Cash On Hand - How Much Is Too Much?

Discussion in 'Money & Finances' started by Arlene Richards, Feb 19, 2016.

  1. Ken Anderson

    Ken Anderson Senior Staff
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    I hate to say it, but I almost never have more than a couple of dollars in cash. My debit cards are so much more convenient. Actually, I would have never thought that I'd be like that.
     
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  2. Karen McKenzie

    Karen McKenzie Veteran Member
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    I have ATM and credit card..but in an emergency I like cash.
     
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  3. Frank Sanoica

    Frank Sanoica Supreme Member
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    Taking a "cut" is Un-American, IMO. Remember when U.S. Postage stamps were treated the same as currency? A stamp was considered "money", just as were dollars. Today, stamps are the same as scrip, valued at face when bought with "real" money, then later not returnable to the issuer for exchange into "real money".

    A travesty typical of today's governmentally-controlled economic environment.

    Some experts have said that removal of "hard backing" of paper currency was the single-most damaging move employed in American economy.
     
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  4. Ken Anderson

    Ken Anderson Senior Staff
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    Coin counters are old technology. I first saw them in banks in the 1970a so it's always surprised me when banks didn't have them. Probably just because not a lot of people bring in a lot of pennies. We place all of our change in containers here for use during hard times.
     
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  5. Frank Sanoica

    Frank Sanoica Supreme Member
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    @Ken Anderson : Change saved in jars! Not a novel idea, if one congregates amongst "cheap" Bohemians, like we were! Practical concern makes heavy containers filled with coin difficult to move about, if necessary. But, when they still contained metal of intrinsic value, it made more sense to hoard them. After silver coinage ceased being minted, plenty of silver coin remained in general use for a few years. In 1966, I got on a plane at home in Chicago, flew to Vegas, and working out of a motel room, went from casino to casino, "buying" rolls of dimes and quarters, then took them to my room, dumped them all out, picked out the "good" ones, then took the loose non-silver coin back to the "cage", where they issued currency for them. Casinos in them days had "change booths" all over the place, where more rolls were bought, process repeated. I got on the return flight lugging an extremely heavy .50 caliber US GI steel ammo box, barely able to carry it. No one even bothered to pay any attention! I hoarded the stash for a number of years, sold the coins for several times "face" value. An active market remains for silver coins to this day. Frank
     
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  6. Sheldon Scott

    Sheldon Scott Supreme Member
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    The bank I use doesn't have one but the bank down the street did so I took them there.
     
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  7. Chris Ladewig

    Chris Ladewig Veteran Member
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    I had my purse stolen, now I rarely carry more than five dollars.
     
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  8. K E Gordon

    K E Gordon Veteran Member
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    I don't usually carry much cash. I pay for things with a debit card. I don't have much cash at home, unless my boarder has just paid his rent, since he pays me in cash. I feel pretty safe here..but I wouldn't want to keep more than 500 dollars around. I think that would just make me nervous. We all have an amount we could keep around and not feel uncomfortable.
     
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  9. Ken Anderson

    Ken Anderson Senior Staff
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    At most, I carry maybe ten dollars or twenty dollars with me. More often, I don't have any cash.
     
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  10. Kitty Carmel

    Kitty Carmel Veteran Member
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    I probably carry too much cash. I pay cash for everything regarding regular shopping. I don't have a debit card.

    I get rid of my excess change by using it at the self ceck out at the grocery stores. Usually Winco Foods on a week day (if not at the beginning of the month) isn't too crowded so I can take my time. Last time I used up six dollars worth of change.
     
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