Physical cash

Non-investing personal finance issues including insurance, credit, real estate, taxes, employment and legal issues such as trusts and wills
Jack FFR1846
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Re: Physical cash

Post by Jack FFR1846 »

I had about $160 before the weekend. I found some side steps on craigslist and spent $100 on them. If I stick to only credit, I spend significantly less.

I would never use cash at the supermarket. A lady in front of me did yesterday. $20.16. She counted out 20 ones and 16 pennies 3 times and still got it wrong. 5 minutes later the cashier counts it out and hands her back a dollar. Wile my order is being rung in, I stick my card in the reader. The process is done before she can reach over and hand me the bag.
Last edited by Jack FFR1846 on Thu Mar 01, 2018 2:59 pm, edited 1 time in total.
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hilink73
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Re: Physical cash

Post by hilink73 »

Valuethinker wrote: Wed Feb 28, 2018 10:12 am Not sure where the EU is on EUR 500 notes, which were the classic way of paying bribes or avoiding tax. Whether they finally agreed to abolish them - I think there is a justifiable suspicion of EU politicians that they would not.
Once in a time, there were those nice 1000 Deutschmark notes, now long replaced by those EUR notes.

Still have the 1000 Swiss Francs notes, though... :-)
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Elsebet
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Re: Physical cash

Post by Elsebet »

We have around $500 in the safe at home but only $20-40 at a time in our wallets.
"...the man who adapts himself to his slender means and makes himself wealthy on a little sum, is the truly rich man..." ~Seneca
hilink73
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Re: Physical cash

Post by hilink73 »

Valuethinker wrote: Wed Feb 28, 2018 10:02 am
Cheyenne wrote: Wed Feb 28, 2018 7:04 am
welderwannabe wrote: Tue Feb 27, 2018 9:35 pm I keep between $100 and $200 in my wallet. I feel better having some cash.
I once had my car towed in NYC and I had to pay $150 CASH to retrieve it from the vehicle impound.
You can pay your traffic ticket in Austria in cash.

Needless to say, Austria has a reputation amongst other German speaking countries for corruption ;-).
Yes. :-)
Probably the same reason why you cannot do that in Germany anymore.
Only cards accepted.
mouses
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Re: Physical cash

Post by mouses »

There have been other threads about cash on hand. I keep about $200 in the house, and maybe $50-$100 in my purse. Having seen a department store near to shutting down after a power failure and only people with cash could complete their purchases, this seems prudent to me. There have been a couple of multiday power failures in my area after storms. Groceries, etc... even though I keep a pantry closet stocked.

On a day to day basis, there are farmers' markets, parking fees, kids selling lemonade, etc.
mouses
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Re: Physical cash

Post by mouses »

Valuethinker wrote: Wed Feb 28, 2018 10:12 am Here in the UK we are moving to polymer money and so £5, then $10 then £20 notes have all reached their end of use dates.
Not biodegradable? That's a lot of pain for the environment.
jminv
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Re: Physical cash

Post by jminv »

I keep 100 in dollars in my wallet mostly for tips and in case I can't catch an uber on a trip back to the states and need to take a taxi.

I keep around 200 in euros in my wallet for day to day expenses, more when I'm travelling.

I used to keep around 3000 in dollars when I lived in a place where ATMs were rare and unreliable, no one took plastic, and where I might need the money to get out if things went south. I kept around 500 on me and 2500 in a safe.
mbasherp
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Re: Physical cash

Post by mbasherp »

I always keep at least $20 in my wallet and $250 at home. In the event of outage or serious disaster, we keep food, water and necessary supplies able to last 2 weeks. I don't anticipate needing to spend any of my physical cash if something serious happened. If it's a minor event, ~$270 will certainly do.
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Darth Xanadu
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Re: Physical cash

