Where Do You Get Cash? I’m confused...

[audreyh1]

Absolutely!

One major issue with handling cash is that it is usually filthy!

I think those workers are simply going to have to use disposable gloves for handling cash and tickets.

 

[Finance Dave]

We have an "envelope" hidden in our house that has about $300 in cash. We each keep about $60 in our wallets. We rarely use cash, but when we get low...we simply get some from the envelope. When the envelope gets low, we refill via an ATM withdrawal. But that is rare...because inevitably we get cash other ways, such as:

1) Sell something in the local paper and the buyer pays with cash
2) We buy tickets for a "group" of friends on our credit card, and they pay us back with cash
3) I do some minor handyman work occasionally, and sometimes people pay me with cash


I would estimate we spend less than $200/year with cash.

 

[bobbyr]

I'm not one of those infrequent ATM users. I withdraw $300 from a drive-through ATM whenever I want more cash, which has generally been once a month.

I spent a lot of my early life struggling to make ends meet, and I am not in that position any more. So, I see no reason not to have plenty of cash in my wallet; I like not feeling poor.

i do precisely the same (300) - use the same ATM each time and get a text advice from schwab. I store the 100 bills in a book and retrieve as needed.

 

[2017ish]

To add a thought, even though we use little cash in the US on a regular basis, we always keep at least a thousand dollars cash on hand for emergencies. Our area was hit by the Nashville tornado and even now some businesses remain off-line and cash only in both Nashville proper and in our suburb.

Immediately after the event, our local Lowe's was among those without credit/debit capability....

 

[Sunset]

i do precisely the same (300) - use the same ATM each time and get a text advice from schwab. I store the 100 bills in a book and retrieve as needed.

I knew it pays to read.

 

[CaptTom]

i do precisely the same (300) - use the same ATM each time and get a text advice from schwab. I store the 100 bills in a book and retrieve as needed.

To add a thought, even though we use little cash in the US on a regular basis, we always keep at least a thousand dollars cash on hand for emergencies. Our area was hit by the Nashville tornado and even now some businesses remain off-line and cash only in both Nashville proper and in our suburb.

Immediately after the event, our local Lowe's was among those without credit/debit capability....

Reading those together really makes me think.

$1,000 tucked inside books doesn't sound like such a great idea when you start talking tornadoes hitting your house.

And idea that Lowe's won't take credit or debit cards when you need them the most gives pause, too.

Some disasters are not so easy to plan for!

 

[Sue J]

I go to the bank in our grocery store the last few days of the month and I get cash for the next month. We use cash for all local spending which is grocery stores, Walmart, Home Depot, etc, and eating out. So it’s usually under $1500/month. I don’t use the ATM because of their amount limits.

DH likes the reality of using cash. I used to enjoy playing the credit card rebate game but when DH retired I asked him to get involved in our finances and he asked that we try paying cash for things. Now, I also like using cash.

DH using cash for local spending is still his only involvement in the finances. But at least he got that far. I tried.

The quoted post was from 2-25-20, before masks, social distancing and frequent hand sanitizing, etc.

Update....

Well, due to the pandemic we have moved away from using cash and now use contact-less payment via a credit card. We could use our bank account debit card but heck, I may as well get the 1% cash back if I'm going to use plastic!

Our biggest expense, groceries, has been with Walmart grocery pickup or Instacart. We've made a few purchases in stores and pay via credit card rather than interacting with cash and change. Easy enough.

Our Chase Freedom VISA card has 1% cash back with 5% on quarterly categories. Sometimes those categories are useful for us but often are not. Chase just offered me a 1.5% cash back on everything card so I applied for that and it should arrive soon. And there was a nice $200 cash back bonus if you charge $500 in the first 90 days. Yeah, I can easily do that. And I've always paid the bill in full every month. We have no debt and will keep it that way.

Although DH is the one who liked the reality and physical nature of paying with cash he's the one who wanted to avoid the physical exchange involved now that we are in pandemic mode.

 

[karen1972]

My physical bank is 5 states away, I grab some cash when I pass thru town to visit my parents, its usually enough to last the year.

This year we didn't go, but we sold a bunch of stuff thru fb,craigslist (it was a great time to get rid of office stuff) and took that cash and used that instead.

If all else fails I usually just get cashback at the store but probably haven't done that in 2 years.

 

[samm]

Cash back with (grocery) purchases? Larger bank withdrawals for a cash stash at home?[/url]

Yes & yes.
Cashback on Target RedCard or at Krogers. Go to bank ATM for $ only 1-2 times per year.

 

[Montecfo]

As an aside this thread illustrates just one portion of the value proposition for owning digital payments stocks, including MasterCard, Visa, PayPal (MVP) and others.

