patrick.net

I used cash for most non housing expenses for a year once. Was doing the envelope system. It was a pain in the ass, mostly, although it did help us save money. And taking out cash for everything we purchased meant a withdrawal of maybe $1500 every month, split up into envelopes for various purposes. It’s one way to budget that is pretty effective since you really review every purchase since it’s paid in cash.

CBOEtrader says

3rd option: be a >30 year old hot lady who leaves the house w nothing but her ID and car keys.

Vagina is the real master card.

Probably actually doesn't need to leave with these items in most cases either, lol.

Quigley says

I used cash for most non housing expenses for a year once. Was doing the envelope system. It was a pain in the ass, mostly, although it did help us save money. And taking out cash for everything we purchased meant a withdrawal of maybe $1500 every month, split up into envelopes for various purposes. It’s one way to budget that is pretty effective since you really review every purchase since it’s paid in cash.

My goal wasn't to bash budgeting and money saving practices like you and others in the thread have mentioned. All for people being responsible with money and not pissing it away.

I'm more speaking on the actual physical transaction. Outside of illegal activity and casinos, cash really doesn't have a place anymore. I technically believe it to be a riskier way of transacting due to the physical nature of it. It can be taken at any time and it's just gone. I've lost 3-4 CC's and have never lost anything. Lost a wallet one time with $300 in it. It's gone, nothing I can do about it. Then there's the fact you can transact with the CC and get money back and it's a no brainer.

Ultimately just curious as to why people would continue to use cash. Not saying using it is wrong, but not sure I've seen a good reason FOR using it as the preferred method of payment by the person holding the cash (legal transactions of course). There's a difference there.

I never use Debit cards. Far too risky. About 10 years ago, my Debit Card got hit for about $6000. Some idiot in New York bought flights to Europe and I lost access to the cash for a week.

Cash. I usually carry about $200 cash max on me all the time. This is for those occasional places that don't accept Credit Cards (i.e - lots of asian restaurants).

I carry two credit cards. A costco one and I have a United Travel Card for travel points. Costco gas rewards are amazing. My united card paid for 2 flights to Maui this year. Definitely worth getting a good airline points card IMO.

Goran_K says

My united card paid for 2 flights to Maui this year. Definitely worth getting a good airline points card IMO.

This. This. And more of this. Flights in the last year with city first and then # of people in the ( ). Denver (4). Cancun (2). Liberia, CR (4). Cancun (2). Spokane, WA (1). St. Louis (2). Houston (4).

That's a year. 19 RT flights. Do the math on that.

Planned and booked right now for rest of 2019:

Cancun (2). Spokane, WA (1). Seattle (4). St. Louis (2) Maybe Vienna, Austria (4) and would only partially be points.

Swiping a CC or should I have used debit since it's the cash equivalent card wise (with limited to no protection in a few cases)? This is my point. Can't pay physical cash for any of this. My families usage is unique and lucrative in the CC game, but there's zero reasons a family of 4 couldn't get $500-$1,000 back per year by literally paying for things the same way they likely already do. Hence the thread and why I've yet to see a fundamentally good reason for using cash.

Not pushing dumping cash by any means. Still has physical function. But I still see, frankly, soooo many morons using cash. Use it if you want, just know you're pissing free money away with your after tax dollars and you could be getting rewards with pre-tax dollars.

If I use cash I can clearly see the results of my spending unlike a credit card.

My problem is the opposite of most; I am not that happy spending money, and some of my friends tease me about leaving a fortune to my heirs rather than enjoying it myself.

Patrick says

Yes, they are watching us all, building dossiers that can be used against us in various ways, not just for advertising. Why make it easy for them? I don't care about the points.

You do realize that Uber tracks and records all your trips with them.

clambo says

I don't have a credit card abuse problem nor a balance problem; but if I use cash I can clearly see the results of my spending unlike a credit card.

Not saying you do, or I don't think I did.

