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After The RV ... How Much Cash Should One Carry? and You?

smee2

By smee2,
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smee2 Newbie

smee2

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I was writing a cheque today, yes a cheque, to go in the mail, the old way of paying bills. This was for a company that takes only cheques. They have not come into the modern era yet. But their other way of dealing is in cash. And that got me to thinking, sometimes a dangerous thing.

I usually carry a certain amount of cash in a small zip wallet that holds my cards and fits into my slacks pockets. I gave up the entire idea of a purse years ago when I found I had graduated every few years to a larger, and larger bag. I was carrying about what amounted to a piece of luggage, and really I carried enough to do an overnighter somewhere.

Anyway back to the cash deal. I start out with maybe a couple hundred dollars and use it as needed and when it is down to about thirty or so I restock. It works for me. But I was wondering about after the RV. Will I carry the same amount? Will I carry more? Will I have more cards and carry less? Having trouble imagining the RV having happened, and the kind of money I'll have access to, I really have no idea.

I currently have a $500 daily limit on my debit card. I cannot debit more than that or take cash from the ATM for more than that, each or in combination. The first thing I suppose would be to make sure that limit is raised ... by quite a bit.

But it leaves the problem of how much cash to carry ... hmmmmm . So, I thought I would ask you, the members, how much cash you would carry after the RV, when you actually have cash and a choice in how much you have on you at any time. Think about it. It isn't easy for me to decide, is it for you?

Let me know ...

Thanks for partaking in my little curiosity ...

:)

smee2

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Markinsa Grand Master

Markinsa

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Probably the simplest answer would be, carry no more than you are willing to lose if you were robbed or lost your purse. Of course as you gain wealth, that amount could be in the thousands.

My thoughts would be, to carry enough cash to last me a week without me having to go to the Bank. For my debit card, I will keep the daily withdrawal rate where it is. I will have credit cards, and this is where I will make larger purchases. There won't be a limit on the Card, and the Card will be paid off on a monthly basis, so there will be no interest fees.

-

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Luigi1 Grand Master

Luigi1

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I will continue to carry a debit card with little or no cash on me. If they don't accept my debit card, tough, I'll take my business elsewhere.

After RV, do get a policy or rider protecting your wealth like Lifelock, then LLC or incorporate yourself with a separate trust fund to protect your assets. There's a lot of evil people out there just waiting to pounce on you.

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smee2 Newbie

smee2

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So far your comments have been very helpful. You have made me rethink a few things, which is always for the good. Eliminating the humorous comments, not meant to be taken seriously I am sure, but I do enjoy them and thanks ... the serious comments show that you people are thinking in the right direction as far as I am concerned.

As far as covering my butt if I lost the money I carry, being mugged or just plain losing the cash, wallet or not ... I am covered with insurance. Because I rent currently I carry a policy that covers the contents of my home. The landlord takes care of the house and I take care of what is in it, all my stuff. But I have a couple of riders to cover jewellery, and anything that is in my car, or at another location like when you lend something out, and of course, cash on hand. I think the limit on the cash is $500, so I could carry that much and if I lost it, the policy would cover it, but most likely there is a deductable on that. I wouldn't want to carry that much though. If I want to buy something that costs that much I would rather use the debit card, or even credit card. And yes, it will be a new sensation for me to actually be able to pay off the card completely every month. As things stand now I usually get it paid off completely about three times a year.

Anyway, thanks for the input so far. I am learning a lot.

:)

smee2

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WorkerBee Newbie

WorkerBee

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The banks have these nifty little high limit credit cards for extremely wealthy people. Plastic is just better all around, if you lose cash you can't replace it, if you lose your card you are protected from fraudulent charges and you'll get a new card overnight. Plus you can rack up some major points for redemption later. I only carry enough cash to eat on and I'm sure the wait staff prefers a cash tip. Plus,I found out the hard way if you have cash, you children will have some extremely important reason as to why they need it. :lol:

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DinarSeeker Newbie

DinarSeeker

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Smee2, Im a little taken back on your post. Ive been here a long long time, years. I dont ever remember you posting something like this before. Please do not take offense but if the Rv allows the proceeds we think they will be, why would you carry it around? My only question is, who all knows that you have money now? Once the Rv happens, how many people that you know, will want your money now?. Hopefully none, but if children are willing to kill their parents for money, then why not a friend or co worker, whos blinded by your new wealth? My point is this, folks will do anything for money, especially when they dont have enough.

