Comments on: The End of Cash? http://www.gatherlittlebylittle.com/2007/09/the-end-of-cash/ Proverbs 13:11 - "...he who gathers money little by little makes it grow." Sat, 21 Nov 2009 03:27:42 -0400 hourly 1 By: glblguy http://www.gatherlittlebylittle.com/2007/09/the-end-of-cash/comment-page-1/#comment-2270 glblguy Wed, 28 Nov 2007 03:11:39 +0000 http://www.gatherlittlebylittle.com/2007/09/18/the-end-of-cash/#comment-2270 glblguy = Gather Little by Little guy. Couldn't come up with anything more creative :-)) Love your comment about "work at Walmart and survive". You're a great testimony for being debt fee (or at least mortgage free). glblguy = Gather Little by Little guy. Couldn’t come up with anything more creative :-) )

Love your comment about “work at Walmart and survive”. You’re a great testimony for being debt fee (or at least mortgage free).

]]> By: bmhumphries http://www.gatherlittlebylittle.com/2007/09/the-end-of-cash/comment-page-1/#comment-2269 bmhumphries Tue, 27 Nov 2007 13:53:30 +0000 http://www.gatherlittlebylittle.com/2007/09/18/the-end-of-cash/#comment-2269 Hi glblguy (what does that stand for?) I actually have a total of 7 sememsters left to pay for. My middle boy has three to go, and my daughter has 4. Being able to pay for college has been an unanticipated benefit of paying the house off. My wife and I made it a goal to pay that thing off and scrimped and saved to do it. I wanted the mortgage gone so that no matter what happened to my job, I could work at Walmart and survive. If I didn't have a house payment (or housing to pay for) we could get by on much less cash flow. Little did I know how handy it would be not to have a house payment each month when the kids went to college. I do not think we would be able to do it if I still had a house payment to make. Hi glblguy (what does that stand for?)

I actually have a total of 7 sememsters left to pay for. My middle boy has three to go, and my daughter has 4.

Being able to pay for college has been an unanticipated benefit of paying the house off. My wife and I made it a goal to pay that thing off and scrimped and saved to do it. I wanted the mortgage gone so that no matter what happened to my job, I could work at Walmart and survive. If I didn’t have a house payment (or housing to pay for) we could get by on much less cash flow.

Little did I know how handy it would be not to have a house payment each month when the kids went to college. I do not think we would be able to do it if I still had a house payment to make.

]]> By: glblguy http://www.gatherlittlebylittle.com/2007/09/the-end-of-cash/comment-page-1/#comment-2268 glblguy Tue, 27 Nov 2007 04:03:49 +0000 http://www.gatherlittlebylittle.com/2007/09/18/the-end-of-cash/#comment-2268 Hi bmhumphries and thanks so much for visiting! I've read the same studies/articles on credit cards and overspending. I'm a big fan of cash. I agree if you do the math, using a credit card mathematically works out better, but when you use cash you spent money you know you have. Congratulations on paying for private school with all cash! That is a great accomplishment! My kids are still young yet, but not too far off. I hope and pray I can say the same thing! I'm honored you love my blog and hope you continue to visit and comment. Keep us posted on the 7 years! Thanks again! Hi bmhumphries and thanks so much for visiting! I’ve read the same studies/articles on credit cards and overspending. I’m a big fan of cash. I agree if you do the math, using a credit card mathematically works out better, but when you use cash you spent money you know you have. Congratulations on paying for private school with all cash! That is a great accomplishment! My kids are still young yet, but not too far off. I hope and pray I can say the same thing! I’m honored you love my blog and hope you continue to visit and comment. Keep us posted on the 7 years! Thanks again!

]]> By: bmhumphries http://www.gatherlittlebylittle.com/2007/09/the-end-of-cash/comment-page-1/#comment-2267 bmhumphries Tue, 27 Nov 2007 02:48:06 +0000 http://www.gatherlittlebylittle.com/2007/09/18/the-end-of-cash/#comment-2267 That is interesting. Our family just moved from using our American Express for EVERYTHING in order to build up that cash back bonus to the old fashioned cash envelope system. We never carried a balance so I thought it was a huge win. However, the thought came to me of something I think Ron Blue had written. I know I don't have the number correct so I won't try, but he had quoted some research that people who use credit cards tend to overspend by a lot. As I thought about that, I realized that it was probably very true of us. Although I would get back ~$400 every year, I am willing to bet I over spent far more than that. So with two kidos in college for which we paying all with cash. By the way our oldest boy graduated last year from four years at a private college without any debt! Just 7 total semesters to go - say a prayer for us!), we need to keep a tight reign on the spending. Cash is a perfect way to keep on the straight and narrow. It is interesting, having lived in both worlds (plastic and cash) I have gone back to cash. When we were first married, we had to live that way as we didn't have any money! Then as my income grew, and we had paid off our house, I became rather lax, mainly because I could. I find living from the envelopes very satisfying and rewarding. I am sure you can come up with the numbers on paper on why it is better to use plastic that gives rewards, but it sure is nice not to see that bill every month (even if I could afford it). So I hope they don't do away with cash too soon! I love this blog! That is interesting. Our family just moved from using our American Express for EVERYTHING in order to build up that cash back bonus to the old fashioned cash envelope system. We never carried a balance so I thought it was a huge win. However, the thought came to me of something I think Ron Blue had written. I know I don’t have the number correct so I won’t try, but he had quoted some research that people who use credit cards tend to overspend by a lot.

