Wednesday, December 30, 2020

I don't carry cash. I probably should.

I've carried a wallet since the age of 14. My first wallet was a Velcro job featuring a large logo of the 80s Australian band Men at Work.

As you might imagine, you couldn't keep the chicks off me.

If I had to guess the percentage of time over nearly four decades when there has been cash in my wallet, it would probably be something like 15% to 20%. Seriously, I seldom have actual currency in there.

Even in the mid-80s before I had a credit card, I rarely had cash on me. When I worked at Wendy's in 1986 and would get paid, I would almost immediately spend that money on Terry. It never lasted long.

(This was a great investment, by the way, seeing as how we've been together for nearly 35 years now. Rarely does a bet pay off so well.)

According to at least one website, however, my cash-less approach is not a good one.

The boys at suggest five reasons why a guy should still carry cash in the 2020s. The reasons are pretty much what you would expect:
  • To handle emergency situations that require cash
  • To tip more generously (since credit card tips are subject to card company fees)
  • To tip service providers who aren't directly involved in customer transactions
  • To discipline your spending habits
  • To protect your privacy
Still, I'm not running to the bank to grab cash any time soon.

For one thing, every time I have cash, my wife--the chief financial officer of our family--wants to know why I have it. I have to file a report whenever I want to get at my own money. (I'm kidding...sort of.)

Also, I find myself using Apple Pay and other electronic methods of payment more and more frequently.

So I'm good where I am. I should carry at least a little cash, admittedly, even if just for emergencies.

I'm definitely going to ask Terry if it's OK.


  1. Since adding one of those credit cards holders to the back of my cell phone case I haven't carried a wallet in years. I do have a couple $20s stashed inside my phone case in case I find myself in a situation where I need cash...although $20s don't work well for tipping - well works well for the receiver :)