Paper or Plastic?

[realist]

Paper or Plastic, no not bags, money. When you travel what do you normally carry or is it a combination. I find credit may only go so far but if the power is out then there will be a problem. I remember being in a market when the power went out, the customers were all concerned as to what to do since the credit system was down and no one had cash. I paid with cash and left although, the clerk had to figure out how much change to give me. When I travel I generally keep a large amount of cash with me but use the credit cards. The cash is split into two amounts one for emergency and the other is for tips and small purchases. Recently we took a trip to Arizona, first one in 10 years without kids. I was amazed at how fast the spending cash for tips disappeared. Everyone on and his brother expected to be tipped for things that were already paid.

So in a true emergency I would hope my cash would either get me home or at least part way. I generally have a mix of small and large bills. The large bills obviously taking up a smaller space. I found after this trip the small bills disappeared rather fast. If you only have a $100 bill and you need something but the person does not have change do you purchase the item and forget about the change? So after this trip I am reevaluating my strategy, I plan to carry much more in the small bills, five $20's are the same as a $100 bill but they are more versatile.

So how about you, what are your plans for emergencies. I know some of you go through hurricanes and floods so what do you suggest. Do you set minimums as to how much you carry? If you have suggestions they would be greatly appreciated. This would not be just for what I am carrying but also my wife and kids. My kids are adults in their 20’s and have their own GHB's.

[helomech]

I always keep at least 150 with me, no bills larger than 20.

[Sniper-T]

99% of my spending is via debit, but I always have cash as well.

day to day, I usually have no less than $200. on me, generally in $20's

Travelling, depending on where...
in remote back country Canada - I usually up it to $400, generally in $20's.
in the US, I will generally carry $100./day that I plan on being there, but I'll spend credit/debit.

Foreign...
depends on where, In the Caymans, I doubled what I carry in the US because everything was twice as expensive.
in Columbia, I kept $20. on me, in $1.00's, plus a handful of change.

[Stg1swret]

Cash is king. I keep an emergency stash of $200 in small bills. I have no credit cards, use a debit. When traveling the debit gets used, the cash only comes out in an emergency period.

[bacpacker]

Generally use a card for most everything other than small purchases. Keep at least 300-2500 cash on hand around the general area. Traveling that amount increases. I usually keep hundreds and an assortment of small bills. After reading thru this thread, I will be adjusting that to some degree.

[Katrina]

We do mostly plastic but traveling usually 200-600 in 20's or smaller depending on where we're going and how long we're out.

[mitunnelrat]

A combo of both, and cash varies depending on the trip duration and distance from home.

[Stormfeather]

Combo of both, but I keep 300-500 on hand at the house, and usually twice that if travelling. Will use the cards for the trip, but always have a backup plan.

[Sniper-T]

I dddn't mention home cash... I try to keep a couple thou in my safe, but sometimes life steps in...

This is a spread of paper and coin... not counting silver/gold


BP... 5500 or $500?

[bacpacker]

There I go typing on the phone again . Should have been 300 to 2500. The upper end is usually planned on Making a specific purchase. Edited the previous to correct
.

[realist]

I realize that thing called the pay phone is almost non existent but I also travel with a roll of quarters just in case we have to do laundry. I do not know about you folks but my debit card is now covered just like my other credit cards. I also have the limited amount in the debit account in case it gets compromised, I can always transfer more into the account.

[Sniper-T]

It is nice to see the States finally getting on board with Debit cards. They have been the main mode of transactions up here for over 30 years, it is still tough to use it down there, other than in an ATM

[Stg1swret]

I find it interesting you say you can't use your debit card down here other than in an ATM. Depending on the network and your bank, you may have to use it as credit to get an approval. I've had that problem in a few places. If i run the card as intended no go, but hit credit instead and instant aproval.

[realist]

I agree when I went overseas there was no problem using a debit card. I haven't been up in the Great White North for a few years so maybe I will have to try it this year.

[helomech]

It is nice to see the States finally getting on board with Debit cards. They have been the main mode of transactions up here for over 30 years, it is still tough to use it down there, other than in an ATM

I have used a debit card for at least the last 15 years with no issues. Just in the last year or so I started using a credit card for the protection and the rewards money.

[bacpacker]

I've used a debit card since 1999, but almost always run it as credit for the protection. Still. Omes out of my account.

[Willie51]

We don't use debit cards. Use CC for protection and to get points and rewards to get free stuff like Yeti coolers and other outdoor stuff. Always pay off when bill comes in. When traveling, I usually take $500-$1000 in mixed bills- $5 to $100 bills and some change for backup. Once we get home, the unused cash goes back in the bank. If power goes down, so does CC. Don't travel much outside of U.S. anymore, too much to see in the great U.S.A. :)

[Kesephist]

Well, the events of the last two hours were finally enough of a prod for me.

Paying my rent was a matter of using my debit card to buy a money order and then handing the money order over to the female at the rental office (can't call her landlady, she don't own the land and has manifestly proven she is no lady... but I digress.)

Come to find out that my bank has considered buying another money instrument as counting against my daily cash withdrawal limit via ATM. Which in my case is less than half of the rent.

So, fine. For the third time in the over five years I have been in this dump, I will be paying on the date due instead of before it... trotting down to WF and drawing the the cash out in person, and heroically restraining myself against telling them what to do and where to go when they ask what it's for.

I WILL be telling their bank officers that, hereafter, I will be maximum withdrawing within five days of every paycheck, leaving enough on the card for function and to allow Direct Deposit. Cash will be secured here, and I will make it a point after 5/2 to have no less than 4x$20, 3x$5, 5x$1 and a roll of 25c on exiting the quarters.

Not ideal, but what is, any more?

Gotta go... work calls and I am too damn red hot pissed at this to go in without cooling off.

Kesephist

Update:

Law has been laid down on the bank, above point cash on person as I type, rent paid. and just can't get over how NICE a roll of quarters feels in a fist. -K

[realist]

Breath in one two three breathe out one two three. Not as good as punching them but it does keep you out of jail..........and looking for a new place to live other than jail.

[Kesephist]

Too many cameras. Besides, the absolutely bovine, dumbstruck look when I told them off, and how things would be.. priceless. A right cross doesn't do near the damage to a control freak bureaucrat that taking away his control over things, even a little, does.

[Sniper-T]

strange...

I have a daily withdraw limit of $400 on my debit card, and a singular transaction limit of $1000 for my debit card...

this is for my money, in my bank.

But... if I give them notice, then they will change this (temporarily) to whatever I want.

With advance notice, I have taken $5000 USD from a gas station machine to pay for new tires

With advance notice, I have debit paid $25000 to buy my wife's latest car.

Oddly enough, if I wish to withdraw more than $10,000. in cash from my own account (my money), I have to give them at least 9 days notice AND I have to provide them with a reason to withdraw my own money.

and just so you know... 'Hookers and Blow' raises a flag. But I still write it EVERY time!

[realist]

Isn't it interesting we have to ask permission and give notice before we can take OUR money out of their bank.

One thing I never go anywhere is a money belt. I picked up one of these years ago and it has served me well. I also have dress belts too. The one below I can carry about fifteen bills in it. When I was traveling I carried $1,000 in it without a problem. I highly recommend them for everyday carry.
http://www.thewilderness.com/belts/the-wilderness-money-belt/

[helomech]

I never had to give notice or get permission to draw money. Only issue would be if they don't have enough on hand. I got 10k out the other day and was done in a few minutes.

[bacpacker]

I haven't had to give notice, or get permission before. Granted most of my withdrawls have been under $10K, but I have taken more a couple times with no issues.