How can you not see the spending results on a CC though? Pay for things you'd have to with cash as usual (mortgage, car payment, etc) and run daily expenses on CC. Using a card or account # either way. Look at the statement. I'd like to think I'm hip, but kind of thought online banking was a thing now.

Physical cash is just foreign to me and maybe that's a function of my age I guess. I see zero use for it in 99.99% of situations outside of catastrophic instances where it will likely be useless anyway.

I know it's being connected and big brother will get you for doing all your illegal activities, but there are plenty of apps for saving and money management. I know I'm coming across as condescending, but it's kind of to prove the point. There's pretty much no reason for physical cash transactions when conducting legal business. This is probably the end goal of governments, but you're fighting a losing battle if you think you're working around the system. Tech, cameras, etc. are not on your side.

Sorry to rant, but outside the zombie apocalypse events, and even that's a stretch, no good/legal uses for physical cash transactions has come up.

WookieMan says

Seattle (4).

Nice. I'm actually going to be in Seattle all next week. Business trip unfortunately but I'll still hit up Pike's market for lunch.

HeadSet says

You do realize that Uber tracks and records all your trips with them.

If your phone has Uber on it, you've lost the battle before you've even started it with regards to privacy. Or go get an old school flip phone and think you're outsmarting everyone. Privacy stopped existing about 15 years ago. Don't give it away if you can, but stop fooling yourself if you think you're smarter and can hide.

Goran_K says

Nice. I'm actually going to be in Seattle all next week.

I like the Tom Douglas restaurants. Check out the Dahlia Lounge if you have a chance.

HeadSet says

You do realize that Uber tracks and records all your trips with them.

OOPS! No transporting dead bodies in surfboard bags with Uber any more!

Ceffer says

HeadSet says

You do realize that Uber tracks and records all your trips with them.

OOPS! No transporting dead bodies in surfboard bags with Uber any more!

Yes, always use taxis.

I use cash for very few reasons.

- haggle over taxes and discounts works better if you pay cash to a small shop. They'll haggle and usually discount for cash off the books.
- privacy (bank doesn't know your transactions)
- easier to keep budget, since it's very visible and shrinks when you spend.

Main reason probably is the fact that I spend less if I use cash, because I really feel and see it. With card it's very easy to go over budget.

WookieMan says

clambo says

I don't have a credit card abuse problem nor a balance problem; but if I use cash I can clearly see the results of my spending unlike a credit card.

Not saying you do, or I don't think I did.

How can you not see the spending results on a CC though? Pay for things you'd have to with cash as usual (mortgage, car payment, etc) and run daily expenses on CC. Using a card or account # either way. Look at the statement. I'd like to think I'm hip, but kind of thought online banking was a thing now.

Physical cash is just foreign to me and maybe that's a function of my age I guess. I see zero use for it in 99.99% of situations outside of catastrophic instances where it will likely be useless anyway.

I know it's being connected and big brother will get you for doing al...

They have turned you against yourself and you don't even realize it. No reason for physical cash transactions when conducting LEGAL business? Who The Fuck are you to determine that? That's taking the position that one SHOULD use electronic transactions only, because if you use cash you're probably doing something illegal, again, SAYS WHO?

Ever try to buy something where the P.O.S. system has failed? Data uplink down? Card not reading right? That kind of shit happens all the time, and I would just as soon avoid it.

You obviously don't understand the charges that these electronic transactions actually increase the cost of whatever you are buying and enrich the processing companies either.... Fuck the money changing scum...

I don't think it's prudent to pay 3%-5% extra for what I am buying so that I can get bullshit cash rebates/miles/points. You'll never recoup the losses (vig) for the cost of your horseshit convenience....

ForcedTQ says

I don't think it's prudent to pay 3%-5% extra for what I am buying so that I can get bullshit cash rebates/miles/points. You'll never recoup the losses (vig) for the cost of your horseshit convenience....

