I get this question a lot, and if you say NONE I’m going to punch you in the face ;) Haha…. nah, of course I wouldn’t do that to that beautiful face of yours. BUT I would like to hear your reasons why if you don’t think it’s important.
There’s been sooooo many times where I’ve failed to listen to my own advice and have been caught w/ my pants down, sorta speak. Now, I ALWAYS do my best to at least have $10 or $15 on me at all times. Although the more the better, within reason (you don’t wanna be big pimpin’ with wads of 100’s in your pocket.) My magic number is usually somewhere around $20, and every paycheck I take out $100 in cash to make sure I’m topped off.
Here are my 4 main reasons for this:
- Not every place takes plastic. Like cabs, toll booths, and – more importantly – vending machines! :) How many times have you been starving for a chocolate bar or soda and realized you had no cash on you? It’s pretty frustrating.
- Not every place offers an ATM machine! (yeah, I saw your thoughts forming there Mr.) Yes, most places these days offer a way for you to get your cash, but unfortunately you can’t always count on it. And if it’s late at night, let’s say, and you’re a girl needing cash with no ATM in site, you could have yourself a scary situation. Two of my guys friends have been held up at gunpoint for trying to make a 2 a.m. cash run before – it’s freaky! And incidentally enough both these guys give me crap when I get on their case for never having cash!!
- You don’t wanna be “that guy” who is always bumming a few dollars for something. If you’ve got cash on you, you never have to borrow any! Or pretend to borrow and then just forget to never pay the person back ;) I know a few people like that and they drive me crazy! And their excuse 99% of the time? “I never carry cash.” Well start, dufus!
- Cash makes splitting the check easier. You know those times when you’ve gotta divide up the check by like 8 people? Of which 7 only have credit cards? Guess who’s gonna have an easier time dropping their portion ;) Especially if you’re one to get outta there once you’re paid up (admittedly, I’m one of these. it drives me cRaZy watching a half dozen people calculate and figure out who owes what – I’d rather drop my cash and be gone.)
That’s all I’ve got for your right now. Are you convinced yet? :) Do you have more to add to it? I’m interested in hearing what you think. The last time I blogged about something like this I had a reader say safety doesn’t come in play whether you have cash on you or not. I obviously disagree, but I couldn’t remember what her rebuttal was. Also, I’d like to know how much cash you have in your pocket RIGHT this second!
Sooooo, let’s play a game called – “I have $___ in my pocket right now, and that is because _________ .” Ready? Go!
(Dollar dezign by J$, yo.)
Killer resources and apps:
- Best Budget Templates & Spreadsheets (FREE)— The best free budget templates from around the community! Including the ones I use :)
- Personal Capital* (FREE) — A great app to track your investments and net worth. You can see an in-depth review we did here from a millionaire who checks it daily 😂
- You Need a Budget (YNAB)* (FREE TRIAL, then $14.99/mo or $98.99/year) — One of the BEST budgeting methods in the space, with new users saving $600 on avg their first two months, and more than $6,000 over their first year! Check out my friend Vic’s review of YNAB here that went on to completely change his finances 💪
- Digit (FREE 6 mo. Trial, then $5/mo) — This is one of my favorite apps for automatically saving money, and I even came on board as an advisor I believed in them so much! You can see my full review on Digit here.
- Acorns* ($3-$5/mo) – Similar to Digit, this app helps you automatically INVEST money by rounding up all your transactions to the nearest dollar and then investing it right away for you. My full review of Acorns can be found here.
- Honey (FREE) — By far my favorite coupon service out there! Click the Honey button any time you're about to buy something online, and BOOM - any discounts it finds will be automatically applied at checkout. You can see my write up on them here.
- Credit Karma* (FREE) — An easy way to check and monitor your credit score AND report! See my full review of these guys here.
- My Favorite Blogs + Books < -- Click here to see all my other recommendations!