topic No Cash next year? in SmorgasBoard

No Cash next year?

Anonymous — Sun, 08 Dec 2019 13:35:17 GMT

Hi, guys and gals.

Since I primarily use 2 credit cards for everything, AMEX BCP and Citi DC (and sometimes Target MC), I rarely (if ever) use cash (but my wife does).

For the new year, I am thinking of going completely cashless and just using cards.

I also don't pay for anything with my phone and do not want to.

I am curious about how many others do not carry ANY cash and do not pay with iphone apps, and whether this has proved to be a problem in any meaningful way. What is the worst that has ever happened with you?

My wife thinks that I should carry at least $20, but I really prefer to keep my wallet (Bellroy Slim Sleeve) as thin as possible.

This is, I admit, a little off-topic, but please share your thoughts/experiences.

Happy Holidays, by the way !!

Re: No Cash next year?

gdale6 — Sun, 08 Dec 2019 13:38:37 GMT

Cash is always king, I carry it at all times as you never know when there is going to be a power outage or other disruption to electronic systems. I would not advocate going completely cashless in your wallet.

Re: No Cash next year?

Anonymous — Sun, 08 Dec 2019 13:40:36 GMT

It’s probably been decades since cash was my primary method of payment. I do carry a small amount with me, however. A $20 or a $50 or a $100 bill doesn’t take up that much real estate in your wallet. You never know when you’ll want to buy something from a small place that’s cash only, or maybe a store’s credit card processing is down, etc.

Re: No Cash next year?

Mv350 — Sun, 08 Dec 2019 13:42:35 GMT

I only carry cash unless I forsee needing it. Mainly when I am going to an event, or going out of town.

Although I've carried the same 2 dollar bill in my wallet for the last 5 years, and added a couple more about 6 months ago.

Re: No Cash next year?

Brian_Earl_Spilner — Sun, 08 Dec 2019 13:42:45 GMT

I always carry at least $100 on me as two of my favorite places to eat only accept cash. I've also ran into issues where I've needed it as a tip. But other than that, I pretty much only use my cards.

Re: No Cash next year?

Anonymous — Sun, 08 Dec 2019 13:51:07 GMT

I carry the same $20 for months at a time in Canada, but find I need cash in the US (Manhattan). Not for emergencies, but for that bottle of water or pizza slice you suddenly need desperately.

I couldn't imagine using physical cards anywhere if I didn't have to, but pretty much anywhere contactless is accepted you can use a physical card, so it wouldn't make things tougher for you.

Since you're committed to carrying cards anyway, not slipping a thin $20 bill in with them seems a bit like cutting off your nose to spite your face.

Re: No Cash next year?

Anonymous — Sun, 08 Dec 2019 13:52:52 GMT

I don't think I ever carried cash for the last decade.

I do have quarters in my car for parking meters and Aldi shopping carts. I also carry a debt card in case I need cash. I think as long as inside US is concerned, cashless is fine for almost all occasions.

Re: No Cash next year?

Anonymous — Sun, 08 Dec 2019 13:55:10 GMT

@Mv350 wrote:

Although I've carried the same 2 dollar bill in my wallet for the last 5 years, and added a couple more about 6 months ago.

I do that too - I have a pair of them in mine

Re: No Cash next year?

Anonymous — Sun, 08 Dec 2019 14:08:15 GMT

I can't remember the last time I intentionally carried cash with me. If I need cash when I'm out, I have debit cards to hit up an ATM with or my Discover card for cashover. When I carry cash, I spend it. It never fails. I am awful with cash which is weird because I'm great with plastic.

Re: No Cash next year?

TSlop — Sun, 08 Dec 2019 14:36:47 GMT

I try to at least carry some cash for emergencies or impromptu lunch orders at work. But these days, it is basically $20 or less since I use credit cards as much as possible for points/cash back.

Re: No Cash next year?

Anonymous — Sun, 08 Dec 2019 14:46:18 GMT

I like to have cash on me mainly because at any given time my kids may tell me "I need $x for ______ at school tomorrow" but other than that I don't usually have it. I'm trying to adapt our household to cards as much as possible. Various school functions require checks to be sent in - not sure why the schools are so slow to adapt to card payments - but we are getting there. Once I make my large planned paydown early next month, I will be able to more easily get my wife to not automatically reach for her debit card at a store.

We agreed that after the holidays, we will leave the kids at home, go out to a nice dinner at our favorite restaurant in the area, and go over the "what card to use where" topic to maximize points and cash back. She finally bought in on why I've wanted to do this when I showed her the recent flash sale from Delta with round trip airfare to Europe for something like 18k SkyPesos and reminded her that we have about 56k of them sitting on our Delta Gold. That made things real to think we could go to Ireland (she has dual citizenship) for the cost of lodging and airline taxes/fuel surcharges. Hoping that putting the debit cards in the safe with some on-hand cash and the non-daily credit cards will boost up our points and cash back nicely this coming year.

