How Much Cash Do You Carry Around?
Don’t worry, I don’t need to borrow any money. I’m just curious to see how many people have started to use an envelope system to manage their budget categories. An objection that is often raised when discussing the envelope system is that people don’t want to carry around a ton of cash, I assume out of a fear of robbery. I guess I could understand this if I were asking you to carry around thousands of dollars in cash, though to a would-be robber, a purse with $42 in it and a purse with $4,000 in it look largely the same.
Right now, I have about $42 in my wallet, which is kind of low, but this is the last week of the month. Ordinarily, I carry around a little more than this, depending upon the time of the month and where I’m headed: when I go to the grocery store, I pay in cash, so I would be carrying around a little bit more. The main reason I don’t understand an aversion to cash is that you don’t have to bring it everywhere you go–I don’t carry around ALL of the cash in the budget, just what I might need that day. Most of the money stays at home.
But the biggest reason I like to use cash is I don’t have to think about it. It’s got the budgeting built in–when it’s gone, there’s no more left in the budget. With debit cards, you always have to go, “Well, how much have I spent on groceries so far? How much should I limit this trip to? etc.” Cash is so easy.
So how about you? How much cash do you carry around?