Do you still carry cash ?

Some people act like this is rocket science or some complex derivative financial scheme.

Get a card with no fees, offers rewards, and pay your full balance monthly. It is quite simple.

 

I carry a little emergency cash. I had my credit card skimmed at a gas pump a while back. So now I use Apple Pay at any place that will take it.

 

I carry a little cash. Usually $20 or less. Other than that, I use my credit card for rewards and pay it in FULL every month. On another note, I DON'T use my debit card. If my debit card is ever compromised, that's cash out of my account. I use a credit card not tied to my checking or savings for added security. If my credit card is ever compromised, it's not my money and the bank will not hold it against me while a charge is in question.

 

Wow, I just threw away an Amex Platinum offer yesterday. I didn't realize they had all these perks. I might have to re-evaluate my cc strategy!

 

I just found an Amex Platinum in the trash the other day! I wonder whose it was.....

*runs up giant bill*

 

Cash for most things in person. Especially since businesses started adding in the cc surcharges. All monthly bills on cc and paid off monthly. Love the comment on page one about cash for things you don't want a paper trial involved in

 

rarely...everything goes on debit card or CC for miles and paid off every month.

 

Check out Goldback.com. The site will explain everything.

 

Thanks Black Wolf, I will check them out. I know I can make my wife mad, telling her I bought 10K in gold paper. LOL. She says that is my hobby, making her mad buying stuff. She is frugal.

 

Except...it's not paper. Gold infused plastic polymer that's near indestructible.

 

They will make you unholster that 3.5 ounce tube of toothpaste though.

 

Yet to check the site out because I'd rather ask. Is it more valuable than the cash you spent to buy it? I could see buying 10k worth of gold paper if it ends up worth being more. If it's not an increase in value than what's the point of trading cash for gold paper?

 

There's no point, investment-wise. It happens that it's gone up, because it's meant to be tied to the value of gold, and gold's gone up. The idea is, taking our currency back to "gold standard". But I'll never "invest" in gold funds either... instead, buy the actual gold. Then you needn't worry or bicker about which corrupt broker or politician is holding how much actual gold on your behalf.

 

Yep

 

Not paper. Gold infused polymer. The site explains everything in detail. They are a non fiat local "currency" unlike the dollar. Goldbacks can be used in the states that authorized them to be used as an alternate method of buying things when the dollar becomes weak or worthless for example. Many businesses take them now. You buy them based on the current daily Goldback exchange rate which has gone up since they were introduced in 2019. They are a hedge if bad times hit such as a severe recession. The web site is a must read before buying them. Due diligence. If I buy one Goldback today for $3.75, it's worth $3.75 today. It could trade tomorrow for $4.00 or $3.70. Mine have gone up 65 cents per one Goldback purchased initially at $3.46. Not bad.

 

There is a point. A hedge. Goldbacks are actual GOLD. Not a currency backed by gold, but actual gold based against the US gold Eagle value. smh. You are buying actual gold infused in a polymer. Some nameless entity isn't holding my gold somewhere in a vault. It's in my hand. That's the whole point. They are to be used as a hedge currency in tough times in the states where they are accepted. They can be traded like any other commodity anywhere, worldwide. Goldback.com is a wealth of information.
https://www.goldback.com/exchange-rate



On Goldback.com
"There are thousands of businesses that will accept the Goldback as payment for goods and services. Most local currencies are pegged to the U.S paper dollar in some way. The Goldback, however, is pegged to the gold dollar. Yes, gold dollars actually exist. The U.S Treasury has produced millions of legal tender, one-ounce gold coins with a $50 stamped face value. So one fiftieth of such a coin equals one gold dollar. The gold content of a Goldback is pegged to this form of legal tender.

All Goldbacks may be redeemed for $50 in U.S. Minted Gold Eagles or Buffaloes via our partners at Alpine Gold. This can be done in increments of 1,000 Goldbacks for a one-ounce coin. We don’t recommend doing this since Goldbacks carry a higher value. This is a guarantee in large part because we don’t want people to feel like they ever need to recover the gold by melting the Goldbacks down. We also believe that this guarantee neatly classifies all Goldbacks as Specie Legal Tender Instruments."

 

I usually carry a couple hundred cash but use credit cards for most purchases. I never tip on the credit card though, I always leave them cash.

 

Nope

Goldback Purchasing Power
"In terms of purchasing power, how does the Goldback stack up against other currencies? Since its initial introduction in 2019, the Goldback has seen a ~65% rise in its average paper dollar exchange rate. Gold’s dollar purchasing power during this period had a ~30% rise. Most paper currencies have lost value due to inflation over this same period."

 

Thanks for the insight @Black Wolf I'll dig deeper for my own thoughts on these.

 

You are welcome. Goldbacks are simply a means of acquiring smaller amounts gold. Fractional gold. Without breaking the bank. It's also a currency. Goldback popularity has soared over the last 4 years. My regular supplier sells out quickly when they post up Goldbacks on their site. There seems to be some confusion on what exactly a Goldback is and it's purpose. I'd rather have actual real gold notes in my wallet than worthless paper if hard times hit.

 

I was surprised at the initial pushback. Something new needs to be researched and not speculated on. What truly baffles me is the lack of concern by several here when torquing down something to within a known spec. Good enough doesn't exist in my line of work. I could get in a lot of trouble. Now, where's my cash.....ha

 

I made up my mind a long time ago to try and pay cash for EVERYTHING. I DONT consider my debt card a credit card and sometimes I have to use it but that reminds me to get more cash out.

I always stash cash in my vehicles too
At least $50 but with gas prices $100
It works until my wife uses any vehicle of mine and I can be assured she taps into it.
It makes me feel good for her but keeps me finding different places to keep cash in the vehicle for EMERGENCIES

cash will always be King

the TSA will always rob you of your pocket knife

 

it’s very telling of our society, our educational system and the care factor of parents that young adults can’t count. When you use cash you had better second check your change
It’s sad

 

I always carry a decent amount of cash. Especially because many places are charging the “non-existent” inflation credit card fee’s.

However I do use my credit card often as well, but only when it’s the same price. My rewards card is great. The key is to pay it off monthly…otherwise they become your worst enemy.

 

I like try to travel light as possible, I use a small minimalist wallet to reduce the size since I carry other stuff, like a knife, P365X and a sometimes a multi tool. When I have cash, I only keep a $20 bill. Very rarely use cash, maybe just for parking.

 

Most people dont get that because they cant pay the balance each month. I cringe at the interest rate some of these cards charge, even with good credit.

 

i felt silly for not having a clue either.