A long interesting conversation over dinner with friends ... WHERE'S the CASH ???

[bootdad]

Do you use cash anymore except to hire an escort ???

 

In the Ask An Escort Forum - someone posted -

How so escorts handle the mundane yet pricey aspects of living?

 

Over dinner last night at my home with a few of my peers/colleagues several of whom like myself are

self-employed / run a small business - all of us gentlemen (we like think-LOL) well past 50 - we all got to

talking about how the use of money (as in cold hard cash) has changed dramatically over the past

generation. Now several interesting things came out of this discussion ...

 

We all remember a time when...

 

1st - we would go to the bank / then the ATM and withdraw several hundred dollars a week in cash

to be used for social and practical reasons (daily living expenses) through the balance of the week

 

2nd - we all remember a time when as recently as 10 or 15 years ago we wrote dozens of cheques weekly -

several of us run small businesses - a couple of years ago - I moved my studio after being in the same

location for almost 10 years and shredded several cartons of financial documents from the 90's and was actually

surprised that just over 10 year ago I was writing 60-80 cheques a month to suppliers / vendors /freelancers

and my business has not changed that much but I rarely issue 10 cheques a month - I have more than

2 dozen monthly pre-auth's on my corporate and personal Visa's and almost all of my vendors take Visa

 

3rd - 2 of friends are in businesses (hospitality and retail) that at one time generated vast amounts of cash and

both said compared to even a decade ago they probably handle 75-80% less cash today. A huge disappointment

to both of them because as owners they were accustomed to grabbing $100.00 plus weekly from

the till as joy money (it was their business - please don't moralize on this statement)

 

4th - between online banking and the ATM - I think I would be lucky to see a bank teller for a transaction

2 or 3 times a year (yet am astounded at how high my collective bank / CC charges are - I don't pay any interest)

 

5th - I took out $ 200.00 at the beginning of December (granted I have not travelled or hired in the past 5 weeks)

and have shopped for groceries several times a week, been out to dinner / drinks more than a dozen times / bought at retail more than a dozen times / bought gas weekly and still have $ 120.00 in my wallet ??? I think I used more than half of what I spent on Taxi's just because of too much festivity partaking in December

 

Finally - I use to keep several thousand dollars in cash in my home safe for emergency situations (9/11 type

emergency or the Northeast Blackout of 2003 comes to mind) is that just guys my age or do you still believe in

the need for a stash of cash . . . not just for hiring ... but it sure came in handy for that as well (in fact I deliberately reduced cash in hand for that reason - it was to easy to go in and grab a couple of hundred bucks for a quickie)

 

SO - the long and the short of it ?

Who uses cash anymore ?

How much cash do you use ?

Where do you use it ?

Is the escorting profession the last bastion of cash for services rendered ?

Are we moving to a cashless society ?

[+ sam.fitzpatrick]

My cash use is down somewhat. I pretty much make purchases with my credit cards at the gas station, grocery store, etc. I only have three pre-authorized withdrawals (mortgage, condo fee, and life insurance) and still write checks for my utilities and other monthly bills.

 

My planned use of cash is pretty straight forward: $1.85 at the Tim Horton's on my way to the office for my XL cup of black coffee, $1.50 in the vending machine for my diet Coke to go with my brown bag lunch, and enough cash to make to midnight at Friday night's poker game.

[+ deej]

Various service providers still accept cash. If you call a locksmith to your house he'll usually take cash. Likewise a handyman or really any service provider that doesn't have a fixed location. (Although they're accepting plastic a lot more often now, too.)

 

In my personal life, I write approximately one check per year. (A membership every autumn, and that's only because they don't make it easy to do otherwise.) The last time I used the ATM it had been such a long time I stood there drumming my fingers for a few seconds trying to remember my PIN.

 

But I have a friend, my age, who has never used an ATM. He prefers seeing the teller. Still writes checks. Doesn't trust e-transfers. Uses a credit card often, but still pays cash for groceries.

 

Diff'rent strokes, eh?

[bootdad]

You are kidding . . . right ???

 

Common Deej - it's 2012 - I can understand my mother who is 85 not using an ATM but who in this day and age would want to line up for a teller or write a cheque for a utility or any monthly bill - OMG - I should have the luxury of so much free time to indulge in such simple old world charms - handwritten cheques for utilities - this is always what fascinates me about the range of characters on this forum - now I am wondering if those in large urban centres view cheques / banks a wee bit differently than those in the suburbs and quaint bedroom communities ???

