Sometimes you need cash.

[The Cosmic Avenger]

So, you only saved the amount of the sales tax but they saved reporting income for the entire job. They came out ahead on that deal.

Not that I approve of this, but it's not a zero-sum game. They both have more money in their pocket than they would have without the tax evasion.

 

[Music Lover]

Not that I approve of this, but it's not a zero-sum game. They both have more money in their pocket than they would have without the tax evasion.

Yes, they both have more money. But the garage owner did much better on the transaction and they also were able to write off any parts that were required.

If you're going to do a cash deal then you should at least negotiate a discount in addition to the sales tax savings.

 

[joesxm3]

It's amazing how unprepared some people are.

A while ago there was a big winter power outage that lasted a week. At my company one woman asked if she could borrow a flash light as they did not have any at home.

The ATM machines were drained and no one had any cash. I had to make loans from my emergency stash.

I went out for lunch with one co-worker who did not have batteries. We went to BJ's and Home Depot. Of course all sold out. I had to stop at the bank for some reason, maybe to buy some nickels to hoard. I mentioned the batteries to the bank manager and he said that he had grabbed a couple sleeves and I could have 4 if I needed some.

I went back to the car, gave the batteries to my co-worker and told him that I had to get them out of my safe deposit box. They consider m2such a tin foil hat type of guy that he actually believed me.

 

[Jerry1]

I paid cash for a car repair, and then no sales tax happened. Funny how that happens.

Not that I approve of this, but it's not a zero-sum game. They both have more money in their pocket than they would have without the tax evasion.

While I’m not naive, there is no proof that this transaction is an evasion of taxes. It’s not known whether or not the repair was included in income when filing tax returns. Just because a flat amount was agreed upon, that doesn’t mean that the proprietor couldn’t separate out the sales tax (assuming a 5% sales tax - $200 = $190.48 sale plus $9.52 tax).

Part of the equation is that a credit card has its fees. Nothing wrong with avoiding that. Cash also has no collection risk like a check could have.

 

[MichealKnight]

Good reminder, thanks for sharing.

I always have 1 month's expenses in cash. And rarely if ever do I go out without at least some cash. I also keep a little more on me during travel even though it's usually domestic mainstream destinations.

I have little doubt that some entities want a cashless world. Hope they don't succeed.

 

[PatrickA5]

I can definitely relate. Until relatively recently, DW and I both felt that any purchase under about $20 called for cash. We have always been reluctant to use a card for those small things. As a result, I always have between $50 and $100 in my wallet.

But cashless transactions have become so easy and convenient, especially when traveling, that we have gradually been coming around to what the whippersnappers do. I'll always carry cash, but I find myself using it less and less these days.

DW used to use cash for small purchases at the local convenience store. She thought she was being "nice" by throwing down a ten for a $1.27 purchase. I told her to look behind her at the faces of the people that are waiting while the poor kid at the register came up with and counted out the change. It's just so much quicker (and easier) to run the credit card.

Having said that, I do carry cash (but rarely use it). I also have around a grand in a safe at home.

 

[Car-Guy]

Just got back from Vegas where cash is always king... I drove and I was carrying a lot more cash on this trip than usual and I was really a bit uncomfortable carrying so much. But as it turned out, I only had to worry about carrying that cash going to Vegas. Coming home, not so much.

 

[mystang52]

When the pandemic and lockdowns first hit, I stashed about $1500 in my home safe. Over time, that has dwindled to about $100. After reading this thread, I am going to restore that stash, just to play safe.

 

[MC Rider]

Those big fancy casinos don't build themselves for free you know.

 

[djsander]

Must have been a while ago. None of my CC's have raised letters anymore, let alone the card numbers in raised letters.

My card expired early this year. It’s replacement still has raised name and numbers.

 

[djsander]

Right, no more CC raised letters. They would have to fill out the whole thing by hand now.

Mine has them. Both raised letters for my name and the numbers. It was issued earlier this year.

 

[scrabbler1]

Must have been a while ago. None of my CC's have raised letters anymore, let alone the card numbers in raised letters.

My 2 CCs haven't had raised numbers or my name in a while. But my debit card, issued by the same bank as one of my CCs, and with roughly the same expiration date, has those raised numbers and letters. I guess that bank has a distinct policy for each type of card.

