Quicken tells me that less than 5% of my spending in dollar terms is in cash. I find this hugely convenient because I can download 95% of my spending into Quicken with almost no work on my part. I don’t bother tracking how I spend the cash; it all gets counted against the same bucket.
To me, “cash” means an exchange of electrons and data that doesn’t contain an interest rate, which I try to do for everything.
For physical money, the only thing I use it for is the collection jar for the office coffee club.
This is the key for me. The debit card is too easy; the dwindling wad of paper is much harder to discount when trying to decide “do I really need this?”
For me it’s the opposite. My money is sitting in the bank. It’s a big number I draw from. When I pay for something with my debit card, I consider how wise it is to draw off that pile.
Physical money, however, has already been drawn. It’s ‘spent’ already, since it’s no longer part of my banked money. So I tend to fritter away cash far too easily.
Not to say my way’s better than yours or vice versa. I just find it interesting.
I’m not in the US, but in this part of the world “Paying Cash” for a computer (or any other appliance or item of electronic jiggery-pokery) means “Not using a credit card/finance/rental agreement to pay for it”- thus, actual folding money, EFTPOS, and cheques would be considered “Paying Cash” for a new laptop (or whatever); basically it means you’ve purchased the item outright with some sort of negotiable instrument or electronic funds transfer comprised of your own funds.
I like to have cash available. Loads of small stores and gas stations charge extra for credit or debit transactions but don’t for cash. Why should I pay $1.00 for a soda and then be charged $1.25 on top of that for using my debit card? Some places charge as much as four or five dollars for the “privilege” of using your plastic.
Fortunately most large chains don’t do business this way, but my poor mom (now 87) worries about this incessantly when we’re out and about. She’s afraid to use her ATM card almost anywhere unless I reassure her “We’re at Target, mom. They don’t do that here.”
I can’t light my cigar with a debit card.
I keep about $40 in my wallet for the daily small stuff. And my dope dealer won’t take plastic, so yeah, I use cash.
Everybody’s situation is different. I’m comfortable with cash, credit or check. I prefer to carry up to $1,000 in cash and deal from my pocket as much as possible. Yes, I have purchased vehicles for cash. There are many street situations where cash is the only way to do business. You may not want to give up your credit info for example. There are some places you don’t even want to be carrying anything except cash.
I use mostly cash for the same reason. I found it all too easy to spend $40 on this and $35 on that without keeping track of how much was left in the account. I’m much more frugan with the notes in my wallet.
The only time I use a credit card is for online purchases or something expensive, for which I don’t have enough actual $$ on me (eg my recently purchased new camera).
I recently bought a second-hand car and paid cash. I would have preferred to give the seller a bank cheque but she was an elderly lady and wanted cash.
I think it’s extremely common to use cash when buying a used car from a private seller. A check is too much of a risk. What if it bounces? Then you have to pay a fee, and try to track down the person who bought the car.
There are also a lot of people who can’t get a bank account for some reason. A friend of mine accidentally bounced a lot of checks. She couldn’t pay the fees, so the bank closed her account. Because of this, no other bank would give her an account. So she paid all her bills in cash until she could save up enough to pay the bank fees.
The IRS has a harder time tracking cash, so yes, I use it.
Especially in small amounts, like a drink at the bar.
I almost never use cash. Over the past 6 months, I’ve used cash only at Las Vegas casinos, the concession stand at spring training baseball, and a couple of neighborhood bars.
I use cash whenever possible.
Almost all cash. Mig cashes his checks because he can’t get a bank account. I have a bank account myself but it doesn’t have his name on it so I’d have to go to my bank to deposit his cash. So mostly I just put in the rent and utility money and keep the rest as cash. It’s not like it’s much once the groceries are paid.
Several gas stations around here offer a 4 cent per gallon discount for cash.
i never use cash. i don’t see a reason to. paycheck gets direct deposited and i use my debit card for everything. i’d have to go out of my way to use cash for something, so no. i’ll use it if i have to, but it’s rare around here to not be able to use your debit card for just about everything. i rarely have to go to the bank, cash checks (if i get a non work check, i just deposit it), etc. saves a lot of time and energy. i crave a cashless society.
I use everything. Cash, credit, checks. Except for the 1%-3% “cash back” I get for using my credit card, it’s all the same to me.
I don’t have any rules about when I use cash or credit. I probably should use the CC more often but honestly it is rarely faster than cash. Perhaps the places I frequent just aren’t modern enough.
Routinely. For budgeting.
I have a bunch of debit cards. Never used them. I have never used an ATM either.
Cash or credit cards. Both work, but cash is better for bugeting.
My youngest kids use debit cards though. Not sure why. The oldest switched to cash back in college. He came home one summer and had to work for half the summer to pay off his credit card. He started using cash after that.
Because the ex bounced a couple of checks for child support, I get enough cash at the first of the month to cover daily expenses : groceries, gasoline, and whatnot. Monthly bills go on debit, except for checks for rent and water /sewer/trash. Hubby and I share a checking account, so it’s easier if I use cash for daily operating expenses. Can’t bounce Benjamins.
But I know people - grandmother and uncle in particular - who literally pay cash for everything, up to and including new cars. A little scary when the salesman calls and tells me that granny just walked into the dealership with enough to pay for a new Buick…