[josephga]

I carry pretty much no cash. I use the debit card for everything. only cash is the cash my massage clients pay with and that's deposited with a teller I have never used a ATM.

Few months ago I started accept credit cards and a few use it for paying for massages about 500.00 amonth are credit card sales. I write one check amonth for rent. everything else I pay online.

[seeker630]

A year or so ago, I was standing in line at a local diner I frequent for Saturday breakfast, and I noticed that among the half-dozen people in line at the cashier, I was the only one who paid in cash. Before then, I had always felt odd for using plastic for purchases under $50, probably, but I started using my debit card for smaller purchases. Shortly after, a friend convinced me to start using my credit card more, to accumulate rewards points, so now I have a card I use for routine expenses & pay off each month in full, plus a second card I use for occasional larger purchases I might pay off over several months. Most of my monthly bills (utilities, cable, etc.) are charged against a card or paid online.

[One note: at my diner, I tend to pay the bill with a card but leave the tip in cash, since the wait staff get more of it that way]

 

I do keep a small stash on hand for emergencies (& the occasional hire).

 

And about the only time I actually enter a bank is when I need larger bills for traveling or some other occasion.

[leigh.bess.toad]

Like others, my cash use is down. I'll normally use under $10 bucks a day in cash, $1.01 at a time (okay I have a double gulp addiction) and maybe a snack some time. Other than that, it's my debit card masquerading as a credit card to get frequent flyer miles. I use it as a charge for virtually everything -- car payments, utilities, groceries, gas for my car. I write maybe 5-10 checks a month. I'll use the drive-up teller to deposit checks but rarely go into the bank. The only tellers I see regularly are the ones at the credit union at my office.

 

I rarely have much more than $50 cash on me, unless I'm paying for a hire.

[adriano46]

Lived too long overseas and so have an almost unrealistic fear of an empty wallet.

 

I do use credit cards for most bills and monthly payments (and have a gas card). I do not have a Stateside checking account because I only rarely have to even use a check -- eg to get a %$#$% NYState driving license!!!

 

BUT I somehow feel naked if I do not carry a few hundred around (OK -- not IN the wallet, but most of it hidden away in my home), as I hate using ATM machines except when necessary. On what others have stated -- I have not used a bank teller in the US in 2 years.

[Electra 225]

I almost never carry cash. I use my ATM/Debit Card for almost everything on a daily basis--including coffee on the way to the office, gas for the car, etc.. I carry only one credit card with me (the others stay at home) for emergencies or when I am travelling. I carry about $10.00 in singles with me for tips or other very small items (I usually put the restaurant tip on the tab and pay for the whole thing wth the debit/ATM card). I write about ten checks a month for the usual things--mortage, car note, condo fee, housekeeper, etc. It would be very, very nice if more escorts would accept credit cards as it always means an extra (and often inconvenient) stop on the way to an in-call or a trip out to get cash if I am hiring in.

[KMEM]

I opened an account at a different bank last March. I see that I have written 10 checks on it. Otherwise every thing else is online and/or plastic. I have gone to the ATM twice since then and have not visited a teller since I opened the account.

 

Years ago, I carried as much as $40,000 in traveler's checks to pay for fuel and other costs of moving aircraft around the world. Most fueling places in other countries would not take credit cards in those days.

 

Best regards,

KMEM

[rvwnsd]

Common Deej - it's 2012 - I can understand my mother who is 85 not using an ATM but who in this day and age would want to line up for a teller or write a cheque for a utility or any monthly bill - OMG - I should have the luxury of so much free time to indulge in such simple old world charms - handwritten cheques for utilities - this is always what fascinates me about the range of characters on this forum - now I am wondering if those in large urban centres view cheques / banks a wee bit differently than those in the suburbs and quaint bedroom communities ???

 

A friend who is my age (mid-40's) writes checks for groceries and bills and pays for small purchases using cash. Now that she and her partner have adopted a baby and she has a rewards card, she has started using the credit card. I, on the other hand, pay for everything with a credit card (and pay off the balance at month-end), use online banking to pay all bills, and rarely use cash. I use a teller less than twice per year. I write checks when I make donations, mainly because I like to download the image of the cancelled check for tax purposes.

