Comments on: Thoughts on Going Cash Only- The Benefits and Drawbacks of Not Using Credit Cards http://www.thinkyourwaytowealth.com/2009/04/21/thoughts-on-going-cash-only-the-benefits-and-drawbacks-of-not-using-credit-cards/ Personal Finance Blog | Money Management | Money Saving Tips Tue, 06 Dec 2011 12:54:47 +0000 hourly 1 http://wordpress.org/?v=3.0.4 By: Nick http://www.thinkyourwaytowealth.com/2009/04/21/thoughts-on-going-cash-only-the-benefits-and-drawbacks-of-not-using-credit-cards/comment-page-1/#comment-3950 Nick Thu, 30 Jun 2011 14:46:31 +0000 http://www.thinkyourwaytowealth.com/?p=1875#comment-3950 What is with so many people worrying about cash being dirty? I lick my fingers everytime after I handle my cash, and I'm fine. It's tasty and I love it. Your toothbrush probably has more germs on it and you put that in your mouth every day. For those who aren't convinced, cash can be handled with latex gloves at first, then you can go home and run it through the washing machine, and then iron it before you handle it with bare skin, so now you wont get a dirty disease and die. What is with so many people worrying about cash being dirty? I lick my fingers everytime after I handle my cash, and I’m fine. It’s tasty and I love it. Your toothbrush probably has more germs on it and you put that in your mouth every day. For those who aren’t convinced, cash can be handled with latex gloves at first, then you can go home and run it through the washing machine, and then iron it before you handle it with bare skin, so now you wont get a dirty disease and die.

]]> By: Eddy http://www.thinkyourwaytowealth.com/2009/04/21/thoughts-on-going-cash-only-the-benefits-and-drawbacks-of-not-using-credit-cards/comment-page-1/#comment-2958 Eddy Tue, 15 Jun 2010 15:35:33 +0000 http://www.thinkyourwaytowealth.com/?p=1875#comment-2958 It is not impossible to book a flight or a hotel room without a debit card or credit card. I have worked the front desk at The Hilton for six years now, and I can tell you that to this day we have people come in without plastic. Checks can be used for any type of deposit or reserve for incidentals which is the reason the hotel requires the card in the first place. As far as airlines go you can provide your banking account number online to pay for your ticket like a transfer or just go to a vendor of airline tickets if you have the time. I have not had a credit card since I was in college and travel frequently. With the exception of getting a rental car with ease, I have never in my life been turned down for anything with anywhere I have ever traveled. The rental car biz has a lot of red tape and you usually have to find one that will accept cash or some other form of reserve. Talk to them, you may be surprised what they are wiling to work with you on. It is not impossible to book a flight or a hotel room without a debit card or credit card. I have worked the front desk at The Hilton for six years now, and I can tell you that to this day we have people come in without plastic. Checks can be used for any type of deposit or reserve for incidentals which is the reason the hotel requires the card in the first place. As far as airlines go you can provide your banking account number online to pay for your ticket like a transfer or just go to a vendor of airline tickets if you have the time. I have not had a credit card since I was in college and travel frequently. With the exception of getting a rental car with ease, I have never in my life been turned down for anything with anywhere I have ever traveled. The rental car biz has a lot of red tape and you usually have to find one that will accept cash or some other form of reserve. Talk to them, you may be surprised what they are wiling to work with you on.

]]> By: carl http://www.thinkyourwaytowealth.com/2009/04/21/thoughts-on-going-cash-only-the-benefits-and-drawbacks-of-not-using-credit-cards/comment-page-1/#comment-2371 carl Sat, 05 Dec 2009 09:06:30 +0000 http://www.thinkyourwaytowealth.com/?p=1875#comment-2371 i use cash for every thing its been around for over 5000 years and its not going no where ! i use cash for every thing its been around for over 5000 years and its not going no where !

