Cash in Your Wallet

Questions on how we spend our money and our time - consumer goods and services, home and vehicle, leisure and recreational activities
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tao
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Cash in Your Wallet

Post by tao »

Bogleheads, how much cash do you carry in your wallet? The other night I was out for dinner with a group of friends, and when the bill came noticed that two of the friends -- both born in central Europe although immigrants to the US for additional context -- shuffled through 50 and 20 bills from their wallets in what amounted to I'm sure several hundred dollars before paying their share. I, in contrast, was carrying about $100 in a mix of 20s and smaller bills which is my standard "in my wallet" amount. And in contrast, I've been out with friends who also seem to take pride in not caring only cash at all and use plastic all of the time. Avoiding the non-cash carrying extreme for a moment, for those of you who do carry cash in your wallets, purses, handbags, etc. how many dollars do you tend to have in your wallet at any one time? For instance, how much are you carrying right now? Obviously, there are pros and cons of carrying varying sizes, so I'd be interested in taking a sampling of those on this forum to get a sense of what's right, or whether my $100 "in my wallet" amount is too high or too low. I'm not including any cash held at home/in safes, etc. -- simply cash on hand with you when you're mobile.
Retread
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Re: Cash in Your Wallet

Post by Retread »

There have been several previous threads on this subject, and I'm amazed how little some people carry. I usually have $200 - $300 in my money clip (no room in the wallet) although I don't buy all that much with cash. I got in the habit of carrying a fair amount when I often rode on motorcycle rides with large groups and it was handy to have cash for lunch and gas stops.
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veekay
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Re: Cash in Your Wallet

Post by veekay »

About $100. I really only use the money for haircuts and a couple of hole-in-the-wall restaurants that only accept cash. I use credit cards everywhere else, for the rewards points.

And when it comes time to split the bill at restaurants, I usually offer to pay with my CC and everyone else just gives me cash for their share. It's like getting a discount on my meal. : )
Last edited by veekay on Sat Dec 28, 2013 1:16 pm, edited 1 time in total.
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LadyGeek
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Re: Cash in Your Wallet

Post by LadyGeek »

This thread is now in the Personal Consumer Issues forum (how you spend your money).
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livesoft
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Re: Cash in Your Wallet

Post by livesoft »

veekay wrote:And when it comes time to split the bill at restaurants, I usually offer to pay with my CC and everyone else just gives me cash for their share.
Yep, that's why I have any cash at all in my wallet: people give me cash. Of course, the kids take cash to put gas in my car.

I even use my credit card in soda vending machines because I get 2% cash-back on those 50 cent purchases.

I just spent almost 3 weeks overseas. There was no place that did not take a credit card, so no cash was needed.
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Allan12
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Re: Cash in Your Wallet

Post by Allan12 »

I very rarely carry more than $5, living in nyc.

Edit..main reason is to have all credit transactions for mint.
thewizzer
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Re: Cash in Your Wallet

Post by thewizzer »

I currently have no money in my wallet. I had $2 in my wallet two days ago, but I spent it. I rarely have more than $40 on me.
Mill
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Re: Cash in Your Wallet

Post by Mill »

At the moment I only carry 1 credit card. Its a Discover so there are some merchants that don't accept it. Therefore I have to keep some cash on me at all times. Its usually about $300.
island
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Re: Cash in Your Wallet

Post by island »

Interesting DH and I were just talking about this last night after an observation when visiting family.

Most of his brother in laws that live in the Midwest carry money clips and prefer $100 bills (why?) and one usually carries 1-1.5K! To their wives' chagrin they rarely use credit cards in restaurants, etc which negates the purpose of having rewards credit cards. Not even sure where they carry cards when using money clips and don't understand the point of a clip.

We on the other hand use credit cards whenever possible and hate large bills because most places aren't thrilled to break them.
On a daily basis I rarely have more than a few bucks on me because I have no need for it at work. Today I think there are 2 bucks and some change in my wallet. Usually in our cars there is a $20 and roll of quarters incase we need to use a parking meter when tooling around. Husband doesn't routinely carry much either. Gets a few $20s from the ATM .
Of course that varies when not "everyday", more if going for drinks or dinner with friends, travel, etc, but using credit card with full pay off every month is always our primary go to.
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GerryL
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Re: Cash in Your Wallet

Post by GerryL »

$20-$50 is normal. When I get to $20 or below, I get $40 cash when I pay for groceries (using debit card). When traveling I might take a little more. (That's not counting the $20 bill my late mother gave me in a birthday card at least 15 years ago that is folded up and tucked away somewhere in my purse. Mad money.)
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midareff
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Re: Cash in Your Wallet

Post by midareff »

I carry $200 to $300 in my wallet and keep $500 to $1500 in the home safe. Having said that I try to never use cash. It is dire emergency stuff only.
furwut
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Re: Cash in Your Wallet

Post by furwut »

Allan12 wrote:
Edit..main reason is to have all credit transactions for mint.
Same here. I swipe everywhere so I can track in Mint and earn cash rewards. Typically carry $20 or less.
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ejvyas
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Re: Cash in Your Wallet

Post by ejvyas »

20-50 Many times <10. 3 credit cards and a couple of debit cards
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rob
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Re: Cash in Your Wallet

Post by rob »

@Home - I MIGHT have $60 on a good day.... I have had zip for long periods of time.... I just don't use cash much in normal day to day life.

