I'm always interested in the way some people say they spend more when they carry cash and other people say they spend less.
Some people say that they'll just spend whatever cash they have, making purchases that they'd never make if they had to pull out a credit or debit card.
Other people say that seeing the amount of cash in their wallet dwindle gives them a very clear sense of how much money they're spending, whereas whatever they put on their credit or debit card is somehow invisible until they actually get the bill (at which point they're shocked at what they'd spent).
Personally, I don't have either of these reactions. Cash, credit, or debit--it's all my money and I pay attention to what I'm spending. The idea that it'd somehow be different seems a little odd to me. And the idea that it's different in opposite directions for lots of people seems even odder.
I feel like I actually spend less when I carry cash.
For example, if I'm grabbing something to eat and have a $5 bill, I'm likely to get something inexpensive, say $2 to $3 bucks, so as to not use all the cash in my wallet. On the other hand, if I was using my debit card, I'd get whatever I felt like, which would likely cost more than $5.
It's motivating not to spend when you can actually see the money disappearing from your stash :)
Sure it is handy to have a few bucks on you for a small irrelevant purchase like a pack or gum or tip the bell boy, but the more important reason to carry cash is to avoid credit card debt. When you have have to pay with cash you will be less likely to come home with a bunch of crap you don't need but felt you could not live without in that moment of weakness!
I find it so much easier to keep track of how much money you are spending when you don't just throw it all on a credit card statement and then get this huge bill. I racked up considerable debt (which I"m currently working to get out of) and as a result, I only carry enough cash on me for what I know I can spend for the day/week etc. Then, when it's gone, I know I can't spend anymore. This really helps when I know I need to get gas for my car, only have $15 in my wallet, but really want that little something. It's not a hard choice when I'm faced with that situation.
Another time this can be necessary is if you are living / working / traveling in an area where the government can fall at any time. It's a good idea to keep politically oriented evacuation cash available as well. Particularly if your bank is one that is tied specifically to the country you are working in . . . a colleague of mine lost his entire life savings after watching the person ahead of him get the last allowed cash out of the machine as the country they were working in erupted. I learned from his experience and only kept enough in my account to keep it open and wired most of my salary to an account in a stable nation. The rest I kept on me along with passport, a supply of visa photos and my apartment key to run back and grab my "go bag" if the need arose. I lived off that cash and my extra tutoring money every month.
Here's another tip, NEVER BUY ANYTHING from US Modular. Their rebate history is so bad (look at their Better Business Bearow score), that you shouldn't buy from them even if it's without a rebate- if they're that unethical with rebates, don't buy anything from them period.
I live and travel near cities that most would agree can be a little on the dangerous side. I ALWAYS keep twenty or thirthy dollars in cash on my person. I'm not a shrinking violet, but I am going to risk injury over a few bucks. In a mugging situation you better have a few bucks to give up to your assailant or risk increased violence. Thank goodness it has never happened to me, but it has happened to a couple of people I know.
And also, certain dollar stores carry first aid items. I've seen name brand diaper rash treatment (which is also a budget alternative for zit cream, btw) for a buck a tube on numerous occasions.
Really glad you're covering the parenting topic so well, Linsey. Great job.
Another reason to carry cash is for those times when the power grid or banking infrastructure is down. I suspect most of the atms were not operable for a time in New Orleans.
Also, cash is pretty handy when (for instance) your spouse loses her credit cards on a business trip and you have to cancel all of your accounts. Then you're just stuck with your cash on hand and some checks...not the best situation, especially when you access your bank via the internet....
Lastly, I've long thought it was a good idea to have a small stash of cash at home. Now that our new house is pretty much finished, I think I'll try to scrounge up a few bucks to keep close at hand for emergencies.
During the aftermath of Hurricane Katrina, many NOLA refugees were left without any money as their banks were underwater and their ATM/debit cards were left useless. In many instances, family and friends who set up their houses as shelters were gracious enough to offer personal loans or cash personal checks (often without expecting to get paid back) in order to help these NOLA residents survive those first few horrible weeks after Katrina.
This affected people trying to survive afterwards as well as people trying to drive out (gas costs $$$). It's always a good idea to have enough cash on hand to get yourself out of a bad situation like that.