 

[djsander]

My 2 CCs haven't had raised numbers or my name in a while. But my debit card, issued by the same bank as one of my CCs, and with roughly the same expiration date, has those raised numbers and letters. I guess that bank has a distinct policy for each type of card.

My CC has raised letters and numbers, debit card is is from a different B&M bank and they printed out the debit card on site when we opened our accounts. I’m guessing each bank has their own policies. I did read somewhere that credit cards started going to the flat printed letters and numbers around 5 years ago and some print the number on the back. Also, read that they are doing away with the magnetic stripe. I’m not sure how that will work unless the magnetic stripe is embedded in the card. I get a lot of can’t read chip so you swipe the card. Although I’ve gone to tapping more and more. I’m not going to use my phone.

 

[sengsational]

After disembarking a cruise ship at the Copenhagen cruise terminal which is a few miles from town, we needed to take a bus ride to a metro station, then take the metro to the airport.

Not sure how recent this is, but mobilebillet is pretty convenient to avoid having/getting currency. Just searching "Copenhagen Public Transit App", downloading and typing your CC# in the app can make life in a foreign country pretty nice.

https://www.dsb.dk/en/travelling-in-the-cities/copenhagen/types-of-tickets-for-copenhagen/

And in Oslo, you cannot buy tickets onboard the bus at all. ).

Another mobile app to the rescue! https://ruter.no/en/journey/the-ruter-app/

Of course this presumes you've got some connectivity. In my recent situations, I had cell data, but even a cafe wifi would probably work.

But this is a "why have cash" thread, and I, like most people, have some cash. I rarely carry much with me, so probably would have disappointed the kids by not supplying the sloppy joes, but for something important, I could dig up a few bucks of currency.

 

[NW-Bound]

^^^ This was in June 2023.

In Stockholm, I tried to use the SL app, but it did not work with my credit cards (I tried one credit card and one debit card). Went through the 2-factor verification, the work, and got authenticated, but when I tried to buy a ticket with the app, no can do.

Ended up going to a Pressbyran convenience store (like Circle K) to get multi-day passes, and even got a senior discount (not available through smartphone apps).

In Oslo, somewhere I saw a notice that the ruter app worked only with European credit cards. Apparently, the same limitation existed with other two countries and I did not know. They did not tell me.

PS. My credit cards worked everywhere else, including pay toilets as mentioned earlier. Just not with the bus/metro systems. Why? Don't ask why. Just buy over the counter, and pay with the credit cards that do not work with the phone apps.

PPS. My T-Mobile phone worked great everywhere. Got 4G, and even 5G data. Good stuff. We were standing at the bus stop, while I was fumbling with the phone to download and install the SL app, then try to run it. Should have done this earlier to know it would not work.

 

[yakers]

I carry maybe $200 in cash, also carry a number of $2 bills which are appraciated as tips. I carry cash in a money clip. I like the money clip because, well, I have money to put in it.

 

[DrRoy]

When we travel we usually bring a few hundred $.

 

[sengsational]

In Oslo, somewhere I saw a notice that the ruter app worked only with European credit cards.

Interesting, and good to know. I had success in 3 regions of Norway, and also one in Scotland. Maybe I just got lucky. I used two different cards. BTW, Halifax was "fogies ride free day", so didn't try there An instance where instead of cash suddenly being required changed to cash suddenly not required!

 

[NW-Bound]

Apple Pay which I don't have would have worked with the ruter app.

See below. There's this 3-D Secure thing.

The Ruter App only accepts VISA/Mastercard from European countries. If you are from a non-European country you can use Apple Pay. (some non-European credit cards might work, check with your bank to see if they support 3-D Secure).

The VY App only accepts VISA/Mastercard from European countries. They offer payment through PayPal.

The Entur App only accepts VISA/Mastercard from European countries.

 

[tulak]

I carry a debit card, not cash, but only when traveling. That saved me once in Berlin where we went to a restaurant that didn’t accept credit cards. I realized my mistake too late, otherwise we would have went elsewhere, so I had to make a quick run to the ATM to get cash. That was in 2022.