@Away on Business - I usually grab a couple of hundred in the local currency and maybe the same in USD. More because the US is credit based more than a lot of countries and also nice to have tips or dinner & what not when out with clients and/or coworkers.

I used to carry more in the past because credit was less accepted (plus I used to live outside the US where it's also less accepted).
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LAlearning
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Re: Cash in Your Wallet

Post by LAlearning »

Usually 20 bucks....and a $2 bill my dad gave me back in the day. If I know I'm putting gas in the car and the cash-only is cheaper than credit card (after rewards taken into account), then maybe $40....

Why risk losing it/being robbed?
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Raymond
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Re: Cash in Your Wallet

Post by Raymond »

Usually $100 in ones or twenties.

Just in case the zombie apocalypse happens :P
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Calm Man
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Re: Cash in Your Wallet

Post by Calm Man »

About 250 or 300. Came in very handy the other week when I had a fender bender, headed to one of those local body shops and had to put down 240 for them to order parts. I use the cash for anything less than $20 and now at restaurants and gas stations after a few breaches. I don't use a money clip. I just have them folded up in half with the ones on top. If I ever got robbed it would be my pleasure to make the criminals happy by their getting $250 or so.
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NightOwl
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Re: Cash in Your Wallet

Post by NightOwl »

$200-$300 in 20s, for various reasons. I mostly use my Amex.
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6miths
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Re: Cash in Your Wallet

Post by 6miths »

No wallet and therefore no money in it. I might have a bill or two in my pocket now and then but not very often.
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FRANK2009
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Re: Cash in Your Wallet

Post by FRANK2009 »

A couple of bucks for a snack or soda. A twenty in the car console for emergency fuel. Everything else goes mostly on my Amex card. The card is obsessively tracked and paid off as soon as the charge appears.
Barefootgirl
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Re: Cash in Your Wallet

Post by Barefootgirl »

I swipe everywhere so I can track in Mint and earn cash rewards.

Hi, could someone point me to the link for more info on this program? Thanks
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Toons
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Re: Cash in Your Wallet

Post by Toons »

I just checked 140.00
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Sriracha
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Re: Cash in Your Wallet

Post by Sriracha »

I prefer plastic, but I carry <= $100 mostly b/c I frequent hole-in-the-wall ethnic restaurants that don't take cards.
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hillman
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Re: Cash in Your Wallet

Post by hillman »

Barefootgirl wrote:I swipe everywhere so I can track in Mint and earn cash rewards.

Hi, could someone point me to the link for more info on this program? Thanks

Mint.com

Also, there have been several posts on this site arguing the pros/cons and security concerns.
FWIW, I'm a user.
IMD801
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Re: Cash in Your Wallet

Post by IMD801 »

I carry a lot of $1 bills around. For reasons.
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Re: Cash in Your Wallet

Post by S&L1940 »

Unless I know I will need cash for something, I am usually at zero dollars. I may carry a few singles just in case.
The majority of purchases (even $1.00 at the supermarket) are by credit card.

Since I do not carry a monthly balance it costs me nothing and I pick up the few points that the cards rebate for most of my spend. This way I track my money and have a clear spreadsheet picture of where the money goes. When I am at the dinner table and the only one paying by credit I always ask if it is okay to collect the cash and put the full check on my card; some folk are not happy with the exchange. :annoyed
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Index Fan
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Re: Cash in Your Wallet

Post by Index Fan »

I use credit cars for most purchases myself. I carry a $20 bill and a bunch of $1 bills for emergencies, and because it looks like a lot of cash if I were ever robbed :)
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Caduceus
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Re: Cash in Your Wallet

Post by Caduceus »

Usually around $20. I don't like paying for things with cash because then I get change in coins. If I'm overseas, that's different and I withdraw a little more.
Texas hold em71
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Re: Cash in Your Wallet

Post by Texas hold em71 »

Usually no more than $40.
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Tortoise
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Re: Cash in Your Wallet

Post by Tortoise »

$20 currently in the wallet, but I rarely use cash anymore.
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Ged
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Re: Cash in Your Wallet

Post by Ged »

Usually around $150. I don't like to use credit cards for small purchases, gasoline or at restaurants because of experiences with fraud.
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EternalOptimist
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Re: Cash in Your Wallet

Post by EternalOptimist »

I carry $40-$60......try to put all on credit cards.
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John3754
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Re: Cash in Your Wallet

Post by John3754 »

I have a few quarters stuck in my wallet because I occasionally need them for parking meters. That's it for me.
Woodshark
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Re: Cash in Your Wallet

Post by Woodshark »

I always have cash. Seldom less than $20 or more than $100.
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Steelersfan
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Re: Cash in Your Wallet

Post by Steelersfan »

Woodshark wrote:I always have cash. Seldom less than $20 or more than $100.
+1
tbradnc
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Re: Cash in Your Wallet

Post by tbradnc »

For years I've carried a $100 bill tucked inside my wallet with my credit cards for emergencies.

