I try to pay for everything with cash. I have a debt and credit card and only use them on major purchases or in emergancies. I always pay cash at restaruants and fast food places. Most credit card info is stolen from those locations.
I am in 100% agreement with Mocoondo. I carry usually around $300 or so in cash. I try to never use cash if a credit card will do because my bank and the ATM both charge me a fee. When I get cash i get the maximum allowed to help offset these fees. I have been in an emergency side of the road situation where only cash was accepted. Luckily I had the cash and my motor home was fixed and I was on my way shortly.
Both retired. Travel with Nicky the Schnoodle. Son graduated and is teaching high school math. We still love our 2006 34' Allegro Bay XB and have 40,000+ miles on her.
Seems like we fall into the same category as many others - probably less than $50 at any given time. We use credit cards for anything over $10, since we get cash back.
I know Dave Ramsey says no to all credit cards, but I agree with Mocoondo. As long as you don't carry a balance it is convenient and cost effective. If you don't have the self-discipline to pay the card off each month, then cash and debit cards are your best option.
The other issue with credit cards is identity theft. Since debit cards today carry a credit card number, I think the risk is about equal. Most credit card numbers are compromised on-line, but places where the credit card leaves your sight, like sit-down restaurants could be an issue. When travelling in Canada last month, I noticed that at every restaurant that I used, the wait staff had portable card machines. The credit card never left my hand. I suspect we will see that in the US very soon.
I think how people travel and where they stay impacts how they carry and or spend money.
Most, if not all the Provincial Parks we stay in only accept cash. We need cash for firewood, treats etc. Laundromats needs change, the kids need cash for treats and activities.
Canada does not have any bills smaller than a $5.00. We start each season with a roll of Twoonies ($2.00 coins) and Loonies ($1.00 coins), and quarters. As well my camping float has another $50.00 in $5.00. So the float starts with $150.00. We replenish it was needed over the season.
Above does not include the money in our wallets, which would generally about $150.00 each.
Fuel purchases are put on debit for the most part.
Tazy, I think you are needlessly concerned about someone using a forum such as this to actually track someone down for reasons of theft. Not a lot of info regarding whereabouts of folks using their RV's.
Worry about fuel prices instead.
We always keep about $150.00 in the fifth wheel. Not in a safe since it's a small ammount. We use debit card for 99% of our purchases. I also have a cred card I use for internet purchases and small items I buy for the trailer or car just to keep them seperate from our day to day purchases. It's seldom we have to get into the cash.
I usually have $200 cash on me at all times. Make good use of the debit card every where we go...
My Posts are IMHO based on my experiences - PM me Roy and Carolyn
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I pay for everything by credit card but do always carry a significant amount of cash. If in a jam, greenbacks talk. The treat of being robber does not bother me. I am very capiable of taking care of whatever come my way.
RRinNFla wrote: I know Dave Ramsey says no to all credit cards, but I agree with Mocoondo. As long as you don't carry a balance it is convenient and cost effective. If you don't have the self-discipline to pay the card off each month, then cash and debit cards are your best option.
And therein lays the rub. If you don't have the self-discipline to pay your credit cards off each month in full *and* more importantly, only purchase things which you have the money to afford, then credit cards are the only way to go. Those who lack self-discipline are the ones who find themselves maxed out and over-extended in a short period of time.
I use a few different credit cards depending upon what I am purchasing. Each offers some sort of rewards program ... either miles, points, cash back, etc., so I am saving money there. I'm also using the banks money for free for at least a full billing cycle, so that keeps my own money safely tucked away in an interest bearing account for an additional month, which nets me more "free money" so to speak.
Take for example Target. I use their "Red Card" when I purchase items at their store. That nets me an immediate 5% discount right at the register. They "float" me for a billing cycle, so I continue to accrue interest on my money, so in the end, every time I shop at Target, it is as if everything in the store is on sale just for me.
Essentially, every purchase I make is ultimately at a 5-7% discount after all is said and done. THAT adds up when looked at on an annual basis.
Say the average family purchases $100,000 in goods and services over the course of a year. Doing so on a credit card and taking advantage of all awards programs and cash back incentives, that nets you about $5,000 in savings on an annual basis. $5,000 gets the average family one hell of a nice vacation to Hawaii every year ... or pays for a whole lot of RV related expenses.
Quote: The other issue with credit cards is identity theft. Since debit cards today carry a credit card number, I think the risk is about equal.
You have to read the fine print on your institutions' policies. In some cases you are on the hook, and in other cases you are not.
Between you and I, I'd rather be arguing over the disposition of someone elses money rather then my own which is why I always use a credit card. The credit card companies don't want to lose me as a customer, so they are always going to side with their customer. I've had to dispute several charges in my lifetime and in each case, the charges were immediately reversed and I never heard another thing about it.
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