Right. But this works only if the merchant offers cash discounts (like many gas stations around here, for example). Otherwise you are pretty much paying these "3%-5% extra" just like CC guys but don't get any bullshit points back.

Hugolas_Madurez says

ForcedTQ says

I don't think it's prudent to pay 3%-5% extra for what I am buying so that I can get bullshit cash rebates/miles/points. You'll never recoup the losses (vig) for the cost of your horseshit convenience....

Right. But this works only if the merchant offers cash discounts (like many gas stations around here, for example). Otherwise you are pretty much paying these "3%-5% extra" just like CC guys but don't get any bullshit points back.

Yes, realize that. But that's because the majority of the fucking sheep don't even know or understand this. The sellers have this baked into their prices. It's up to those in the know to educate the purchasers as to the costs they incur when purchasing.

Gotta ask for cash discounts or go elsewhere when purchasing. I know, I know, NOT CONVENIENT! My feelings hurt and I don't wanna go shop somewhere else....

Up until earlier this year, used cash for nearly everything I could. Then I had some large purchases on a credit card (which, is paid off right away) and got a windfall from the "cash back". Now I am hooked on the credit card for the "cash back".

But... still pay cash at the gas station. My understanding is, still a lot of fraud on those card readers on the gas pumps. And also like "BayArea" said, for group meals. I have found that having a bunch of $1 bills is handy for such occasions.

It is good to have some cash, hipsters. We live on two major earthquake faults, with only 80, 580 and 101 for access to the outside world for we five million here. Most of our water comes in pipelines from a very long ways-away, over-under mountains and across earthquake faults. We are vulnerable, and while we're not as isolated as Puerto Rico was after the hurricane, we could become isolated.

it could be a week or two before normalcy.

Cash may be more handy in an emergency than all our Cool-And-Hip electronic forms of payment for a while after a disaster. I recall seeing on the news some stores in Puerto Rico that had stuff like bottled water were only taking cash for a while.

Hugolas_Madurez says

ForcedTQ says

I don't think it's prudent to pay 3%-5% extra for what I am buying so that I can get bullshit cash rebates/miles/points. You'll never recoup the losses (vig) for the cost of your horseshit convenience....

Right. But this works only if the merchant offers cash discounts (like many gas stations around here, for example). Otherwise you are pretty much paying these "3%-5% extra" just like CC guys but don't get any bullshit points back.

If they use Square they are paying through the nose. A good reasonable rate is usually between 1.5% to 2.25%. I usually negotiate discount for paying cash if I can, but yeah not everywhere. Saved me $80 on last purchase where we agreed I don't pay taxes (10%) if I pay cash.

B.A.C.A.H. says

But... still pay cash at the gas station. My understanding is, still a lot of fraud on those card readers on the gas pumps. And also like "BayArea" said, for group meals. I have found that having a bunch of $1 bills is handy for such occasions.

That's how they got my Debit card and cash. Gas stations are the worst for using a Debit card. They can compromise my credit card if they want, it takes 2-3 days to get a new one with the fraudulent charges removed.

willywonka says

Check out the Dahlia Lounge if you have a chance.

That menu is fire. I'll have to visit for sure.

FortWayneIndiana says

- haggle over taxes and discounts works better if you pay cash to a small shop. They'll haggle and usually discount for cash off the books.

There we go. Good reason to use cash and good point.

ForcedTQ says

Ever try to buy something where the P.O.S. system has failed? Data uplink down? Card not reading right? That kind of shit happens all the time, and I would just as soon avoid it.

I'm probably game for 2 swipes a day on average. Never happened in 15 years or so. I live in rural IL on the outer edges of Chicago, so not necessarily transacting in a major city all the time with solid connections. Might be an issue other places, but never experienced it around me or including my frequent travel to foreign countries. Sorry it's been an inconvenience for you as a cash user....

