Does anyone still use physical cash? Why?

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  • Higgins909

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    Apr 7, 2016
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    Pflugerville
    Im 25, I've pretty much never used physical cash besides some garage sales. I've got a couple credit cards that have different amounts of cash back and try to get the most cash back. I have noticed that I have difficulty keeping track of my spending. It doesn't help it's spread out on a couple different cards now. I've mathed out I should be able to live off of $400 a month, but I'm way over. Which is not helping my financial goals. I wonder if I should try physical cash out for a while. With my current over budget spending I'm only getting about $200-400 a year in rewards. If I stick to my budget, the card rewards would be a fraction of savings.

    Do you still use physical cash? Why do you use physical cash?

    Thanks,
    Higgins909
    ARJ Defense ad
     

    msharley

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    Feb 28, 2021
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    Hey 909,

    I'm a bit (40yrs) older than you...

    For the most part? Only use cash. Most outfits I deal with offer a good discount for CASH. (Saved $50 on a revolver, last month, by paying cash)

    Now listen close....

    If you have your mortgage thru your credit union....every week when you get paid...go and make 1/4 payment on your note...Makes for an extra payment every year...pay off your house about 10yrs sooner....

    Set aside the utility bills out of one week's pay. Set aside the car payment/insurance out of another week's. Set aside grocery monies out of the third weeks pay..

    At the end of the month, pay your bills...

    Use your charge cards just enough to keep your credit rating good...pay them off every month (say charge your gas/fuel)...

    Later, Mark
     

    MTA

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    Mar 10, 2017
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    Fannin
    Hey 909,

    I'm a bit (40yrs) older than you...

    For the most part? Only use cash. Most outfits I deal with offer a good discount for CASH. (Saved $50 on a revolver, last month, by paying cash)

    Now listen close....

    If you have your mortgage thru your credit union....every week when you get paid...go and make 1/4 payment on your note...Makes for an extra payment every year...pay off your house about 10yrs sooner....

    Set aside the utility bills out of one week's pay. Set aside the car payment/insurance out of another week's. Set aside grocery monies out of the third weeks pay..

    At the end of the month, pay your bills...

    Use your charge cards just enough to keep your credit rating good...pay them off every month (say charge your gas/fuel)...

    Later, Mark
    Sage advice right here ^^^

    @Higgins909 I am 30 and near enough to you in age. Id avoid building balances or even using multiple cards if I were you. Murphy's Law will exploit all of that at any given moment and you will be left high and dry
     

    toddnjoyce

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    Sep 27, 2017
    19,285
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    Boerne
    Put the plastic away. Half of living on a budget is the paper and math. The other is the spending. Go pull $400 out of the ATM and put it in your wallet. Better yet, put specific amounts into specific envelops marked for that purpose. Grocery budget gets put into grocery envelop. Gas budget to gas envelop. Want a beer but the beer envelop is empty? You’re done with beer for the month. No cards, nothing but ID and the cash. You will make it last, I guarantee.

    Psychologically, it is harder to spend cash, especially as you watch it dwindle away. Plastic is the exact opposite.

    ETA: I’m primarily spend cash or EFT bills/mortgage. While I have one credit card, that bastard only gets used for hotel reservations, airline tickets, and rental cars. When there is a balance, it’s paid in full on thw due date.
     

    ZX9RCAM

    Over the Rainbow bridge...
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    May 14, 2008
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    The Woodlands, Tx.
    Im 25, I've pretty much never used physical cash besides some garage sales. I've got a couple credit cards that have different amounts of cash back and try to get the most cash back. I have noticed that I have difficulty keeping track of my spending. It doesn't help it's spread out on a couple different cards now. I've mathed out I should be able to live off of $400 a month, but I'm way over. Which is not helping my financial goals. I wonder if I should try physical cash out for a while. With my current over budget spending I'm only getting about $200-400 a year in rewards. If I stick to my budget, the card rewards would be a fraction of savings.

    Do you still use physical cash? Why do you use physical cash?

    Thanks,
    Higgins909

    Of course, if you don't keep a zero balance every month, you're not getting cash back.

    I always keep cash in my pocket, never know when the power goes out, or you need it for something and there's no machine around.

    Lots of advantages to carrying a couple hundred around with you.
     

    TreyG-20

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    Dec 16, 2011
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    Central
    Since your young, i would recommend Dave Ramsey... Financial Peace University. Every dollar has a name.
    Live like no one today, so you can live like no one tomorrow.
    Damn it I was going to bring up Dave Ramsey. Except he doesn't budget for guns and ammo, so forget what he says except sell your car, eat rice and beans etc..
     

    TexasRedneck

    1911 Nut
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    Jan 23, 2009
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    New Braunfels, TX
    95% of what I spend is in cash. Like others, what I buy is no one else's business. Only exception is vehicle loan (for some reason the bank get suspicious. I always have a bit of mad money around just in case.
    Notice I said vehicle loan? I had two of 'em for six months...paid off a new Ram 3500 DRW CC 4x4 in six months - had to replace my business truck. The car? Year-old Aviator. It'll be paid off come January. House was paid off 6 years ago. You'd be surprised what can happen when you pay cash for things...it makes you think.
     

    Lonesome Dove

    A man of vision but with no mission.
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    7   0   0
    Sep 25, 2018
    5,859
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    Cut n Shoot, Texas
    Cash is all I use. I haven't had a credit card in over 30 years and no checks for about 15 years. Cash is king it’s a sure way to get more for less depending on where you’re buying. Best of all no payments, interest or trail to follow.
    And my credit is fine but do I really need good credit? No
     

    baboon

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    May 6, 2008
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    Out here by the lake!
    And then there is working so much you don’t have time to spend it!

    Also do whatever you can not to pay someone to do for you! Things like cutting your own hair and doing your own yard work add up big time in a year.

    Buying a home sure beats renting. Home ownership does not come cheaply, but if done right pays off big time!
     
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