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Old 05-23-2008, 01:44 PM   #21
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It's lovely how one is punished one way or another for trying to own a business and succeed isn't it?
I've noticed when I hand (mostly younger) cashiers cash they look sort of bewildered for a moment, like they're not quite sure what to do with it.
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Old 05-23-2008, 01:46 PM   #22
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Pretty much never have cash. Direct deposit and debit cards.
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Old 05-23-2008, 02:04 PM   #23
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I am debt free like you FM (with the exception of mortgage and car loan and utilities) We have a home equity line, but we keep that paid off. We use our credit card for every single purchase we can as we get a return on doing that. Not using our credit card would be like throwing money in the trash.

What we do though is keep track of every penny we spend. We get a receipt for every purchase, no matter how small. At the end of the day I take all the receipts and total up the money. That amount is then moved from our individual checking accounts into our joint account. Our joint checking account is used solely for paying bills. When the money is moved over it is rounded up so if we make a purchase for $29.02 then we will move $30 over. Those extra cents add up over time and also build in a little buffer in case we ever mess up a little. Every two weeks I will pay our credit card bill online by paying the entire balance at that time right away. I know the money is there because it has already been moved to our joint checking account.

The great thing about doing it this way (for us) is that not only do we get perks from our credit card (GPS, two iPods, rice cooker, thermopen, and many other cool things), but by tracking the money each day we can see what we are spending on and what our spending habits are. If we starts to spend too much then we notice it right away and can take corrective action.
Good for you, GB! I wish I had learned all this earlier in my life because having no debt makes life so much less stressful. I finally have achieved no mortgage or car loans so life is good.
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Old 05-23-2008, 02:26 PM   #24
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Good for you, GB! I wish I had learned all this earlier in my life because having no debt makes life so much less stressful. I finally have achieved no mortgage or car loans so life is good.
I learned the hard way FM. by the time I got out of college my credit score was so bad i would have had trouble getting a load to buy a pack of gum. It took me a long time and a lot of hard work, but I cleaned it up and now my credit as about as good as you can get it. It was a hard lesson to learn, but i learned it and now I will never be in that position again thankfully.
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Old 05-23-2008, 03:03 PM   #25
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I only use cash every two weeks when I do my shopping. I have a set amount. When it's gone, I'm done. Otherwise, never carry cash. Use a debit card for purchases. No credit cards. Haven't had any in years and years.

Most of our bills are either paid online or in person (utilities here in town). A few get mailed.

Just for fun the other day Buck got $5 back from a debit card purchase so he'd have some money in his wallet. Four $1s and four quarters. Whoopee!!

Like a few others here, haven't been inside a bank in a very long time.
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Old 05-23-2008, 03:24 PM   #26
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i use a debit card, no credit cards and don't want any, thank u very much.

i pay all bills from groceries to newspaper del. on line with debit card. can't even remember last time i went to the bank.

sometimes it is a bummer not to have cash. if i ask someone to pick up some milk for me, can't pay em for it til i get some cash. i haven't written a check except for handyman in over a year. love it.

babe
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Old 05-23-2008, 05:13 PM   #27
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We use our debit card for most things and checks for some. We do usually carry cash for some things. I have noticed that we (James and me, not people in general) tend to feel like cash is "free money" and so we often blow it on things we may not need. For that reason, we try not to carry too much, but if we can afford it, we like to each have at least $20 in cash on us.

Barbara
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Old 05-23-2008, 06:11 PM   #28
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Cash is free money??

To me cash cards and credit cards, and to an extent, checks, are 'free' or 'not real' money. All these forms of 'currency' are just numbers in a ledger. An abstract with a tie to something sort of real off there someplace in the distance.

Folding money is real, spends everywhere, does not rely on a computer link or being able to access a data base somewhere, does not depend on electricity, and I have yet to have someone say no to or turn their nose up at CASH.

When I get too much cash I take it to that quasi abstract place and trade some real stuff for a number in a ledger. Easier than putting it in the safe.

Garage sale season kicks off this weekend. Plastic doesn't work. Checks? Uhhh, Green, green works now, don't have to wait for it to clear.

Grocery store, gas station, making a purchase I want a record of (like the Nikon), sure, I'll use plastic.

Hmmm, Cash ....
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Old 05-23-2008, 07:17 PM   #29
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Well, my answer is bound to be different from everyone elses'. We hit the ATM at least once a week because Mexico is an almost completely cash economy. We pay our phone bill and electric bill in person, in cash (no checks), but they do have an automated machine in the lobby of each that accepts cash only. Very few restaurants accept credit cards - just the most expensive ones catering to tourists. When we have workers here (which is often, since we are building a second story on our house), they are paid in cash only, on Saturdays. Grocery store? Cash only. We pay our credit card and Vonage phone and a few other things online. Our Social Security and pension checks are direct deposited to our US bank account. I haven't written a check in more than two years.
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Old 05-23-2008, 08:33 PM   #30
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I use my credit card which is paid off every month for just about everything so I can get my reward points. I carry anywhere from $ 20.00 to a couple hundred or more depending on what I'm doing. I pay cash for tiny purchases. I love my reward points I have so far a shop vac, a cannon camera and printer, a foot spa, 8# crab legs, an aero garden, a street pilot and others I can not remember. Costs me nothing and free shipping to boot. When I travel I do carry a lot of cash in 1s, 5s and 10s for tips, taxi and so forth if I can't afford a trip without a good bit of mad money I just don't go I rather be able to have enough to have a good time rather then scrimp. I have never ever used an ATM because there is an extra fee. I rather go to bank which is mabe once a year for cash plus there is no fee. I also like to keep at least $15-$20 in $1.00 dollar bills and a lot of change in my truck. I have never worried about carrying large amounts of cash either because I don't look like I have a lot of money on me whether I do or I don't. I pay for magazine subscriptions phone bill with checks oh and of course the credit card bill. We have our satellite bill and satellite tv paid straight from the bank. Anything I can pay online with PayPal is a good way to go.
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