]]> By: Moments of Fame : Funny about Money http://www.thinkyourwaytowealth.com/2009/04/21/thoughts-on-going-cash-only-the-benefits-and-drawbacks-of-not-using-credit-cards/comment-page-1/#comment-2093 Moments of Fame : Funny about Money Fri, 05 Jun 2009 11:47:36 +0000 http://www.thinkyourwaytowealth.com/?p=1875#comment-2093 [...] M’hijito, a WoW aficionado. Think Your Way to Wealth contemplates the pro’s and cons of cash-only spending, an interesting rumination. Monitor Bank Rates.com explains the difference between APR and APY, [...] [...] M’hijito, a WoW aficionado. Think Your Way to Wealth contemplates the pro’s and cons of cash-only spending, an interesting rumination. Monitor Bank Rates.com explains the difference between APR and APY, [...]

]]> By: Funny about Money http://www.thinkyourwaytowealth.com/2009/04/21/thoughts-on-going-cash-only-the-benefits-and-drawbacks-of-not-using-credit-cards/comment-page-1/#comment-2091 Funny about Money Fri, 05 Jun 2009 10:25:10 +0000 http://www.thinkyourwaytowealth.com/?p=1875#comment-2091 Actually, cash isn't accepted universally. You can't make a hotel or plane reservation without a credit or debit card. Yesterday a speaker on NPR remarked that in addition to getting rid of the cash and "points" kickbacks and charging everyone annual fees as strategies to zing customers in the aftermath of the new fair credit-card law, credit card issuers probably will start charging for paper statements. As soon as any of those things happen, my credit cards go. I guess I can use a debit card to buy gas and for the rare occasions that I travel. I dislike using cash, not only because it's filthy but because there's really no way of keeping close track of where it gets spent. On the other hand, the same NPR guest described in detail exactly how exploitive credit card lenders are...it's a nasty business that one really ought not to support in any way. Actually, cash isn’t accepted universally. You can’t make a hotel or plane reservation without a credit or debit card.

Yesterday a speaker on NPR remarked that in addition to getting rid of the cash and “points” kickbacks and charging everyone annual fees as strategies to zing customers in the aftermath of the new fair credit-card law, credit card issuers probably will start charging for paper statements. As soon as any of those things happen, my credit cards go. I guess I can use a debit card to buy gas and for the rare occasions that I travel.

I dislike using cash, not only because it’s filthy but because there’s really no way of keeping close track of where it gets spent. On the other hand, the same NPR guest described in detail exactly how exploitive credit card lenders are…it’s a nasty business that one really ought not to support in any way.

]]> By: Money Hacks Carnival #76 - The Land Down Under Edition | Man Vs. Debt http://www.thinkyourwaytowealth.com/2009/04/21/thoughts-on-going-cash-only-the-benefits-and-drawbacks-of-not-using-credit-cards/comment-page-1/#comment-2089 Money Hacks Carnival #76 - The Land Down Under Edition | Man Vs. Debt Wed, 03 Jun 2009 12:14:05 +0000 http://www.thinkyourwaytowealth.com/?p=1875#comment-2089 [...] presents Thoughts on Going Cash Only- The Benefits and Drawbacks of Not Using Credit Cards posted at Think Your Way to [...] [...] presents Thoughts on Going Cash Only- The Benefits and Drawbacks of Not Using Credit Cards posted at Think Your Way to [...]

]]> By: RC http://www.thinkyourwaytowealth.com/2009/04/21/thoughts-on-going-cash-only-the-benefits-and-drawbacks-of-not-using-credit-cards/comment-page-1/#comment-1928 RC Wed, 29 Apr 2009 01:18:18 +0000 http://www.thinkyourwaytowealth.com/?p=1875#comment-1928 @lulugal- Sorry for the delayed response- Although I have never worked at a bank, I do think about how dirty money is from time to time! I don't think I will be going cash only for a lot of things, but it does work pretty good for my "fun money". @lulugal- Sorry for the delayed response- Although I have never worked at a bank, I do think about how dirty money is from time to time! I don’t think I will be going cash only for a lot of things, but it does work pretty good for my “fun money”.

