I know the debate between cash and credit has been going for decades. But I never thought things would swing this wide. First there was cash. Then there was store credit. Then, here in The Music Man credit was going out of fashion. Cash again? Well, at the turn of the century we swung back heavily into credit. So much so that I almost always have a wallet devoid of cash.
Most of the time, that's not a problem. Credit is taken almost everywhere I go. Where I can't use a credit card I can have use online bill-pay. This modus operandi became an issue on Tuesday night as I was getting ready to go on a business trip where I knew I would need some money to pay for a catered lunch.
Thinking cleverly, I stopped at the ATM of our local bank. No dice. With $1.24 in that account, there was now way I was going to get enough out of that account. [Editor's note: this particular account we only keep emergency cash in for yard saling, trips to the ice cream stand, and other cash-access needs. It never has much money in it.] What about our other debit card-- you know, at the bank where we keep money? I don't even know the PIN number to that, even if I did know where that card was. I don't know PINs to my credit cards either. Not that I would do that, because I think there's like a minimum $5 fee for cash advances. So what did I do? I took a checkbook to the grocery store, bough a carton of ice cream and a loaf of bread, and asked for cash back. Genius! I got just enough for the catered lunch.
Fast forward to the end of my first day on the business trip and I (dun, dun, duuuuun) saw the dreaded words "Toll Road" so yes, I went out of my way to avoid the toll because I was out of change and had no way to get any! Apart from those couple of hiccups, I survived the trip without any real surprises.
It reminded me of the days as a newly minted professional when I would go 15 or 20 minutes out of my way to avoid a toll booth in town. In the end, would that save me any money? Obviously I valued the 3 dollars enough that I was willing to take a few surface streets and tack on some time to my trip. In college, I remember avoiding going to the food court when I was hungry partly because I thought the $1.89 was better off in my account than providing me life-sustaining calories. Was money that hard to come by?
When I was a kid, I remember going with Dad to the credit union on Member's Day. That was the day when the credit union, with balloons, face painting, free hot dogs/hamburgers, had some outdoor activities to promote saving. To sweeten the deal, Dad always matched whatever money we would put in the bank.
The first year I remember doing it I earned in something like $18. The next year I think was more like $78. Life accelerated and I would put in $400. The last time I think dad offered the match I was depositing like $700 over the course of the year. Once Ben and I started mowing lawns and making $20-30 a yard (7 yards that I can remember Huang, Tirres, Sister 1, Sister 2, Ms Jordan, Solies, Dean), and babysitting for $15-30 a night, I think Dad decided he couldn't keep up the match. (Side note, this is when I first heard the term "fixed income." One of the sisters said, "Don't mow it too often, you know, I'm on a fixed income." I had no clue what she was talking about, except that she didn't want us to mow unless the grass was long.)
My point? $5 used to be a HUGE amount of money. Think of how many Fun Tunnel tokens that could get me! But it took alot of effort to earn.
- I remember when I could earn that much in a week's worth of extra chores (mow the lawn, vacuum the car, wash the car).
- I remember when I could earn that much in a half-hour of mucking stalls.
- I remember when I could earn that grading a half-a-class worth of math homework.
Sister 2 passed away recently...I had a chat with Sister 1 maybe 2 months ago?
ReplyDeleteI love Music Man...our local theatre did an EXCELLENT job of it ...last year? in the new THS auditorium. Tonight we are going there to see The Princess Bride!
I think more in $10 and $20...so the $10 we could spend at a fast food place would get us 20 cans of some food storage item.. or a gift subscription for someone for the Ensign for an entire year! and $20 we might spend at a low end restaurant... would get 25 pounds of something like oats or pinto beans and or 35 pounds of rice. Or a subscription to the church news ...once a week!
We always keep some change in the car...and emergency cash in with the registration. We would pay tolls without thinking about how to avoid them...I have gone to the store a few times and not had my credit card, or cash, or check. So that reminds me right now to stick a check in my wallet. Thankyou!
Aldi's (not in our town) which I love, only takes debit ( which I don't have..) and cash ( which I don't always have very much on hand...) and ...this is embarrassing..I have never used an ATM. Lame, I know. I plan to do it soon. ( probably need a pin, right?)
Before a trip, we always stock up on cash. Not alot, but enough. Depending on the plan and destination.
I liked the 'matching deposit years'. You boys especially were able to earn quite a bit to help with college, and had good work and money ethic. I was always so grateful that Dad and I had such similar understanding/values about money and work...which we largely got from our families. We both grew up as savers instead of spenders, for the most part...and were surrounded with hardworking, resourceful and creative people! It also helped that we both grew up paying tithing.
At BYU, I was on my own $$$ and never wanted to skip or miss a single class because I had figured out how many hours I had to work to pay for each individual class. Enough to tell myself that would be a bad choice, on my part.
Plus...of course...easier to keep up than catch up!
For a period of time, when you were all little, Dad used to give me $5 for each hour of his overtime money to save for something I wanted. That is how I bought the hutch in the sunroom! It adds up if you hold on to it! ( that was his way of helping me not feel so bad he was gone so much!)