David1961
Thinks s/he gets paid by the post
- Joined
- Jul 26, 2007
- Messages
- 1,085
Curious, what do you mean by hidden money? I carry a couple of C-notes in a hidden fold in my wallet. The bills have been sitting there for around 5 years unspent. I've actually had the bills for 10 years but then I changed wallets.
Grew up in a cash economy so I don't feel comfortable without at least $200 on my person just in case of emergency. However, if the merchant accepts them, I always use credit cards for cashback and convenience. Typically, the only places I frequent in the US that don't accept CC or adds a surcharge are Chinese restaurants (Chinatown) but they're pretty cheap anyway. When traveling overseas, I carry $500 minimum although always less than $10,000. Concerned about debit card info getting stolen while traveling so I tend to use the ATM only as a last resort.
To me, hidden money is money we have around the house just to use in the case of an emergency. I do not include this as "spending" money. In about 30 years, I have not had to tap into this, though.
My parents did this, and I just started doing it too. Note that they each grew up during the Depression.