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Do you want to keep cash or store it into your bank account? email this discussion to a friend?

myLot reputation of 96/100. youless (10219)   ranked 6 out of 496 in money6 months ago

I don't want to carry a lot of cash with me. First, it's not safe. Second, it's easy to spend much more money. Third, cash isn't very clean in my opinion. When I need money, I prefer to go to the ATM to withdraw the cash and that's very convenient. And since the credit card is very common and popular to use, so I don't want to have more cash with me.

 
 
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marababe (1685) response was accepted on 5/18/2008.
denotes best response.
tags:  cash, bank, money, atm, credit card
 
1. myLot reputation of 84/100. marciascott (9796)   ranked 35 out of 496 in money   6 months ago

Yes I want to keep a little cash, I have credit cards 6 and I have 2 Bank Accounts. I like to have money everywhere.


myLot reputation of 96/100. youless (10219)   ranked 6 out of 496 in money  6 months ago

Thanks for your response.

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2. myLot reputation of 85/100. kbourgerie (1696)   ranked 81 out of 496 in money   6 months ago

I am bad about carrying my cash with me, because I get paid on a card instead of direct deposit or check. I get charged everytime I make a withdrawal, so I take it out all at once. So often times, I'm carrying around a few hundred dollars in my purse. Bad habit, I suppose. One of these days, I'll get around to opening an account. Just seems like I never have the time. I'm at work during banking hours. And on my day off, don't want to leave home.


myLot reputation of 96/100. youless (10219)   ranked 6 out of 496 in money  6 months ago

Fortunately here the banks still work on Saturday and Sunday.

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3. myLot reputation of 100/100. faith210 (6839)   ranked 28 out of 496 in money   6 months ago

Hi youless! I don't carry a lot of cash either precisely because of the same reasons that you have. I usually have it in the bank and if ever I need some cash, i just withdraw at the ATM too. I am not being tempted easily on buying things when I don't have cash because I really don't like using the credit card unless I really need to. Take care and God bless! happy mylotting! happy


myLot reputation of 96/100. youless (10219)   ranked 6 out of 496 in money  6 months ago

Since the ATM machines are available here and there, so I don't really have to carry a lot of cash.

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4. myLot reputation of 97/100. book1962 (9827)   ranked 137 out of 496 in money   6 months ago

I only take with me what I really do need when it comes to cash. Like you I am not too happy with carrying a full wallet. But I dont use a credit card either, I have given up on it as it costs additional money each year.


myLot reputation of 96/100. youless (10219)   ranked 6 out of 496 in money  6 months ago

It seems that credit card will make people buy more things.

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5. myLot reputation of 98/100. aseretdd (4159)   ranked 68 out of 496 in money   6 months ago

I prefer to keep my money in the bank... and just hold on to a few... just for my allowance... and if ever i need to pay bills or buy groceries... i use my credit card... i usually only withdraw when i need to pay my credit card... that way i am not tempted to spend money on anything... i don't really like having a lot of cash with me...


myLot reputation of 96/100. youless (10219)   ranked 6 out of 496 in money  6 months ago

I also think that we will spend less money when we are short in cashwink


myLot reputation of 80/100. tigertang (1485)   ranked 350 out of 496 in money  4 months ago

It's not actually very safe to carry that much money around with you. Even if you don't run the risk of getting robbed, you also face the risk of misplacing your wallet and once you lose cash, it's gone.

Personally, I think it is important to have a bank account, unless you are an illegal immigrant. Allot of transactions require you to have a bank account and these days, people are very supicious of too much cash, thanks to anti-money laundering laws.

The other reason for having a bank accont is the fact that you can earn interest and get your money to work for you. I know most bank accounts pay a pathetic rate of interest (4% range in the US, UK and EU and a miserable 0.25% in Singapore) but its still better than not having any interest on your money at all. The key to increasing your money is to have it compound and the first place where you can get your money to compound is in a basic savings account.

