This Is Exactly How Much Cash You Should Carry at All Times

Discussion in 'Finance' started by signalmankenneth, Dec 1, 2018.

  1. signalmankenneth

    signalmankenneth Well-Known Member

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    Some of you may not be old enough to remember, but there was a time not long ago when leaving the house without at least a little cash in your wallet or purse was unthinkable. You never knew when you might need to spend money, whether it was paying a restaurant bill or filling up a gas tank or picking up some groceriesbefore heading home. Life was just a series of cash exchanges waiting to happen.

    But paper currency has become increasingly rare in our daily transactions. Credit and debit cards are accepted just about everywhere, and “minimum purchase” requirements are becoming things of the past. You can pay for taxis with an app, split a restaurant check with a friend by using Venmo, and pay for just about anything else with PayPal. If you have any cash on you at all, it never gets touched.

    Until that one time when you need it. Believe it or not, there are still moments in life when you’ll need cold, hard cash. And when that happens—and trust us, it always does—you’ll need to consider things you haven’t thought about in years. Like, “Do I have enough money?” That’s not usually something that goes through a person’s head when they’re paying with a credit card. If something costs $20, then your card just magically pulls that amount out of the ether. But if you’re paying in cash, then you need to have exactly $20 on you.

    https://www.msn.com/en-us/lifestyle/...VdA?li=BBnb7Kz


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  2. Blaster3

    Blaster3 Well-Known Member

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    imo, anyone using paypal is an idiot, and deserves to lose their assets... that said, there are many upscale restaurants that are cash only, so you'll need a bit more than 20 bucks in your pocket... the good news is, here in the usa you can still use cash, up to $9999 in one transaction, without generating that annoying irs red flag ;)
     
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  3. Ddyad

    Ddyad Advisor Staff Member

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    Probably a good idea to have a few old "junk" silver coins handy in case governments destroy the value of paper and electronic "money".
     
  4. Blaster3

    Blaster3 Well-Known Member

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    in times of economic collapse, ingots & bars would be a better value, hoarding coinage is a waste of money, as they cost more than face value & weight...
     
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  5. Ddyad

    Ddyad Advisor Staff Member

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    The coins are easier to hang onto. You would not have to carry around ingots to purchase groceries and fuel.

    Of course, ammunition might work even better as currency after a real economic collapse
     
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  6. Blaster3

    Blaster3 Well-Known Member

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    the barter system works great... silver ingots/bars can be had in very small denominations down to a dollar... gold, not so much and no one would give 'change'
     
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  7. Injeun

    Injeun Well-Known Member

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    When all the card readers went down at the grocery store, we happened to have enough cash and change for the small bill. We usually carry 40-50 dollars between us.
     
  8. jdog

    jdog Banned

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    $200? That's a little light, I usually carry about twice that. Considering a dollar is only worth about a nickel, that is the equivalent to carrying $10 in 1967.
     

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