how much cash do you carry on average?

db2016 · 17 September 2017 at 8:00PM

Hi. Wonder if forumites can help me.

I'm doing some research for a business course about the cashless society.

How much cash do you carry on average ?

And also any input on when cashless has been your only option but failed or any opinions of when cash is king and the only option.

I personally withdraw around 200-300 a month and it gets used across the month. Rarely use contactless or pay on cards in the physical world. Online obviously I use debit card.

Djene · 17 September 2017 at 8:54PM

I rarely carry cash, I only ever have cash if I know I am going somewhere that does not take card. I never make bulk ATM withdrawals.

What I love about using card, whether its chip and pin, or contactless, I spend the exact amount I need to. I hate getting change, as if its less than 50p i'll just chuck it in the car somewhere, or ill put it in the change jar. With card there's no messing around with "oh hang on I might have that...20, 25, 40,..." transactions are seconds and I'm not walking along sounding like Santa, pockets jangling with coins.

I can see exactly what I have spent and where, at anytime on mobile banking, not keeping receipts and checking off my statement when it comes (not that it comes for me, paperless).

I think cash will always be around for now, but more ATM's may start to charge for withdrawals as more people start to use them less. I personally love the way its going in terms of financial technology. I'm 25, all of my friends barely use cash too. But my mum, dad, gran etc all use cash mainly, my mum in fact can't remember the last time she used chip and pin at a point of sale.

eastcorkram · 17 September 2017 at 9:04PM

Hardly ever more than £10, and usually less than £5.

db2016 · 17 September 2017 at 9:37PM

im 31, i must be a bit of an anomoly lol, young enough to be the chip n pin / contactless generation but still do things aka carrying cash a bit "old skool". i like the idea of seeing the money come out of the wallet and being handed over, it kinda makes me feel i respect it more than a number on a screen or page, as i physically handle it. also ive thought twice about buying things in that short space of time of getting wallet out and handing cash over (like martins mantras, do i need it etc)

Djene wrote: »

I rarely carry cash, I only ever have cash if I know I am going somewhere that does not take card. I never make bulk ATM withdrawals.

What I love about using card, whether its chip and pin, or contactless, I spend the exact amount I need to. I hate getting change, as if its less than 50p i'll just chuck it in the car somewhere, or ill put it in the change jar. With card there's no messing around with "oh hang on I might have that...20, 25, 40,..." transactions are seconds and I'm not walking along sounding like Santa, pockets jangling with coins.

I can see exactly what I have spent and where, at anytime on mobile banking, not keeping receipts and checking off my statement when it comes (not that it comes for me, paperless).

I think cash will always be around for now, but more ATM's may start to charge for withdrawals as more people start to use them less. I personally love the way its going in terms of financial technology. I'm 25, all of my friends barely use cash too. But my mum, dad, gran etc all use cash mainly, my mum in fact can't remember the last time she used chip and pin at a point of sale.

mt99 · 17 September 2017 at 10:08PM

I carry cash because occasionally my card doesn't work for example I was at a Shell station yesterday filled up with petrol try to pay with my card and they just said no it doesn't work.

I had just used it in the supermarket and it was fine so no idea what was going wrong. I had to pay with cash

EssexExile · 17 September 2017 at 10:10PM

I take out £200 at a time & keep going til it runs out. I tend to use cash for small amounts but the wife almost always uses a card.

trailingspouse · 17 September 2017 at 10:49PM

We withdraw £100 at a time, ie £50 each, which probably lasts us a couple of weeks. I use contactless wherever possible, as I get cashback on my credit cards and as the money is going to be spent anyway, I might as well get the cash back.

Biggest frustration is parking machines that don't take cards - particularly our local hospital, so that time between visits is spent getting cash for the next visit. Pleased to say they've recently put card machines in there. Welcome to the 21st century.

Love that we can now use contactless on the Tube, so much easier than either buying a day pass or using an Oyster card (I don't live in London, so used the Oyster card so rarely that I could never remember how much was left on it from the last time).

And just today found out that the pay machines for the drop off at our local airport now accept cards - we had a bit of a scrabble to find £3, but won't need to worry next time.

boliston · 17 September 2017 at 10:59PM

I probably draw 10 pounds in cash per week, mainly because i normally buy a cigar and the tobacconist charges for card purchases under 15 pounds - can't think of any other time i would ever use cash

Zanderman · 18 September 2017 at 7:55AM

We (both in our 50s) still use cash for at least half of 'small' purchases - milk, bread etc, though contactless is beginning to take over from that slowly. And we use cash in pubs etc - if only buying drinks. And car park machines etc.

So cash still makes sense to us but cards for most purchases over a tenner and increasingly contactless cards for lesser amounts.

There's still a real sense of 'spend' with cash - you know when it's gone and you know you have to get more. It's a useful, basic and foolproof way to control and monitor spending - no need to consult a smartphone. If/when we stop using cash so much I think we'll feel less in control.

I suspect there is huge variation across generations - older people using cash more than younger.

And, I'm guessing now, also geographically - city dwellers, particularly London, using cards and contactless more than those of us in the wider (real!) world.

There are still small traders round our way who can't/won't take plastic - so cash is essential, you'd just end up embarrassed and empty-handed if you carried less than a fiver!

JuicyJesus · 18 September 2017 at 8:22AM

I usually keep a tenner in my wallet. Everything else, where practicable, goes on cards. Or even usually Apple Pay. Spending using cash, at a minimum, robs me of some protection and accounting for where my money's going, and also of the cashback I make using my cards.

I often don't even take my wallet out with me these days. No need. Everywhere takes contactless, Apple Pay works just fine. Even our local taxi company can be called with an app and paid with a card these days.

PasturesNew · 18 September 2017 at 8:32AM

How much I carry will depend on how long it is since I took the money out.

I'll start with an amount of about £20 . After that I'll carry decreasing amounts until it's down to £0, which might be a week, or it might be a month ...

I like to have cash ... but it's not a lot and I tend to be spending £1-3 of it at a time. I'll use it for food shopping and £land.

Most of my life is "small spends", nothing big; no holidays, no eating out, no drinks, no activities... just mostly bread/milk at shops, or a packet of choccies from £land ... or 20-50p for a book at a car boot sale.

how much cash do you carry on average?

How Much Cash is usually in your wallet / purse? 48 votes

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