How much cash do you guys keep on hand?

How much cash do you guys keep on hand?
(both in wallet and just in cash at home)

Some argue that $1k max is really all you need in cash, both because most purchases don't exceed that and because you miss out on possible gains from having any more than that in accounts.

But I personally keep about $3.5k cash on hand (about $100 wallet, the rest stowed away). Bank rates are a joke so I'm only missing out on a few dollars a year and that's a fine tax on the convenience of having the money immediately available. Plus it's already been useful since I bought a used car last year over a holiday weekend.

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Cool story bro

I don't keep any cash on me ever. Debit card all day.

1.You're stupid

2. Who cares about what you do?

Cash is king.

Once terrorists set off a nuke in NYC the banking system will shut down, and cash will be nearly impossible to get. Those with a lot iof cash on had will be fine. Those with no cash will be fucked and will have too loot to get food. Good chance they will get shot trying to steal a can of spaghetti-o's

The dollar has no backing. Gold and silver in a safe all day.

FYI if you are caught with a 'large sum' of cash on hand it will be arrested. You may not be arrested, but the cash itself will be arrested. Stupid as it sounds the Supreme Court of the United States has found that a 'large sum' of cash is likely to be involved in the drug trade or other illegal activity so it can be arrested.
So how much is a 'large sum'? Lowest number I've heard was around $1200 but it's completely up to how the cops feel at the time.
If they do arrest your cash you need a lawyer to get it back, and you won't be reimbursed for your lawyer's expenses.

100-200

I don't spend more than that

Lasts me a week actually

I'm stating what I do, and asking what others do and if there's a reason to act differently, friendo

not even at home? Doesn't sound wise

if the banking system collapses, we're all holding onto pieces of paper and nothing else

And gold/silver is impractical as well as dubious after any kind of collapse. Heavy as fuck and not really practical for any kind of use so the value it retains post-collapse of anything depends on how badly society collapsed.

it's not "arrested" it's seized (civil forfeiture). And while you're not wrong, this is often (or I believe almost always?) during traffic stops or drug raids. Like I said, only a bit on me at any time and the rest locked away at home.

I'm really just wondering if there's a significant drop off in the utility value of keeping that much cash around after a certain amount... I know there's the liability of it being stolen, but I've also had friends get ripped off by their family, having their accounts and even having their more obvious cash stash taken, and only being saved by their extremely secret money stash (yes, their family member was an addict).

I keep 10 btc on me at all times so I can buy boardwalk if I have to

Around $100 or so. If I ever need more cash than that for something, I can just go withdraw it. It's more convenient to have the money in the bank than it is to have it as cash.

I always carry cash. About $200-$250. A lot of it in small bills.
Just that I was recently in a natural disaster that wiped out my town and killed just under 200 people. For the next week no one could buy anything with cards. It was all cash and bartering.
I'll always remember that and make sure I'm never caught out again.

Also, im cautious of metadata. Don't like my bank knowing where and what I spend my money on. It might only be grocery purchases or take out pizza, but still it's none of their business if I buy big gulps or a couple pounds of bananas a week

Personally, I just don't like having to go to the bank. Not that I do any shady shit, my life is boring as fuck, but I hate that someone could tie together a loose narrative of when I made larger purchases or spent a lot of money based on when I withdrew it from the bank. Plus I have to drive like 10 minutes just to get to one. Waste of time and gas.

This is the reason I don't like using my card for some things. Groceries are fine more or less, but if I'm going to a nearby city on a train or subway, I don't want it to be so easily known that I did such and such a thing on such and such a date.

Again, my life is bland and nothing I buy or do would raise flags, but I just hate the paper trail it all leaves. May as well wear a voluntary GPS tracker.

Do you have a cell phone?

Creating a paper trail for yourself is actually pretty useful.

I have £5k in my office safe, haven't touched it in years, but it might come in useful at some point.

It is backed, there is an established trade amount. The fact dollars are more sought after than the whatever is considered a backing material makes the dollars more valuable. What matters if dollars or coins are more difficult to counterfeit than the other. I mean really think about this, how often do you pay for shit with gold and silver now? You walk into a convenience store to get gasoline, food, and water. That's not unusual. How do you pay for it? When's the last time you used gold and silver for that. If shit hit the fan and you're trying to trade me something like gold or silver you're going to have to prove it's real. The real problem is agreeing how much gold and silver = dollars, just because it isn't backed means the price can fluctuate a lot without someone trying to manipulate it with a lot of people trying to counter price manipulation. If the dollar was gold backed for instance people would be interested in trading gold and how it gets traded without any fucking weird shit happening. Without it backed it's not weird for you to buy up a bunch of it if you wanted to pound it into sheets of leaf and open a business to gold plate stuff, or building electronics.. With it backing stuff people would wonder what the fuck is the supplies about it a lot more. I know if shit hit the fan, I'd take U.S. Dollars just like I do not. Gold or silver you'd have to offer me a hell of a lot more to inconvenience me in not using dollars. Even if you find one person that'll take it, it doesn't mean they're going to find anyone that finds it valuable enough to trade for dollars or anything else.

never more than 200-300 on hand at any time. don't buy cash only stuff often so rarely need it.

