I rarely have cash on hand. In my disclosure, I have not tried to break down why. When I first created a spending plan, I believed not carrying cash would help track all of my expenses and prevent spontaneous purchases. Also, as others have suggested I’ve previously budgeted a specific amount of cash each month and once it is gone – it is gone. Perhaps I’ve held over a bit of both, or maybe the convenience of technology; mobile payments, PayPal, Apple Pay, and debit/ credit cards being accepted almost everywhere plays a bigger role.
I’m observant of customer service and giving, although not in relation to one another, I am conscious of both at all times.
Of Customer Service – I remain conscious of it. Rising prices for goods, food and services however, in most cases there is a decrease in the corresponding customer service.
Of Giving – (Here I’m writing uniquely about folks ‘asking’ for money around the places that I work, shop and live.) Over the long Memorial Day weekend, opportunities abound;
The coffee shop. Great coffee, even better service. I did not have cash to leave a tip and reward great service.
The Church. There was a community church car wash to raise money for the cities homeless: clothing, toiletries, haircuts. I did not have cash on hand to make a donation. Also, I could have used a car wash.
The homeless person. I’ve written previously that I am a magnet for beggars. If the approach is that they need ‘spare change’ because they are hungry, without patting my pockets, I let them know that I do not have any cash on hand. I often offer to buy them food as was the case this weekend outside of a grocery store. This person declined.
Real recognize real.
It is at these times that I feel having cash on hand for these serendipitous occurrences; rewarding great service, helping others whom are genuinely interested in helping others and those that are generally in need of help is a disservice.
I read somewhere that my city’s homeless population is dwindling. I’m not sure if that is true or if it is more of an effort to push the homeless outside and away from the center city.
I wonder what the cost effectiveness for churches (or non-profits) to incorporate technology and offer a mobile payment option for community fundraisers to maximize the amount of sells or monetary donations.
I wish my barber would consider accepting mobile payments, this is one more service I never have cash on hand for. I’m fortunate that he allows me to double up a payment as it is a bit of an inconvenience to drive to an ATM to grab the cash needed.
How much cash do you keep on hand? What do you use it for?