[bootdad]

Travel in the 80's and 90's

 

I traveled extensively during most of the 80's and 90's often as many as 3 countries in a month . . . what a nightmare it was even in Europe to spend a few days in London, move on to Paris, then Berlin or Barcelona (more than 3/4 of my trips were business related) in those days carrying currency for 4 or 5 countries (trying to approximate the currency exchange, etc. Made travel unnecessarily complex!!! It would be a shame to see the EURO crumble as it made travel so straightforward this past decade.

On the flip side (I remember starting my career in the late 70's) struggling with logistical and currency issues daily when purchasing at trade shows when few vendors were on any sort of standardized currency like the U.S. $ as their selling point - mind you these days when 90% of what we buy at retail is made is China that is not nearly the issue it was 30 odd years ago !

[GoodFella69]

Interesting thread KMEM. I wrote two checks all of last year. I keep "emergency" cash on me when working/traveling. Primarily use cash for gratuities at hotels, airports, taxis, etc. That's about it. It's incredible how little cash we use in today's world.

[EZEtoGRU]

I'm a cash junkie so I guess I am the exception here. I feel naked if I don't have at least $200 in my wallet. I pay cash for everything except hotel stays, airline tickets, and fine resaurants. I do recognize I am a dying breed. I have $10,000 emergency cash at home in a safe.

 

I can actually see a day when cash will no longer be usable. It may be closer than we think...but how would we tip strippers?

[+ nycman]

I rarely use cash for anything anymore.

 

I pay rentboys and my barber in cash. I also give my Christmas bonuses in cash.

 

Otherwise, pretty much never. I do however travel with an emergency stash of $100 bills.

 

It's amazing the amount of trouble you can get out of with a wad of $100's.....lol

[Phil_musc]

I'm one of those who feels naked without some cash on me. I still write the occasional check although I've moved to having more things done automatically for me. I do still like to deal with a bank tells from time to time - did just two days ago for a deposit. Something nice about face to face transactions - and I felt like I was partially responsible for her (the teller) having a job. The more we automate, the less jobs there will be , IMHO.

[bootdad]

Automation does not kill the jobs !!!

 

TENS of thousands of new jobs are created in new industry sectors weekly ... technology, design, programming, apps, training and the list goes on ... we need to stop hanging on to this quaint notion of how life was and realize that for a huge percentage of the population under 30 that has never known anything else but the marvelous 'tech' world we now live in ... there is no going back. Don't you marvel at the fact that those thousands of kids at the Genius Bar at Apple (not to mention the rest of the terrific employees) who many thought were geek freaks a generation ago know rule the world ... what a wonderful reversal of fortune for the meek or is that the geek to have inherited the planet !!! LOVE !T !!!

[raife]

I always keep at least a thou around the house and a few hundred on me. I use cash for almost all restaurants, most gas (ARCO - takes cash at the pump) and groceries under $200 or so. And, of course, escorts. All of my friends use credit cards in the same manner as you guys, and all have been victim to some form of identity theft (I have not). I suspect that extravagant use of CCs for all transactions is one reason. Besides, I don't really relish the idea of my CC account transaction logs being the story of my life. Also I live in LA and there's always the possibility of "the Big One" and the thought of living without electricity for a week looming in the back of my mind.

[Bosguy]

TENS of thousands of new jobs are created in new industry sectors weekly ... technology, design, programming, apps, training and the list goes on ... we need to stop hanging on to this quaint notion of how life was and realize that for a huge percentage of the population under 30 that has never known anything else but the marvelous 'tech' world we now live in ... there is no going back. Don't you marvel at the fact that those thousands of kids at the Genius Bar at Apple (not to mention the rest of the terrific employees) who many thought were geek freaks a generation ago know rule the world ... what a wonderful reversal of fortune for the meek or is that the geek to have inherited the planet !!! LOVE !T !!!

 

I carry very little cash on me except trips to use for tips, minor expenses, and OF COURSE "entertainment" I agree that the total number of jobs will not be diminished. What I fear is that the "types" of positions will be dramatically altered. What is going to happen to long term, dedicated employees who are unable to adjust to the new technology or relocation? My hope is that these employees will be allowed to matriculate gracefully and professionally for their years of service to customers and corporations.

