I noticed on the “how much change do you have” thread that several people mentioned that they never have cash. I have also met people IRL that never or almost never have cash. Every once in a while they will need cash for some reason and they want someone to drive them to the nearest ATM to get JUST enough to pay for that occasion (for some reason they also tend to not have cars).
What is the reasoning behind this? Have you never walked into a mom and pop restaurant that didn’t take credit cards? Those are some of the best establishments I know. My Laundromat won’t accept CCs for bills under 10 dollars. Cash is easy to hand over for a collective food bill with friends. I’ve had occasions where the planets were misaligned and the CC machine wouldn’t read my card.
How does it hurt you to not carry cash? Are 2 twenties, a 5 and three 1s so thick that they make your wallet uncomfortable?
Cash can smooth out a few rare and uncomfortable situations in life, and have practially no requirements or downsides.
Unless I want to write a note to myself every time I pay cash for something, I never know where my cash went. When I use a CC, I have a record of where I spent what which helps for budgeting.
I usually try to have a twenty or so in my wallet but whenever I need it, it has magically vanished. CC is always there.
(Note: I always pay my CC bill at the end of the month so I also get about 1% cash back.)
I rarely, rarely carry cash simply because I rarely use it.
I use a checking/debit visa card that works everywhere. Gas station pay at the pump, every single restaurant in town, every grocery store, every store in a mall, every big box store, every parking garage, movie theatres, etc. etc.
I have direct deposit so the money basically goes right into my account and is ready to use on the card. I have no need to go to the bank or use an ATM.
I can probably count on one hand the few times I used cash this year:
-Downtown farmer’s market
-State Fair
-Ice Cream truck
-Baseball game
I don’t carry cash because I am way less inclined to spend things if I don’t. You know that mom and pop store? Well, if I dont have cash, I guess I didn’t need what they were selling anyway. And if I really do, I’ll come back.
If I know I will need cash I’ll bring it, but mostly, it makes me think twice about my purchases.
Personally I always have cash. I take out a certain amount and that’s what I have to spend for the week. Eliminates the risk of overdrafting and keeps me in budget.
Interac. Very little reason to carry cash with a system that good. Very few stores don’t take Interac.
I actually have about $12 in cash on me at the moment, though, but that’s because my husband got cash and gave me a $20 the other day and I used it to buy lunch one day since I happened to have it. Otherwise it would have been paid for by Interac anyways.
Are you saying that everyone who doesn’t own a car doesn’t carry cash? Or everyone that doesn’t carry cash doesn’t own a car? Those types of broad statements are rarely necessary.
FWIW, I own two cars and a motorcycle. I rarely carry cash.
It doesn’t hurt me at all to not carry cash. But, I’m going to go ahead and assume you didn’t mean to put that “not” in there.
To which I would answer - how does it hurt you to carry a dried leaf around in your pocket? Does it really weigh that much? Is it really such a burden? Then, why don’t you carry one at all times?
Well, apparently I live in a very different universe from many people here. I need find myself in an occasion at least once every two weeks or so where a CC won’t work.
The problem that sparked the original post is that others I know apparently also find themselves in circumstances where a CC won’t do. Usually other people around them are inconvenienced because “Oh, I don’t carry cash, can I borrow some from you?” or “Can we go down the street first to the ATM? I don’t carry cash.”
It seems like the other answer people give is because they lose it? Well, why don’t you lose you CC?
Pretty much, 1 and 2 in particular for me. Sometimes when I’m swiping my debit at a place that offers cash back, I’ll grab a 20 or something, just to have cash in case I ever need it, but I almost never do. Cash is just less convenient.
The only time I carry cash is if I expect to be at a place that has a tip jar rather than a tip line on the credit card receipt, or if I know I’m going to be somewhere that takes cash only. Other than that, why on earth would I spend time making change at the register when I can swipe my card for the exact amount in half the time or less?
I use a card that pays 1% cash back on every single thing I buy. Why would I pay cash instead? I carry about $20 most of the time but like some of the others I hardly ever need it. Even the parking meters in LA now take credit cards. And if the OP’s friends are constantly wanting to borrow cash from him I think he needs new friends!
I’m young enough for Interac to have been around for as long as I can remember. When I found out that the concept of debit cards is a bit different in the US I thought it was very weird.
The Interac system is so widespread here that most Mom and Pop stores offer it and just tack on a small fee for using it to cover their expenses. And if there isn’t, an ATM is definitely nearby! All ATMs in Canada are linked - some banks charge you a fee for using a machine that isn’t theirs though.
Restaurants are used to splitting the bill for debit users. I’m pretty sure most have more debit machines than cash drawers!
I’ll caveat this by saying that I’m current in a cash-centric part of the world, and it’s irritating as hell.
But normally, in the real world, I’ll not have cash on me. The only time it’s awkward is when someone at work is collecting for something or another, and if it’s worthy I’ll get some cash to bring in the next day.
I’ve never been in a situation where a credit card wouldn’t be honored, but then again, they now have this stupid law where merchants can refuse transactions under $10, apparently, so I’ll see how things go when I get back home next month.
I carry 30,000 Won (about 30 bucks) and $20 in my wallet for those times when I go out into town, but mostly everything gets paid for with plastic (debit card or a credit card) when I’m on base because it’s faster and more convenient (no fumbling around with change, for one thing). The big catch is if I need a taxi, they don’t take credit cards around here.
And I’d also like to politely call the OP out on some selection bias they are exhibiting: I’d guess that not all people who don’t carry cash also don’t have cars, maybe not even most of them. It’s just that nearly none of the people who don’t carry cash who HAVE cars are likely to ask you for a ride to the ATM.
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