How much cash do you keep at home?

FrugalFranny

With the recent banking problems it probably would be best to have some cash about the house incase it all goes pear shaped. But then again, if it 'all goes wrong' big style then the money may not be worth the paper it's printed on.
Only got about £20 quid plus some in the 'spare change' jar.

The chap off the 'Russia Today' news network I used to watch, recommended people start buying silver, not just to throw a spanner in the works for the Government(s) (no idea what that bit was about, was half at the time asleep!) but as a sound investment at the time (silver prices were low at that point).
Back on the subject:
It might be risky keeping serious cash around in a high crime area, hard to say, and fire of course unless you have a 'fire safe' box.

aldredd

fattybumble85 wrote: »

And I don't think your comment really warranted a '!!!!!!'!

Especially as there really isn't as much difference in the card processing costs and cash handling costs as people may think there to be. (particularly when you take thefts / errors into account)
Heck, not that long ago Tesco look into opening a cashless store as a trial. Don't think it ever happened, but if they thought about then they must have figured it would be worth doing so.

hartcjhart

I dont think this thead is a good Idea,

for security reasons I would not advise anyone to reveal how much cash they keep at home
perhaps MSE towers would like to re-think this

[Deleted User]

hartcjhart wrote: »

I dont think this thead is a good Idea,

for security reasons I would not advise anyone to reveal how much cash they keep at home
perhaps MSE towers would like to re-think this

Thanks for your concern, hart. It's not really my money; only a photo I borrowed from Google Images.:o

It shows 217 million US dollars in cash plus only a few million in pesos and euros.

Photos is from a police raid on drug trafficers in Mexico City.

http://www.youtube.com/watch?feature=endscreen&NR=1&v=clHmPwmF2bw

Later reports says 'only' 205 million. The coppers probably wore coats with big pockets. :cool:

tescobabe69

savesnine wrote: »

Would anyone who ticked £10,000 like to take me out? lol

That would depend on :-
Your gender
Where you are
Where you want to be taken, and most importantly
......................

inicholson

relaxtwotribes wrote: »

I find it slightly odd that people do this and slightly odder than MSE people do it. But then again, maybe they do not realise that all such transactions cost the retailer a fee, which then goes back onto the price of the goods, making those goods more expensive for everybody.
!!!!!! at least carry £25 around with you for those tiny purchases.

I find it slightly odd too - I pay for everything by cashback credit card and assumed most moneysavers would (as Martin frequently advises) - I get about £100 a year back as a result. I wasn't aware that there were moneysavers who were on this site because they're concerned about reducing costs for retailers.

Remember that paying cash also costs retailers money as they have to pay Group 4, Securicor or another company to take it to the bank for them (although that creates jobs. This doesn't apply to very small retailers with little cash.

And £25 for tiny purchases? I consider a tiny purchase to be less than £1 (or €1 - thanks!), why would I carry enough cash for 2 dozen or so of those? I there's £10 in my wallet I feel like I have more than enough cash, if I'm going to the pub (or somewhere else that either doesn't take cards or I don't feel right paying with them) I'll go via a cash machine. Having said that all the pubs I go to will happily take a card for a round of drinks (but pay cash if you're drinking alone or buying just for yourself!).

stevemcol

relaxtwotribes wrote: »

I find it slightly odd that people do this and slightly odder than MSE people do it. But then again, maybe they do not realise that all such transactions cost the retailer a fee, which then goes back onto the price of the goods, making those goods more expensive for everybody.
!!!!!! at least carry £25 around with you for those tiny purchases.

..and if consumers used only cash, the savings made by the retailers would be passed back to us? I think not.
Retailers sell larger quantities of goods because of debit and credit cards. If these cards reduced retailers revenues, they wouldn't host them. !!!!!! then, get off your high horse and accept that many people don't feel the need to hold much cash.
I use a credit card for almost everything over a tenner. The retailers make a profit from me and I enjoy the Tesco points in return. Simples.

Sasahara2

relaxtwotribes wrote: »

I find it slightly odd that people do this and slightly odder than MSE people do it. But then again, maybe they do not realise that all such transactions cost the retailer a fee, which then goes back onto the price of the goods, making those goods more expensive for everybody.
!!!!!! at least carry £25 around with you for those tiny purchases.

Cash handling can cost significantly more than debit card payments.

PeteW

tescobabe69 wrote: »

Really ? You think someone with £10k an idiot, too stupid to invest in a safe?

Yes! Anyone who has large amounts of cash at home losing money to inflation, rather than locked up (and insured) in a bank earning interest is pretty much the definition of an idiot! Therefore I very much doubt they'd think to invest in a safe.

tescobabe69

PeteW wrote: »

Yes! Anyone who has large amounts of cash at home losing money to inflation, rather than locked up (and insured) in a bank earning interest is pretty much the definition of an idiot! Therefore I very much doubt they'd think to invest in a safe.

Mine is in a safe, probably losing £2/week, gutted. It would cost more than that in fuel to go get some out, never mind the time.