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Old 05-25-2019, 07:42 PM
sta3535 is offline
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How much money (paper bills) should you keep in your wallet?


Since I keep the rest of my money in my bank account, the highest amount I would carry would be around $50-60, unless if I'm going to the casino or something.

Now, I usually pay with a card because it's easier & more convenient for me.

Last edited by sta3535; 05-25-2019 at 07:44 PM.
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Old 05-25-2019, 07:59 PM
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Cards are convenient, and either ubiquitously used or quite the opposite depending on what country you are in.

You may want to consider having some extra cash in situations like going out to a restaurant with some friends.
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Old 05-25-2019, 08:44 PM
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I start the week with $100 in cash. I use that for all my little personal purchases: lunch, coffee, a cab, a candy bar, splitting a pizza with friends... It's an easy way to budget.

But getting less easy, as more places have stopped accepting cash.

Last edited by puzzlegal; 05-25-2019 at 08:44 PM.
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Old 05-25-2019, 08:48 PM
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I pay everything I can with my Amazon card. I generate $50+ in points every month.
I only carry cash because I sometimes get paid in cash.
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Old 05-25-2019, 08:51 PM
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We get about $200 from the ATM when we get down to maybe $40-$60 between Mr. Athena and I. We share that cash until we hit that range again then go get another $200. Used to be that we did that at least once a month; nowadays it lasts a LOT longer as more and more places make it more convenient to pay with a card. Even pizza delivery and fast food is easier to pay with a card now instead of cash (that wasn't the case 3-4 years ago in our little town.)

Of course, as I was reminded today - the farmer's market started up this year, and that's the one place where it's still a lot easier (and sometime necessary, depending on the booth) to pay with cash. So I expect to be ATMing it more since it's pretty easy to drop $$ at the market. I like supporting my local farmers/artists/butchers.
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Old 05-25-2019, 09:24 PM
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The Coinage Act of 1965, specifically Section 31 U.S.C. 5103, defines legal tender as "United States coins and currency (including Federal reserve notes and circulating notes of Federal reserve banks and national banks) are legal tender for all debts, public charges, taxes, and dues."

Many, if not most state and local jurisdictions include in business licensure that all forms of legal tender must be accepted as a condition of such licenses. Court decisions have supported refusal of more than 100 pennies, or more that $10.00 in coins.

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Old 05-26-2019, 12:51 AM
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Usually $40 - $50 except if I'm going on a trip, in which case I get more. Not that I spend it very fast. About the biggest cash sink for me is getting a haircut, where it is easier to tip in cash along with the payment.
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Old 05-26-2019, 09:00 AM
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Quote:
Originally Posted by puzzlegal View Post
I start the week with $100 in cash. I use that for all my little personal purchases: lunch, coffee, a cab, a candy bar, splitting a pizza with friends... It's an easy way to budget.

But getting less easy, as more places have stopped accepting cash.
Where are you finding all these places that have stopped accepting cash? It's become common in recent years for fast food stores, convenience stores, etc. to not accept anything bigger than a twenty after a certain time of evening, but that's a long way from not accepting cash.

I shop at national chains, locally owned stores, and regional chains. It is true that financial services companies such as Edward Jones often don't accept cash, but that is the only exception that I personally have ever found.

Apple Go stores used to not take cash, but that's changing.
https://www.cnet.com/news/amazon-gos...o-accept-cash/

And various jurisdictions are requiring business to accept case.
https://www.pymnts.com/news/payment-...n-legislators/
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Old 05-26-2019, 09:07 AM
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At least $20 and preferably $40. Never know when I might find something interesting at a thrift store and I hate to burden the ones that do accept credit cards with the extra fee.

But I don't want to carry more because I might find something interesting at a thrift store and I hate to spend that much money on a shopping whim. I like to keep such buys to small potatoes.
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Old 05-26-2019, 09:17 AM
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I often have business meals with strict rules about who may pay for what. Some places won't split checks. And sometimes we're at someone's office and have to reimburse for food they've ordered in. So I usually have $80-$100 in mixed bills.

It's enough for an emergency taxi ride, although that's less of an issue these days.

But I very rarely use cash otherwise. I don't even have that many in-persom purchases in a typical week, and those all go on the CC
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Old 05-26-2019, 09:25 AM
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I'll generally get $30 from the ATM and it'll get me thru 2-3 weeks of sodas and chips at work. If I'm going to the local Amish markets or a thrift store, I'll get more, since they don't do plastic. That's why I have $51 and change on me right now - I only spent $8.50 at the thrift store yesterday and none of the Amish stands had strawberries. Otherwise, I'd only have $11 on me.
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Old 05-26-2019, 10:56 AM
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Golly, I’m an anomaly. I’m not comfortable unless I have at least $100, $200 is better, and between $3-400 isn’t unusual. I also have another $500 in the house for ‘just in case’. Yes, I have credit cards, but I don’t use them for anything less than, say, $50 purchase.