It has been a while since I've read the documents but as I recall arrest is the process of taking possession of the cash, while civil forfeiture is the method of disposing of the cash after taking possession.
The reason for keeping cash on hand dictates how much you should keep on hand. If you're keeping cash to protect against financial collapse then paper money is a bad idea. If you're keeping cash because you think you may want to hire a prostitute at 3 am, then you're on the right track. However if you're not expecting financial collapse and not going to hire a prostitute, or buy drugs or something, credit/debit cards are the same as cash.

>It is backed, there is an established trade amount.
No, USD has a floating exchange rate. It's only backed in the sense that they're liabilities of the Federal Reserve which has assets (primarily Treasury securities).

I'm aware of how they can be used, but I also keep most of my shit turned off like location data and even mobile data.

I know I can still be tracked by cell tower triangulation and all, but like I said I'm not a fugitive. I'm not paranoid about being tracked, I just dislike how easy and wide spread it is so I'm not going to make it easier.

Plus even if I was a fugitive or something, I could ditch a phone. If I don't have cash and didn't want to be traced, what would be my option? Sucking dick?

Maybe for an alibi, but receipts for cash transactions can cover that.

I use it to pay bills in cash (my bank takes fucking days to transfer funds and while I'm not paranoid about the feds, I am paranoid about missing a payment) as well as everyday purchases because it's easier to control your spending when it's material and not just numbers.

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>Maybe for an alibi
Also for tax purposes. It's far easier to simply have bank / credit card statements outlining what you spent money on and when than it is to keep track of receipts.

i have 1 dollar in my wallet

I have like $3 in my wallet. Credit card for gas, debit card for everything else.

No tin foil hat required.

Why not just credit card for everything?

About $500. $40 or so in the wallet, the rest accessible. Also a fair bit of precious metals that can be easily liquidated (ugly bullion). But the bulk is (in order), real estate, mutual funds, and the bank.

>I'd take U.S. Dollars just like I do not.
now*
Normally I wouldn't give a shit if you want to live out your little shtf fantasies about trading around gold and silver. But if shtf and you try giving me something that isn't dollars I'm honestly going to consider shooting you because it seems like a bull shit deal that's too complicated.
The problem with how it is backed if shit htf is going to be about the distribution for a thing like gold or silver, and that's going to be relative to how it's distributed around people. Nobody is going to throw up their hands and say fuck it burn fiat dollars like the U.S. dollar to stay warm. They have more faith in the value of the U.S. Dollar having a value. shtf would have to last years and have established trade between places physically like fucking boats and ships in medieval times even if every last bit of electronics was destroyed and no industry could start it again before anyone would seriously start trading or minting it to trade. Nobody would even mint gold they would mint other metals and say it's worth that much gold. Only someone with huge quantities that people would choose to put their faith in which makes no sense than rebuilding the U.S. government and just using the currency it already does unless it were impossible to re-establish it.

How have we gotten this far into the thread without mentioning chargebacks? There's zero consumer protection when buying things with cash.

This is part of what gives Bitcoin value. It's judgement and seizure resistant. You can walk around with $1M in your pocket, nearly bulletproof against civil asset forfeiture.

That's why if you're going to keep money in a bank you use a online bank like synchrony. Their APY is nearly 20x higher than a traditional bank. Still got atm access, no minimum balance etc etc. You get over $15 a month just by having a poverty $1000 in your account.

I may start doing that when I get a cash back credit card, but for now I only use it for gas because some gas stations charge fees for using a debit card.

Bitcoin can be and has been seized.

>You can walk around with $1M in your pocket
before you reach your destination it will be worth $100k

I keep about $3k at home, mostly because undeclared work, I just get used to it and pay almost everything in cash

I'm not running a business, and don't have complicated assets or anything. All I keep track of are medical expenses.

But I do see what you're saying

I usually keep about $50 in my pocket, 120 in my glove box(in case of emergency while traveling), and 1k in my safe at home. The rest I keep in the bank and usually just use my card on a day to day basis.

>use a online bank like synchrony. Their APY is nearly 20x higher than a traditional bank

20x? for what?

i keep anything between 1500€ to 5k€ at my place because it's money i can't put in the bank.

