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.

*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)