If I have cash, I will use it for tipping, but I tend to spend whatever is in my wallet. If I have to break out the plastic (debit card) to buy, I'm less likely to actually make a purchase.
I think it's excellent advice for people to carry around cash. My wife and I use cash for nearly all of our purchases. It's far easier to know how much you're spending if you can see the dwindling cash supply in your wallet (or purse or envelope or whatever you use to carry cash). There have been many times in my life that I was shopping somewhere that only accepted cash.
It's feasible that there really are 32 AAs in there...wiring groups of 8 in parallel and then connecting them in series will give you 6V. They won't be alkalines, however, and the amount of power you're going to be able to pull from them isn't going to be up to the standards you're used to. Cheap generic non-alkalines can be bought online for $0.08 each in bulk or $0.13 each for 40: http://www.cheapbatteries.com/generic.htm
When I was younger my dad always had a $20 bill tucked deep in his wallet, his "mad money". Now I carry on with the same practice and it has come in handy on multiple occasions.
Great safety tips, and great math. I knew the combinations were dramatically reduced when you know the numbers. I also thought repeating a number would not help at all, so I'm glad you helped resolve that one.
You're both spot on. I recently heard a story in which an optemetrist stood up at a contact lens convention and asked "so what's the difference between daily and monthly disposables?" to which the guest speaker replied "good question...do we have any other questions?" I'm paraphrasing of course, but the upshot is that there's really no difference at all.
That's exactly what I do! I got the daily disposables and wore each one for longer than suggested.. (some would last a a few days, some would last a week.) It was very cost effective... but on the flip-side, I also tried those that you can wear for 30 days and nights without any maintenance.. I LOVED THOSE. So I would wear a pair for 30, take them out and let them rest, put in a new for 30 and switch back and forth... you could tell when they were ready for the trash. My eye doctor knew and didn't care one way or another...
Enjoyable. I've often wondered at group dynamism on comment pages myself.
Normally a OWW. It can't be helped, I'm a minimalist.
Thongs without a thong, ehe!
I'm always interested in the way some people say they spend more when they carry cash and other people say they spend less.
Some people say that they'll just spend whatever cash they have, making purchases that they'd never make if they had to pull out a credit or debit card.
Other people say that seeing the amount of cash in their wallet dwindle gives them a very clear sense of how much money they're spending, whereas whatever they put on their credit or debit card is somehow invisible until they actually get the bill (at which point they're shocked at what they'd spent).
Personally, I don't have either of these reactions. Cash, credit, or debit--it's all my money and I pay attention to what I'm spending. The idea that it'd somehow be different seems a little odd to me. And the idea that it's different in opposite directions for lots of people seems even odder.
Always enjoy your blog and thanks for the mention!
I feel like I actually spend less when I carry cash.
For example, if I'm grabbing something to eat and have a $5 bill, I'm likely to get something inexpensive, say $2 to $3 bucks, so as to not use all the cash in my wallet. On the other hand, if I was using my debit card, I'd get whatever I felt like, which would likely cost more than $5.
It's motivating not to spend when you can actually see the money disappearing from your stash :)
Sure it is handy to have a few bucks on you for a small irrelevant purchase like a pack or gum or tip the bell boy, but the more important reason to carry cash is to avoid credit card debt. When you have have to pay with cash you will be less likely to come home with a bunch of crap you don't need but felt you could not live without in that moment of weakness!
I find it so much easier to keep track of how much money you are spending when you don't just throw it all on a credit card statement and then get this huge bill. I racked up considerable debt (which I"m currently working to get out of) and as a result, I only carry enough cash on me for what I know I can spend for the day/week etc. Then, when it's gone, I know I can't spend anymore. This really helps when I know I need to get gas for my car, only have $15 in my wallet, but really want that little something. It's not a hard choice when I'm faced with that situation.
Another time this can be necessary is if you are living / working / traveling in an area where the government can fall at any time. It's a good idea to keep politically oriented evacuation cash available as well. Particularly if your bank is one that is tied specifically to the country you are working in . . . a colleague of mine lost his entire life savings after watching the person ahead of him get the last allowed cash out of the machine as the country they were working in erupted. I learned from his experience and only kept enough in my account to keep it open and wired most of my salary to an account in a stable nation. The rest I kept on me along with passport, a supply of visa photos and my apartment key to run back and grab my "go bag" if the need arose. I lived off that cash and my extra tutoring money every month.