Other than that, I'm all over the map - may have none - may have a few hundred dollars.
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Re: Cash in Your Wallet

Post by ieee488 »

I usually carry $40-$60.
Cash does wonders if you are in a pinch.

I remember almost 20 years ago, I was in an accident driving home from work.
These days I would have left work early.
Nonetheless, fortunately, a police car arrived soon, and I was taken to the nearest police station.
Even more fortunately, I was able to call a cab to drive me home.
Fortunately, I had cash in my wallet to pay the cab driver.
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mlipps
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Re: Cash in Your Wallet

Post by mlipps »

I have two local businesses that are cash only. Otherwise, I basically only use a credit card. I love going out with friends and collecting their cash to put the tab on my card, more rewards for me! Since there is an ATM in the lobby of my office which dispenses $10-200, I basically never have cash. If I get it, I just deposit it the next day at work as well.
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Tycoon
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Re: Cash in Your Wallet

Post by Tycoon »

I'm never really sure how much money is in my wallet. This thread tweaked my curiosity. So, after further investigation I found that there is $723 in my wallet earning absolutely nothing. Time to head the the bank. :oops:
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Re: Cash in Your Wallet

Post by abuss368 »

Most times I am lucky to have $10 - $20 in my wallet. Usually it is $0. I figure an ATM is right around the corner if need be.
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tim1999
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Re: Cash in Your Wallet

Post by tim1999 »

Usually between $20 and $60.
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frugaltype
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Re: Cash in Your Wallet

Post by frugaltype »

$100 to $200 in $10 to $1 bills. I shop at some places like farmers markets, do it yourself carwash, etc. that are mostly cash. Also, since I stopped using my credit card at the local 7-11, my card hasn't been compromised, so I use cash there.

It's also an emergency measure. Some years ago I was on a power failure area and the store I was in couldn't process credit card transactions.
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Re: Cash in Your Wallet

Post by Sheepdog »

Seldom over $40, but normally it is under $20. I use a CC for everything over $5, and sometimes less.
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Watty
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Re: Cash in Your Wallet

Post by Watty »

I typically have about $100.

I've had had a least twice in my life when have been in a widespread power outage and having some cash was reassuring since the few places that were open were cash only.
denovo
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Re: Cash in Your Wallet

Post by denovo »

As little as a few bucks to around 100 bucks.

I've seen a few people here and in other places mention they keep a relatively large sum of money in their home $500 to a few thousand, in their home for emergency purposes. I can't think of any situation where I would need that kind of money in an immediate emergency situation. What am I missing? Do other people have more interesting lives than me that lead them to emergency situations where they need that kind of money?
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in_reality
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Re: Cash in Your Wallet

Post by in_reality »

Today 300 as expecting a 200 taxi fare (cash only).

At home, at least 500 unless I dip into it. The reason is that in a high frequency earthquake zone having a little $ in the emergency bag may really pay off someday. If it gets stolen for some reason well so what (highly unlikely though). That's just the part of the cost of living.
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Re: Cash in Your Wallet

Post by denovo »

in_reality wrote:Today 300 as expecting a 200 taxi fare (cash only).

At home, at least 500 unless I dip into it. The reason is that in a high frequency earthquake zone having a little $ in the emergency bag may really pay off someday. If it gets stolen for some reason well so what (highly unlikely though). That's just the part of the cost of living.

I wonder how many people with a stash in the house that is never used for several years end up forgetting about it. :)
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fkampere
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Re: Cash in Your Wallet

Post by fkampere »

I have a $20 in my wallet right now no more than $100 but use credit card for everything so it gets reported to mint, cashback rewards, and so I don't have change in my pocket.
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mhc
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Re: Cash in Your Wallet

Post by mhc »

I average around $200. If I am in a hurry, it is nice to be able to pay a restaurant bill in cash.
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linenfort
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Re: Cash in Your Wallet

Post by linenfort »

I have changed because of this forum.
I have to carry more than zero as part of the urban survival strategy. That is, it's inconvenient to have less than $20-25 when you're being mugged. You could get hurt.

I usually carry no less than US$20 but no more than $50.
What has changed due to bogleheads.org is the denominations. I think I learned this from the gift card thread and I think it was Wendy W who posted about bank bundles.

I had a revelation: since I also love credit cards and mint.com, I only use cash when I have to. When I do use cash, it's usually for a small item like gum or matinee movie tickets. So no more breaking twenties, and no more cash from the ATM. I get bank bundles of all 5s or all 10s now, and I am happier for it.
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