Reasons to Carry Cash
Most people will argue and say that you should never carry cash. While they do have a lot of valid points — uncontrollable spending, losing your wallet, getting robbed, etc — I think that it is very wise to always have a little bit of cash on you.
The Rules
Before you start carrying cash we need to set a few rules:
- Only carry small amounts - I recommend no less than $20 and no more than $50.
- Hide it (from yourself) - “Hide” your cash in a safe place — in your car, or tucked into a hidden pocket in your purse or bag for example — put it in a envelope if you have the room.
- Keep track of your spending - Create a “register” on the back of your envelope and record all of your transactions.
Why Carry Cash?
There are several good reasons to carry cash on you. I’m sure that you have encountered some of these yourself.
- ATM/Credit card problems - Have you ever needed gas, but when you swipe your card it gets declined for no apparent reason? Or, have you ever been in a store and get to the checkout only to see a sign that says “We are sorry, our credit card machine is broken”? I have. It sucks. Cash is your best friend in these situations.
- Mom and pop stores - Small, “hole-in-the-wall” stores and some bigger, but outdated stores still lack the ability to process credit and debit cards.
- Restaurants and fast food - Some restaurants and fast food places do not take plastic. Even if they do, you may still need cash to tip your server.
- Unexpected trips - You may find yourself traveling and unexpectedly come upon a toll road. Or, heaven forbid, you get a phone call and must rush to the hospital. You will need a way to pay for parking, drinks, etc.
- Vending machines and other small purchases - While I am sure they exist, I have never seen a vending machine that takes credit cards. You should also use cash on small purchases such as those at convenience stores and gas stations.
- Roadside repairs - Cash is a great bargaining tool if you get a flat tire, break a belt, or have some other car-catastrophe while on the road. Not to mention that a lot of roadside repair services do not take credit cards.
- Buying stuff from individuals - Use cash to buy that $20 baseball card from your buddy that you know you can sell on Ebay for $100.
These are only a few examples of good reasons that you should always have some cash. If you have any more good ideas leave them in the comments!
