35 Comments

1. Dug some travel accessories out from my bureau this morning — a bra wallet and the pair of socks with zipper pockets . Then made a special trip to the bank today to withdraw cash. I’ve given these items to my daughter and several of her friends too as gifts so they don’t need to worry about a purse when they go out.

   1. Is there still such an item as socks with zipper pockets. Would love to give them as Christmas gifts. Another way to explain the importance of cash and carrying it around safely.

2. I use cash whenever possible for privacy protection. Have been doing so for years.
   Cash is sometimes vilified in subtle ways. sometimes attempts are made to punish people who use it.
   Example: A person who has a ZERO credit score, (No History).
   This person has always paid cash for everything, including houses. Never had a mortgage, insurance, car loan etc. They are now being asked to obtain standard house insurance by a private lender. Prior private lenders have confirmed that payments have always been made as agreed.
   Insurance company is quoting a ridiculous premium because of no credit history.
   People like myself are helping to find a solution.
   My take is that someone like this knows how to budget.

   1. Love to hear more about any solutions you care to share.

      1. Maybe it is time to consider establishing the same type of community based support arrangement similar to “Medi-Share” in the other insurance markets such as home & life. Is anyone aware of that being done already?

3. I want to encourage small businesses to go all cash/checks. We have been in business for 25 years and have never accepted credit cards. Many years ago we tried to set up an account through our local bank, but they ‘out sourced’ to a company that was so difficult to deal with, we didn’t follow through.

   I initially we waited to receive funds before the product was shipped. Over the years our instincts have developed so I’m pretty good at determining if a customer is trustworthy. Now, if the sale is for parts under a few thousand dollars, we ship to most anyone. For larger sales, I’m selective and will wait for a check for most new customers. Over the 25 years, I think we have only had 3 or 4 bad checks. All but one were made good with great apology. The one bad check years ago, was from a “trusted” customer. We decided to write it off, even though it was a relatively large amount for us at that time. He went out of business shortly after, so our decision was the right one. We don’t do payment plans for customers. We pay almost all of our bills with checks, or ‘bill pay’ through our checking account. We started small enough and grew by financing our business through profits and fortunately were able to live from other resources while we got started. It was easier because we did not have a mortgage. It can be done and was the way many of our parents or grandparents started out. Parents “helped” their children with gifts or “loans” when the children were getting started on their own instead of leaving an inheritance.

   The big advantage with running a business this way is it is easier to ‘end up’ debt free.

   1. Another reason to go this way is you operate always trying to do business with people of integrity. Many additional benefits.

4. I always use cash since the Covid early days: the matrix can’t track me (and one thing I have learnt is also to move and shop without a mobile phone in my pocket – it has become a fixed device assigned to a fixed place). Except for utilities bills – which must be paid by transfer – everything else is paid for in cash only. So right after pay day, the bank account is emptied except for those predictable amounts I have to pay through e-banking. And it is a real pleasure to perform a monthly bank run: no more card payments also mean total control on your expenditure, but also more savings, which of course remain in cash and outside the system. And regularly, accumulated savings are turned into the ultimate form of value-preserved cash: precious metals in the smallest possible denominations.

   1. To empty the bank account after payday is very smart my friend.

      1. Two complete opposite stories in the past few days in Switzerland:
         – Xmas market in Zurich forbids the use of cash; if any vendor takes cash, they would be fined 500 francs!
         – The chimney sweep came and asked if I would pay with a bill (transfer) or cash. Of course cash, and this gave me a 8% discount on the bill!

         1. Wow!

5. I always use cash when possible, although not usually with online purchases (primarily Amazon, as they are the only source for certain items I need). However, there are a few that can take checks… All my groceries are bought with green $USD (despite the need for armored car :-), when I shop at Walmart, it’s with cash, unless ordered online (seldom), I pay electricity, propane, and formerly telephone with personal check. Telephone is now different due to changes in the local service, and I have to buy telephone (Internet phone) and Internet (Starlink; the only way I can get service) via direct-pay (bummer!). I often pay cash for automobile gasoline. I’ve done this for several years: I don’t know what else I can do.

   1. Good for you. You can always encourage others to do the same – and give the speech to people and stores that refuse cash!

      1. Actually, I don’t know of a brick&mortar store that doesn’t take cash; if I remember correctly, here in NC I believe there is a legal requirement to accept cash if the store accepts other payments, on-site, etc.
         I guess I didn’t mention before that I have 3 banking accounts, but I keep a base deposit in each, then pull out anything over that, so that I don’t leave the money in the bank (as I once did, years ago). That’s where the cash comes from to do the shopping! The SS payments (so named for the German organization of the 1930s and 1940S, I think) I extract entirely in cash each month, then try to donate some to worthy causes as appropriate.

6. Count me in! I’ve been using cash more and more – it’s a great feeling. I also live near a Mennonite community where I buy a lot of my produce and they only take cash (or precious metals) and it’s just the best feeling to transact that way. Cash is King! Long live Cash! : )

7. I am in as well! I’ve actually been using it for a couple of weeks already. I bought silver bullion with my COVID stimulus and bought even more just pre-covid when is was $18/oz. At $50/oz it is a lifesaver right about now and I traded it for cash, which I use for just about everything. I spend a lot less because if I’m going to deplete the cash, I’d better really need it, whatever I’m purchasing.

Comments are closed.