Do You Keep Cash on Hand? How Much?

[AnIntentionalRoad]

$20-200 in bills and also a big jar of loose change at home.

 

[travelover]

$100 in deposit beer bottles in the garage.

 

[dallas27]

20-200 bucks


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[rodi]

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.

This is what we do. We have a hiding place (unknown to our kids) that we put the surplus. One of us will notice when taking the last bit out - and we'll decide who's going to hit the ATM next.. We pull out $300 usually every 3-4 weeks for 2 of us.

But, if we're travelling - we'll get cash up front, off schedule.

 

[Walt34]

I carry $80-$300 in cash, don't usually keep more than $100 at home. DW will walk around with $5 which drives me nuts. I still don't like cc bills, although that's impractical now but I still pay cash for gasoline and most other stuff that doesn't have to be cc like online buying.

DW wrote up a nice spreadsheet to keep track of cc outstanding charges and other stuff so there are not surprises when they come in. On birthdays and Christmas surprises are good, other times not so much.

 

[aaronc879]

I use cash for nearly all transactions so I keep a good amount around. I only carry $50-$150 in my wallet unless I know i'll be spending more. I have at least $500 around the house. I'm self employed and some of the companies I work with don't do direct deposit so I have to go to the bank. Since i'm there anyway i'll get cash to bring home. If I get a $3000 check I may get $1000 in cash then I don't need to worry about going back to the bank for several months.

 

[NW-Bound]

For many years now, I do not have more than a few bucks in my wallet, and often have $0.

One time, while visiting the local library, I saw a couple of nice donated books that were put for sale by the library for $1. I had to go to my car to round up some quarters from the ashtray, but when I came back, somebody already beat me to those books!

Since then, I have tried to keep a few bucks in my wallet.

 

[truenorth418]

I usually take $150 out of the ATM at the beginning of each month, though I typically don't spend it all in one month. I find myself using my credit card for as many transactions as possible and pay it off in full each month. This allows me to track my spending and avail myself of the cash back rewards.


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[audreyh1]

We keep $300 or so in the safe at home for emergency - the type where power is down and no access to ATMs. It occasionally gets raided to pay for service calls on the house. And we take it with us if we go on a long trip. So it has to be replenished occasionally.

We spend very little cash, but usually have at least $100 each. Visits to the ATM are very infrequent.

 

[jollystomper]

interesting. I tend to have at most $50-60 in my wallet and no cash at home, save for the "coin jar" which may peak out around $70. I've rarely thought about needing a lot of cash, credit cards and checks have covered everything (I monitor the balances so to ensure we are within budget range, and pay off the credit cards monthly).

The more cash I have, the more I'm tempted with small "it's not that much" purchases. It wouldn't be big deal to keep perhaps $500 in the house, I just worry I'd ended up frittering it away.

 

[Gumby]

I am a survivor of the great Northeast blackout of 2003 . I was trapped in my office in Manhattan for a day and a half with a minimal amount of cash and no way to get more. The ATMs didn't work and no place could process a credit card. I could not get home and it was quite miserable. Since that day, I have always kept at least $100 in my desk drawer at w*rk and several hundred dollars at home.

 

[kramer]

I live in the Philippines. ATMs are not as reliable here and credit/debit cards are not widely accepted. It is a cash economy. Also, I do not know if most hospitals will accept a credit card in an emergency as the *only* payment, they may want some cash up front.

I normally carry around $200 on my person and have an average of about $1000 at home (all in the local currency). If I had a safe, I would keep more cash on hand.

A friend lives nearby and he has an ATM card of mine (but not the PIN). In an emergency, I can call him and he could withdraw cash for me.

 

[iac1003]

Right now we have about $200, left from the $500 we took on a trip. Usually $50 to $100. Nearest ATM is 2 blocks from our house.

When MIL moved into nursing home her kids found a couple of thousand squirreled away among several hiding places in her house. One of you thrift store shoppers might have found a bundle they overlooked tucked into the back of a picture frame or something.

I found about $20K squirreled away at my mother's house.


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[KB]

About a decade ago I would get $400 monthly from the ATM for groceries and miscellaneous. I did my shopping at a store that only took cash or ATM. I still get $400, but don't spend cash regularly, so it lasts a few months or more. I not longer shop at the cheap store since they carry very few organics.

