you keep cash in your wallet?

[J Francho]

Sometimes I pay my card off before the ACH processes recent purchases - no interest for me.

[TnRiver46]

18 minutes ago, J Francho said:

Sometimes I pay my card off before the ACH processes recent purchases - no interest for me.

If I could do that I wouldn’t use the card in the first place, such is life I guess 

[J Francho]

Doing that builds/repairs credit and earns whatever rewards they're offering.  It's not like I have a ton of revolving credit.  My ONE card has a $1000 limit.  It was $500, but the bank insisted they up it.  Just paying off the balance can be good for almost 10 points on the credit score.

[Captain Phil]

On 10/6/2022 at 12:50 PM, Dwight Hottle said:

I'm old school and always justify carrying a couple of hundred in case of an emergency. 

 

$200-$300 in cash normally.  I pay in cash when my wife and I go out to eat.  I charge everything else on my credit cards because they have cash back rewards.  We pay off the balance at the end of every month, so we never pay interest.  Paying interest on food that you already ate is the easiest way to get in trouble with credit.   

[GReb]

22 minutes ago, J Francho said:

Doing that builds/repairs credit and earns whatever rewards they're offering.  It's not like I have a ton of revolving credit.  My ONE card has a $1000 limit.  It was $500, but the bank insisted they up it.  Just paying off the balance can be good for almost 10 points on the credit score.

Increasing your credit limit helps too. Your utilization rate is taken into consideration so having a $10k limit and only using $1k will increase your credit score. 
 

Also, debt is not always a bad thing depending on rates. You are better off borrowing money at low rates and investing the difference. Why pay $30k in cash for a vehicle when you can borrow that at 3% and invest your cash earning 7%?

56 minutes ago, TnRiver46 said:

That just means they made a pile of money off me if they are handing it back 

 

but I will still gladly accept their crumbs and purchase 3 gallons of gas 

They made a pile of money off the undisciplined people who accrue interest

[Captain Phil]

23 minutes ago, GReb said:

Why pay $30k in cash for a vehicle when you can borrow that at 3% and invest your cash earning 7%?

 

Where can you invest cash and earn 7% today?

[Choporoz]

I use no fee credit card for everything.   Haven't carried a balance in over 15 years.  I get 1.5 - 2% cash back on every purchase, even on bill payments....several hundred per year 'free cash'.

[J Francho]

25 minutes ago, GReb said:

Increasing your credit limit helps too. Your utilization rate is taken into consideration so having a $10k limit and only using $1k will increase your credit score. 

I know that and hear you, it just took so much hard work to dig out a few years ago.  I'm not quite ready for that step.

26 minutes ago, GReb said:

Also, debt is not always a bad thing depending on rates.

Yeah, my mortgage is like 2.5%.  I laugh at all the recommendations to pay it off in larger chunks.  That money goes toward various retirement investments.  For the time being I'll live my house for as little as possible.

[TnRiver46]

33 minutes ago, GReb said:

 

They made a pile of money off the undisciplined people who accrue interest

Undisciplined, poor, broke, crazy, often smelly, trying to stay married, etc . Guilty on all counts 

 

Lots of life events cost more than I got 

[Bird]

Debit card 99% of the time.

Haven't had a credit card in many years.

Oh and yes, always have a small amount of cash on me at all times 

[Deleted account]

18 minutes ago, J Francho said:

Yeah, my mortgage is like 2.5%.  I laugh at all the recommendations to pay it off in larger chunks.  That money goes toward various retirement investments.  For the time being I'll live my house for as little as possible.

Yeah, but if you actually do the numbers it's almost a wash. Sure the last 3 years makes everyone think you just buy investments by throwing darts and make a killing, but the kid with the flute has been playing the tune for a while now, and the next several years are going to make earning much on investments going forward tough, trading on the other hand is gonna be good, but not for the inexperienced or faint of heart. I think I got a bit of a strategy, but if not, more fish are going to die and the ice guy is gonna be happy...

[BassNJake]

Next bass resource meet and greet I'm gonna rob some of y'all

 

[N Florida Mike]

I haven’t been carrying any cash lately. Not that I have much to carry anyway.