Last month I was in the UK, mostly London and Scotland. Didn’t get any cash and had no issues. I even paid for the bathroom at the bus station using Apple Pay. [emoji2]

I have some cash at home, but I never carry it with me. I find it at odd times, usually when I’m cleaning. I guess I try to keep ~$100 around, just in case, but I’ve never had a need to use any of it.

 

[CaptTom]

I carry lots of cash. Sometimes I get repaid in cash, like splitting a check, buying something for someone, or whatever. I never use it, so it accumulates in my wallet. I had to take a wad out and deposit it at the bank a while back. I'm rarely ever in a bank, or even at a drive-up window or ATM.


Interesting that this (retirement-age) group skews toward paying in cash. I suspect a younger cohort would go the other way.

 

[Midpack]

I feel stupid charging anything much less than $20 because we track every CC or check (very rare) expense for budgeting. We both take $80 cash in allowance biweekly - but TBH have trouble spending anywhere near that much in cash.

I’d also have a tough time settling golf wagers 3 times a week without cash.

OTOH some of DW’s pickleball buddies pay even tiny charges ($2.50-$5.00) with Venmo.

But I’m fine with any enterprise that uses cash only, clearly the dominant trend. We use Apple Pay as much as possible.

 

[NW-Bound]

I carry a debit card, not cash, but only when traveling. That saved me once in Berlin where we went to a restaurant that didn’t accept credit cards. I realized my mistake too late, otherwise we would have went elsewhere, so I had to make a quick run to the ATM to get cash. That was in 2022.

Last month I was in the UK, mostly London and Scotland. Didn’t get any cash and had no issues. I even paid for the bathroom at the bus station using Apple Pay. [emoji2]

I have some cash at home, but I never carry it with me. I find it at odd times, usually when I’m cleaning. I guess I try to keep ~$100 around, just in case, but I’ve never had a need to use any of it.

I usually drew 200 euros at an airport ATM after landing in Europe, although I tried to use credit cards as much as possible at restaurants and shops.

This time visiting Scandinavian countries, I did not want the hassle dealing with 3 different krones from 3 countries. It's tough enough to remember their relative values with respect to the US dollar when we bought something.

Hence, we used credit cards throughout, except for that time when we had to pay for a bus ride from the cruise terminal in Copenhagen. The bus driver accepted euros as a courtesy to continental Europeans who of course carried euros. The fare was rounded up to 4 euros even, with no change returned. That was more than what it cost in krones, but I was glad to not have to walk.

 

[CardsFan]

I feel stupid charging anything much less than $20 because we track every CC or check (very rare) expense for budgeting. We both take $80 cash in allowance biweekly - but TBH have trouble spending anywhere near that much in cash.

I’d also have a tough time settling golf wagers 3 times a week without cash.

OTOH some of DW’s pickleball buddies pay even tiny charges ($2.50-$5.00) with Venmo.

But I’m fine with any enterprise that uses cash only, clearly the dominant trend. We use Apple Pay as much as possible.

Re: Bold above

I used to feel that way, but have gotten used to using the CC for just about everything at gas stations, markets, etc. There are some small places that prefer cash (why? I don't ask, they don't tell), but I'll charge 54 cents at Home Depot for some nuts and bolts. Why? I don't want the 46 cents in my pocket.

 

[tulak]

This time visiting Scandinavian countries, I did not want the hassle dealing with 3 different krones from 3 countries. It's tough enough to remember their relative values with respect to the US dollar when we bought something.

Hence, we used credit cards throughout, except for that time when we had to pay for a bus ride from the cruise terminal in Copenhagen. The bus driver accepted euros as a courtesy to continental Europeans who of course carried euros. The fare was rounded up to 4 euros even, with no change returned. That was more than what it cost in krones, but I was glad to not have to walk.

Another reason not to cruise? [emoji4]

Dealing with multiple currencies is a pain. The Euro makes it better, but doesn’t work everywhere. Last year I visited 4 different European countries, each with their own currency.

It amazes me at how quickly Europe has adopted contactless payments. Even in my home country I rarely need to get cash and it wasn’t that long ago they were primarily cash based. I think it’s a combination of convenience and the pandemic which sped up use of contactless payments.

And as for amounts, I’m in the camp that doesn’t care about the amount. Personally, I prefer cards since it’s a lot easier to track in Moneydance than cash. I download all my transactions and it only takes a few minutes to reconcile.