Here's another tip, NEVER BUY ANYTHING from US Modular. Their rebate history is so bad (look at their Better Business Bearow score), that you shouldn't buy from them even if it's without a rebate- if they're that unethical with rebates, don't buy anything from them period.
I live and travel near cities that most would agree can be a little on the dangerous side. I ALWAYS keep twenty or thirthy dollars in cash on my person. I'm not a shrinking violet, but I am going to risk injury over a few bucks. In a mugging situation you better have a few bucks to give up to your assailant or risk increased violence. Thank goodness it has never happened to me, but it has happened to a couple of people I know.
Yes, I should have mentioned disaster scenarious of both the large and small variety. Thanks, folks, for filling that gap.
And also, certain dollar stores carry first aid items. I've seen name brand diaper rash treatment (which is also a budget alternative for zit cream, btw) for a buck a tube on numerous occasions.
Really glad you're covering the parenting topic so well, Linsey. Great job.
Another reason to carry cash is for those times when the power grid or banking infrastructure is down. I suspect most of the atms were not operable for a time in New Orleans.
Also, cash is pretty handy when (for instance) your spouse loses her credit cards on a business trip and you have to cancel all of your accounts. Then you're just stuck with your cash on hand and some checks...not the best situation, especially when you access your bank via the internet....
Lastly, I've long thought it was a good idea to have a small stash of cash at home. Now that our new house is pretty much finished, I think I'll try to scrounge up a few bucks to keep close at hand for emergencies.
During the aftermath of Hurricane Katrina, many NOLA refugees were left without any money as their banks were underwater and their ATM/debit cards were left useless. In many instances, family and friends who set up their houses as shelters were gracious enough to offer personal loans or cash personal checks (often without expecting to get paid back) in order to help these NOLA residents survive those first few horrible weeks after Katrina.
This affected people trying to survive afterwards as well as people trying to drive out (gas costs $$$). It's always a good idea to have enough cash on hand to get yourself out of a bad situation like that.
If I have cash, I will use it for tipping, but I tend to spend whatever is in my wallet. If I have to break out the plastic (debit card) to buy, I'm less likely to actually make a purchase.
Thanks so much for your help! If I decide to go for it, I will come back with a full report.
I think it's excellent advice for people to carry around cash. My wife and I use cash for nearly all of our purchases. It's far easier to know how much you're spending if you can see the dwindling cash supply in your wallet (or purse or envelope or whatever you use to carry cash). There have been many times in my life that I was shopping somewhere that only accepted cash.
particularly prior to early morning coffee . . .
I'm in full agreement with this, particularly for the tipping, small purchase and overseas travel scenarious you mentioned.
It's feasible that there really are 32 AAs in there...wiring groups of 8 in parallel and then connecting them in series will give you 6V. They won't be alkalines, however, and the amount of power you're going to be able to pull from them isn't going to be up to the standards you're used to. Cheap generic non-alkalines can be bought online for $0.08 each in bulk or $0.13 each for 40: http://www.cheapbatteries.com/generic.htm
When I was younger my dad always had a $20 bill tucked deep in his wallet, his "mad money". Now I carry on with the same practice and it has come in handy on multiple occasions.
Great safety tips, and great math. I knew the combinations were dramatically reduced when you know the numbers. I also thought repeating a number would not help at all, so I'm glad you helped resolve that one.
You're both spot on. I recently heard a story in which an optemetrist stood up at a contact lens convention and asked "so what's the difference between daily and monthly disposables?" to which the guest speaker replied "good question...do we have any other questions?" I'm paraphrasing of course, but the upshot is that there's really no difference at all.
Turning a phrase is not as difficult as inserting the right hyperlink... I'm so absent-minded it takes me forever!! LOL
That's exactly what I do! I got the daily disposables and wore each one for longer than suggested.. (some would last a a few days, some would last a week.) It was very cost effective... but on the flip-side, I also tried those that you can wear for 30 days and nights without any maintenance.. I LOVED THOSE. So I would wear a pair for 30, take them out and let them rest, put in a new for 30 and switch back and forth... you could tell when they were ready for the trash. My eye doctor knew and didn't care one way or another...