I don't even have a cheque book anymore and they don't have them here in Russia, it's an antiquated ( expensive for the banks ) system which the banks are trying to get rid of, but in the UK there was an outcry from pensioners when they said they would stop issuing them. The next stage evidently is too get rid of cash of course.
I knew that feeling when I worked in Ghana. When I first got to the country, I changed £30 and awaited my notes. The exchange rate was about 17,600 cedis to the pound, so I ended up with around 530,000 cedis. Most of the notes were quite small denominations, so I had a wad of money so thick that I couldn't get it into my pocket and had to put it in my bag. I felt like a drug dealer carrying that amount around. Something I did later in my stay was to make sure that I changed £60. That way, I had over a million cedis. It's the only time in my life that I can truthfully say I was a millionaire. Ghana knocked some zeroes off its currency a few years after this, so you can't do it now, well, not unless you really have got a lot of money.
I usually keep $200 hid in a side pocket of my purse. I know that's not smart in case of a purse grabber but I like to always know I have enough $ for gas to get to my daughters and back if need be. Sometimes ATMs are down. I don't like to trust them too much. We don't keep a lot of money laying around the house but some.
Cheques are rarely used in the Uk these days they've been trying to phase them out for years. You can still pay a bill with them but you can't buy something over the counter with a cheque... I carry very little cash with me...just enough for a coffee..and parking mostly
My sisters always thought I had money but I didn't. My husband thinks I always have money but I don't. They don't ask me for any they just say 'Von, I know YOU have some money.' snickering. I just let them keep on thinking that. Seriously, I don't keep money in the house and I only have $20 bucks on me most of the time. That same $20 bucks may be in my purse for weeks before I spend it. Another thing is I always find a few bucks and some change in a coat or jacket pocket that I had forgotten about. My guess is I broke the $20 that I was carrying.
Checks are also rare here in the US. Most employers pay via direct deposit, and people use cash or debit/credit cards in stores and pay bills online. A few weeks ago at the grocery store I was behind someone in line who wrote a check, and it seemed odd. I first started getting paid via direct deposit way back in 1971 when I worked for a large corporation. After I left that job other employers paid via check until the 1980s when direct deposit became more common. Even social security and other federal benefits have been going to direct deposit for a long time. I remember in the late 70s my mother was with me in the car and I stopped at an ATM. She thought taking money from a machine was so strange.
I shop with a credit card online and in most stores but many small businesses won't take plastic because of the expense. I write checks to pay most of my bills.
I toss my loose change into a container & every few months take it to Coinstar machine. Usually adds up to $15 - $20 and I usually use it for lottery.
Arlene, that's an expensive way to change up your loose change...the coinstar machines here charge 10% ...it may not seem a lot on £15-£20 quid.. but I personally would rather keep all of my money and just deposit into my bank account..
@Holly Saunders here in US banks will not accept much loose change - $15 - $20 in mostly pennies & nickles (not quarters) would be out of the question. Bank will give person paper rolls & tell them to roll their own coins which is quite time consuming & dirty. Years ago niece/nephew would roll my coins but not anymore. I'd rather pay the 8% fee than roll & lug around 30 or 40 rolls of pennies. There's a Seinfeld episode where George takes a jar of loose change to a bank. The teller hands him paper rolls and he says "What do you want me to do - quit my job!?"
Just last month I took a coffee can full of coins to a bank and they sorted it in their coin counter. Total was $69.01. There was no fee.
Yeah, my bank has a coin sorter too, but not all of them do. One of our grocery stores has one too, but they take a cut. The bank doesn't.
@Sheldon Scott hmm. Interesting. A coin counter would certainly help vs a teller doing it at the counter with their fingers...holding up the line.