I try to pay as much as i can in cash to avoid paying tax on my income ( since 100% of my income is in cash).

A couple of years ago on a 57k€ income only 32k€ wnt to my bank and the rest was used to pay for everyday expenses. The only cash i put on my bank account was for paying rent, taxes, and things you have to pay with a bank account ( insurance, internet provider, mutual fun, etc.. )

everything i can pay in cash i pay in cash, so i can hide money from my local IRS.

Online banks have lower operating expenses than brick and mortar banks.

>if my identity gets stolen and my cards are frozen, I'm fucked

Cool story, your financial ecosystem is one road bump away from you begging family for a short term loan.

>referring to bitcoin as if it is resilient in the slightest bit

How much did you lose that you're shilling this hard right now?

I've thought about this, but the lack of physical location still skeeves me a bit. Like I'm going to get Bitconnect-ed

no, I'm asking 20x higher apy for what? cd, money market? banking?

highest I see is 2.5% for cd's

>>if my identity gets stolen and my cards are frozen, I'm fucked

You could get run over by a bus as well

I carry no cash ever. Almost everything takes cards now.

you could, but I'm talking about willingly opening yourself to significant vulnerability for no real reason.

Your identity could be stolen so easily it's retarded, or some banking error that locks your (or everyone's) accounts for a few days is easily imagined and possible. What's your excuse? You don't like carrying coins in your pocket after getting back change?

>I've thought about this, but the lack of physical location still skeeves me a bit.
you don't seem to trust anything, perhaps Jesus is the only answer for your financial protection

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shove all your money in a mattress

then hope your house doesn't burn down

>ITT edgy millenials who pay cash for things instead of building credit / equity with a line of credit.

Millenials are the worst fucking generation EVER.

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You're an idiot keeping it in your car. You just gave someone 120 reasons to smash in your windows, or windscreens and they cost a lot more than that to replace. Then some asshole finds 120 dollars in there they're not going to stop smashing in soft car spots at break ins, if they find a locked car they're going to start smashing windows and screens way more readily. Fucking asshole I hope you got some kind of rare distinguishable car so people don't think that shit is normal.. On the other hand I kind of hope you have a piece of shit since it matches your intelligence.

>pfft, you won't give them literally all of your assets? Pussy

Thanks, shill. There are real concerns and downsides, or else everyone would do it.

I'd also like to take a second and thank everyone in this thread that apparently lives in San Francisco and never has to deal with places that are cash only or any other kind of hiccup where you need another option that isn't a digital transfer of funds.

I bet you all venmo your friends money instead of just paying them back with a fucking ten dollar bill.

>some asshole finds 120 dollars in there they're not going to stop

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Not him, but I have multiple bank accounts and a credit card with yet another company. It's less likely that I can be locked out of all my accounts than it is someone will break into your house and steal your cash.

>a few dollars a year
You get dollars? Where do you bank?

You're the third stupidest person, after the shtf gold silver guy in first place, 120 dollars left locked in his car guy, then it's not paying off interest with the thousands of extra dollars you have to save money. If it were not for the principles of it all if I were in all 3 of your shoes I'd consider you the biggest idiot.

0. My town is pretty much 99% cash free.

Why would you even need a thousand dollars in cash on hand, 3.5k is an absurd amount of money to keep even in a checking or savings account unless you make serious dough. Invest that shit or put that money towards anything that pays a higher interest

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You're out of your fucking mind if you don't think bill gates wouldn't spend an hour to steal 120 dollars out of your car if he knew he could get away with it. He didn't get rich by passing up easy money.

I used to use cash for everything because "debt is eevvuuulll!!", but I ditched that bullshit because I can keep track of my spending better with a CC, I get cashback and as someone else mentioned, there's protection with it to a certain extent.

So, cash in my wallet, I'm maybe at ten or twenty bucks.

In the bank, I'm usually only at about 10k, but I'm a bit heavier around April, usually 30k or more, just to make sure I have enough to pay my tax bill.

I wish I could keep less of a float, but I've got a lot of fluctuations in my balance, so I don't want to overdraw.

I keep all my money at home, fuck banks, all they do is rat out and give my wealth to the government, who then give it to the bankers.

>never has to deal with places that are cash only
what shitty place do you live in? not even a single atm in the whole town?

Only poor people use cash here. Poor people and 89 year old Matilda who is afraid of technology.

>my credit report had errors including a line of credit reportedly taken out when I was fucking 18 months old
>target said I had $14k in debt to them despite them not even having my SSN

UGGGHH Guys why won't we just bend over and suck the all mighty credit agency dick???

Again, thanks for the input west coast

NYC would like you to get out of your bubble

Where do you live where the interest are higher than the taxes ?

