More and more people use electronic money to pay the bills. I've noticed people using EFTPOS for a $2 purchase. So I was wondering, how much cash do our readers tend to keep in their wallet? Are you worth holding up for a prompt payment, or will you be tortured for your pin number?
I'll kick off a survey in the sidebar, but leave comments here if you feel so inclined.
My mate was short of a $1-50 or so in the bottle store yesterday.
ReplyDeleteI had no cash on me, we found what we could laying around the car, so I had to use Eftpos to pay the remaining $1-50.
That's unusual. I thought people simply robbed bottle stores in Auckland.
ReplyDeleteSo why didn't your mate just put the entire thing on EFTPOS and keep the cash for next time? Or when we speak of a cashless society in NZ, does that apply even electronically, to everyone but Cullen and IRD?
Yeah - people buy a newspaper with EFTPOS. I usually carry about $40 cash.
ReplyDeleteThe thing that gets me is that thos who use EFT the most complain about bank fees. Que?
There is some disconnect there...
I usually use cash for amounts under $20.
ReplyDeleteI collect coins from the washing machine and bedroom floor in a money box so always have small amounts of cash at home and also have small change in the car for emergencies.
I generally have a few cents. I intend to keep more, but it never seems to happen. I use a credit card for pretty well everything, as it has no transaction fees, you get other benefits, and I then pay it off at the end of the month. In the meantime I can keep money in an interest bearing account and squeeze a little more out of the bank.
ReplyDeleteI am basically following the advice of my economics lecturer years ago, and it works well, provided you are disciplined enough to actually pay off the card.
Mr Dennis
I never carry cash and haven't in years. I don't even remember what a $20 bill looks like! Oh - and because I wasn't in NZ when the new coins came out I can't use them because I have only seem them twice.
ReplyDeleteI use EFTPOS for everything - but I don't pay fees regardless of the amount because of the type of bank account I have.