The way I see this site; it could be your best friend, or your worst enemy. What I mean is, of the 44,340 registered members here, not every one of them are here for the dinar benefit. Wouldn't it be easy to run through the members list looking for verified status if you were the IRS? Or if you wanted to know the potential offshore statistic +/-, by looking for the amount of VIP members, past and prestent? Now Im not suggesting in any way that would, or is going to happen. But the govt can, at anytime, pry into anyones life. Read here about Steve Jobs FBI report, http://gawker.com/5883670. It just seems folks here don't mind putting themselves out there for all to see, and it would not be difficult by any standard, for peering eyes outside of this community, to get that information.

This investment will come at a time when we are witnessing the evaporation of the middle class in this country. Our national debt is incurable, just not realized yet. This URL is of Timothy Gietner in his own words that Obamas budget is "UNSUSTAINABLE" for the future of the US if passed. How much more evidence do we all need to get it? Gietner is Obamas pick Sect of the Treasury if you dont know. http://www.theblaze....ont-want-yours/

Wisdom and experience bodes a responsibility to money. A steward if you will. I think the real question is, what measures have you have taken to protect yourself from the effects of money. An effect that will be prove to be disaterous, and short lived, for many here.

Smee2, I truly believe, that once the cat is out of the bag regarding our incurable deficit. Our reserve currency status will be passed on to another "fiscally responsible" country. It is at that point, the US will have closed the book on the US dollar. It will leave all of us to fend for ourselves in the interm, what will the govt be able to do?. If your wondering what that might look like. Think back to hurricane Katrina, and how the govt responded to the city of New Orleans. Thats just one tiny pin in the haystack if every city needed help in the US, comparatively speaking. Sorry for the gloom, but its hard not to notice both of the worlds super powers on the edge of imminent monetary collapse, and very little time left.

In closing, I would like to answer question with my simple sided answer, based on common sense and street smarts, carry enough money with you to stay alive, and not enough money to find yourself in trouble.;)

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FreedomExpress Newbie

FreedomExpress

Posted
Posted

Interesting Question, I have always liked the idea of having a nice amount of ready cash on hand for any and all emergencies. Perhaps, an average balance of $ 1,000 in my wallet at all times...you just never know? If I see someone that has had some bad breaks and could really appreciate a few bucks that sounds like a good way to make both of our days!!!

Now for cards I will carry two one a debit for small items and amounts (gas, meals, etc,) with modest funds associated with it. I will stay away from any high end Debit cards with too much hacker and fraud worries. For the high-end I believe American Express has a Black Card with no limits and extra security if lost or stolen.

Furthermore, after my initial purchase of new home, autos and etc. with Cash and Invest all remaining monies. I plan on strictly living off my dividends and interest from my Principal. My Family Trust will be setup for Generational Income forever and ever...

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Nelg Newbie

Nelg

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Posted

I have a wealthy friend who use to carry $5,000 in $100s. He would get brand new bills, stack them neatly, then take rubber cement and glue the left edge together where the bills formed a pad. He would go to pay a clerk at the store or restaurant, reach into his pocket and pull out the pad of $100 bills. He would get a big kick out of seeing the clerks face. Several times the manager was called to verify that the bill was real. He also said that if someone tried to rob him, he would just say that he just made the money that morning! Crazy guy! But he got a lot of laughs and comments.