As I thought about that, I realized that it was probably very true of us. Although I would get back ~$400 every year, I am willing to bet I over spent far more than that.

So with two kidos in college for which we paying all with cash. By the way our oldest boy graduated last year from four years at a private college without any debt! Just 7 total semesters to go – say a prayer for us!), we need to keep a tight reign on the spending. Cash is a perfect way to keep on the straight and narrow.

It is interesting, having lived in both worlds (plastic and cash) I have gone back to cash. When we were first married, we had to live that way as we didn’t have any money! Then as my income grew, and we had paid off our house, I became rather lax, mainly because I could.

I find living from the envelopes very satisfying and rewarding. I am sure you can come up with the numbers on paper on why it is better to use plastic that gives rewards, but it sure is nice not to see that bill every month (even if I could afford it). So I hope they don’t do away with cash too soon!

I love this blog!

]]> By: It’s Carnival Time! | I've Paid For This Twice Already... http://www.gatherlittlebylittle.com/2007/09/the-end-of-cash/comment-page-1/#comment-2265 It’s Carnival Time! | I've Paid For This Twice Already... Mon, 01 Oct 2007 15:49:37 +0000 http://www.gatherlittlebylittle.com/2007/09/18/the-end-of-cash/#comment-2265 [...] The End of Cash? posted at Gather Little By Little. Is the world becoming solely electronic? I am really starting to think so…. except I do cash craigslist business. [...] [...] The End of Cash? posted at Gather Little By Little. Is the world becoming solely electronic? I am really starting to think so…. except I do cash craigslist business. [...]

]]> By: Carnival of Money, Growth and Happiness #18 | Credit Card Lowdown http://www.gatherlittlebylittle.com/2007/09/the-end-of-cash/comment-page-1/#comment-2266 Carnival of Money, Growth and Happiness #18 | Credit Card Lowdown Mon, 01 Oct 2007 06:18:19 +0000 http://www.gatherlittlebylittle.com/2007/09/18/the-end-of-cash/#comment-2266 [...] presents The End of Cash? posted at Gather Little By Little. Discusses the growing trend towards electronic transactions and [...] [...] presents The End of Cash? posted at Gather Little By Little. Discusses the growing trend towards electronic transactions and [...]

]]> By: justin http://www.gatherlittlebylittle.com/2007/09/the-end-of-cash/comment-page-1/#comment-2264 justin Tue, 18 Sep 2007 17:09:28 +0000 http://www.gatherlittlebylittle.com/2007/09/18/the-end-of-cash/#comment-2264 @Köksbodskapitalisten: We don't really have these problems in the US, as credit cards give us an extra layer of protection from fraud. A fraudulent charge appears, you call the card company and tell them it's fraud, never have to worry about it again. @Köksbodskapitalisten: We don’t really have these problems in the US, as credit cards give us an extra layer of protection from fraud. A fraudulent charge appears, you call the card company and tell them it’s fraud, never have to worry about it again.

]]> By: glblguy http://www.gatherlittlebylittle.com/2007/09/the-end-of-cash/comment-page-1/#comment-2263 glblguy Tue, 18 Sep 2007 15:23:41 +0000 http://www.gatherlittlebylittle.com/2007/09/18/the-end-of-cash/#comment-2263 Köksbodskapitalisten, I think you concerns are dead-on. Just seems that the trend would show most people aren't concerned about it. Thanks for adding your thoughts on fraud and trust, I think they are important issues to consider. Köksbodskapitalisten, I think you concerns are dead-on. Just seems that the trend would show most people aren’t concerned about it. Thanks for adding your thoughts on fraud and trust, I think they are important issues to consider.

]]> By: Köksbodskapitalisten http://www.gatherlittlebylittle.com/2007/09/the-end-of-cash/comment-page-1/#comment-2262 Köksbodskapitalisten Tue, 18 Sep 2007 15:02:49 +0000 http://www.gatherlittlebylittle.com/2007/09/18/the-end-of-cash/#comment-2262 There is also the question of fraud and trust. As a customer I want to see the card reader. At a restaurant I won´t pick up my card until I have established that I am at a place where they come out with the card reader to the table. Here in Scandinavia that is still not the norm so I keep a few hundred crowns (official currency in non-Euro Scandinavian countries) in my pocket to be able to pay cash when I´m eating out. Similarly, at a non-reputable store I always use cash or a specific debit card with just a small amount on the connected account, to minimize any loss if my card number should get wings. There is also the question of fraud and trust. As a customer I want to see the card reader.

At a restaurant I won´t pick up my card until I have established that I am at a place where they come out with the card reader to the table. Here in Scandinavia that is still not the norm so I keep a few hundred crowns (official currency in non-Euro Scandinavian countries) in my pocket to be able to pay cash when I´m eating out.

Similarly, at a non-reputable store I always use cash or a specific debit card with just a small amount on the connected account, to minimize any loss if my card number should get wings.

]]> By: justin http://www.gatherlittlebylittle.com/2007/09/the-end-of-cash/comment-page-1/#comment-2261 justin Tue, 18 Sep 2007 14:38:46 +0000 http://www.gatherlittlebylittle.com/2007/09/18/the-end-of-cash/#comment-2261 I do kind of agree with some of the Visa commercials though, standing behind grandma as she counts pennies or remembers she actually has to pay and searches for her checkbook, then asks who she makes it out to can be time consuming. I do kind of agree with some of the Visa commercials though, standing behind grandma as she counts pennies or remembers she actually has to pay and searches for her checkbook, then asks who she makes it out to can be time consuming.

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