Personally, I would try to avoid having credit cards because banks use them to get you to borrow money from them at outrageous interest rates. But do keep a debit card for convenience sake.

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6. myLot reputation of 70/100. kamran12 (1810)   ranked 91 out of 496 in money   6 months ago

Hello youless!:-)

I, too, don't carry to much cash with me mainly because of same reasons as yours. Almost everything can be paid by my debit card. Plus, this way, I am out of worry not only from theft but also from accidentally dropping my notes or forgetting my wallet somewhere, where someone would rob me off without any effort. happy

But, I do keep some cash though, because the cards are not accepted below a certain amount of purchase. For example, at some places, debit card is only accepted if I make a purchase of more than 5 or 10 or 15 Euros!

I don't use Credit cards either, because I have experienced that I tend to spend more with credit card than I would normally do without it, which isn't quite good, for me at least!:-)


myLot reputation of 96/100. youless (10219)   ranked 6 out of 496 in money  6 months ago

Here if a shop can accept to use the debit card and credit card, then no matter how much the amount is, it will be acceptable. I like this way. When I traveled to Hong Kong, it's a little different. They accept to use cards when the amount is up to HKD100.


myLot reputation of 70/100. kamran12 (1810)   ranked 91 out of 496 in money  6 months ago

You are fortunate in that the cards are accepted no matter how much worth you purchase there. I would love to see this possibility here but I don't think it will be possible at least till the time I am here.

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7. myLot reputation of 100/100. suehan1 (1812)   ranked 139 out of 496 in money   6 months ago

i don't like to carry cash with me,i usually just have enough on me to last a few days.mostly i buy everything on eftpos,so it comes directly out of my account,so the cash i carry is just small change for the work car park etc.cheers sue


myLot reputation of 96/100. youless (10219)   ranked 6 out of 496 in money  6 months ago

Thanks for your response.

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8. myLot reputation of 92/100. moondan (496)   ranked 138 out of 496 in money   6 months ago

I don't want to hold many cash im my pocket or wallet.

I think it is not safe.my memory is not very good .so losing things is common for me.i don't want to take so many ash around myself.Maybe one day i will lost them and i must regret and sad for a long time.

for another thing,there are many thives in the street especially in the busy street or on the crowded road.If we don't pay much attention to our bag,the money will lost within a short time.

Last but not the least,now there are so many automatic money get machines and banks in the citys.With one card,we can get our money from any bank,though it spends a few of tip.But safe is the most important.Taking enough money to eat,to buy what i plan to is ok.Most of the money i stroe it in my bank account.


myLot reputation of 96/100. youless (10219)   ranked 6 out of 496 in money  6 months ago

My wallet was stolen in the past. So after that I told myself I would never make such a mistake. When I am outside, I will keep alert.

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9. myLot reputation of 94/100. nini168 (1361)   ranked 141 out of 496 in money   6 months ago

When I was young, I have a time losed 100 yuan on the way to the supermarket. At that time, the number means half a month's expenses of my family. Because of this, my family have to suffer a hard time.

So now, I do not like take a lot of cash with me, for I am afriad I will lose them. As now, we can have a credit card or dibit card easily, and all of them can be used in many places like supermarkets, big stores and so on. So I can take a card instead of cash. if there are some place only accept cash, I can draw money from the ATM. It is so convinient.

But with a card, I lose my sense of money and send more than I expected. So it aslo brings me a great problem, and not easy to solve.


myLot reputation of 96/100. youless (10219)   ranked 6 out of 496 in money  6 months ago

If you don't have credit card, the situation may get betterwink

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10. myLot reputation of 69/100. olisae (568)   ranked 211 out of 496 in money   6 months ago

well,I share your views as well,but the thing is that if the banks are not reaping me of then i think i subscribe to keeping the cash in the bank than handling cash.cheers.


myLot reputation of 96/100. youless (10219)   ranked 6 out of 496 in money  6 months ago

Thanks for your response.

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