What is the optimal amount of cash to carry in your wallet

[icarus]

How much money do you think is the optimal amount to carry around with you on a day-to-day basis? It seems I either carry too little and end up having to pay ungodly ATM fees or else I carry too much and end up squandering it recklessly on hookers and blow. Is there a happy medium?

[Reggie Dunlop]

Whatever your daily limit is. ATM fees remain constant per transaction, so you might as well load up. Ought to be enough for pin money for the week. Everything else goes on the card(s).

Using your bank ATM with no fees is of course better.

Hookers 'n' blow is a different story. That's a strictly cash-only business. Can't help you there. No idea what the going rate is.

[arsenal]

Carry your entire pay check, then tell me what path you plan to take home. Make sure there is a dark, secluded alley, and i will meet you there make sure you get through safe.
Repeat every 2 weeks.

[corporatejay]

this is a good question.

I say 80 dollars or so, depending on whether or not you buy lunch at work.

This can probably get you through a work week.

[kermitology]

Usually 60-80. It should last you about a week. Just use cash whenever you have to and credit card the rest

[renny]

Usually about $60 to $80 depending on whether or not I'm eating out for lunch. For the rest i just credit card it.

[gottabekd]

$200 is enough so that I rarely run out in one night. $400 if the hookers and blow are top notch.

[La Flames Fan]

Wow, I was actually just thinking this the other day because I NEVER carry cash, yet realize that there are places that don't interac (you don't take interac!?).

Thank you for clearing this up.

[ken0042]

The one trick I do is carry about $20 worth of "emercency cash." To make sure it stays emergency I have either an old style $20 bill, or an American $20 bill. That way I have it if the need comes up; but I really don't want to spend that bill.

Normally I only have $20-40 on me; as very few things don't take Interac.

[HelloHockeyFans]

I actually carry a lot of cash with me and prefer cash over plastic. The whole identity theft thing is a little too common now a days and I'd rather carry bills with me. In fact, I only take money out of my own bank's bank machines... NEVER those shady ATM machines in clubs or pizza joints, and I only use my credit cards for larger purchases or at nice restaurants. I never use my credit card at Chinese restaurants lol.

As for cash in the pocket, Monday to Thursday, I can usually get by with around $200... and that's only because of after work drinking on 3 of those 4 days... otherwise, I'd get by easily with around $60. Fridays and Saturdays vary depending on what's happening on those nights.

[BlackEleven]

I usually take out $100 at a time. I pay as much as I can on credit, and if they don't take credit (or my purchase is under $10), I'll pay cash. Then when I run out of cash, I go back to the ATM. Seems to work well for me.

[VANFLAMESFAN]

I carry about 100-200 on a daily basis.

[zukes]

I rarely have cash on me unless I'm golfing, and other than Tim Horton's, I rarely encounter somewhere that doesn't take Interac.

[GreenTeaFrapp]

Originally Posted by HelloHockeyFans

I actually carry a lot of cash with me and prefer cash over plastic. The whole identity theft thing is a little too common now a days and I'd rather carry bills with me.

I'm the opposite. I use plastic over cash as much as possible. But I only use my credit card, never my debit card.

If there are problems with my credit card, it's easy to fix. And since I use it so much my provider has a strong incentive to keep me happy.

Plus, I use a Citibank Driver's Edge card which gives a 2% rebate on all purchases. I've literally earned thousands of dollars because of this.

[StrayBullet]

Originally Posted by icarus

How much money do you think is the optimal amount to carry around with you on a day-to-day basis? It seems I either carry too little and end up having to pay ungodly ATM fees or else I carry too much and end up squandering it recklessly on hookers and blow. Is there a happy medium?

Hookers and 'cane is NOT "squandering your money recklessly".

[the_only_turek_fan]

I always carry 10 bucks or less. I always find my bills in the laundry a lot. I prefer to use my debit card.

[photon]

It's been months since I had cash in my wallet.

[urban1]

I use my CC pretty much everywhere. In the past, I found a lot of places downtown only took cash (mostly lunch or fastfood type places) but most of these have switched over.

I rarely use debit and even for that I have a card that linked to an account thats only used for that purpose so theres never a lot of cash in it even if it got skimmed.

Another plus of using CC is that it creates records of transactions. A lot of places dont give you receipts or give you terrible receipts that dont identify anything relevant on them. (ie. my dry cleaner) but when I use a CC I have proof of a transaction with them that they cant deny and worse comes to worse i can always do a chrge back if i have a problem.

Cash is only good when you go to out to a club or pub. Take out $200 at the start of the night and you know you wont spend more. (if you can control yourself)

Originally Posted by GreenTeaFrapp

I'm the opposite. I use plastic over cash as much as possible. But I only use my credit card, never my debit card.

If there are problems with my credit card, it's easy to fix. And since I use it so much my provider has a strong incentive to keep me happy.

Plus, I use a Citibank Driver's Edge card which gives a 2% rebate on all purchases. I've literally earned thousands of dollars because of this.

[I-Hate-Hulse]

I buy lunch every work day for $6-7 so that's a drain. I also pay cash at restaurants if I'm in a group to speed things up. With both of these I'll try and carry a float at the $120 level so I can miss a weekly fill and not always be looking for an ATM. I only use TD machines so I don't rackup Interac charges.

[The Goon]

The correct answer is $38.41.