ForcedTQ says

I don't think it's prudent to pay 3%-5% extra for what I am buying so that I can get bullshit cash rebates/miles/points. You'll never recoup the losses (vig) for the cost of your horseshit convenience....

You'll never know if you're paying 0.00002% more or 20% more as a merchant can charge whatever they want, cash or credit. As others have said you're likely paying 2% tops extra, along with the cash people who have likely lost a good chunk of money falling out of their pocket over a lifetime. I probably find $40-60 annually. Also, I'm sure the businesses with cash on hand have insurance for crime (aka robbery) but let's not account for that cost to the merchant I guess... hell, they're so nice, they would never pass that cost on to you.

CC points are also relative to how they're redeemed depending on the program. I've calculated about 8-10% back depending on the points used for the flight overall. I can promise you I'm not paying $8k extra on $100k worth of purchases because of a CC. I can tell you that I enjoy the $8k worth of free flights and hotels while people that can't manage money bitch/whine about those that can or are afraid of a threat they can't even identify.

ForcedTQ says

They have turned you against yourself and you don't even realize it.

I'm sure there's a parent company for them, but you own stock in Reynolds Wrap or something? I'll put my hat on for now though. You've posted a comment on this site. I'm sure you use other websites. Big Brother's got you my friend. A credit card doesn't make a damn difference in the grand scheme (protects your finances more if you're honest). Enjoy hanging out in your bunker with mounds of cash and gold when 2 armed dudes take it all and leave you for dead. The ONLY thing of value when the shit hits the fan is your POWER and LEVERAGE. Guns, food and water all provide both while no one will give a shit about made up currencies and commodities (plastic or paper).

If the apocalypse happens and I have $0 and a gun and you have $3M and an unlocked front door, what do you think the outcome is? I've got your useless cash until the next guy with bigger guns takes it from me. So yeah, unless you're selling drugs or gambling, cash generally is not king in a physical transaction during normal times or even the zombie apocalypse.

Goran_K says

They can compromise my credit card if they want, it takes 2-3 days to get a new one with the fraudulent charges removed.

Another solid point.

Feel like I've touched a nerve here though with a few people. Sorry. Not intended. You don't have to like it, you can try to fight it, but cash is mostly dead outside of gambling, drugs and tax evaders. Some of the defenses here make me think some of the users amongst us are drug dealers or purveyors of illicit activities. I don't care what you do in all honesty, just don't BS the reality about cash and the times we live in.

I’m not denying any of Wookieman’s points, but rather responding to his original question: what is cash good for?

Another use: staying off the grid. In this digital age, everything we buy using electronic transactions or even store rewards cards can be tracked, tabulated, spreadsheets constructed, and analyzed for future targeted advertising. And this whole process is completely automated. If you don’t want the business world knowing just how often you have to spread preparation H on your o-ring, using cash for such purposes works well.

When SHTF, I’m converting to gold, 22lr, and yams.

ForcedTQ says

Yes, realize that. But that's because the majority of the fucking sheep don't even know or understand this. The sellers have this baked into their prices. It's up to those in the know to educate the purchasers as to the costs they incur when purchasing.

Gotta ask for cash discounts or go elsewhere when purchasing. I know, I know, NOT CONVENIENT! My feelings hurt and I don't wanna go shop somewhere else....

I'm choosing my battles carefully. If I started "educating the fucking sheep" and haggling for cash discount everytime I buy something, I recon my life would become very fucking miserable very fucking fast. I'm postponing it until I'm retired and bored out of my fucking mind and can use some valuable enterntainment. ;)

Goran_K says

When SHTF, I’m converting to gold, 22lr, and yams.

.44ACP here. Not much that’s as menacing as a big long barrel revolver. 2 inch placement at 50 yards says I mean business.

Quigley says

Another use: staying off the grid. In this digital age, everything we buy using electronic transactions or even store rewards cards can be tracked, tabulated, spreadsheets constructed, and analyzed for future targeted advertising. And this whole process is completely automated. If you don’t want the business world knowing just how often you have to spread preparation H on your o-ring, using cash for such purposes works well.

