Beware the December pay trap!

backinbusiness

Hi Stu - or fire, or damage, or flooding or . . . 
I totally get what you are saying however at least in a bank you have some protection.

BiB x

Rob5342

It's not at all sensible to keep large amount in cash. Thefts from flats do happen, in fact the only person I know that has been burgled recently lives in a second floor flat.

I've never understood people saying seeing cash stops you spending it. Personally being able to see the balance on the app varying over time gives me a much better understanding than having to count the cash all the time.

stu12345_2

depends on what is a large amount. above £2000 is too large for the biscuit tin imo.
 I like seeing the money in my wallet these days up to max of £250, of course I use debit card too, on things I need, fuel etc
when  I see the wallet pile of £20's getting smaller physically , it deters me from spending on rubbish.

I'm not that old, I'm 55, but I still remember Bob monkhouse with celebrity squares bringing on the suitcase with £1000 in notes. that image has never went away. what  a pile of cash looks like versus 4 digit number on an app.

or as a child when my dad got his holiday pay from work in one go in summer, he had over £900 and I used to be able to count it for him and stack it in piles., before we set off for our 2 week holiday to Blackpool.

And I think it goes back to a time when I had a few months of problem gambling online, it was easy to just keep transferring another £40 to the site, just to play on. with a few clicks of a mouse 
but when you have the money in cash you think long and hard before you give it to a bookmaker or a fruit machine. or indeed a takeaway  or even a bottle of alcohol.
of course you can't ram £20 notes into your harddrive on your laptop physically lol.

 I don't waste money on alcohol, even if Tesco are doing Bailey's half price.
i'm not a drinker. I followed how Billy Connolly gave up alcohol 38 years ago when it stopped being fun
 that is what did it for me, it stopped being fun.

give me a beautiful cup of homemade roasted coffee anytime , rather than alcohol 

kimwp

stu12345_2 said:

depends on what is a large amount. above £2000 is too large for the biscuit tin imo.
 I like seeing the money in my wallet these days up to max of £250, of course I use debit card too, on things I need, fuel etc
when  I see the wallet pile of £20's getting smaller physically , it deters me from spending on rubbish.

I'm not that old, I'm 55, but I still remember Bob monkhouse with celebrity squares bringing on the suitcase with £1000 in notes. that image has never went away. what  a pile of cash looks like versus 4 digit number on an app.

or as a child when my dad got his holiday pay from work in one go in summer, he had over £900 and I used to be able to count it for him and stack it in piles., before we set off for our 2 week holiday to Blackpool.

And I think it goes back to a time when I had a few months of problem gambling online, it was easy to just keep transferring another £40 to the site, just to play on. with a few clicks of a mouse 
but when you have the money in cash you think long and hard before you give it to a bookmaker or a fruit machine. or indeed a takeaway  or even a bottle of alcohol.
of course you can't ram £20 notes into your harddrive on your laptop physically lol.

 I don't waste money on alcohol, even if Tesco are doing Bailey's half price.
i'm not a drinker. I followed how Billy Connolly gave up alcohol 38 years ago when it stopped being fun
 that is what did it for me, it stopped being fun.

give me a beautiful cup of homemade roasted coffee anytime , rather than alcohol 

If it works for you, it works. I can't imagine carrying £250 cash though, anything above £40 feels like a lot to carry.

enthusiasticsaver

EssexHebridean said:

Yes - it is the lack of interest (or rather - the very low amount of interest!) in the current account which means mine has been moved. better in my pocket than in theirs! 

Interesting one on Christmas spending - in one way I'm reluctant to stray into that territory as it doesn't entirely feel relevant to this thread and I'm also wary of more judgement/threadspoiling/point-scoring arising as a result. I will say though that we are a long way below your levels both in terms of actual spending (there are relatively few people we buy for these days however - our Mums, 4 nieces/nephews, each other, and a couple of close friends and that is the lot) and in terms of percentage. I'd expect that among the regulars on here a low percentage figure would be very far from unusual though? 

Yes that would make sense.  About 50% of our spending is presents and cash to our daughters/son in law and apart from a bunch of flowers to my mum and toys for the grandchildren and a few under the tree presents for DH and myself the rest is food/alcohol/entertaining.  We do not buy for sister, brothers or nieces/nephews on either side now. I just budget £100 per month so that is why ours is £1200. I think how much people spend very much depends on income and how much they put aside for it and how much they are prepared to spend.  I am reluctant to  go over my budget as for me Christmas is not only about the presents and food.  I appreciate everyone has their own take though so no judgement here. What I will not do is go into Decembers pay for Christmas though as that has to last longer than usual as January always seems a very long month.    

enthusiasticsaver

On the subject of cash I rarely use it these days but for some I know the feeling of cash and parting with it is harder than flashing a plastic card or phone so I do get why some deal only in cash.  Theft and fire would be a worry for me but I very much doubt anyone goes through our bank accounts to see what is in there unless you are a mega earner. I don't think they are allowed to go through bank accounts except if they have a police authority. I could be wrong on that though. 

kimwp

I got paid today as well (usually the 28th). My (electronic) payslip said 28th so I wasn't sure, though it usually is paid early in Dec.

stu12345_2

enthusiasticsaver said:

On the subject of cash I rarely use it these days but for some I know the feeling of cash and parting with it is harder than flashing a plastic card or phone so I do get why some deal only in cash.  Theft and fire would be a worry for me but I very much doubt anyone goes through our bank accounts to see what is in there unless you are a mega earner. I don't think they are allowed to go through bank accounts except if they have a police authority. I could be wrong on that though. 

have you not read in the news the DWP can access your bank account even if you are a pensioner claiming pension credit with housing  element, they want to know exactly what you have in savings, if you are claiming benefits  or help.

but those paying off debts on a dmp do not have to give authority to creditors to snoop in their bank accounts., cos they aren't allowed on an informal repayment arrangement.

hence the biscuit tin wins and so does the wallet and purse.

there maybe a time when the banking system fails online and only cash is accepted. for a very short emergency period of time.
didn't that happen to nationwide customers this week.
I went to a small shop the other day and owner said their card reader had failed, cash only. I felt very smug as I paid owner with cash.
one of my local  kebab shops only takes cash, but I think he is fiddling his takings to the inland revenue.

Rob5342

Have you checked what value of cash is covered by your home insurance? 

stu12345_2

I have never had home insurance in all my lifetime. except for a time for 3 years when I had building insurance when I had a mortgage on a flat I bought.