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How often do you carry cash?

Discussion in 'Money Matters' started by SriVidya75, Dec 14, 2009.

  1. SriVidya75

    SriVidya75 Platinum IL'ite

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    We went to temple last week and wanted to pay for the pooja service there and it turned out to be that the credit card machine went dead right infront of us.There were around 10 people waiting in the line. The Cashier there, requested that he can take only cash/cheque. We paid cash and to my surprise I saw that only 5 of them were remaining in the line.

    I was wondering, How often do you carry cash when you go out to buy/shop! Do you buy on creditcards/cash/cheque??? I see that some of my friends do buy on credit cards but they completely pay it off at the end of teh month..and they also get those reward points

    I would always carry some emergency fund of 30$ all the time with me. (this was my husbands rule for me...) If I spend it somewhere again he ensure I fill that back in again. These days due to recession and to keep track of expenses..I started paying on debit card no matter how much ever is the amount .so that we dont end up on spending spree and also easy to know how much we have to spend in that month!

    So what about you friends??/
     
    Last edited: Dec 14, 2009
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  2. archana.kc

    archana.kc Gold IL'ite

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    SriVidya,

    I kind of bounce this way and that. I always have around Rs. 200 with me in my wallet - the emergency auto/taxicharges. But shopping, i rely more on the cards.I do not have a credit card, simply because I am comfortable with the spending my money theory.

    Yesterday, i went to poppat jammal, a corckery shop here and spent close to 3K.I had only that 200 INR in my wallet :) But, the incident of your puja service is so true - happens everywhere. Also, one more reason why I prefer carrying some cash is to avoid extra expenses. Most stores here have a minimum amount to be billed on card, and if it is 30 - 40 Rs less, I tend to buy unnecessary stuff :)

    Arch
     
  3. Pavarun

    Pavarun Silver IL'ite

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    I carry about $20, sometimes less. All shopping whenever possible is done only on credit cards. However we are the kind who will completely pay it off on the date due.
    For us it is much easier to keep track of expenses if done on credit cards since we have software that will categorize the spending and show exactly how much we spent on food, entertainment etc etc. If we have to get to that level of detail with cash, there is a lot of record keeping that needs to be done.

    We are not impulse buyers so no problems
     
  4. SriVidya75

    SriVidya75 Platinum IL'ite

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    Very valid point...I still do this unnecessary shopping once in a while...because of the min. to be billed on the CC:bonk
     
  5. SriVidya75

    SriVidya75 Platinum IL'ite

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    Dear! you are one gifted girl....I think the essence of spending lies here....being impulsive/not...To some extent I was able to control this..but once in a while its soo difficult to controll:crazy
     
  6. mbhatt

    mbhatt New IL'ite

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    I always carry $20-30 with me but at the time of shopping I used credit card. Even if I have to pay $ 1-2, I use my card. I think paying by CC is easier... you can build your credit history and also you get reward points.
     
  7. Pavarun

    Pavarun Silver IL'ite

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    One anti-impluse buying tactic that works well for me (in the US) is to buy it but do not remove the tags (if clothing) or open (if other items), at least for a week or two. Manytimes the heat of the moment passes and after a week I feel I really do not need it and will happily return it.
     
  8. prettyguns

    prettyguns Silver IL'ite

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    Hi Srividya,
    I hardly carry any cash with me, mostly my wallet would contain maximum 30 dirhams at a time. I hate handling cash for a peculiar reason I still cannot understand myself. I prefer to carry credit cards all the time for my expenses. But I am pretty disciplined in my spending and ensure that I pay of my credit card bills on time, hence very rarely have I paid any extra charges on my card. Further both my credit cards are free for life cards (most cards in Dubai are like that nowadays), so I do not pay any annual fees on the cards. 6 months back, I took a debit card, now my life is even easier. I do not even have to bother about month end bills. Debit cards are really a blessing to people like me who are allergic to carrying cash in their wallets. Other than that, how much ever my DH keeps telling me to carry some cash for some emergency, I just cannot do it. I guess my habit is easy to follow in Dubai where cards are accepted to pay for even 1 dirham but not sure if I could have done the same thing if i was living in Chennai.
    Regards
    Preethi
     
  9. SriVidya75

    SriVidya75 Platinum IL'ite

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    I thought swiping CC for less than 10$ amount and swiping frequently would lower the credit score:hide: am I wrong???:bonk
     
  10. SriVidya75

    SriVidya75 Platinum IL'ite

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    Woww Dear!! that was a good tip there:cheers
    My colleague at work does this...she buys whatever she likes..and the next weekend she returns whatever she doesnt want to keep or she doesnt feel of use...but some how I am lazy on returning stuff (same goes with my husband too)...thats where the glitch is...

    But let me try using your tip going forward...and see the benefits:idea
     
    Last edited: Dec 15, 2009

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