No credit cards. Lately, just using the debit card or gift cards that I get for hitting goals at work…

 

[TnRiver46]

1 hour ago, BassNJake said:

Next bass resource meet and greet I'm gonna rob some of y'all

 

“The Powell river pickpocket “

[fishwizzard]

12 hours ago, Deleted account said:

 and her region (DC, Baltimore, NOVA)  would get on average a few each week, sometimes more. Still have a few around the house, some were quite good, some were laughable.

 I used to live in College Park and got to know my local corner store owner pretty well.  One day I needed to break a $100 bill and asked him to do so.  Like, I am in this store 2-4 times a week, you can see my front door from the store's front door and the owner knew more or less which house was mine.  Even with all that, I got the stink-eye for a bit before he did it.

 

I asked "man, how many fake hundreds do you get a year?" and he pulls out this huge binder, like for baseball cards, just full of fake bills.  I start freaking out, like there are dozens and dozens of various fake bills. I suggested that he maybe call someone and turn them in, but he seemed shocked that anyone would be interested in them as he said it was like a monthly if not weekly thing.  

[TOXIC]

New benefit we just got.  Due to my 34 year career with the feds and traveling the USA closing banks and S&L’s (over 200 to be exact) I’m pretty much an expert on managing debt and credit cards.  We have a ridiculously high credit score and I have made sure we only carry 2 main credit cards and we have a couple of extras like a Home Depot charge account and a visa for the guide service where nothing but business charges go.  Wife joined BJ’s and cancelled Costco out of convince due to the location of the stores and she wanted to open a BJ’s credit card.  My initial reaction was a resounding NO! But after looking at the benefits which included good cash back, fuel discounts (she paid $2.89 per gallon the other day) in store discounts, no checkout waiting (with the app and credit card you scan as you shop and then just walk out) and a few other perks, it was well worth it.  We also never carry any balance on any card over 30 days and recently even put some of my dental surgery that ran over $20,000, on a card and then paid it off for the cash back.  

[NYWayfarer]

I carry $50 in cash for emergencies. Just last week I had to use it at McDonalds as they were taking cash only since the credit card machines were down. I was wondering why the drive though was going so fast. People that had no cash were dropping out of the line.

 

I charge everything with a rewards card. The wife is an accountant and budgets so we pay off the cards in full each month.

[gim]

7 minutes ago, NYWayfarer said:

I carry $50 in cash for emergencies. Just last week I had to use it at McDonalds

I definitely would not label a trip to McDonalds as an “emergency.” Heck, the only emergency would be later to the toilet.

[deaknh03]

On 10/7/2022 at 1:48 PM, Captain Phil said:

 

Where can you invest cash and earn 7% today?

Thats what I was gonna ask.

On 10/7/2022 at 3:08 PM, BassNJake said:

Next bass resource meet and greet I'm gonna rob some of y'all

 

Go read the gun forum then choose wisely. 

[TnRiver46]

9 hours ago, gimruis said:

I definitely would not label a trip to McDonalds as an “emergency.” Heck, the only emergency would be later to the toilet.

Hahaha! I see what you did there 

[Columbia Craw]

Yes. A hundred bucks.  My CU blocked my Visa and debit card once. I went in to ask why.  The teller told me I was deceased.  I was glad I wasn’t out of state when that happed.

[schplurg]

I like to have about $100 cash in my wallet. I don't like to have zero cash, though sometimes I do.

 

Sometimes the credit machine at the store doesn't work. Some places charge extra for using a card if you don't buy enough stuff. Some gas stations give a cash discount (haha yes saving $0.10 on a $6 gallon of gas is real enticing!).

 

Hookers, drug dealers, bribing judges, throwing money at strippers. Cash is still useful!

[throttleplate]

About 40.00 is what i carry as credit card is used 99.999 % of the time.

Many years ago i always carried a condom in my wallet, the old saying never leave home without it applied to my party days.

Back then i always used cash so my wallet was full of bills and a condom mixed in.

On more then one occassion the condom came out with the bills and fell on the counter while buying stuff. Got a few smiles.

[Deleted account]

On 10/10/2022 at 9:48 PM, schplurg said:

Hookers, drug dealers, bribing judges, throwing money at strippers. Cash is still useful!

Dude, I want to hang out with ya...

[A-Jay]

On 10/10/2022 at 9:48 PM, schplurg said:

Hookers, drug dealers, bribing judges, throwing money at strippers. Cash is still useful!

Isn't that a Rap song ?

A-Jay