I still keep some cash in my safe, about $700 these days. I never use it but feel comfortable having it. Just like the $5000 in my MM paying almost nothing.

 

[LOL!]

I am a survivor of the great Northeast blackout of 2003 . I was trapped in my office in Manhattan for a day and a half with a minimal amount of cash and no way to get more.

Since you were trapped in your office, do you keep a few days worth of food and water in your office? At home? That would seem to be more useful than cash to me.

I was affected by hurricane Sandy. Cash did no good because roads were blocked by trees, gas stations were not manned, and no power for quite awhile. What did good was being prepared with food and water, so that one could shelter peacefully in place for a few days. That's pretty typical in a natural disaster.

 

[Gumby]

I do have a stash of canned goods and water at home. Enough for at least two weeks. I have bottled water at the office, but no food. If disaster strikes while I'm there, the primary purpose of the cash is to get home.

 

[RockyMtn]

Keep about $100 in my money clip. Mainly for golf gambling and tips for the guys who clean clubs, valet guys, etc. Keep another $1500 in the safe at home for whatever comes up.

 

[footenote]

Late spring, summer and early fall are the only times of year I worry about having at least $25 / week in the wallet because of my Farmer's Market habit. Only one farmer uses Square.

(I expect as Square, GoPayment, PayPal Here, Spark Pay and other transform-your-smartphone-into-a-POS penetrate, we'll see the use of cash continue to plummet.)

Other than Farmer's Market season, between the two of us we generally have $20 - 40 tops per person on us. And we often do not spend that cash for months at a time.

 

[Senator]

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 have a solid fireproof safe. And I actually, I have a Sig... And a S&W or three, and several Dan Wessons, and many others. I didn't have any ARs until a couple of years ago, now I have I think 7, and about 30, 3- round clips.

You can never have too much cash, or guns...

But that is why I recently paid off a mortgage. I now get 5.5% on my former loose cash that is now invested in a 'Mortgage Bond'. it's just a lot harder to get it out now.

 

[Mulligan]

I have a solid fireproof safe. And I actually, I have a Sig... And a S&W or three, and several Dan Wessons, and many others. I didn't have any ARs until a couple of years ago, now I have I think 7, and about 30, 3- round clips.



You can never have too much cash, or guns...



But that is why I recently paid off a mortgage. I now get 5.5% on my former loose cash that is now invested in a 'Mortgage Bond'. it's just a lot harder to get it out now.

A couple times a year I have to load up on cash for my gambling trips. I do not like the feeling of having so much cash at home. But the feeling has been mitigated substantially since I purchased my "personal home protection device" along with several loaded clips.


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[travelover]

I have a missile launcher, 50 vicious dobermans with AIDs and a moat filled with alligators. Oh, and a collection of deposit bottles. Do I win?

 

[calmloki]

... transform-your-smartphone-into-a-POS ...

Nah. I have a cellphone that is already a POS And if our doors aren't open for the breeze at night then at least they are unlocked. C'mon in.

 

[Midpack]

Far too much, but with bank checking/saving interest rates at almost nil, I don't see a need to worry about cash on hand...no one would ever find my hiding place.

 

[robnplunder]

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

Our former BoA biz account never charged for cash deposits no matter what amount.

Rand mode on. My doctor is charging 3% for bills (for me, mostly deductibles) paid with credit card. Now I need to carry cash for regular check ups. He is also chraging 25 cents per paper record requests. The nerve of my doctor (who is easily making 6 figure income) nickle & dime'ng for every penny is making me consider changing my doctor. It's not the money that is pissing me off. The thought of a wealthy doctor milking pennies out of patients is making me sick. Rant mode off.

 

[Meadbh]

Our former BoA biz account never charged for cash deposits no matter what amount.

Rand mode on. My doctor is charging 3% for bills (for me, mostly deductibles) paid with credit card. Now I need to carry cash for regular check ups. He is also chraging 25 cents per paper record requests. The nerve of my doctor (who is easily making 6 figure income) nickle & dime'ng for every penny is making me consider changing my doctor. It's not the money that is pissing me off. The thought of a wealthy doctor milking pennies out of patients is making me sick. Rant mode off.

Before you judge the "wealthy doctor" please know that he is a small businessman with significant overhead (probably 30-40% of total income). He needs to manage his income and expenses just as carefully as you do.