]]> By: Get out of Debt http://www.thinkyourwaytowealth.com/2009/04/21/thoughts-on-going-cash-only-the-benefits-and-drawbacks-of-not-using-credit-cards/comment-page-1/#comment-1920 Get out of Debt Mon, 27 Apr 2009 22:15:12 +0000 http://www.thinkyourwaytowealth.com/?p=1875#comment-1920 I agree with all the benefits you listed. Regarding drawbacks - for large purchases, instead of carrying cash, you can simply write a check. That way you arn't in danger of carrying around large wads. As for the earning rewards stuff - do people really earn that much from their credit card rewards? I'm pretty sure it's trivial amounts, and you have to spend tons to make it worth it i.e. spend money you haven't got. I make lots of purchases online using Paypal (usually out of small bits of online earnings writing articles etc, for which I am paid via Paypal). I've also got into the habit of saving earnings from doing surveys and taking them as Amazon vouchers at Christmas time - and then I do my Christmas shopping on Amazon in bulk. When I shop online I always go through those cashback sites (Quidco etc), which means I get something back on the purchase that I'm making with vouchers or Paypal money. There are endless ways of getting things without using the credit card if you are imaginative. I agree with all the benefits you listed.

Regarding drawbacks – for large purchases, instead of carrying cash, you can simply write a check. That way you arn’t in danger of carrying around large wads. As for the earning rewards stuff – do people really earn that much from their credit card rewards? I’m pretty sure it’s trivial amounts, and you have to spend tons to make it worth it i.e. spend money you haven’t got.

I make lots of purchases online using Paypal (usually out of small bits of online earnings writing articles etc, for which I am paid via Paypal). I’ve also got into the habit of saving earnings from doing surveys and taking them as Amazon vouchers at Christmas time – and then I do my Christmas shopping on Amazon in bulk. When I shop online I always go through those cashback sites (Quidco etc), which means I get something back on the purchase that I’m making with vouchers or Paypal money. There are endless ways of getting things without using the credit card if you are imaginative.

]]> By: RC http://www.thinkyourwaytowealth.com/2009/04/21/thoughts-on-going-cash-only-the-benefits-and-drawbacks-of-not-using-credit-cards/comment-page-1/#comment-1913 RC Sat, 25 Apr 2009 01:41:14 +0000 http://www.thinkyourwaytowealth.com/?p=1875#comment-1913 @Momma- I've done that quite a few times myself! In fact, I think I have actually done it more than not buying something, which kind of defeats the purpose. @Momma- I’ve done that quite a few times myself! In fact, I think I have actually done it more than not buying something, which kind of defeats the purpose.

]]> By: lulugal11 http://www.thinkyourwaytowealth.com/2009/04/21/thoughts-on-going-cash-only-the-benefits-and-drawbacks-of-not-using-credit-cards/comment-page-1/#comment-1911 lulugal11 Wed, 22 Apr 2009 16:12:33 +0000 http://www.thinkyourwaytowealth.com/?p=1875#comment-1911 I refuse to go cash only because of the reasons you mentioned above. I used to work at a bank as a teller and I abhor touching cash. Plus, I can get rewards for using my credit card so why not? I applaud your effort to go cash only....good luck. I refuse to go cash only because of the reasons you mentioned above. I used to work at a bank as a teller and I abhor touching cash.
Plus, I can get rewards for using my credit card so why not?

I applaud your effort to go cash only….good luck.

]]> By: Momma @ Momma's Blog http://www.thinkyourwaytowealth.com/2009/04/21/thoughts-on-going-cash-only-the-benefits-and-drawbacks-of-not-using-credit-cards/comment-page-1/#comment-1910 Momma @ Momma's Blog Wed, 22 Apr 2009 13:26:05 +0000 http://www.thinkyourwaytowealth.com/?p=1875#comment-1910 "It can limit your freedom with spending- If you only have $29 in cash left, and you need $30 to buy something, you are basically out of luck. Now that $1 may not hurt you in any way monetarily, but if you stick to the system, you will be unable to make the purchase." Actually, at my house it would be worse than this. We'd go ahead and spend the $30 from the debit card, and still have the $29 in cash. I suspect that happens to a lot of folks who try to go to a Cash Only method. “It can limit your freedom with spending- If you only have $29 in cash left, and you need $30 to buy something, you are basically out of luck. Now that $1 may not hurt you in any way monetarily, but if you stick to the system, you will be unable to make the purchase.”

Actually, at my house it would be worse than this. We’d go ahead and spend the $30 from the debit card, and still have the $29 in cash. I suspect that happens to a lot of folks who try to go to a Cash Only method.

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