Do You Keep Cash on Hand? How Much?

[Meadbh]

I never have more than $250 in cash.........although I did have a coin jar, which yielded over $80 when I finally got it sorted and taken to the bank. My practice is to use credit cards whenever possible. Not only does it defer payment for up to 6 weeks after the purchase, but it also provides accounting, which is helpful when calculating and analyzing expenses. I keep all cash receipts and write my own when none is offered (eg at a roadside vegetable stand). I withdraw $200 from the ATM when cash is running low, and that usually suffices for 6-8 weeks. I do keep some change in my car, usually less than $10. I am not concerned about an apocalyptic event that would incapacitate my bank, because I split my business between two large stable banks with branches all over the country.

[38Chevy454]

I should clarify, I usually only carry about $50-100 cash in my wallet. Typically pay cash for small purchases. I will go to the bank and get $200-300 in $20 bills for spending cash every 2-3 weeks. The larger $1000+ is kept at the house, in $100 bills.

Ever notice how it can be difficult to cash a $100 bill sometimes? A lot of places will not take any bill larger than $20. I think it has to do with change in the drawer and also $100 bill is the most common counterfeited bill.

[donheff]

I'm like W2R. I get $300 at an ATM and it lasts quite a while. Everything that can go on a CC goes on a CC. DW and I often stop for lunch or breakfast on bike rides and some of those places are cash only. I also pay with cash for small purchases at stores <$10

[RetireAge50]

Have $3 in my wallet right now. Will get $40 or something next time I'm out walking around.

None at home except a few ounces of silver and some spare change in a jar. Use credit cards for most purchases.

[braumeister]

Almost always $70 to $100 cash in my wallet. Another $200 or so in the house.
Plus the emergency $20 hidden in the car.

Since my bank reimburses any ATM charges, it's kind of a no-brainer to just top up the supply as needed.

[mrfeh]

Unless I'm traveling, I'll have less than $20 on my person. Never more than $300 at home.

[RE2Boys]

$23 in my wallet right now, always less than $40 unless traveling. At home usually around $200 or so.

During Y2K had about $2000 at home just in case ATM/banks/CC systems had a glitch, actually had two stores that could not take CC in Jan 2000.

Recently went on two week trip to Arizona with $500 cash. Came home with $300.

[flyingaway]

I keep a few thousand dollars of cash in my safe due to frequent overseas trips.

[Senator]

Quote:

Originally Posted by robnplunder Huh? Never heard of this before. They should be paying you for depositing money, and not the other way around.

Yep, in a business account, that's what they do. At least the type I have.

[LOL!]

We had a situation where our bank at the time (Bank of America) prevented all withdrawals from our accounts for about 3 weeks including checks, ATM, and bill pay. That is, we had no access to getting any cash for 3 weeks. We found that we didn't need to use any cash at all because credit cards worked for us all the time.

[tuixiu]

Quote:

Originally Posted by W2R Normally when I run low on cash, I go to the ATM and withdraw $300. So, at most times I have between $20-$300 in my wallet.

We're almost same as this.

Pull out $300 when out of cash, except I'll usually take about $40 and stash the rest in our hiding spot. Wife and I will both pull about $40 at a time from there until no cash again, then repeat.

[Chuckanut]

A few years ago a windstorm knocked out power to my area for several days. During that time some merchants opened their doors, but with no electricity all business was done by hand with cash. No cash = no food, etc.

[gcgang]

I haven't used an ATM since I was in college, mid 1970s.

Usually have $10-20k for poker/Vegas money in the house.


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[Live And Learn]

I withdraw $400 every 12 weeks. I replenish when I get to $100. DH and I usually only carry $10 each, the rest is in the house. In a disaster I'd probably drive far enough away to find a place where credit cards are working.

[Rustic23]

W2R +1

When I get below $20, I check how much DW has, if she is the same we withdraw $300. We travel with a little more.

[Sue J]

DH took over grocery shopping (our largest monthly expense) last year and he shops at a store that takes only cash, check or Discover card. He wants to shop with cash so every month I withdraw the grocery cash, pocket cash for both of us, some eating out cash and an extra $300 for our "other" category, which is anything that's not groceries, gasoline or bills paid online.

Some months we use all of it but most months I have some excess so cash accumulates here at home. It's nice to have an extra $500-$800 available at home. When the cash bundle gets too big I take less from the bank for the next month.

I also have my own cash stash (currently $350) which is my accumulated monthly wallet cash that I don't spend, plus birthday money or rebates or whatever. In June I used that to jump on a one day price drop at Best Buy on the iMac computer I had been considering. I didn't use the cash for that since I already had Best Buy charge card that had a 6% reward for Best Buy purchases. Instead I used the Best Buy card and later deposited the cash in the bank.

I used to enjoy using credit cards for the reward points. DH was always hands off on anything connected to money. I always wanted him to be involved and he said he would be if we used cash, so that's why we changed.

[Throwdownmyaceinthehole]

Hubby and I each get 100 bucks per week allowance, been that way for 27 years. Use it for lunches, coffee and things we don't want each other to know about like cigars for him and I hoard for travel and gifts. I just had $800 stashed and put it on a chase liquid card to buy Christmas prezzies.

[mickeyd]

I have very little use for cash so I don't carry much on me. Virtually all I purchase is with a CC. For example I tapped the ATM for $60 2 weeks ago. I think I still have the same bills in my wallet right now.

[Mulligan]

Quote:

Originally Posted by Senator I probably have way too much. I past years, I have had near $100K... For anyone reading this, I do not have any now, do not try to break in. It is not worth your life (or mine).

So I assume when you do the cash is moved at night to under your mattress12 inches away from your Glock on the nightstand? I always have to have a couple hundred dollars cash available to me at home. I think it is more a throwback from pre ATM times than any current reason.


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[Palmtree]

I keep $800 in small bills in the safe for emergencies.