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RE: Cash or card? (plus the wad of cash amount total)

in LeoFinance3 years ago

Personally, I rarely use cash at all. My debit card is well-worn in, though.

Not using cash serves a dual-purpose for me; I can track (as can the financial institutions) all of my purchases, but I can also tell my boys, "Sorry, I can't get you ice cream right now, I don't have any cash on me." (that will work until the youngest realises that the ice-cream place takes a debit card).

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Ah yes, the old sorry lads, no cash, no ice cream ploy. Smart man, smart. 😆

My debit card gets a hammering all week as I need to track, and claim, expenditure as tax deductions...The weekend I do sometimes also, but mostly it's cash. If I was off hunting for instance I fuel up with diesel and claim it so pay by card. If I was off on a (personal) road trip interstate I can't claim it so use cash. It works well. To be honest though, it's getting increasingly difficult to pay with cash and the looks I get when I fork over a couple hundred in cash...They're like 🙄, I'm like WTF, take the money mate, take it! Legal tender and all. I'm not sure if it's legal to refuse cash payment to be honest, I think it is though.

I know in the US (my current home) and Canada (my homeland), legal tender must always be accepted as payment if offered. I suspect it'd be similar elsewhere, otherwise the entire concept of legal tender would begin to crumble and the economy would find even wider forms of barter, which is super hard to tax.

I will admit, I do miss the days of my youth when I'd wrap a $20 bill around a fistfull of $1's to make myself look loaded.

I think it's the same here, legal tender has to be accepted...People are not though, accepting it I mean. Crazy times.