Post by Darth Xanadu »

mouses wrote: Thu Mar 01, 2018 3:24 pm
Valuethinker wrote: Wed Feb 28, 2018 10:12 am Here in the UK we are moving to polymer money and so £5, then $10 then £20 notes have all reached their end of use dates.
Not biodegradable? That's a lot of pain for the environment.
Why? Are people filling landfills with GBP bills?
Last edited by Darth Xanadu on Thu Mar 01, 2018 4:36 pm, edited 1 time in total.
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sergeant
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Re: Physical cash

Post by sergeant »

Doom&Gloom wrote: Wed Feb 28, 2018 9:47 pm
whodidntante wrote: Wed Feb 28, 2018 8:08 pm
sergeant wrote: Tue Feb 27, 2018 11:54 pm I'm an AP in blackjack and have kept my gambling money in cash for years. I think there is about 20 grand in a fire safe file box located in the fire proof gun safe.
If you often play at the same place, or just a handful of places, casino credit is an option. You won't incur interest but a float until you settle up. It's better than walking around with 20 grand.
That is a fine option for poker and machine play. It is a terrible option for advantage play blackjack or other table games. Cash or a stash of casino chips is a must.
Correct. I prefer to be "off the grid" when playing. I don't take my full bankroll to every session. I have also lessened my play as I age.
AA- 20+ Years of Expenses Fixed Income/The remainder in Equities.
caffeinefree
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Re: Physical cash

Post by caffeinefree »

Jack FFR1846 wrote: Thu Mar 01, 2018 2:58 pm I would never use cash at the supermarket. A lady in front of me did yesterday. $20.16. She counted out 20 ones and 16 pennies 3 times and still got it wrong. 5 minutes later the cashier counts it out and hands her back a dollar. Wile my order is being rung in, I stick my card in the reader. The process is done before she can reach over and hand me the bag.
Agreed! Checks are probably even worse, half the cashiers don't even know how to process them these days. I've watched cashiers have to go get a manager in order to process a check. If I'm in line behind someone and I see them pull out a checkbook, I switch checkout lanes.

In general, it seems like plastic is just faster and more convenient for everyone involved.
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SmileyFace
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Re: Physical cash

Post by SmileyFace »

I usually have around $100 on me (in wallet) but rarely use it.
I do try to keep some 1's and 5's on me when I travel so I can give couple of bucks for a valet tip if I leave my bag at a hotel for the day and $5 for the maid after a night or two.
I did go to a restaurant once that had "cash-only" Valet parking. That is the only time in recent history where I seemed to be forced to have cash. Other than that - plastic payments everywhere.
mouses
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Re: Physical cash

Post by mouses »

Darth Xanadu wrote: Thu Mar 01, 2018 4:33 pm
mouses wrote: Thu Mar 01, 2018 3:24 pm
Valuethinker wrote: Wed Feb 28, 2018 10:12 am Here in the UK we are moving to polymer money and so £5, then $10 then £20 notes have all reached their end of use dates.
Not biodegradable? That's a lot of pain for the environment.
Why? Are people filling landfills with GBP bills?
What do you think happens to currency when it's too worn to be used? It doesn't stay in circulation forever.
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Darth Xanadu
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Re: Physical cash

Post by Darth Xanadu »

mouses wrote: Thu Mar 01, 2018 5:23 pm
Darth Xanadu wrote: Thu Mar 01, 2018 4:33 pm
mouses wrote: Thu Mar 01, 2018 3:24 pm
Valuethinker wrote: Wed Feb 28, 2018 10:12 am Here in the UK we are moving to polymer money and so £5, then $10 then £20 notes have all reached their end of use dates.
Not biodegradable? That's a lot of pain for the environment.
Why? Are people filling landfills with GBP bills?
What do you think happens to currency when it's too worn to be used? It doesn't stay in circulation forever.
I don't really know :confused I believe the treasury (in US) takes it out of circulation but not sure how they dispose of it after destroying it. But I'm with you, I hope there are controls and processes in place to minimize environmental impact!
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tinscale
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Re: Physical cash

Post by tinscale »

I only use cc's, but carry a $20 in the wallet just in case. Keep $800-1,000 at home for when the electric power and cc machines go out.
Last edited by tinscale on Fri Mar 02, 2018 8:27 am, edited 1 time in total.
Independent George
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Re: Physical cash

Post by Independent George »

I typically keep $50-$100 in my wallet, and about $1,000 in cash hidden at home.