Personally, debit or credit cards are easier. Two of my cards have limits of $12k and $15k. I can usually get what I want with them and I have no problems. However, I do have the "Fraud Department" watching for individuals trying to get into my account. I am going on a trip Sunday. Thursday someone tried to charge over $8,000 to one of my cards. I got an immediate phone call, the card was cancelled, the party arrested, and I got a new card Friday afternoon. Had that been cash, it would have been gone and I could not have done anything about it. I could call the police, but it's pretty much gone. Most are never caught.

But way to travel is with a bit of cash, but mostly on debit or credit. Be sure you call the bank and card company and let them know you are traveling. That way if the cards need to be verified, it will take less time. Always pay at the register and do not allow the clerk or restaurant personnel take it out out your sight. It is two easy for them to get your information.

I do think the $100 bill pad is a hoot. I would never do it.

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DinarSeeker Newbie

DinarSeeker

Posted
Posted

Interesting Question, I have always liked the idea of having a nice amount of ready cash on hand for any and all emergencies. Perhaps, an average balance of $ 1,000 in my wallet at all times...you just never know? If I see someone that has had some bad breaks and could really appreciate a few bucks that sounds like a good way to make both of our days!!!

Now for cards I will carry two one a debit for small items and amounts (gas, meals, etc,) with modest funds associated with it. I will stay away from any high end Debit cards with too much hacker and fraud worries. For the high-end I believe American Express has a Black Card with no limits and extra security if lost or stolen.

Furthermore, after my initial purchase of new home, autos and etc. with Cash and Invest all remaining monies. I plan on strictly living off my dividends and interest from my Principal. My Family Trust will be setup for Generational Income forever and ever...

what good is your money if the USD = $0.00. Good Luck with your trusts......assuming it domestic. Trusts = non liquidable asset. In the event the USD tanks, your trust is gone and you will not be able to access your funds in any respectable amount of time to transfer funds.

The USA has 99.4 trillion dollars of unfunded liabilities.... and growing. Our GDP is 14 trillion to date... and stabilized. Our national debt is 16trillion and growing. Ratios of debt to product output is ass over tea kettle. You better rethink your stategy if you think your going to have $ forever. You will have to at least look into buying into other currencies not pegged to the USD. or at least untill the debt crisis is over. Then again, maybe im wrong.:)

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rope Newbie

rope

Posted
Posted

Carry small amount of cash-no credit/debt cards. Here is another option.............(sent to me by a friend)

smile.gif

TRUE STORY FROM...

"THE HOUSTON HERALD NEWSPAPER"

IN HOUSTON , TEXAS

MARCH 5th, 2009

Last Thursday Night Around Midnight, A Woman From Houston , Texas Was Arrested,

Jailed, And Charged With Manslaughter For Shooting A Man 6 Times In The Back

As He Was Running Away With Her Purse. ~

The Following Monday Morning,

The Woman Was Called In Front Of The Arraignment Judge, Sworn In,

And Asked To Explain Her Actions.

The Woman Replied, "I Was Standing At The Corner Bus Stop

For About 15 Minutes, Waiting For The Bus To Take Me Home After Work.

I Am A Waitress At A Local Cafe...

I Was There Alone, So I Had My Right Hand On My Pistol,

That Was In My Purse, That Was Hung Over My Left Shoulder.

All Of A Sudden I Was Being Spun Around Hard To My Left.

As I Caught My Balance, I Saw A Man

Running Away From Me With My Purse.

I Looked Down At My Right Hand And I Saw That My Fingers Were Wrapped Tightly

Around My Pistol. The Next Thing I Remember Is Saying Out Loud,

"No Way Punk! Your Not Stealing My Pay Check And Tips."

~ I Raised My Right Hand, Pointed My Pistol

At The Man Running Away From Me With My Purse,

And Squeezed The Trigger of My Pistol 6 Times!

~

When Asked By The Arraignment Judge,

"Why Did You Shoot The Man 6 Times?

~

The Woman Replied Under Oath,

"Because, When I Pulled The Trigger The 7th Time, It Only Went Click."

The Woman Was Acquitted Of All Charges. She Was Back At Work, At The Cafe, The Next Day!

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