Paying cash these days.....

[Bob Wright]

So my bookkeeping is antiquated, you ought to follow my cash purchases....

I allow myself $125/week for grocery money and $130/week for miscelaneous purchases. I record these in a notebook, rounding up to the nearest dollar. Each day I deposit all coins in my "piggy bank" (not really a piggy, but jars of various sorts.). Not too long back I rolled up all my loosed change accumulated over the past months. The total deposit came to $170.00! This goes back into my cash money fund.

Somenoe commented my systen was antiquated. So am I. I am so antiquated that I still shoot Single Action revolvers!

Bob Wright

 

[hittman]

If it works for you, nothing else matters

 

[DGW1949]

My system is similar....I keep enough in the bank to cover the checks that I will need to write to pay my bills. All the rest, I take out in cash. The cash goes in a money clip so's I can buy gas, groceries and have some "walking around money". Some months, I have cash left over. When that happens, it goes into an old zip-up bank bag that is stored in my gun safe untill it's needed....And to Bob's point, whatever change I accumulate during the process eventually gets rolled-up and converted back into cash also....I been doing it that way for almost 60 years. No muss, no fuss, and no cards to get hacked...And as a little added bonus, here lately I seem to be getting more 'n more cash discounts.

DGW

 

[Bob Wright]

Good point: most establishments are now charging a fee for using credit cards. This does mount up over time.

Bob Wright

 

[gnappi]

Especially the gas stations and I don't buy there.

 

[eveled]

Bob do you have one of those clickers to keep a tally as you add items to your cart.

 

[powder smoke]

Good point: most establishments are now charging a fee for using credit cards. This does mount up over time.

Bob Wright

A fee for credit cards! WoW No way I would pay a fee I'd walk away first! screw that crap!

 

[epags]

Good point: most establishments are now charging a fee for using credit cards. This does mount up over time.

Bob Wright

Actually all companies build in to the cost the ~3% credit card processing fee......unfortunately only a few discount the fee from the selling price if you pay cash. I support them when I can.

 

[Bob Wright]

Actually all companies build in to the cost the ~3% credit card processing fee......unfortunately only a few discount the fee from the selling price if you pay cash. I support them when I can.

Credit card fees should be a part of the cost of doing business, therefore ought to be included in the price of the service, such as the telephone bill, utility bills, rent, advertising, etc. So adding a credit card fee is superfluous.

Bob Wright

 

[Dan in MI]

Credit card fees are due to rewards cards. You think that "bonus" you get is out if the goodness of their heart?

Regarding change. When we were first married my wife was a waitress. Quarters were immediately rolled and added to the budget. Dimes, nickels, and pennies we relegated to jars. I can tell you with certainty that a fifth bottle of dimes is $130 and a fifth of nickels is $85. We cashed them in enough to get a solid average. I still have jars of pennies.

Currently I only save quarters. When they hit $50 I cash them in. (above 50 incurs a fee) then the Grant get added to the gun fund.

 

[DGW1949]

Credit card fees are due to rewards cards. You think that "bonus" you get is out if the goodness of their heart?

Regarding change. When we were first married my wife was a waitress. Quarters were immediately rolled and added to the budget. Dimes, nickels, and pennies we relegated to jars. I can tell you with certainty that a fifth bottle of dimes is $130 and a fifth of nickels is $85. We cashed them in enough to get a solid average. I still have jars of pennies.

Currently I only save quarters. When they hit $50 I cash them in. (above 50 incurs a fee) then the Grant get added to the gun fund.

From the FWIW Dept:
I cash mine in with the manager of my local Auto Zone...I get cash without being deducted a fee and he gets to skip buying change at his bank for a while...win-win.

DGW

 

[gunzo]

Cash can come with certain inconveniences these days, but when the chips are down, the card reader not working etc. There is no substitute.

Otherwise. Thinking the most I ever paid in cash was about $10,400 for a boat. The asking price was 12. The green backs spoke loudly, right then, right there. Have seen that happen a lot.

 

[contender]

Bob,, I'm right there with you on using cash as much as I can.

