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Cash Question


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2019 Apr 18, 4:45am   6,202 views  104 comments

by WookieMan   ➕follow (1)   💰tip   ignore  

Who here uses cash for everything? And why?

I carry some cash in case of, well nothing except going to a casino or strip club. My credit card pays me (via points) and I pay it off every month. Reason I ask is my small town has a bank closing and people are all fucking worked up over it. The only need for a physical branch now-a-days is to grab cash and that's what they're upset about. But why?

It's been a decade since I've EVER been in a situation where my CC couldn't get me out of a situation. Cash can get stolen. Debit cards are generally less secure (fraud protection) than CC's. I'm sure it's some big banking conspiracy, tin foil hat shit, but using cash/debit is like having sex with an HIV positive person without protection. Give me your reasons why I'm wrong. Seriously interested.

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1   BayArea   2019 Apr 18, 5:41am  

I carry cash for one reason only... lunch with co workers to avoid throwing 8 credit cards on the table after the meal.

Real men still carry cash
2   Al_Sharpton_for_President   2019 Apr 18, 5:51am  

Drug deals, bribing cops, ....
3   WookieMan   2019 Apr 18, 6:01am  

BayArea says
I carry cash for one reason only... lunch with co workers to avoid throwing 8 credit cards on the table after the meal.

Real men still carry cash


This actually proves my point even more. Take their cash, cover the bill with your CC and get the points. Divide if necessary as I'm sure some won't have cash of course. If you're doing lunch once a week you just paid for a round trip flight by using the CC and likely avoiding an ATM fee you'll take a bath on a couple (dozen) times a year. Splitting bills is actually an easy thing too, just don't cave to bitchy/whiney waitstaff who don't want to do their jobs.

This is what I don't understand. In this (kind of your) scenario you just pissed away $300 on roughly an annual basis for lunches. My opinion, but it's probably more manly to get paid when you spend your own money. It's an opinion, but splitting bills is not a good enough reason, really at all, to use cash. Drugs and cops, yes.
4   BayArea   2019 Apr 18, 6:03am  

Real men don’t worry about points and avoid inconveniencing staff and co workers with their credit card splitting to save a few pennies.
5   Waitup   2019 Apr 18, 6:58am  

International flea markets, garage sales. That is it. Other than that, use cc, pay it off every month, enjoy the points!
6   Tenpoundbass   2019 Apr 18, 7:02am  

I feel awkward with Cash, I use my Debit card for everything. When I get cash more often than not, it's a cash refund for a purchase. Or I split a bill with someone and they paid cash, or someone owed me money. I usually give it to one of my daughters or my wife later that evening when I get home.

For now I trust my banking institution isn't going to abscond with my money in the bank and the electronic debit system isn't going to shut down. That could have changed had Hillary Clinton won or if a Commie gets elected in 2020 or ever for that mater.
7   HeadSet   2019 Apr 18, 7:19am  

I use my Debit card for everything.

Why a debit card? A credit card has unauthorized charge limits. My CC has no annual fee, no interest, and rebates of 1% on all purchases. Some CCs offer higher rebates.
8   Patrick   2019 Apr 18, 7:55am  

I worked with a guy whose debit card number got stolen and had his checking account completely cleaned out. He had no cash and no way to get any more for a week or two until he got paid again. The money that was stolen was eventually refunded by the debit card company, but he had a hard time for a while.

So I never use a debit card at all.

I'll use a credit card where it is demanded for recurring payments, like the server for this website, but generally prefer to pay cash just for the anonymity.

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.
9   cmdrda2leak   2019 Apr 18, 7:55am  

Cash is king. I also skip the ATMs and the fees and instead withdraw a pile of $50 notes about once a quarter and dispense them to myself from a safe at home. I also keep 10k in 50s in another secure spot at home in the event of a prolonged blackout or similar. When a big quake strikes and power is out for hours or days, I'll be buying food and more while credit cards will be useless.
10   WookieMan   2019 Apr 18, 8:18am  

BayArea says
Real men don’t worry about points and avoid inconveniencing staff and co workers with their credit card splitting to save a few pennies.


I'm hoping this is sarcasm. I don't "worry" about points, just get them to the tune of $4-5k/yr value wise depending on how I use them without thinking about it whatsoever. Tax free. So closer to $7k in pre-tax money. Even a dude making $300k will take $7k free and clear with probably 2 hours spent "thinking" about it. Lol $3,500/hr, whatever...