Back in the day, they didn’t give credit cards to just anybody with a pulse. First you would get a gas card, then after a few months, maybe a store card, then some time later, if you never missed a payment, you could get a Visa or MC. Until then, you lived on cash and checks. I guess I never broke the habit.
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Old 05-26-2019, 12:58 PM
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I havenít carried cash in my wallet in about 7 years. Always use a card. I would miss my cash back rewards.
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Old 05-26-2019, 01:13 PM
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Back in the day, they didnít give credit cards to just anybody with a pulse. First you would get a gas card, then after a few months, maybe a store card, then some time later, if you never missed a payment, you could get a Visa or MC.
What day was this? I'm well over 50 now, and I've had credit cards my entire adult life (never a gas or store card), even when I was an impoverished student.
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Old 05-26-2019, 02:45 PM
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I hardly ever carry cash, if I spend $40 on average in cash in a month, I’d be surprised.
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Old 05-26-2019, 03:05 PM
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I deal with a surprising number of people who don't do credit. The people who clean our house: $120 a week. Footcare: $80 (for two) every 6 weeks. Hair and beard cuts: $30 including tip every couple months. My wife's hair dresser: $60 every 2 months. Snow clearance and lawn care: $85 a month and he often does things like dig the garden for a couple hundred, all cash. Are these people all declaring the income? Not my business. The footcare guy certainly does since he gives a receipt. So I go to the bank every few weeks and draw out $500 that I manage to spend. Of course, that $120 a week draws it down quick. Right now I have at least $400 in my pocket.
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Old 05-26-2019, 04:42 PM
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Mike Royko always said you need to carry enough cash so that if you get mugged, the mugger won't be pissed off.
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Old 05-26-2019, 05:58 PM
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You should keep as much as you need. I don’t need any so I don’t carry any.
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Old 05-26-2019, 06:45 PM
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I'd use credit cards more if they didn't keep getting hacked for fraudulent purchases. I may not get stuck with the charges, but it is still decidedly worrisome and inconvenient when it happens.
  #20  
Old 05-26-2019, 07:30 PM
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Quote:
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Where are you finding all these places that have stopped accepting cash? It's become common in recent years for fast food stores, convenience stores, etc. to not accept anything bigger than a twenty after a certain time of evening, but that's a long way from not accepting cash.
I've encountered a restaurant or two in San Francisco that were completely cashless. HRD Burrito for one. Such places are exactly why the city has proposed a law requiring businesses to take cash. That appears to be the motivation behind the legislation you linked to as well.

And while it's not something you'd encounter regularly unless you're a real road warrior, most airlines no longer accept cash for purchases made on board.

I personally keep around $40-$60 in my wallet. I use cards for nearly everything I buy in regular stores (for that matter, even the vending machines at work accept cards), but I spend cash when I go to the farmer's market and at food truck day at the office park. Even many of those vendors are accepting cards now via those readers that attach to smartphones/tablets, but I try to pay cash just to save them the credit card fee.
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Old 05-26-2019, 07:32 PM
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I used to keep a $50 or $100 bill in my wallet for emergencies. Otherwise I keep all my cash in my pocket. That will rarely be more than $100, usually no more than $50.
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Old 05-26-2019, 07:57 PM
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No less than $200, usually $500.
Saved my ass in several occasions I won't go into...
  #23  
Old 05-26-2019, 08:15 PM
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Quote:
Originally Posted by Dobbs View Post

Back in the day, they didn’t give credit cards to just anybody with a pulse. First you would get a gas card, then after a few months, maybe a store card, then some time later, if you never missed a payment, you could get a Visa or MC. Until then, you lived on cash and checks. I guess I never broke the habit.
I think you're confusing credit cards with debit (or check) cards. You don't need to have good credit to have a debit card. All you need is a bank checking account.


I try to keep around 20 or so in my wallet. It's used exclusively for tipping waitresses and delivery folks.

Last edited by Grrr!; 05-26-2019 at 08:16 PM.
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Old 05-26-2019, 09:41 PM
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I prefer to keep $40-80 in bills in my wallet but I also hide a $100 bill in there too. I use that for emergencies like if I'm somewhere that doesn't take cards (like if I need a tow truck).
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Old 05-26-2019, 09:42 PM
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No less than $200, usually $500.
Saved my ass in several occasions I won't go into...
Drug dealers still won't take free square payment.
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  #26  
Old 05-26-2019, 11:04 PM
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Walkin' around money. 40-80 bucks. Oddly, I have 200 on me now (I bought some stuff for my Mom, and she had me cash a check) I do pay for nearly everything with CC. It's easier now. And I don't have to deal with change.

Pay off the CC every month and I think, I'm getting a bit of a deal in points. Two round trip tickets for my Wife and I to TX From CO with extended seats, checked and overhead bags for both for $270 total. (I still think I'm getting the shaft somehow. Nothing is free [well, I'm getting screwed because it's Frontier Airlines, but I can manage a short hop with them])
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Old 05-26-2019, 11:25 PM
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I generally take 60 bucks out at the ATM around once a week, and replenish when I get down to $20 or so, or if I (rarely) plan to make a cash transaction that is over my self-imposed weekly limit. I never use my debit card for anything but ATM withdrawals.
  #28  
Old 05-27-2019, 12:38 AM
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I keep $200 in my wallet as emergency money, and normally take out $40 every couple of weeks for small purchases (coffee and such). For everything else I use my debit card - it's faster, more convenient, and easier to keep track of. My credit card is for online payments and occasional travel costs such as hotel rooms.
  #29  
Old 05-27-2019, 07:06 AM
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I keep about $20 cash in my wallet. Work lunch is automatically deducted from my paycheck. I use my debit card or checks for all other purchases.
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Old 05-27-2019, 10:26 AM
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I'm another who withdraws $200-$300 in cash and spends it down to about $50 before making another ATM run. I hate using a credit card for small purchases, and I really hate that the bank gets a 3% cut on every purchase. Also, our credit cards have been compromised many times, so the less we use them, the happier we are.
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Old 05-27-2019, 10:30 AM
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Drug dealers still won't take free square payment.
LOL - nope.
  #32  
Old 05-27-2019, 10:56 AM
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I havenít carried cash in my wallet in about 7 years. Always use a card. I would miss my cash back rewards.
So that begs the question, Where do you keep the "cash back" ?
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Old 05-27-2019, 11:02 AM
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In my wallet is maybe $3,200,000,000,000 --- in Zimbabwe dollars. My US cash (maybe $10 or so on average weekdays) is folded next to my wallet.
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