Do you want to keep cash or store it into your bank account?
By youless
@youless (112108)
Guangzhou, China
May 12, 2008 10:10am CST
I don't want to carry a lot of cash with me. First, it's not safe. Second, it's easy to spend much more money. Third, cash isn't very clean in my opinion. When I need money, I prefer to go to the ATM to withdraw the cash and that's very convenient. And since the credit card is very common and popular to use, so I don't want to have more cash with me.
6 people like this
17 responses
@faith210 (11224)
• Philippines
12 May 08
Hi youless! I don't carry a lot of cash either precisely because of the same reasons that you have. I usually have it in the bank and if ever I need some cash, i just withdraw at the ATM too. I am not being tempted easily on buying things when I don't have cash because I really don't like using the credit card unless I really need to. Take care and God bless! happy mylotting! 
3 people like this
@kbourgerie (8780)
• United States
12 May 08
I am bad about carrying my cash with me, because I get paid on a card instead of direct deposit or check. I get charged everytime I make a withdrawal, so I take it out all at once. So often times, I'm carrying around a few hundred dollars in my purse. Bad habit, I suppose. One of these days, I'll get around to opening an account. Just seems like I never have the time. I'm at work during banking hours. And on my day off, don't want to leave home.
3 people like this
@marciascott (25529)
• United States
12 May 08
Yes I want to keep a little cash, I have credit cards 6 and I have 2 Bank Accounts. I like to have money everywhere.
3 people like this
@aseretdd (13730)
• Philippines
13 May 08
I prefer to keep my money in the bank... and just hold on to a few... just for my allowance... and if ever i need to pay bills or buy groceries... i use my credit card... i usually only withdraw when i need to pay my credit card... that way i am not tempted to spend money on anything... i don't really like having a lot of cash with me...
2 people like this
@tigertang (1749)
• Singapore
23 Jun 08
It's not actually very safe to carry that much money around with you. Even if you don't run the risk of getting robbed, you also face the risk of misplacing your wallet and once you lose cash, it's gone.
Personally, I think it is important to have a bank account, unless you are an illegal immigrant. Allot of transactions require you to have a bank account and these days, people are very supicious of too much cash, thanks to anti-money laundering laws.
The other reason for having a bank accont is the fact that you can earn interest and get your money to work for you. I know most bank accounts pay a pathetic rate of interest (4% range in the US, UK and EU and a miserable 0.25% in Singapore) but its still better than not having any interest on your money at all. The key to increasing your money is to have it compound and the first place where you can get your money to compound is in a basic savings account.
Personally, I would try to avoid having credit cards because banks use them to get you to borrow money from them at outrageous interest rates. But do keep a debit card for convenience sake.
@moondan (712)
• China
13 May 08
I don't want to hold many cash im my pocket or wallet.
I think it is not safe.my memory is not very good .so losing things is common for me.i don't want to take so many ash around myself.Maybe one day i will lost them and i must regret and sad for a long time.
for another thing,there are many thives in the street especially in the busy street or on the crowded road.If we don't pay much attention to our bag,the money will lost within a short time.
Last but not the least,now there are so many automatic money get machines and banks in the citys.With one card,we can get our money from any bank,though it spends a few of tip.But safe is the most important.Taking enough money to eat,to buy what i plan to is ok.Most of the money i stroe it in my bank account.
@plumwish07 (4057)
• Indonesia
21 Jul 08
i think i made it 70-30 to hold in cash and store into bank account. i prefer not to use the savings in bank account as best as i can so i like to hold some of cash for my daily needs. going to ATM to withdraw some cash needs some of time and mostly also long queque
1 person likes this
@desertdarlene (8910)
• United States
13 May 08
I don't carry cash with me unless I know I'm going to need it at a particular place. It's much safer to keep your money in the bank. I also have the same problem with cash "burning a hole" in my pocket (i.e. it's too easy to spend and keep track of). Most places I go to will let you use debit cards without any added fees. So, I basically use cash as places that either don't take debit cards, or charge a fee to use them, like the gas station.
1 person likes this
@maddysmommy (16230)
• United States
13 May 08
I don't carry much cash on me either and usually use our ATM card to make purchases.
1 person likes this
@maddysmommy (16230)
• United States
13 May 08
How are you doing youless? I was thinking about you when I heard about the earthquake. I think quite a few of us are worried about you too.
1 person likes this
@kamran12 (5526)
• Pakistan
13 May 08
Hello youless!:-)
I, too, don't carry to much cash with me mainly because of same reasons as yours. Almost everything can be paid by my debit card. Plus, this way, I am out of worry not only from theft but also from accidentally dropping my notes or forgetting my wallet somewhere, where someone would rob me off without any effort.
But, I do keep some cash though, because the cards are not accepted below a certain amount of purchase. For example, at some places, debit card is only accepted if I make a purchase of more than 5 or 10 or 15 Euros!
I don't use Credit cards either, because I have experienced that I tend to spend more with credit card than I would normally do without it, which isn't quite good, for me at least!:-)
But, I do keep some cash though, because the cards are not accepted below a certain amount of purchase. For example, at some places, debit card is only accepted if I make a purchase of more than 5 or 10 or 15 Euros!
I don't use Credit cards either, because I have experienced that I tend to spend more with credit card than I would normally do without it, which isn't quite good, for me at least!:-)1 person likes this
@youless (112108)
• Guangzhou, China
13 May 08
Here if a shop can accept to use the debit card and credit card, then no matter how much the amount is, it will be acceptable. I like this way. When I traveled to Hong Kong, it's a little different. They accept to use cards when the amount is up to HKD100.
1 person likes this
@marababe (2503)
• Philippines
13 May 08
Hi! I keep my money in different places. I have some on my wallet, my drawer and my piggy bank. My ATM is closed already and I'm still going to apply for a debit card for my Paypal and also planning to open up a bank account of my own to make my money grow from interest. :) I also don't carry a lot of cash with me. I just estimate how much I'm going to need if I'm going out and that's the amount that I'll take with me. I like keeping my money safe. Cheers!
1 person likes this
@marciascott (25529)
• United States
14 May 08
I am with you. I like the ATM machine too. I do't like to carry a lot of money on me.
1 person likes this
@emmyemoney (251)
• Nigeria
14 May 08
You are right carrying cash this days has alot of risk. I rather left the money in the bank and work around with my ATM card. One can still use other means of payment for bigger transactions
@twowizdom (861)
• Philippines
13 May 08
hello youless,
i agree so much on your opinion. I, myself, also prefer to have my cash on my account rather than carrying it with me. Besides if you would carry a lot of money every time you go out of your house you would only put your self in danger because of those hold uppers around...
@lkbooi (16070)
• Malaysia
13 May 08
I prefer to use credit card when shopping as I don't like to bring along with me too much money. Anyhow I still have to bring along with me some cash because not all the outlets or food courts receive payment by credit cards. If need extra cash I always go to the nearby atm and have the problem solved. It is my habit to use away those dirty and smelly notes so as to make my purse more pleasant to be carried around.
1 person likes this
@chrissieatu (1033)
• China
13 May 08
I think I am just like you. I don't want to have that much with me. It's just not necessary. If I need more, I can just go to ATM and withdraw the amount I need. Besides, I don't want myself to spend more which is one of the reason why I don't keep cash with me.
