for my mom during the 1973 oil embargo. My time is worth the penny a gallon.

 

[Sandeep1]

My kids barely carry any, but my father in law carries a wad of cash. I guess it's a generational thing.

Only when I travel or if I know I'm going to a cash only establishment.

 

[kdonnel]

ARCO here is usually within a penny of Costco. I refuse to wait in line to buy gas....I did enough of that for my mom during the 1973 oil embargo. My time is worth the penny a gallon.

If they charge a ten cent per gallon premium and a forty five cent transaction fee for credit card users they are not within a penny a gallon.

 

[DVC-Don]

I have $3 in my wallet, been there for days, maybe a week.

 

[AnnaS]

I'm 62 and my parents grew up in the depression (They were older, 46 and 34 when I was born). Both could make a penny scream. That is where I learned to be frugal. One dollar of every paycheck to pay bills, one dollar into savings, one dollar for optional/luxury spending. Like I posted, in the past 2 months I did far more than usual on credit. Yes the numbers are there online, but with paying cash, when you are out of cash, you can't go over budget.

A little younger but have the same mentality.

Don't carry much cash......usually about $30. Most times $10-$15. I try to charge anything I can charge without a fee to accumulate rewards. I pay my bill on line at least once a week. I don't wait for the bill.

 

[soccerdad72]

I don't understand people saying they pay their credit card bill each week? Isn't it just easier, especially if you're paying the bill in full, to set an automatic payment on the due date each month? I never have to even think about our credit card payments - they just automatically come out of our account each month.

 

[L&Lfan]

I don’t understand how this works because I pay cash but from the gist of what I’ve read, maybe they want their rewards available weekly?