Yes, I know it's losing value every day, and it's not FDIC insured. I still like having physical cash available in case of emergency.
pyld76
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Re: Physical cash

Post by pyld76 »

Less than 20 on me at any given time. There might be 200-300 in the house in a couple of safes. I don't live in a disaster prone area. If something did happen to where cash was a problem for more than the week's worth of water and shelf stable food in the house, the guns in the safe are going to be far more useful than cash or non-lead metals.
nexesn
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Re: Physical cash

Post by nexesn »

We have several thousand in cash in case of emergencies. We live in a big city.... and, if something bad happens (which it has happened before in big cities) we feel comfortable that we have cash in case we need it for any reason.
spammagnet
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Re: Physical cash

Post by spammagnet »

SocalLiving wrote: Tue Feb 27, 2018 8:19 pm
westcoast wrote: Tue Feb 27, 2018 6:22 pma thousand in the house twenty to forty in the wallet.
This is exactly what we do.
+1, but we rarely actually use it. It's for tips and donations outside the grocery store, like Girl Scout cookies or high school fund raisers. Sometimes I forget I have a $20 tucked in my wallet.
bltn
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Re: Physical cash

Post by bltn »

Jack FFR1846 wrote: Thu Mar 01, 2018 2:58 pm I had about $160 before the weekend. I found some side steps on craigslist and spent $100 on them. If I stick to only credit, I spend significantly less.

I would never use cash at the supermarket. A lady in front of me did yesterday. $20.16. She counted out 20 ones and 16 pennies 3 times and still got it wrong. 5 minutes later the cashier counts it out and hands her back a dollar. Wile my order is being rung in, I stick my card in the reader. The process is done before she can reach over and hand me the bag.
I find when I spend cash I spend less.
I keep several hundred dollars in my wallet, a couple of hundred in my car, and several thousand at home.
I can t remember the last time I used a Coke machine. These may be going the way of pay telephones.
Valuethinker
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Re: Physical cash

Post by Valuethinker »

mouses wrote: Thu Mar 01, 2018 3:24 pm
Valuethinker wrote: Wed Feb 28, 2018 10:12 am Here in the UK we are moving to polymer money and so £5, then $10 then £20 notes have all reached their end of use dates.
Not biodegradable? That's a lot of pain for the environment.
They argue the far longer life is a net environmental benefit.

https://www.bankofengland.co.uk/banknot ... -banknotes ; if correctly recycled they can be re used. It's a fair bet that they will be recycled, because it will be banks that take them out of circulation-- individuals and businesses will not simply throw money away (literally).

Some religious representatives objected to use of a cow fat based substance (Hindus & Vegans) however Bank of England say for the moment they are sticking with it.
Valuethinker
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Re: Physical cash

Post by Valuethinker »

Darth Xanadu wrote: Thu Mar 01, 2018 5:36 pm
mouses wrote: Thu Mar 01, 2018 5:23 pm
Darth Xanadu wrote: Thu Mar 01, 2018 4:33 pm
mouses wrote: Thu Mar 01, 2018 3:24 pm
Valuethinker wrote: Wed Feb 28, 2018 10:12 am Here in the UK we are moving to polymer money and so £5, then $10 then £20 notes have all reached their end of use dates.
Not biodegradable? That's a lot of pain for the environment.
Why? Are people filling landfills with GBP bills?
What do you think happens to currency when it's too worn to be used? It doesn't stay in circulation forever.
I don't really know :confused I believe the treasury (in US) takes it out of circulation but not sure how they dispose of it after destroying it. But I'm with you, I hope there are controls and processes in place to minimize environmental impact!
https://www.bankofengland.co.uk/banknot ... -banknotes

they will recycle them into things like plastic pot holders.
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