6 ms·

The question is why are you using cash? Even my 82 year old dad is now using Apple Pay and both of my parents mostly use credit cards/debit cards. The only tim

The question is why are you using cash? Even my 82 year old dad is now using Apple Pay and both of my parents mostly use credit cards/debit cards. The only time I keep cash is for tipping, my wife and I travel a lot.

inetknght 2y ago
> The question is why are you using cash? I use cash because it contributes to the local neighborhood economy more than not using cash. I use cash because I do not want to risk a banking app being broken by a non-banking app. I use cash because I do not trust banking apps to keep to themselves instead of infecting the whole device with spyware to "verify who you are". I use cash because not using cash charges extra (often-hidden) fees while using cash often comes with extra discounts. I use cash because the modern economy is a give-business-money-for-nothing-because-fuck-you economy and I don't want to contribute to that. There are many reasons to use cash. Pick one or many but stop thinking that cash is worse than a tech solution.
- scarface_74 2y ago
  > I use cash because it contributes to the local neighborhood economy more than not using cash. The merchant gets all except for a 2% fee when you don’t use cash. Cash handling also has cost - theft both from employees and outside actors - too. > I use cash because I do not want to risk a banking app being broken by a non-banking app. When has Apple Pay or Google pay ever been “broken”? Do you not use a bank at all or not use any banking apps or websites? > I use cash because not using cash charges extra (often-hidden) fees while using cash often comes with extra discounts. There are very few places in the US that up charge for credit card transactions. Mostly gas stations and then mostly only for gas. > I use cash because the modern economy is a give-business-money-for-nothing-because-fuck-you economy and I don't want to contribute to that. You don’t think the merchant network does anything? Even if you are opposed to credit card transaction fees are you also opposed to debit transaction fees which are much lower and where there is a legsl cap?
  - coldpie 2y ago
    > There are very few places in the US that up charge for credit card transactions I actually see it quite often here in the Twin Cities at small stores, bars, restaurants. A 1~3% discount for cash. > The merchant gets all except for a 2% fee when you don’t use cash. Cash handling also has cost - theft both from employees and outside actors - too. I've asked quite a few merchants that take both whether they have a preference for cash vs card. Most (~90%) say they don't care either way. The remainder all say they prefer cash. I've never had one reply they prefer a card to cash. Also, when making large (like four- or five-figure) transactions with people like home contractors, they all request payment via personal check, to avoid the card fees eating a huge chunk of the transaction. I also dislike the idea of all transactions being trackable/identifiable. I think there's value in being able to perform anonymous transactions.
    - scarface_74 2y ago
      > I actually see it quite often here in the Twin Cities at small stores, bars, restaurants. A 1~3% discount for cash. For reference, I have a card that gives me 3 points back for all restaurants and another card that gives me 2 points back for all other purchases. Doing the simplest thing possible and transferring those points to Delta for flights nets me 1.3% for each point meaning I will at least get 2.6% back on general purchases or almost 4% back worse case on restaurants. If they have to accept cash or credit cards, yes they will prefer cash. But there are reasons that some places don’t accept cash at all. It’s because of employee theft. But it’s harder to steal cash at restaurants and bars because everyone gets receipts. The usual theft from bars come from bartenders pouring more expensive liquors and charging for cheaper liquor and then accepting larger tips.
      - marxisttemp 2y ago
        [flagged]
        scarface_74 2y ago
        https://www.nerdwallet.com/article/credit-cards/credit-cards-make-you-spend-more https://www.nerdwallet.com/article/credit-cards/credit-cards... People spend more money and tip higher when they use credit cards than cash….
- fragmede 2y ago
  it's way easier (for some people) to go to the ATM once a month and then have a physical pile of money you're using, ams physically see how much you're spending and adjust habits. A digital card that looks the same all month when you pull it out of your wallet has no such quality and is a basically scam on certain kinds of people to get them to spend more money.
  - scarface_74 2y ago
    When you use a debit card, the amount is immediately deducted from your checking account and you can check to see how much you have left by logging into your account.
    - egypturnash 2y ago
      Yes, but do you do this every time you take the card out?
      - scarface_74 2y ago
        I do this once per day. I have been doing it since the mid 90s before my bank had a website and you used a propriety money management program (forgot the name of it) that would dial into the bank and download posted transactions. Back then, there was a two to three day delay.
      - notpushkin 2y ago
        I do this before most purchases. I have most of my money in a savings account, and only what I want to spend on the card itself – mostly so that if it’s stolen, I don’t lose a lot of money. Not sure if this helps me spend less, though!
    - fragmede 2y ago
      That's true, but totally dismissive of what works and doesn't work for some people. A number in some app (that I annoyingly have to 2fa into) which I have to check on a debit card balance isn't at all helpful if you don't actually check it. For the obsessive smartphone app checker, I'm sure it works, but ask all your (close) friends what their current credit card balance is. I bet no one is closer than $100 and some probably aren't even within $500. By the time the card fails a transaction and is getting denied because the card, I'm already at the whatever store and have to give up the purchase in a hugely embarrassing way. A physical bit of cash that you have in your wallet and at home is, well, physically present and simply feels light when you're running low. A debit or credit card with a number in some app does not do that. 2fa is a large blocker here, and while it's understandable from a security practice (so I'm not any to turn that off), it's enough friction to not be convenient, and that's assuming you configure the banking app on your phone because you're not scared of attacks to your phone SMS (which you should be).
furyofantares 2y ago
Because you get to do promiscuous arithmetic with strangers.