 

[FANOFJESUS]

About every couple of years, I'll run to the bank and pick up $1,000 in cash and put it in my safe at home. It lasts a long time. Haven't used an ATM in years.

I don't like atm's like the inside of the bank. I do some thing like you so simple and very few trips.

 

[Ronstar]

I just use bank drive up atm’s whenever I run out of cash. I don’t use much cash anymore, so I get maybe $200 once a month.

 

[jazz4cash]

I get cash from ATM about $200 every 3 months. I put $60 in my wallet and put the rest in one of 4 hiding places at home. Usually I forget I have it or where I hid it until I find it when I’m stashing cash from another ATM run.

 

[Dash man]

We have a convenience store chain (Wawa) that has ATMs with no fees. My bank allows me to pull up to $600 per day, so I go there maybe once a month for cash. I primarily use credit cards for the points and protections they provide, but I do like to tip in cash.

 

[Aerides]

I have a drive thru ATM at my B&M bank about a mile from my house. We make it a point to pull out about $200 when hurricanes approach, and usually find there's still some sitting around by the time the next one nears...

 

[Amethyst]

This reminds me, I should get some cash, since we're in hurricane season.

Normally, the only time we use cash is when handing out tips, and that mostly happens when we travel (Travel? What's that, daddy?)

One weird thing is that our credit union hasn't raised its daily cash withdrawal limit of $200 since I first joined nearly 40 years ago. Two hundred doesn't go quite as far, these days.

 

[RobbieB]

I wonder if there is a higher rate of tipping now that you really don't want change back?

 

[Rex]

So I used the search field on our "checking" account.....In 2019, we withdrew $600 in cash...And it was all from an ATM.

So obviously, we rarely use cash.....And the barber shop is the only place left that requires cash. I think I used ATM cash to exchange for 5's and 1's when traveling....Tip money is another "last place" we need cash.

Why would I pay cash (or write a check) for anything when I can earn cash by paying with our credit card?

 

[rk911]

we carry no more than $100 at any time. almost everything is paid by CC (the aforementioned barber and tips excepted). we don't care/not concerned about points or cash back. if we get either fine but we spend zero time planning and plotting which card to use for this and that. keeping up with that has gotta be exhausting. we're retired, man! if our wallets are lost or stolen the CC can be replaced, the cash can't.

safe travels.

 

[ownyourfuture]

we spend zero time planning and plotting which card to use for this and that. keeping up with that has gotta be exhausting.

Not at all. Amex for groceries 3.00%, MasterCard for fuel 3.00% & Visa Rewards for everything else 2.00%

 

[socaldonnan]

DH takes a ride to the bank first of every month and withdraws $1,000. The bank tellers greet DH by name and he likes to chat with them. We pay cleaning lady 2x month, I get my weekly allowance $50 which pays for manicures, pedicures and facials and before the pandemic lunch a couple of times a month with gal pals. Whatever monies left in my wallet when I get my next weekly allowance I just sock away for a rainy day. [emoji6]

 

[jazz4cash]

This reminds me, I should get some cash, since we're in hurricane season.

Normally, the only time we use cash is when handing out tips, and that mostly happens when we travel (Travel? What's that, daddy?)

One weird thing is that our credit union hasn't raised its daily cash withdrawal limit of $200 since I first joined nearly 40 years ago. Two hundred doesn't go quite as far, these days.

I assume that limit is for ATM withdrawals. Credit unions can be slow to change with the times. ATM withdrawal limits are generally associated with the capacity and technology (i.e. age) of the ATM. Newer machines capable of holding more cash and issuing various denominations can accommodate higher withdrawal limits but that doesn’t mean the bank/credit union will utilize the capability.

 

[Rex]

Not at all. Amex for groceries 3.00%, MasterCard for fuel 3.00% & Visa Rewards for everything else 2.00%

+1...simple and not exhausting (or I would not do it!)....So we have one credit card...it's a BofA Premium Rewards Card and we get 2% for travel and dining and 1.5% on other purchases plus a 75% bonus because of BofA relationship.

Also, figured the math and I come out ahead paying the fee when I pay property taxes and the IRS with the card.

We see no reason for cash unless it's the only option.

 

[kcowan]

Most of our purchases are tap and go. They allow cashback if we need it. We pay many casual labourers by payments on their credit cards. It seems that is as good as cash. To

 

[ownyourfuture]

Also, figured the math and I come out ahead paying the fee when I pay property taxes and the IRS with the card.

Funny how they call it a 'convenience fee' if you want to pay with credit card.
It's 2.49% in my county.