Re: No Cash next year?

HeavenOhio — Sun, 08 Dec 2019 15:05:03 GMT

I use credit cards for absolutely everything that I'm allowed to. The big advantage is that I know where my money's going. Cash has a tendency to slip through my fingers when I use it regularly. My preference is to use Apple Pay via my watch.

I carry enough cash to cover most of the things I'd normally buy, but I hope not to touch it. In theory, it's possible that I could drag around the same bills for months.

I keep quarters in the car for Aldi and air for my tires. (A credit card for air seems cumbersome for air pumps.) I used to stash pennies, nickels, and dimes in a snack-sized ziplock. But lately, I've been leaving them at the register. I used to use quarters for occasional visits to the laundromat. But I now have machines at home that are big enough to take care of the occasional large items that I used to have to haul in.

The only flaw in this plan is Woodman's supermarkets. They only take Discover, and I don't have that card. Until this year, they didn't take credit cards at all. They take debit cards, but I prefer cash to debit.

Re: No Cash next year?

pinkandgrey — Sun, 08 Dec 2019 15:11:13 GMT

I always like to have cash. I use cards a lot but I wouldn't go completely cashless. I don't use mobile/phone pay either.

Re: No Cash next year?

Anonymous — Sun, 08 Dec 2019 15:43:11 GMT

@HeavenOhio wrote:
I use credit cards for absolutely everything that I'm allowed to. The big advantage is that I know where my money's going. Cash has a tendency to slip through my fingers when I use it regularly. My preference is to use Apple Pay via my watch.

I carry enough cash to cover most of the things I'd normally buy, but I hope not to touch it. In theory, it's possible that I could drag around the same bills for months.

I keep quarters in the car for Aldi and air for my tires. (A credit card for air seems cumbersome for air pumps.) I used to stash pennies, nickels, and dimes in a snack-sized ziplock. But lately, I've been leaving them at the register. I used to use quarters for occasional visits to the laundromat. But I now have machines at home that are big enough to take care of the occasional large items that I used to have to haul in.

The only flaw in this plan is Woodman's supermarkets. They only take Discover, and I don't have that card. Until this year, they didn't take credit cards at all. They take debit cards, but I prefer cash to debit.

I carry a bike pump in my car for tires.

Re: No Cash next year?

CreditCuriosity — Sun, 08 Dec 2019 15:47:19 GMT

Echoed above cash is king as least for now.. Actually gold is king, but another story. I use credit 99% of the time, but you need cash on your as mentioned CC machines have been down before or the network etc.. Also such things as valet parking(my biggest cash expense) etc is probably the main reason I always keep 20-100 in my wallet otherwise everything goes on CC.

Re: No Cash next year?

Raisondetre — Sun, 08 Dec 2019 15:58:53 GMT

I never carry cash, haven't for some time. The only time I had a problem was when I was at a small town veterinarian that only accepted cash, had to leave and find an ATM for that one.

Re: No Cash next year?

Anonymous — Sun, 08 Dec 2019 15:59:38 GMT

Parking meters have been the biggest reason for me needing cash, now many around here have pay-by-app, but still a few holdouts. But this just needs a few quarters in the car, no need to carry around.

The only other time I use cash is for payments that do not need to come to the attention of the IRS but I'm sure no-one else does those.

Re: No Cash next year?

JNA1 — Sun, 08 Dec 2019 17:38:44 GMT

I’m the same as others. I always keep $100 in my wallet and I keep a little cash in the console of my truck in case I forgot my wallet or whatever.

I’ve had the discussion with people about the money in my truck, and Ive has few people have a fit about the cash in the truck getting stolen, but it’s a gamble I’ll take to have it if I need it. To get in my truck, they’ll have to knock my window out, so it’s going to cost me either way. 🤷‍♂️

Re: No Cash next year?

Gmood1 — Sun, 08 Dec 2019 17:49:34 GMT

I normally carry a very small amount of cash, maybe $20.
Cards are use 100% of the time.
You just never know when some places don't take them.
I also carry one debit card with me. Only used at ATMs.

When out of the country. I carry way more cash. Since there's even more of a chance that merchants don't accept CCs.

Re: No Cash next year?

tparks5961 — Sun, 08 Dec 2019 17:57:04 GMT

I've been slowly making that transition to only use cards.. but there have been 2 recent examples where I could have used cash.

#1 I forgot my wallet and figured I could use apple pay, ordered my food and they didnt accept it. I had to leave the restaurant.

#2 I recently had a pedicure, and paid for the service with a card. I asked if I can put the tio on the card and look lady with. Look of horror on her face said cash would be better for her. So I'm assuming she gets cheated out of her credit card tips. I had to find an atm and return to th shop.

So now, I'll always carry $20.