Using Cash vs Credit Cards

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Money card
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Using Cash vs Credit Cards

Postby Money card » Sat Oct 29, 2011 10:22 am

In addition to using credit cards, do you people ever use cash? So if you are a the mall, book store, movies, if you go to Duncan Sonuts, Starbucks, any place, do you people ever pay with cash, real money? If you're at the mall and you get something at Burger King that cost $7.10 do you pay cash or credit?


sticf
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Postby sticf » Sat Oct 29, 2011 8:29 pm

I use cash every day at work. I shop downstairs where I buy breakfast has a $5.00 minimum for credit card transactions. My breakfast cost $1.75. There is nothing else I want in the morning so I use cash. I also use cash at the my "local" liquor store. It offers a 5% discount for cash. That is better than any credit card I use at the store so "cash is king".

I always like to find the best "discount". Either cash back if no incentive for cash is given or cash if the discount is better.

ivotedale
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Postby ivotedale » Mon Oct 31, 2011 2:39 pm

I never use cash these days, only to pay my roommate rent.

If there's a store that doesn't take a card, I don't shop there. I almost like to think of it being a disservice to myself if I don't pay with a card since I get a % back.

Though I did find it comical, one day I just needed to purchase (1) stamp at the US Post office. I paid via American Express, since I don't carry change or bills, haha.
Currently: American Express Blue Sky, American Express Zync, Chase Freedom Visa, Capital One Newcomers--->converted to Capital One Quicksilver Mastercard NO AF

Money card
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Postby Money card » Tue Nov 01, 2011 5:11 pm

sticf wrote:I use cash every day at work. I shop downstairs where I buy breakfast has a $5.00 minimum for credit card transactions. My breakfast cost $1.75. There is nothing else I want in the morning so I use cash. I also use cash at the my "local" liquor store. It offers a 5% discount for cash. That is better than any credit card I use at the store so "cash is king".

I always like to find the best "discount". Either cash back if no incentive for cash is given or cash if the discount is better.


I agree Sticf cash is king.

when i go to shoprite, a supermarket, the movies, barnes and nobles, if I buy a soda and a cookie I pay cash. the movies in my area are $11.00, barnes and nobles was $3.67 I like to pay cash. last Friday my friend and accountant invited me to the mall he likes, he dropped his kids off at New York athletic sports club. just us 2 ate in the food court, I had a burger king it must have cost about $9.00 so I just paid cash.

How does it feel not traveling that much anymore?

sticf
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Postby sticf » Tue Nov 01, 2011 8:01 pm

Money card wrote:How does it feel not traveling that much anymore?


If that was directed at me...
Not traveling for work is fine with me. I like that the new job keeps me home, because it gives me more time to pursue other things that I have kept on hold.

Ramzo
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Postby Ramzo » Fri Nov 04, 2011 10:53 am

I am 19 and still experimenting different ways to manage my money. I have layed out different strategies (scenarios kinda) and I swtich them around every few months to see what actually works best.

To keep track of everything, I use Mint.com (all the time). I absolutely LOVE it and believe you should all give it a shot. Seriously.

My strategy number 1 is to create the simplest budget possible:
1. Calculate fixed expenses (monthly bills that are always the same amount like phone, bus pass, savings) - those payments are all electronic and automated. Of course I review every statement to make sure there are no mistakes;
2. Calculate income (roughly, if not sure always use a smaller amount rather than bigger)
3. Calculate the difference of 1 and 2 and withdraw this amount every month for guilt-free cash spending

Strategy number 2 is to pay everything with my credit/debit cards and track every single expense with Mint.com. However, the problem I found with this is that my greediness (haha) doesn't allow me discretionary spending. Guilt-free expenses do not exist for me with this system.

Anyhow, I'm still developing different strategies. Share yours if you do the same thing!

nwcdrfinancial
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Postby nwcdrfinancial » Thu Dec 15, 2011 12:30 pm

You should carry a small amount of cash, maybe like $20 just in case you need it or make small purchases but also in case you get robbed or lose your wallet. You cant recover lot of cash but you can immediate cancel credit/debit cards if you lost them.

requiredfield
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Postby requiredfield » Tue Dec 27, 2011 9:57 pm

I will spend cash, rarely and usually only on the occasional lottery ticket, states don't seem to want to eat the fees. They say they don't want to encourage gambling, I say it's the fees. I also carry one blank check. If cash gets me the best price, then cash will be spent.

$7.10 at Burger King, this quarter my Chase Freedom card comes out and I earn 5%. Next quarter it would be Citi Forward for 3.125%. You get the idea. Besides, real money is increasingly ugly these days.

BTW minimums on credit card purchases are a violation of their merchant agreement.

Squid7085
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Postby Squid7085 » Tue Jan 03, 2012 6:20 pm

I always try to carry $10-20 with me at all times, because sometimes cash is the only option, Hot Dog at a local High School game? However, aside from that, I use my American Express for everything, however, I do have a Visa branded Debit Card from my Bank Account for those places that don't take Amex. Generally though, if a place doesn't take Amex or charges more for Plastic purchases, I will not return to that place. No hard feelings, but I live in a large city and there is always a competitor that will. I find I manage money BETTER when I don't use cash, I always think before swiping, not so much with cash. On top of all that, I use mint.com, and every plastic purchase can be tracked, not so good about adding cash purchases.

2percentPlus
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Postby 2percentPlus » Sat Jan 07, 2012 4:59 am

I only carry about $20-100 cash in my left rear pocket, separate from my slim card wallet in the right rear pocket. It doesn't usually come out for anything, and I also keep about $50-100 in assorted bills in the car.

I NEVER use a debit card, keep one in the car for rare ATM deposits or for some sort of crazy emergency.

The only time I can think that I use cash is for haircuts, lottery tickets and random times eating out where the server would take the card out of sight, I didn't trust them or the restaurant, the service/tip was bad, or I wanted to get out of there quickly.



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