inetknght 2y ago

> The question is why are you using cash? I use cash because it contributes to the local neighborhood economy more than not using cash. I use cash because I do not want to risk a banking app being broken by a non-banking app. I use cash because I do not trust banking apps to keep to themselves instead of infecting the whole device with spyware to "verify who you are". I use cash because not using cash charges extra (often-hidden) fees while using cash often comes with extra discounts. I use cash because the modern economy is a give-business-money-for-nothing-because-fuck-you economy and I don't want to contribute to that. There are many reasons to use cash. Pick one or many but stop thinking that cash is worse than a tech solution.

scarface_74 2y ago
> I use cash because it contributes to the local neighborhood economy more than not using cash. The merchant gets all except for a 2% fee when you don’t use cash. Cash handling also has cost - theft both from employees and outside actors - too. > I use cash because I do not want to risk a banking app being broken by a non-banking app. When has Apple Pay or Google pay ever been “broken”? Do you not use a bank at all or not use any banking apps or websites? > I use cash because not using cash charges extra (often-hidden) fees while using cash often comes with extra discounts. There are very few places in the US that up charge for credit card transactions. Mostly gas stations and then mostly only for gas. > I use cash because the modern economy is a give-business-money-for-nothing-because-fuck-you economy and I don't want to contribute to that. You don’t think the merchant network does anything? Even if you are opposed to credit card transaction fees are you also opposed to debit transaction fees which are much lower and where there is a legsl cap?
- coldpie 2y ago
  > There are very few places in the US that up charge for credit card transactions I actually see it quite often here in the Twin Cities at small stores, bars, restaurants. A 1~3% discount for cash. > The merchant gets all except for a 2% fee when you don’t use cash. Cash handling also has cost - theft both from employees and outside actors - too. I've asked quite a few merchants that take both whether they have a preference for cash vs card. Most (~90%) say they don't care either way. The remainder all say they prefer cash. I've never had one reply they prefer a card to cash. Also, when making large (like four- or five-figure) transactions with people like home contractors, they all request payment via personal check, to avoid the card fees eating a huge chunk of the transaction. I also dislike the idea of all transactions being trackable/identifiable. I think there's value in being able to perform anonymous transactions.
  - scarface_74 2y ago
    > I actually see it quite often here in the Twin Cities at small stores, bars, restaurants. A 1~3% discount for cash. For reference, I have a card that gives me 3 points back for all restaurants and another card that gives me 2 points back for all other purchases. Doing the simplest thing possible and transferring those points to Delta for flights nets me 1.3% for each point meaning I will at least get 2.6% back on general purchases or almost 4% back worse case on restaurants. If they have to accept cash or credit cards, yes they will prefer cash. But there are reasons that some places don’t accept cash at all. It’s because of employee theft. But it’s harder to steal cash at restaurants and bars because everyone gets receipts. The usual theft from bars come from bartenders pouring more expensive liquors and charging for cheaper liquor and then accepting larger tips.
    - marxisttemp 2y ago
      [flagged]
      - scarface_74 2y ago
        https://www.nerdwallet.com/article/credit-cards/credit-cards-make-you-spend-more https://www.nerdwallet.com/article/credit-cards/credit-cards... People spend more money and tip higher when they use credit cards than cash….
fragmede 2y ago
it's way easier (for some people) to go to the ATM once a month and then have a physical pile of money you're using, ams physically see how much you're spending and adjust habits. A digital card that looks the same all month when you pull it out of your wallet has no such quality and is a basically scam on certain kinds of people to get them to spend more money.
- scarface_74 2y ago
  When you use a debit card, the amount is immediately deducted from your checking account and you can check to see how much you have left by logging into your account.
  - egypturnash 2y ago
    Yes, but do you do this every time you take the card out?
    - scarface_74 2y ago
      I do this once per day. I have been doing it since the mid 90s before my bank had a website and you used a propriety money management program (forgot the name of it) that would dial into the bank and download posted transactions. Back then, there was a two to three day delay.
    - notpushkin 2y ago
      I do this before most purchases. I have most of my money in a savings account, and only what I want to spend on the card itself – mostly so that if it’s stolen, I don’t lose a lot of money. Not sure if this helps me spend less, though!
  - fragmede 2y ago
    That's true, but totally dismissive of what works and doesn't work for some people. A number in some app (that I annoyingly have to 2fa into) which I have to check on a debit card balance isn't at all helpful if you don't actually check it. For the obsessive smartphone app checker, I'm sure it works, but ask all your (close) friends what their current credit card balance is. I bet no one is closer than $100 and some probably aren't even within $500. By the time the card fails a transaction and is getting denied because the card, I'm already at the whatever store and have to give up the purchase in a hugely embarrassing way. A physical bit of cash that you have in your wallet and at home is, well, physically present and simply feels light when you're running low. A debit or credit card with a number in some app does not do that. 2fa is a large blocker here, and while it's understandable from a security practice (so I'm not any to turn that off), it's enough friction to not be convenient, and that's assuming you configure the banking app on your phone because you're not scared of attacks to your phone SMS (which you should be).

furyofantares 2y ago

Because you get to do promiscuous arithmetic with strangers.