I use my CC for specific things,, but I use cash for most of my daily & weekly expenses. My change gets put into a small change sorter on my desk. Once a denomination is at the top, I put any other change like it in a small jug. Once all 4 spots get full, I roll the coins, & start over. Once my jug gets full,,, I sit down & roll it up as well. I stack up my rolls until I get a few hundred dollars,, then it goes to my bank,, cashed in,, and then those greenbacks get put aside as extra gun funds.
Otherwise,, I pay cash in most of my dealings. Occasionally, I'll get a discount for using cash. And occasionally, I'll get a clerk that can't make change. But I've had enough deals happen because I had CASH in hand to where the seller sees this,, and is a bit more negotiable on the item I'm wanting to buy.

Besides,, using cash pizzes off those who want to make this a cash-less society.

 

[2Late45]

I just love you guys and Bob's post helps to make me feel a lot more normal...

 

[Bob Wright]

Bob do you have one of those clickers to keep a tally as you add items to your cart.

No, Sir, I don't. I'm sure I have enough money to pay at the checkout. Then do the calculatin' when I get home and after putting groceriies away.

Bob Wright

 

[eveled]

When I was a kid I remember the housewives on a budget had one. I had to google it. Fairgrove helper.

Pretty sure none of them came even close to $99.99

 

[GypsmJim]

If I pay cash the charge is what it is. If they take my credit card, I get a 2% cash back every month. Over the course of a year, using my CC for every purchase, my cash backs usually amount to about $2,000.00. That ain't chump change.

I pay my bill 100% every month, so I have NEVER paid a dime in interest.

If I see a store that won't take a credit card, I don't shop there. If I go to a store that charges a 2% premium for a credit card, I shop there only once, because then I only break even. If the charge is over 2% I shop elsewhere.

So far I have had no problem finding alternate stores that meet my requirements. If the time comes that my CC will end up costing ME money, then I'll change my method. Nevertheless, I will simply hate to have to spend my own time driving to the bank to get paper money.

Personal finances are all about responsibility. If you use the CC for necessary expenses, good for you. If you get carried away and spend money you really don't have, then shame on you.

All that said, there are 2 fantastic restaurants that we frequent near our mountain cabin. We simply have to eat their, the food is that good. Neither will take CC or check. But they DO have an ATM. In that case I surrender.

 

[Fox Mike]

Bob I guess I too am living in the past but I use written checks, cash, and the USPS and know where the $$ goes and why.

 

[Jeepnik]

I can sort of understand why retailers charge a fee to use cards. They are charged by the bank. But what I can't abide is governmental organizations that want you to use cards but force you to use a third party that charges a fee based on the percentage.

I had no problem paying a tax software company to file my taxes. I didn't have to use them and they are a private business. But when things like DMV and property taxes started with the percentage based fee it became obvious the third parties were kicking back some of their "fee" to the government, if not some governmental officials.

The government wants you to use cards because it is cheaper and easier for them. Being me, I just sent them a paper check. It's going to cost them to process the payment, not me.

Then again, I think there should be a law forcing places that use self check outs to reimburse the customer for their time and effort.

 

[Kevin]

Contender mentioned "cashless society"

I do see more and more places that have signs in the window: "No Cash Accepted." My only guess is employee theft prevention? It also saves time not having to count cash at the end of the night.

I've also read that in Sweden, Finland and Norway, those countries are almost cashless. I've never been there so can't say.

But from what I read cashless societies aren't a good thing. But that's just because if the electricity goes out. Or if the computer system gets hacked. Which is more of a threat these days than the electricity failing.

There are just so many people in the US, I can't see America becoming cashless.

Another thought:
My daughter is telling me her friends in high school already have credit cards. But being under 18, the cards must be tied to their parents' accounts.

If out daughter goes out, we do give her money. Cash on her phone. It's not a credit card, and not a pre paid debit card. I'm not sure how it works. But it's treated like cash. Interesting times. My wife does it. I'm not sure if my wife can see her transactions or not. I'll have to ask.