I'm a freelancer in western europe and AT LEAST 25% of my income goes to pay taxes. Earning my income in cash, means i don't have to pay taxes on it.

>all they do is rat out and give my wealth to the government
maybe try a credit union, and different pills

PAY FOR MY PENSIONS GOYIM

You should have saved money when you had the chance you stupid nigger

I'm in Texas, plastic slinging all day long

I live on the east coast and have never encountered a place that only takes cash.

Nope, I keep my money away from these bank bailout morons who tell the tax man how much money I have where.

no where, he's just a moron

Only time I pay in cash is when I go drinking. Never bring my card then, only around 150 bucks in cash.

$40

I don't even know. Probably 2 to 500. Every time i get cash i just shove it in a drawer and never count how much i have because i rarely use it.

I started churning credit cards last year so i only buy stuff on credit. Good way to make thousands more a year.

That sounds scary. What if there's an event and electricity goes out?

These piece of shit PRIVATELY OWNED BUSINESSES in the banking industry went bankrupt because of their retarded actions. What did they do? Go bankrupt, apologize, take the hit for themselves?

No, they got Obama to print trillions of dollars via the Federal Reserve. Can you do that? Flunk a test, not do your job and get bailed out? I can't. No abdication of responsibility for you or I. Baker on the streetcorner goes bankrupt due to bad management, no bailout there. Only for the banks, because they pay the political candidates.

People wait until the next day?
Never had a problem. Most places have backup generators anyways, if the power goes out in winter it could kill people otherwise since it's often around -30C here

Bitch, when I have 15 bucks on me, I consider that a lot.

Fun fact: the bailout has been repaid.

>Where do you live where the interest are higher than the taxes ?
Interest rates are set individually by anyone you buy from user. Government repealed interest rate shit years ago. That's how most people make money and decide to loan in the first place. I avoid that like the plague unless I have a backer because if it's not my money to start with I don't care about getting a smaller cut, if we're both going in, it's cheaper to both pay half and give them an interest cut than just going at it alone. If you're a solitaire entity I reject the fuck out of those kinds of loans I don't even try to get into any obligations that would require me to do that unless I'm running off enough margin of profiting off it enough to keep doing it for a really long time and I'm doing someone a favor.

By the bankers who caused it? Is the debt going down as fast as it has been going up thanks to the Democrats and RINO's?

>I'm doing someone a favor.
that I really like personally****

As much needed in case I want a hooker and a bit extra

>By the bankers who caused it?
By the banks who received it, yes.

Thanks a lot Obama

As little as possible, cash sucks
I have 95% of my portfolio in real estate and the stock market

I have cash around only when I absolutely need to or when the stock market has been peaking and I've been selling a lot.

And the money printed has been destroyed, restoring the value claim to what it was before the crash?

Inflation never got higher than a few percent. Deflation concerns were actually the bigger issue.

dumbass, he's talking about the money staying untaxed because it isn't reported by the bank.

If he put that money in and had to report it, he'd lose, according to him, a minimum of 25% of it. He then asked "where are you going to get a 25% apy from a bank?"

Then you flew off about loan interest. Do you think he's a predatory payday lender or something?

A few percent is HUGE. That's why they abolished the gold standard. It's easy to calculate 1kg of gold per 1000 units of money, then making it 1kg/2000 is a reduction of 50% of the value of each unit of currency.

None. I have no money at all just like I declare on my taxes.

This tbh.

>A few percent is HUGE
No, 2% is considered nominal and desirable. Huge was those double digit amounts that we had back in the 70's-80's.

wallet, i usually have at least $20 for food or gas. if its payday and i havent purchased my weekly amount of liquor, then i have usually about $150.

i have about $1K in the bank, but over $40k in stocks if it really came down to it.

>2% is considered nominal and desirable

Per year? Considered by who? The people printing the money, that's who. Devaluating money means they get to loan out more money, which increases the interest their receive. Money devaluating doesn't affect them, they can just print more on demand.

>Per year?
Yes.
>Considered by who?
Mainstream economists.

money devaluation actually benefits the borrower because the amount they owe is now of less value than the amount they borrowed at the time of borrowing.

So keynesian economists, who are all, without exception, marxists who do not live in objective reality. Of course you can make magical thinking work with magical thinking.

No, it means people can't save because their money will be worthless in 30 years. It's work or die.

>Do you think he's a predatory payday lender or something?
That's how I approach any loan.
Tax thieves should get deported. Your stealing food out of childrens mouths, you're taking text books out of their backpacks, you're keeping people sleeping on sidewalks on the street. I really think people like that should get deported to some shit hole of a country instead of allowing a mob to flay them alive. If they get well off enough maybe flaying is better. Getting rid of public executions was a mistake.