Totally get your sentiment. But you are literally going to have to get "off" the grid entirely then for it to even be worth the hassle. NO bills, NO mortgage, NO utilities, NO internet, etc. You get targeted advertising based on your electric consumption, which if you have an account is impossible to hide or avoid. Same with mounds of other shit they have data on. Hell, test out a crappy service like Spokeo.com and you'll see you're walking around naked privacy wise. In a past life I used services like this and you'd be surprised how public your stuff is.

If your privacy is a boat hull and water is the "bad guys" so to speak, your electric bill is a 1" hole in your boat. Mortage is a 2" hole. Internet 4" hole. I think you get the point. Fight the battle all you want, I won't stop you. Just know your privacy sank a long time ago when you got an internet connection.

In all honesty, your best bet is to change your name. Not kidding. Make it a common name that will confuse search engines and the like. A lot harder to pinpoint John Williams versus Harvey Nutowski. You've got 10k J.W.'s and 3 total Harvey Nutowski's in the world.

Quigley says

Goran_K says

When SHTF, I’m converting to gold, 22lr, and yams.

.44ACP here. Not much that’s as menacing as a big long barrel revolver. 2 inch placement at 50 yards says I mean business.

I agree. But 1,000 rounds of .44 mag is heavy to carry.

1,000 rounds of 22lr is trivial to carry.

I checked in and read a bit while being MIA posting here, but my apologies for going apeshit with the YOU(s) in comment 44. That red really highlights it and I know why it was done from my checking in.

@Patrick - one thing I don't like with the YOU thing is the HTML when quoting. Sometimes I like to reread something while typing a comment and there's a shitload of HTML tags in some of the quoted stuff due to YOU being in the comment along with making it red. You can keep it or dump it, doesn't really bother me either way technically. More of an observation (aka it annoys me slightly).

WookieMan says

If the apocalypse happens and I have $0 and a gun and you have $3M and an unlocked front door, what do you think the outcome is? I've got your useless cash until the next guy with bigger guns takes it from me. So yeah, unless you're selling drugs or gambling, cash generally is not king in a physical transaction during normal times or even the zombie apocalypse.

That is hilarious. Like there's no other scenarios between, where a bit of cash can be useful. Hilarious.

When my partner and I were both sidelined with the flu (not a cold, the "flu") we sent our then 16-year old out to get some household staples. She used some of the "contingency cash" we had in the house.

The reason I can see my spending easily when I use cash is I remember that I stuck 2 $20 bills in my wallet for example.

As I start spending it away on things I see that my wallet has less money in it and finally just a buck is left. I see the depletion.

With my credit card, I don't see anything unless I take a look at my statement.

Anyway, I have the fortunate circumstance of being able to pay for things that I want; I just hate spending money sometimes unless it's something I think is really going to make me satisfied.

i hate standing in line and I'm sure most people also...so I asked a friend what doesn't he keep some cash at home so he doesn't have to run to an ATM when he needs $50 or $100..he gave me the standard reply that he doesn't like to have cash because it can be stolen.....
So I asked him why was he worried about $100 cash getting stolen but he keeps $15,000 worth of Snapon tools in his garage only secured by a padlock on the door and doesn't think twice about it....
He had no answer..lol
Other typical reasons are "I dont like to carry cash on the street because I could get robbed...But I'll carry an $800 smartphone, a rolex watch, gold jewelry, $200 sunglasses......lol

1. Some ethnic eateries in Houston area take only cash or prefer cash for smaller purchases.
2. I buy some vegetables and meat from local farmer friends, they take only cash.
3. Traveling in W. Texas, there have been 2-3 cases in remote communities in last few years when internet connection did not work and I could not use card.

Snapon tools in his garage

Snapon tools are serious overkill for a homeowner. Not unusual for a 5 piece screwdriver set to cost $70. Or $30 for a single torx driver.

