Is cash on the way out?

Jules said:
An online poster commented that he couldn’t get enough cash from his local bank for a large purchase he was making . He had the money in his account; the bank had almost run out of cash on a Friday afternoon. It was suggested he go to a neighbouring branch where they were going to be low on cash but they gave him the money.

He also commented that the ATM lineups were longer than usual.

Are people hoarding cash?
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I do. Even have a large old apple cider jar with nothing but folded up dollar bills, quarters, dimes and nickels.
 

Aunt Bea said:
I’m pretty sure that the average troglodyte has at least one credit card. 😉🤭😂

Some reports say that 17-18% of adults don’t choose to have or don’t qualify for a major credit card and approx. 23% of adults are debt free.
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I have a neighbor who doesn't have a credit and also debt free.
 
That Lady in PA said:
So, no sporting events, no concerts, no theater? Do you rent cars and reserve hotel rooms with cash?

I cannot imagine life without CCs, and I am debt free :)
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I have no interest in none of those things. I do use my debit card mostly for online shopping, but credit cards only about $5-$20 every few months so they won't bother me to use them.
 
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Pinky said:
There's a burger place in east Toronto, that takes only cash. They have a cash machine right in the store. It's a very popular place .. and, the burgers are good.
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Same with my favorite diner and most dinners are around $15-$18. I know quite a few places that only take cash.
 
Home and auto insurance companies in Texas check credit reports at each renewal, and rates are based in part on credit scores. To maintain a good score, some credit history is needed. Also, I may want (or need) to buy another car later on and I will need active credit and a good score if I choose to finance the car.

There are other things. Someday I may have car trouble traveling. I can't anticipate in advance the cost in order to carry enough cash for car trouble, but my credit card will take care of it. Also, I belong to AAA road service. They might take cash for road service I don't know, but I'm certain they will accept my credit card.

I'm not big on ordering online, but even the few times I do, it requires a credit card.

A loan officer at my bank, who is also a friend of sorts (acquaintance) told me it's better to pay with a credit card than a debit card for ease in getting bogus charges removed and not having my bank account compromised. Consequently, I only use my debit card for cash withdrawals at ATM machines.

When I was in my twenties I was very careless and got over-extended, lost my cards, had to pay for everything in cash. It was a hard road to rebuild my credit. I learned from that and never made that mistake again.
 
MACKTEXAS said:
Home and auto insurance companies in Texas check credit reports at each renewal, and rates are based in part on credit scores. To maintain a good score, some credit history is needed. Also, I may want (or need) to buy another car later on and I will need active credit and a good score if I choose to finance the car.

There are other things. Someday I may have car trouble traveling. I can't anticipate in advance the cost in order to carry enough cash for car trouble, but my credit card will take care of it. Also, I belong to AAA road service. They might take cash for road service I don't know, but I'm certain they will accept my credit card.

I'm not big on ordering online, but even the few times I do, it requires a credit card.

A loan officer at my bank, who is also a friend of sorts (acquaintance) told me it's better to pay with a credit card than a debit card for ease in getting bogus charges removed and not having my bank account compromised. Consequently, I only use my debit card for cash withdrawals at ATM machines.

When I was in my twenties I was very careless and got over-extended, lost my cards, had to pay for everything in cash. It was a hard road to rebuild my credit. I learned from that and never made that mistake again.
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I ruined my credit during the 2008 financial crisis when I lost everything. It's taken awhile to get back to around 700 credit score. I do have credit cards but seldomly use them and only for important things and emergencies. I believe in carrying cash. Like during the black out in the Midwest and East Coast a few years ago that lasted a few days. I was able to walk in the local grocery store and pay cash. They just put the money in a cigar box.
 
Oldeagle66 said:
I do have credit cards but seldomly use them and only for important things and emergencies. I believe in carrying cash.
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Yes, I carry cash too. Just so you know, my post wasn't meant to go against you for carrying cash. You mentioned gold in your post 143. I have zero gold (other than what's in a couple of rings I sometimes wear). There is some gold jewelry in my safe deposit box that belonged to my wife. It's there for sentimental reasons, not for it's monetary value - at least not for me, but I'm sure that when I croak, my cousin will quickly convert it to cash.
 

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