 

Boston Bill

[+ Charlie]

Although I seem to make trips to the ATM much less frequently than even a couple of years ago, I still do pay cash for a number of things. I pay my barber with cash, as well as my tennis instructors, and my gardener if he does something that is not part of my monthly bill. At the end of the year, I give cash gifts to regular service people, like the pest control man, gardeners, pool man, etc. I often tip with cash in restaurants, even if I put the tab on a card. If I buy something in a store, market or restaurant for less than $20, I often pay for it with cash. I am uncomfortable when I do not have cash available, and usually try to keep about $100 in my wallet for emergencies. Because I live in earthquake territory, I follow the advice to keep some cash stashed in a convenient place, in case the banks are closed and ATMs stop working after The Big One.

 

I am old and do not trust online banking, so I still pay almost all bills by check. When phone solicitors ask me to make donations with a credit card, I always refuse, and ask them to send me a bill and I'll send a check; if they don't like it, that's too bad--it's my money. (This is probably a subject for a whole 'nother thread.) I do use credit cards a lot when buying things in person, and I have never bought anything with a debit card, because it is too easy to lose track of what I have spent, and of how much I have in the account at the moment I make the purchase. The only time I use cards online is when I am making travel reservations by myself instead of through my travel agent. I don't shop online.

 

I do interface with bank tellers regularly (my mother was one for several years, and I like to help them keep their jobs). I am paid by check in the mail bi-weekly, because my employer won't do direct deposit for consultant work, and I do receive checks for other things, so I keep a good supply of deposit slips. I like the convenience of being able to transfer funds electronically between my different accounts, but my partner will not use the function, so in order to move his money between accounts I have to use checks and deposit slips.

 

When I worked in eastern Europe right after the collapse of Communism, I discovered that everyone was accustomed to a completely cash economy, being paid in cash and purchasing everything--even big ticket items like cars--with cash. I, too, was paid in cash, and I would have been unable to function without it. People were fascinated when I explained to them how personal banking accounts and credit cards worked; debit cards and online banking had not yet been invented, even for Americans at that time. Now when I travel to Europe, all I take with me are a couple of credit cards and my ATM card, plus some cash to exchange for local currency when needed, and I often arrive home with almost as much cash as I started with.

[leigh.bess.toad]

Does anyone remember the first time they ran into an ATM machine? I do. It was named Barney at the Connecticut Bank and Trust in the mid to late 70's in Hartford when I was in college.

 

Seems like forever ago.

[instudiocity]

WILLiiam Teller at First National Bank of Birmingham.

 

Will Teller will give you MONEY!

 

Does anyone remember the first time they ran into an ATM machine? I do. It was named Barney at the Connecticut Bank and Trust in the mid to late 70's in Hartford when I was in college.

 

Seems like forever ago.

[gp0560]

Had breakfast at a new place a couple of months ago, went up to the cashier with my VISA in hand, only to find out they accept cash only. I didn't have enough with me, so I had to borrow from the guy (escort) I was treating to breakfast.

 

Otherwise, I write maybe one check a year. Other bills are paid with pre-authorized debits for the mortgage (fixed amount) and utilities (variable amounts) and online bill pay for all others, including the VISA accounts. All income is handled via automatic deposit.

[+ purplekow]

To my mind when you had to pay for something with the cash on hand, people tended not to overspend as much as they do today. Personal debt is at an alltime high in the US very likely due to the disconnection between buying and having the money to pay for things which is fostered by credit, electronic billing etc.

i use cash moderately but i do not spend a lot in general. I started to pay my bills on line and still pay some that way but I find it easier in general to pay by check and keep a record. Certainly cash or check for gift. i was at a christening today and included a check in the card. How would a non cash user give a monetary gift?

i have come to dislike gift cards especially the ones which do no allow for immediate recognition of the balance on the cards.

As a business owner, i love when people pay cash and I do not have to subsidize their use of credit with 1-2% of the sale.

i buy the occasional lottery ticket and I think there is some proscription on paying for those on credit.

As a college freshman i wrote a short story concerning a man attempting to pay cash for a package of gum in a futuristic society where credit was the norm. He had to offer all types of identification including an autographed picture of Joe Namath in pantyhose which should give some of you a clue as to how long ago this paper was written. It occurs to me that in this time period, one would not be attending classes at many universities, that one would not dare submit a hand-written paper and that few students take Creative Writing as a required English course anymore. The world has certainly changed, just not in general for the better, in my humble opinion (IMHO for those of a computer short hand literacy level)

[justaguy]

Cash? They still use that? These days I'm usually cash free. Outside of hiring, the only time I'm carrying cash in any sizeable quantitiy is when I'm on vacation outside of the States.