Who carries no cash?

[amreen]

I try to carry a small amount cash. My wife helps with the "small amount" part because sometimes I go looking for a couple dollars that were there yesterday, only to find they had been deducted from my wallet without notification, permission, nor apology.

I have since been squirreling away an emergency 20 in my wallet's secret pocket in case a happy hour breaks out.

Lol! That's wise!

[disneysteve]

I always carry cash and a credit/debit card. We should always be prepared at all times.

This is my theory. I'm really surprised how many people have responded and said they carry no cash at all. I would never walk out of my house without money in my wallet.

[shaggy]

This is my theory. I'm really surprised how many people have responded and said they carry no cash at all. I would never walk out of my house without money in my wallet.

I have a $20 under the orthotic in my shoe, too. Just in case I need to find my way home without my wallet, if you know what i mean.

[cypher1]

I keep 80-200 in my wallet. No particular reason other than to have it in case I ever need it. Having cash on hand doesn't temp me to spend anymore. Otherwise 95% of the time I pay with my credit card. I'm actually thinking of leaving my check card at home and getting an ATM card instead.

[Wino]

Quick story:

Long ago, I was in a car that swerved to avoid a dog and went into a ditch. A vulture (Texan for "tow truck driver") showed up in about 15 microseconds, which is slower than average. He would only accept cash. Luckily, I had $20 in my wallet, which got us out of the ditch and back on the road.

He would not take a credit card, check, or other form of payment.

I always keep a $100 USD bill hidden in my wallet, as well as maybe another $100 or so (equivalent, as I'm in Dubai) in the visible parts of the wallet.

[~bs]

This is my theory. I'm really surprised how many people have responded and said they carry no cash at all. I would never walk out of my house without money in my wallet.

I consider the debit & credit cards in my wallet to be money.

Back in 1200 bc, cowry shells were used as the common medium of exchange in ancient china. Do we still need to keep those tucked away "just in case"? In the 1930s, then the 1960s we moved off the gold standard, and fiat currency was introduced. I'm sure many people did the same and tuck their coins away initially and still wanted to use "real money". But it eventually gave way to a fiat currency, which was adopted by almost all countries around the world.

Today, we're transitioning to digital currency. Banks don't even carry large amounts of currency anymore, and the vast majority of "money" is electronic data stored on computers. I'm not a huge fan of the movement because it becomes A LOT easier for the government to keep track of your income, spending, potential tax avoidance, criminal activities (privacy issues), but I'm also not going to be the one stubbornly telling customers "cowry shells only". My small business would not exist, would not survive with physical currency only transactions. Even if I used negotiable instruments only - checks, cashier checks, MOs, etc., it would be a large enough inconvenience, that potential customers would not bother with it. I spend 60- 100k/month on business type spending,and if someone is dumb enough to tell me "cowry shells only", I'll simply take my business elsewhere.

[My English Castle]

Really? No cash at all?

I'm surprised at the number of people who say they have no cash. I feel very odd without at least $10-20 in my wallet. When school is in session, my morning coffee is in cash. It's less than $2, but I always tip. And I got very used to going to garage sales or estate sales with some cash.

[asmom]

I don't carry cash and I have been caught off guard a couple of times when I was in a place that needed cash for some reason or another. It's not intentional, but no-cash is my lifestyle now.

[bjl584]

I carry very little cash. I use my debit/credit card 99% of the time. But, I do keep some cash on me for things like leaving a tip at a restaurant.

[disneysteve]

I consider the debit & credit cards in my wallet to be money.

That's true, but there are still times when cash in necessary or at least preferred.

Many gas stations charge extra when using a credit card. I got gas just this morning. The station charged 10 cents more per gallon for credit - I paid cash. Why would I want to spend an extra 10 cents/gal?

There is a local Italian restaurant that we enjoy. They only have valet parking, so I need a couple of dollars to tip the valet. They also have a coat check, so I need cash to tip the attendant.

When we attend events at the local convention center, we take the train to get there. The ticket machines only take cash. Once we arrive, the coat check there also only takes cash.

Some vending machines now take credit cards but most are still cash only.

Many small businesses accept credit but have a minimum charge so if you aren't spending that much, you need to have cash. Plus to help out the independent merchants, I'll often pay cash anyway so that they don't get hit with the 3% charge.

At work, we'll sometimes order lunch. Everyone puts in their money and one person goes to pick up the order. I can't hand them my credit card - I need cash. If my wife and I go out to dinner with friends and want to split the bill, we need cash. From our synagogue, after youth group events, a bunch of us (like 20 people) often go to Friendly's. When the bill comes, we pass it around and everyone puts in their cash for what they had. A credit card won't work in that setting.