You pay for a service at a restaurant, not sure why they get to dictate how you give them money. They either take how you want to pay them or they'll lose money on the sale (same for waitstaff). Not sure I've met "real men" that give a flying fuck what their co-workers think either. That's why they're co-workers and you're not the boss or owning a business. That's what "real men" do, make people work for them. Next?
11   WookieMan   2019 Apr 18, 8:32am  

cmdrdataleak says
Cash is king. I also skip the ATMs and the fees and instead withdraw a pile of $50 notes about once a quarter and dispense them to myself from a safe at home. I also keep 10k in 50s in another secure spot at home in the event of a prolonged blackout or similar. When a big quake strikes and power is out for hours or days, I'll be buying food and more while credit cards will be useless.


I get your thought process on this. I know of fireproof safes as well. But there's mathematically a higher probability of a safe being stolen or destroyed versus you losing money only having a credit card and keeping money in an FDIC insured bank.

Guns and power will be king during a disaster or economic meltdown. And water/food. Piles of gold and cash won't help me if 2 dudes heavily armed want what I have. Yours is the best case so far though for cash.

Patrick - with facial recognition, receipts, record keeping and having zero faith in secure networks, I would not be surprised at all if the government could track 75% of your cash purchases IF they wanted to. They don't now, probably because of CC's and debit cards, but it could happen quickly if there was a push towards cash only. Come to think of it, I've actually been turned away from businesses while carrying cash because they ONLY took CC's and I wasn't carrying cash at the time. Not having a credit card on me has been a bigger problem then not carrying cash.

Plus I get those hard earned points, that I spent so much time and energy swiping my card for ;) Credit card elbow?
12   zzyzzx   2019 Apr 18, 8:34am  

I still carry cash. I mostly use it on small purchases or if on vacation. Like buying stuff on the AC Boardwalk or going to a bar there.
13   clambo   2019 Apr 18, 8:40am  

I use one credit card for 1. car stuff 2. groceries 3. eating out 4. plane tickets 5. motels

I get some $ back. For car insurance it's 3%. Why not take that discount? Anyway, I recently "redeemed" $438 which I would not have gotten if I had used cash for everything.

The danger with credit card spening is racking it up too fast. Cash gives me more discipline.
14   WookieMan   2019 Apr 18, 8:49am  

clambo says
The danger with credit card spening is racking it up too fast. Cash gives me more discipline.


Of course. But, if you can't use a CC responsibly, you're probably not going to use the cash responsibly either. I know your method you mention works and have seen it work with peers, but ultimately if you can't use a CC responsibly you probably suck with money anyway. As you mentioned, why not get $400 or $4,000/yr back on stuff you need to purchase anyway.

It was kind of why I brought it up. Neither method (cash or cc) works for payment 100% of the time. So ultimately, which one is the most secure and least likely for you do lose your money?
15   CBOEtrader   2019 Apr 18, 8:59am  

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.
16   FuckTheMainstreamMedia   2019 Apr 18, 9:00am  

How else can you pay the hookers?
17   Shaman   2019 Apr 18, 9:04am  

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.
18   WookieMan   2019 Apr 18, 9:09am  

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.
19   WookieMan   2019 Apr 18, 9:16am  

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.
20   Goran_K   2019 Apr 18, 9:58am  

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.
21   WookieMan   2019 Apr 18, 10:16am  

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.
22   clambo   2019 Apr 18, 10:20am  

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.
23   HeadSet   2019 Apr 18, 10:23am  

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.
24   WookieMan   2019 Apr 18, 10:33am  

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.
25   Goran_K   2019 Apr 18, 10:34am  

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.
26   WookieMan   2019 Apr 18, 10:37am  

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.
27   Al_Sharpton_for_President   2019 Apr 18, 10:48am  

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.
28   Ceffer   2019 Apr 18, 10:53am  

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!
29   HeadSet   2019 Apr 18, 10:59am  

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.
30   FortWayneAsNancyPelosiHaircut   2019 Apr 18, 1:23pm  

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.
31   ForcedTQ   2019 Apr 18, 1:44pm  

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....
32   RWSGFY   2019 Apr 18, 1:47pm  

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.
33   ForcedTQ   2019 Apr 18, 2:09pm  

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....
34   B.A.C.A.H.   2019 Apr 18, 2:18pm  

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.
35   FortWayneAsNancyPelosiHaircut   2019 Apr 18, 2:42pm  

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.
36   Goran_K   2019 Apr 18, 2:46pm  

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.
37   Goran_K   2019 Apr 18, 2:47pm  

willywonka says
Check out the Dahlia Lounge if you have a chance.


That menu is fire. I'll have to visit for sure.
38   WookieMan   2019 Apr 18, 3:17pm  

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.
39   WookieMan   2019 Apr 18, 3:21pm  

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.
40   Shaman   2019 Apr 18, 3:26pm  

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.

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