Want to Save Money? Carry Around $100 Bills

[jeffrey]

For shoppers in today's economy, there's just too much temptation out there. Sure, your pockets are tight. But there are clearance sales in every store, and deep discounts down every aisle. So how do you stop yourself from spending? Especially when you know that, during this awful downturn, you should be saving every last penny?

Just arm yourself with $100 bills.

According to a new study to be published in the Journal of Consumer Research, shoppers are less likely to spend their dough if they are carrying cash in large denominations. This so-called "denomination effect" can be a powerful predictor of consumer spending habits. Through a series of experiments, the study shows that if people have an equivalent amount of money, say $100, the folks with a Ben Franklin in their pockets might not part with it, while those carrying Andrew Jacksons and George Washingtons more easily give up that cash...

Want to Save Money? Carry Around $100 Bills - TIME

[disneysteve]

I think that is very true. Many stores won't accept $100 bills. Groceries and bigger places will, but smaller stores, convenience stores and others will not, especially for a small purchase. That can pose a problem, though. If all you happen to have is a $100 bill and there is something you actually need to buy, you could find it difficult so you should always carry a credit card or some other way to pay.

[GREENBACK]

I once only used cash to buy things and if you only have big bills with you you're way less likely to make small impulse purchases. If you have a $100 bill you're less likely to use it to buy a candy bar or a cup of coffee than if you're carrying $5 bills. It's a mental thing but it works. Just don't lose your wallet

[simpleyme]

I think everyone should always carry 20 dollars in cash for emergencies

I always have 3 fives and 5 ones and four quarters tucked away in a pocket in my wallet, set aside from my regular money

we travel a lot and you would be surprised how many people do not accept credit when you leave the city ;-)

[FrugalFish]

I was going to say the same thing Disneysteve said- so many stores in my area won't accept $100 that it would be a great way to save money. We have a large number of stores that also won't accept $50 bills. I hate carrying around those denominations; nothing like getting to the front of the store with a basket of necessities and being told that they can't accept a $50 bill.

[simpleyme]

I have never been turned down in a store when buying a "basket of necessities" but try splitting a 100 or a 50 on tiny purchase just to get change and yea you are screwed ;-)