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Thread: Do any of you just use all cash?
05-04-2012, 10:50 AM #1
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Do any of you just use all cash?
I have a problem with my DH freaking out with me carrying cash. Also even though DR says he gets by with just his debit we have friends 2 couples that were travelling to Florida on an airline that just folded. The one who charged got their money back but it took a while. The one that used their debit were out of luck.
We do travel once a year and I use a CC. DH will not allow me to use my debit.
How are things working out for you?
I watch every cent and do not have any CC debt except for a generator on a 12 month plan with no interest! That would be paid off except I have a lot of medical bills. My co pays after insurance.
- 05-04-2012, 10:58 AM #2
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Smart DH. Credit cards have more protection than debit cards do.
We use our CC every chance we get because we get cash back from it. We're not going to give up free money. Well, almost free, because the card does have a small annual fee, but we get back way more than it costs us. The CC is paid in full every month, so we don't pay interest.
We do carry large sums of well-hidden cash when we travel. We seem to accumulate cash here and there throughout the year, and any cash we get, we put towards gas money for travel and use it then. We don't carry it all in one place and don't flash our wallets around. Cash in our wallets at any given time is usually small amounts, just enough to fill the gas tank so around $100 at a time.
In our daily lives, we do not carry much cash. If we lose our CC, we can replace it and contest any fraudulent charges. With cash, it's just gone.~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
“Anything you cannot relinquish when it has outlived its usefulness possesses you.” -Mildred Lisette Norman
05-04-2012, 11:00 AM #3
If you are out of debt and can use your card responsibly, I don't see an issue with using it to make purchases you want that extra protection on, provided you can pay it off right away. one good rule of thumb I use- it doesn't go my cc unless I have $ sitting in the bank to cover it, no 'I'll put it on my cc right now, I can pay it off when I get paid next week'. Nope, cash has to be sitting there at time of purchase.
We plan to take a major vacation in the next year or two and we'll be putting it on the cc- but not unitl we have the $, in full, to pay for it. I would also do this for major purchases like appliances or such, for the extra consumer protection.
Dave is great, but you don't have to do everything 'his' way.
Kill the mortgage! Goal: 12/2023 Left to go: $140,160.33 Extra paid: 2012- $4408.03 2013-$5396.21+ $400 extra towards escrow
05-04-2012, 11:14 AM #4
I typically use my debit card instead of cash. I just HATE having small change; it really annoys me. But I would never use anything other than a credit card for travel related expenses. I usually use my credit card for large purchases as well. I pay off the balance instantly if I use the CC, but want the extra layer of protection... especially when travelling.
05-04-2012, 11:54 AM #5
I don't carry cash, partly b/c I don't like to have that much cash on me at a time. I do use my debit card all the time. I know myself better than to think I'd actually pay off a CC every month when the bill comes! lol
05-04-2012, 12:19 PM #6
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We used to use cash, and it became a big hassle. Going to the bank, trying to break 20's to have the right amount in a certain category. Carrying around large amounts of toonies and loonies ($2 and $1 coins in Canada) for stuff like food. Very annoying to have a wallet full of 30 coins because that was the change from our cash budget. We are debit users now. I track everything daily, nothing is spent unless its on our written budget. With dh on board, it has been much easier than cash. We also have "bank the rest" set up through our bank, every debit purchase is rounded up, the extra change is placed automatically in our savings account. Now I don't have a jar full of pennies.
Trips are done with a cc, after it is saved for in the savings account.
05-04-2012, 04:42 PM #7
we did only cash for many many yrs....worked great! i just used to keep a change cup in my car for the coins and when it got full i would go to coinstar...
we do use debit also. we have not had CC's in about eight yrs now....we just both got 2 seperate cc's to help riase our scores. although i must say, i have a really hard time using it after being only cash for so long
05-04-2012, 04:45 PM #8
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I use all cash around my local area....seldom charge anything......other than gas, and charge gas just because it is faster than pre-pay and less hassle with lines.
I would not use cash for travel, buying an appliance or other large item- furniture, etc......just because of what you said. Easier to get your money back with cc............I don't use a debit at all....don't have one.
05-05-2012, 11:55 AM #9
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We do cash only. I pay rent, electricity, phone/internet, water, groceries, doctors, etc in cash. Yesterday we spent over €1500 to convert our car to LPG and I paid in cash. I have no problems with it. It works for me.
I'm not sure why someone would freak out about carrying cash. Of course, if you lose it, it's gone.
05-06-2012, 10:28 AM #10
I always use cash. Dave talks a lot in his books about the benefits of doing this. The main one is that you may spend less. He tells how McDonalds average order jumped from $7 to $12 when they started accepting credit cards. I know I am more conscious of price when I have to count out the money vs swipe the card.
If I chose to use my debit card (for online purchases or safety at the gas station) I just move the cash to a "to be deposited" envelope.
It's not a bad idea to use a cc just for security on travel purchases but I'd limit it to situations like that.
Also I figure if I loose my full wallet of cash twice a year, I'm still losing less than I was on interest when I got into credit card trouble
05-06-2012, 01:56 PM #11
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IN every day life i usually use cash (about 75% of the time). When i empty my pockets at the end of the day i put my change in a coffee can and most of my $1's in a little stash box. When i get airline tickets and what not i always use my credit card. I get cash back on my discover card, so i use it when i can. I just hate to use it too much !....lol
05-06-2012, 03:08 PM #12
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I use cash only for my day to day spending, such as buying food or trips to Target to get cleaning supplies and things.
I use my CC for gas purchases. I have twin 3 year olds and it is a pain in the butt to get them out of their carseats, walk in to pay cash, bring them back outside, put them back in the car, pump the gas and if we go under the amount I paid, I have to drag them back into the store again to get my extra money refunded, then back out to the car and put them back in their carseats. Just too much stress. I don't use my debit card for gas because we have had major CC theft off prepay gas pumps in my area. They are putting "skimmers" on the machines and then clearing out bank accounts. If they get my CC number they can only charge so much and it will all be refunded by the CC company. If they clean out my checking account it could take a week to get that money back and in the mean time I am bouncing checks all over town.
I use my CC for buying airline tickets and hotel stays if we are traveling, doesn't happen all that often. Other than that I don't use my CC because I am trying to get the balance paid off.
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