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How many of you still regularly carry/use cash?
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We were the last generation that grew up in a time where cash and checks were the norm. I personally still use cash probably 65% of the time and the rest is credit cards (which I only really use to take advantage of cash back & rewards). I only use checks to pay some bills.
I know plenty of people that don’t use cash or checks at all anymore. Everything is either cards or digital cash apps. I just wanted to see what the breakdown was and if anyone has opinions on why they go one way or the other.
(Just as a point of reference, I just turned 40.)
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Does cash just not exist to anyone else anymore? It basically means nothing to me.
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Like, if I have 100 euros in my account, I feel like I have 100 euros, but if you gave me 100 euros cash, I'd forget about it until I open my wallet.
I was just thinking about it.
Top Comment: Using cash is often recommended as one of the best ways to save money, as handing over something physical tends to have more meaning to the brain. I've found it works for me.
Where do people with lots of cash keep their money?
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Curious where people with six figures or more liquid tend to keep it. Do they just keep using HYSAs? Or are there better/more efficient ways to not lose money and ensure it stays liquid?
Top Comment: HYSA here. Have about $80k in there. Keep enough in checking to cover monthly expenses. Idk if there’s better but that’s what I do. Capital One specifically.
Is cash.to still a good option?
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I’ve been bouncing my downpayment nest egg back and forth between HISA’s for a couple years now for the promo rates but I’m getting tired of the hassle. (I know I would have been better served by a GIC in that timeframe but I could have bought at anytime so it wasn’t an option for me.)
I don’t really see people talk about cash.to much anymore like they used to, is it still just as good as most HISA rates for returns / just as safe?
Top Comment: I'm doing CBIL.TO, slightly better than Cash.to, but less mainstream. Last time I check it was 2.5 vs 2.6. but I want those cents lol
Is anyone else mostly cash right now? What’s your play?
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I liquidated everything several weeks ago except for a gold ETF. I am sitting on mostly cash right now and I am starting to feel the opportunity loss as it creeps towards 5%.
Is anyone else mostly cash right now? Has the market gained some sort of immunity to Trump? I really want to buy in but absolutely cannot outside of any sort of correction.
(Edit: 2 weeks ago my portfolio was ATH and the 5% opportunity cost is really nothing in comparison to the realized gains. I feel like there is a lot culminating in the world and I am “betting” on another dip soon and hope to get a free year or two worth of gains when I buy back in.)
Top Comment: Nah, my strategy is buy and hold. My stocks & ETF portfolio dropped 128k between February 18 - April 4. It was a gut punch, but I held through it and continued to dca per plan. My portfolio closed at an ATH on Friday. I have cash in money market funds, checking account, cash, etc, but I am absolutely staying in the market, rising and falling with the tide.
A discussion on cash
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Hey everyone,
I’ve noticed that most people around me seem to pay for everything using cards or mobile payments these days, and I was curious—do people still use cash regularly? Do you personally prefer cash, or do you find it inconvenient with all the digital options available now?
Also, do you think there are specific situations where using cash is still better or even necessary? I’d love to hear your thoughts!
Thanks!
Top Comment: Here are some reasons why it’s still important to keep cash around: Privacy: Cash transactions are anonymous, protecting your privacy by not leaving a digital trail. Emergencies: In case of power outages, system failures, or if card networks go down, cash can be a reliable backup. Budgeting: Some people find it easier to stick to a budget when using cash because it’s more tangible—once it’s gone, it’s gone. Small/local businesses: Many small businesses prefer cash to avoid transaction fees that come with card payments. No reliance on technology: Cash doesn’t depend on a working phone, card, or payment app, making it convenient in situations where technology is unavailable. Tipping: In some situations, tipping in cash is appreciated more, as it can go directly to the person rather than through a digital system. Keeping cash provides flexibility and security in an increasingly digital world.
Why do so few people use cash?
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Not sure if this really would qualify as “economics,” so feel free to suggest another forum.
Very curious why so few people use cash. Credit card points are essentially at the expense of the poor. Visa and Mastercard have become so ubiquitous their fee is like a tax on everything. Your data gets sold all over the place. I really don’t understand the appeal of widespread card, or Apple Pay, now. All of this is worth a very very slight convenience?
EDIT: wow! Didn’t expect this to be approved to quickly, thank you mods! A few clarifying points below:
- Yes, this is a very US centric post (apologies to any non-US posters).
- I feel like a lot of answers are missing some points in my post. Yes, you get credit card points. They are at the expense of poor people. It’s actually a fairly large wealth transfer from the poor to the wealthy. I think that’s kind of gross. So my question is, why are so many OK with this? Ignorance? Simply not caring about the poor? Answers along those lines I think would be preferable to “points.”
- People saying the merchant pays the fees. Yes, I’m also aware. However, look at all the tariff talk now. In theory, the merchant would pay those “fees,” but they’ll likely be passed on the consumer. This is likely what’s happening with credit cards, no? And are you OK with a tariff this size in everyone to simply use a piece of plastic? And moreover, a tariffs that has not been voted for in any shape or form?
- Robbery. Is this a big issue for that many people in the U.S.? I’ve never been robbed (knock on wood), and I’ve lived in cities my entire life. Sure, it’s a worry, but an incredibly minor one for me.
- Fraud protection. Good point. I think this is the sort of answer that makes the most sense to me.
Thanks for all the answers so far!!!
Top Comment: Certainly in the US, credit cards and things like cashback are a big topic, but that doesn't have to be universal, lots of countries have low rates of cash use, people mostly pay via debit and consumer protection laws are strong. But of course it's about cost. There's a time cost to getting cash for consumers, there's risk to carrying it around, there's a cost to manage cash for businesses. It's cheaper and more convenient to pay by card so that's what people do.
Why do people still use cash when almost everything can be paid for digitally?
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Same at title
Top Comment: anonymous
Can someone explain CASH.TO to me?
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There are many recommendations to put money into CASH.TO on this sub as it’s a fairly safe investment.
I put $8k in last month and checked it today and it’s sitting at $7996.80.
Why did it go down instead of up?
Looking at the graph I see it goes up and down each month hovering around the $50 per share mark.
Is my current $7996.80 due to the timing when I purchased the shares? I assume over the month it should grow past the original $8k amount correct?
Top Comment: It goes like Share starts at $50 Goes up over a month as it accumulates interest until it ends at $50 + $X Pays out $X as a distribution and drops back to $50 in a cycle. So if you have DRIP (dividend/distribution reinvestment) on, the value should go up over time. If not it's probably in an available balance somewhere.