Dappered Classics: The Suggestion – Carry a $20 at all times

Dappered Classics: The Suggestion – Carry a $20 at all times

Why you should carry at least $20 in Cash – Plastic Costs More

Originally Published 2/2/2011.  Above Photo Credit: BenMadeska.com

Living on a budget doesn’t mean you should walk around without a sliver of cash in your wallet.  It’s just bad form.  Forget the fact that you look dirt poor if the only residents taking shelter in your billfold are a few random receipts.   Paying for something small with a debit card is actually kinda rude.  Not openly rude, but just unaware rude.

It’s akin to not holding a department store door open for a Mom pushing a stroller, even if she happens to be 10 or 15 steps back and you have to wait a few seconds.

It’s commonplace to use plastic everywhere for everything.  What many of us don’t fully realize is that swiping a credit or debit card costs that business money.  Sometimes, a lot of money.  All in the form of swipe fees that the business with the credit card machine foots the bill for.  You’ve probably seen the “no credit/debit purchases under $5.00” signs.  There’s a reason for that.  All those swipe fees add up, especially if it’s on small purchases.  That makes a big difference if you’re a cafe slinging dollar cups of coffee and $2.50 lattes.*

Is it really that big of a deal?  It must be at some level.  Especially if the feds want to set a swipe fee cap of $0.12.  (Sidenote observation:  If Barney Frank and Republicans agree on anything?  That’s a sign that the issue is at least… something)

So carry cash and use it.  At the very least you’ll make the wait shorter for the people in line behind you.

Boconi "Slimster" Wallet - $55.00

*Full disclosure: This was written after I ordered a cup of coffee, realized I had zero cash on me, and had to hand over my debit card to the predictably attractive barista, all while feeling like a total tool.  Don’t let this happen to you.

UPDATE: I had no idea this was such a divisive topic.  I just felt like a dope for having to sign for a $2.25 cup of coffee.  Next time I’m gonna go total rogue and pay with a personal check… (kidding)