My wife and I enjoy going to the casino. Usually, those trips are planned and I stock my wallet accordingly, but occasionally we end up stopping at a casino spur of the moment because we happen to be in the neighborhood. I suppose I could get a cash advance and pay some ridiculous fee but it is certainly better to have cash on hand. And yes, I do have an ATM card but if there isn't a branch of my bank in the area, I'd have to pay to take out money. I'm certainly not doing that.

We like to shop at yard sales and flea markets. Cash only at those places.

And that's just a partial list. I can think of plenty of other times when cash is either the only option or the preferred option.

[MonkeyMama]

That's true, but there are still times when cash in necessary or at least preferred.

...

And that's just a partial list. I can think of plenty of other times when cash is either the only option or the preferred option.

I think this is just different strokes for different folks. Though I do keep a $20 in my wallet from the *old days* I could easily go years without needing it. I'd be perfectly comfortable with not carrying any cash in my wallet. Usually if there is some need for cash, there is also plenty of a heads up.

Some rebuttals:

**Credit card gas station rewards are more lucrative than cash discounts

**I don't pay for parking if at all possible. If I have to, I know well ahead of time.

**I've never been on a train that didn't take credit cards for fare - we just don't have "cash only" payments around here

**Yeah, I am not a valet/coat check gal - just not stuff we would spend money on

**I don't remember the last time I used a vending machine - generally a ripoff.

**I don't shop or eat out very much so don't frequent small businesses

**I don't go out to eat with co-workers unless it is planned ahead of time - is a rarity for me. That said, I don't remember the last time I went out with one other person or a small group and wasn't asked up front if we wanted to split the bill. This is one of those things that seems to be a non-issue. I don't go out in large groups.

**I have a credit union - I can get cash at almost any credit union if I need to - no fees. If I decide to drive to Vegas tonight on the spur of the moment I can go get cash when I get there. OR anywhere for that matter. *shrugs* {That said, I never go to the ATM either. Like, I don't remember the last time I went to an ATM}.

**As to wino's experience, that is why I have AAA and a cell phone. Even without AAA I could call a tow truck company and pay over the phone or find one that accepts credit.

**Yard sales - Sure, if I am going to go yard sale shopping I will take some cash. Or I can go buy some items (if it is spur of the moment) and say "be right back with payment." OF course, this has happened *never.* So it's a viable option for a very rare event.

I can understand why some people feel they have more need for cash. Fair enough. Some of us just have very different circumstances and spending habits. Many of us navigate fine without having any use for cash.

We do use cash on occasion. Usually need some for the school more than anything. (I got to come up with $15 for yearbooks, for example, and have gone checkless for the most part so rather just get cash in this instance). But, we always have plenty of heads up. We are more "Go to the bank to deposit cash" types so if we receive a cash gift or payment or reimbursement we generally just hold back what we will know we need and deposit the rest. This is why I mentioned we never particularly go to the ATM. ATM us is mostly for Craigslist deals (my spouse tends to buy things at discount and re-sell. You never know when a deal will pop up). Can always stop at the ATM on the way out - no biggie. I suppose school and Craigslist are our two biggest cash needs.

[rennigade]

That's true, but there are still times when cash in necessary or at least preferred.

Many gas stations charge extra when using a credit card. I got gas just this morning. The station charged 10 cents more per gallon for credit - I paid cash. Why would I want to spend an extra 10 cents/gal?

I remember reading in a thread a while ago that you hate when gas stations have different rates for cash/credit...and that you avoid those. Have you changed your mind?

I one gas station I like to use also offers different prices for cash/credit. Even with credit its still cheaper than all the rest around by almost 25cents...dont ask my why. I dont know what the laws are regarding the pricing of fuel.

[breathemusic]

I almost never carry cash specifically because I find it easier to spend on the little crap like vending machines and other "wants" that I really shouldn't be spending my cash on anyway. If I carried cash in my wallet just for the very rare instances when I actually needed cash, I'd probably end up spending it more than I needed to and just have to pull out more cash.

[disneysteve]

I remember reading in a thread a while ago that you hate when gas stations have different rates for cash/credit...and that you avoid those. Have you changed your mind?

No, I haven't changed my mind. Unfortunately, more and more stations have switched to charging different prices. It used to be only a few places and I would avoid them. Now, most of the stations I regularly go to have switched. When one of my credit cards is giving 5% back on gas, I'll use the card since 5% off of $3.30/gallon is better than the 8 or 10-cent cash discount. The rest of the time, however, I'll pay cash to get the lower price.

[GREENBACK]

I usually carry between $50 to $100 with me but rarely spend much cash. I once walked out of my doctor's office and forgot to stop to make my co-pay. They sent me a bill a week later (I had completely forgot) with no questions asked. I don't know if they would routinely do that but they didn't seem overly concerned that they hadn't gotten paid on the day of my visit.