B.A.C.A.H. says

That is hilarious. Like there's no other scenarios between, where a bit of cash can be useful. Hilarious.

When my partner and I were both sidelined with the flu (not a cold, the "flu") we sent our then 16-year old out to get some household staples. She used some of the "contingency cash" we had in the house.

Not really, and not sure why it's funny. Never said cash is NOT EVER an option. I've used my MIL's credit card probably 50 times without her present, with her permission of course. I was the guy willing to run out and pick up supplies for the afternoon of hanging out (beer, wine, grillables, etc) and over the last decade I'd pick up the stuff and other times she insisted she pay for it. No cash, no change to deal with. Win-win if you ask me.

If you want to use cash for someone to run and get you shit if you can't, fine, I'm not actually judging that or care. All I'm getting at, in this specific example is that you don't NEED cash for your situation. Hand a card off, voluntarily of course, and they can get the same stuff with zero hassle. (For the record I'm a male and my mother in law is a female with completely different last names - unfortunately clarifying this is necessary)

komputodo says

Other typical reasons are "I dont like to carry cash on the street because I could get robbed...But I'll carry an $800 smartphone, a rolex watch, gold jewelry, $200 sunglasses......lol

You make a valid point here to some extent. I'd say the smartphone is a wash though. Good luck today being employable without even a basic smartphone (calls/text obviously, but email and web access).

What you decide to wear or accessorize yourself is a risk you have to accept I suppose. Or traverse the world nude.

You generally HAVE to have some form of payment with you though when you leave the house. Whatever method of payment that is, I don't actually care, but one carries a greater risk of being taken with no recourse outside of a police report and the cops not giving a shit over a $200 theft. Take my CC and 3 minutes later I can get a phone (if that's been stolen) and cancel the CC. Cash is gone, done, disappeared, etc. Thug could run over to Target 2 minutes after robbing me, charge $3k worth of goods and I don't owe a dime.

I'm sure I'm coming across as a dick, but I still don't get it. Your house isn't your physical person walking around. I could conceal carry of course, but even that doesn't guarantee anything if you're outnumbered. Hell, you're more likely to probably die in a robbery situation because you know the cash will be gone IF you choose to hand it over. If I'm in a stick up situation, just give 'em your wallet and move on. I can replace the items in my wallet in roughly an hour, so time really isn't a factor either.

clambo says

With my credit card, I don't see anything unless I take a look at my statement.

Anyway, I have the fortunate circumstance of being able to pay for things that I want; I just hate spending money sometimes unless it's something I think is really going to make me satisfied.

I hear you and don't think you're wrong for doing what works for you. I'm just looking at it differently I guess. I can look at my CC activity quicker than pulling out my cash and counting it. I have notifications for when the CC is used.

If I have a wad of 20's in my wallet and one (or more) slips away, it's just gone. My CC slips out and someone buys a home theater system with it, no worries. I don't know, guess I'm beating a dead horse here. Not saying opinions here are wrong, but where I live, carrying cash is really impractical and the people up in arms over a bank branch closing are frankly minimally retarded at some level. Haven't pulled cash out of anything over the last decade besides maybe 2 times at a casino. To each their own I suppose.

What about the pre-puberty lambs?
What should they use?

ForcedTQ says

Yes, realize that. But that's because the majority of the fucking sheep don't even know or understand this.

HeadSet says

Snapon tools are serious overkill for a homeowner. Not unusual for a 5 piece screwdriver set to cost $70. Or $30 for a single torx driver.

There's also the fact that it's very likely insured via homeowners insurance too. So yeah, it's not an apples to apples comparison from the comment you were acknowledging as well.

Now walking around with $15k of Snap-On tools strapped to your chest, then we can start talking. Lol, good luck doing that regardless how expensive they are. Literally proves the cash is stupid point even further. At least you could stab someone with a screwdriver. A $20 bill ain't gonna do the trick.