Pocket Cash

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Breen31806's picture
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Pocket Cash

Do you carry cash in your purse, pocket, wallet?

Many suggest that carrying and using cash instead of using your debit card makes you think more about what you buy.

So for those who carry cash, Do you find it harder to buy thing when you have cash? Cause typically once the cash is gone its gone.

alwayssmile's picture
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I mostly only keep cash around for paying the baggers at the commissary (they don't get paid other than tips). $20 can stretch a couple of months easily. However, I've never been one of those that swipes and forgets. I keep a very good handle on what I'm spending despite always using a credit card. The only reason I actually use the credit card is to collect cash back rewards. It gets paid in full every month because I only spend what's in our budget. I know a lot of people do struggle with this and cash in envelopes can be a great way to only spend what you've budgeted.

Mommyin0406080912's picture
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We are cash only people!

We pay for everything with cash and if we need something online I have a debit card that we use that is hooked up to a bank account we keep our savings in. Unless it's amazon we go to our local store and get giftcards to use.

I think it's easier that way, there is never that feeling well I will put it on my card and pay for it later. With 4 almost 5 kids our money needs to go a long way!

Your right when it's gone it's gone but a good budget will help!

ange84's picture
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I get my budgeted amount for groceries and petrol out each week and what ever is left from that is spending money for me for the following week. I don't have a credit card at all but do use my debit card when needed as sometimes something comes up unexpectedly. A credit card is something hubby and I have identified we don't want or need. If there is something we need to use a credit card for we have a visa card which uses our money and we also have to physically go to the bank to transfer the money so we really have to think out on line purchases.

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We use cash for pretty much everything...and yes, I do carry some with me. I have an envelope for groceries, dates/restaurants, and BLOW that are always in my purse. The only thing that I use the debit card for is gas and any online purchases (haven't been making any of those though).

I love using cash....when it is gone I know that I can't spend anymore. I actually feel it is quite freeing to use cash. I also find that I think about what I am purchasing and decide if it is really worth it. It definitely "hurts" more to see cash leave my hand rather than swiping a card.

XplatinumXpixeyX's picture
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I don't like to carry cash anymore because I'm super paranoid it's going to get lost or Stolen.

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"XplatinumXpixeyX" wrote:

I don't like to carry cash anymore because I'm super paranoid it's going to get lost or Stolen.

We use cash for everything but gas and paying bills, but we leave it in a safe place at home and only take as much as we need (e.g. if we're going grocery shopping, we take about $150. I keep about $20/week in my wallet to spend on whatever. We use a debit card for gas. Online purchases go on the debit card (Visa) and are deducted from the next week's cash amount.

SoCaliLover's picture
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Wow you guys are awesome! I am the exact opposite -- I NEVER have cash. I tend to carry cash in my pocket if I have it so it gets washed or put random places (I am really disorganized) and since I never have cash, I use my debit card for everything --that way also I can keep track of expenditures. DH hates when I use my card for a 1.59 coffee! Smile

I also worry about using cash cause if I go to the grocery and miss add things, what happens if I don't have enough?

FLSunshineMom's picture
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We are cash people here. Once in a blue moon we might use the debit card for something. I always feel like I'll spend less if I see the cold, hard cash in my hand vs. swiping a card.

Besides, if a store's computer system goes down and the debit card machines don't work, I don't have to worry about it Smile

I have to admit, though, I've thought about depositing the money and using my debit card because it IS more convenient (and quicker, in most cases)... but... I probably won't.

FLSunshineMom's picture
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Oh, PS: I carry the cash in my purse.

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I used to pay for everything with debit card, but it didn't work for me. I would find it easy to pull out the card and buy things I didn't need, just because it was so easy. We also found that we would overdraft our checking account because I would charge things and DH would charge things, and they didn't always get written down quickly. The more things we charge, the more likely we are to make mistakes. Also, it's really hard to keep in a budget using a debit card, especially with two people spending the money. With the cash system, we leave the cash at the house and only take what we need. .

I don't worry about missing a sale because if I don't need it, I don't buy it. And it will always go on sale again I almost always have some cash left over at the end of the month. On the rare occasion that there's something we really need and don't have money left, we have been known to use our debit card and deduct the amount from the following week. We try not to do that very often.

Dixiemom1st's picture
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We mostly use our debit card but are very good at staying on budget. I carry a bit of spending cash but only $20a week. We do have a credit card that is used for online purchases but it gets paid off each month and we stay in budget. Debit visa cards are not readily available here in Canada yet, so a credit card is needed for online, hotels etc.

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I'm not one to regularly carry cash, but I don't buy much outside of our regular stuff each week. I use a debit card for most things, but I'm considering using the cash method for some of my weekly stuff. I have decided to budget $100 a week for groceries and it would be nice to have whatever is left over (which usually isn't much) to put in it's own little envelope for a rainy day fund, or to use at Christmas, or even to use if I find a really good deal on meat to stock up on or something. I just always forget to take out the cash!