Many of us often wonder how much cash we should carry in our wallets, or is it good to carry cash?

Everywhere around us are bills, coins, and credit cards. As you surely know, all of these things relate to money. Money is something that makes the world go round, and it is probably one of the most important things in your life. Having money means you can buy what you want, pay rent, buy food, pay for education, etc.

It is very important to know how much money you should carry in your wallet so you don’t end up suffering from a big loss by losing cash or getting robbed!

Content shortcuts

Is it good to carry cash?

The first and most important rule is: you should not carry all your money in your wallet.

An ideal wallet should have both a debit card and a reasonable amount of cash. Having some cash in your wallet has numerous benefits, but at the same time, having your debit or credit card in your wallet can come in handy while making a considerable transaction.

The last this you want is to carry a huge amount of cash, get mugged, and then hitchhike to your home!

Always keep a very small amount of cash in your wallet/Purse.

For example, if you have 5$ in your wallet and someone attacks you, you will probably give them that money because it’s easier than risking being hurt. It’s best to have between 10$ and 50$.

Keep in mind that you should not carry all your money in your wallet. It is best to keep it in a safety deposit box or under your mattress. If that is not an option, then try to carry no more than 50$.

Pro tip: Do not carry your wallet in the back pocket of your jeans; that is where most thieves check for wallets. You should keep it in the Front patch pocket of your jeans because that’s where you can feel it if someone tries to pick-pocket you.

Never carry your wallet in the back pocket; always keep it in your front pockets or somewhere close. It’s not as bad as losing cash (if you don’t have a habit of carrying cash), but you can lose all the cards and IDs that may be inside it.

What if someone tries to rob you?

In case you get mugged: if someone takes your wallet and you start running after them, don’t keep pursuing them. They may panic and decide to get violent with you. In order to get your wallet back, call the police, although chances are the police won’t find them, or even if they do, the thieves may deny having the wallet.

If you are mugged, remain calm and give them what they want. It is not worth it to get injured or killed over a wallet.

Remember: you should not carry all your money in your wallet; it is best to have between 10$ and 50$, never keep it in a back pocket, and you should always look around after leaving the house and while walking on the street.

7 Reasons a Man Should Still Carry Cash

The world is changing. Everything is moving faster and faster, more efficiently through the power of computers—which leaves many people wondering if they really even need to carry cash. After all, why would a man want to hold onto a wad of notes when he can pay for anything he wants with a swipe of his credit card?

At the same time, it feels like cash is becoming obsolete. After all, when you can use cards to get practically everything—from your groceries to gas for the car—why would anyone still want cash?

The answer is that even though the use of cash is becoming less and less popular with every day passing, there are still lots of situations in which only cash can help us move forward.

1:It can save you from emergencies

If there’s one thing humanity has trouble with, it is emergency situations. It is hard to predict when an emergency will occur, how much it will cost, or even where to go to get the help you need.

To minimize this risk, carry some cash in your wallet or purse for emergencies. Many people in the modern age are dependent on cashless card transactions, but when you’re in a jam, that might not be an option.

Carrying some cash may not be the most innovative or groundbreaking advice, but it is still sound advice. Carrying emergency cash on you will help reduce the stress of an emergency by giving you access to money.

Sometimes the emergency isn’t that you need to pay for something but that you need an immediate ride someplace, and using cash is the only option to do that.

If you are stranded in a foreign country or city, then carrying local currency will help you figure out your way back to safety.

Carrying some cash will also ensure that you’ll have the money necessary to pay for a taxi or public transportation home.

2:To Tip the employees/ Service Providers

Carrying a little cash is a sound idea, especially if you’re going out to eat.

For example, six percent of the diners in a 2009 American Express survey said they typically leave no tip when paying with plastic, while 21 percent of the diners reported leaving less than the typical 15 to 20 percent tip.

While tipping is usually optional, it’s polite to leave a little extra for good service. If you’ve received excellent service, it’s appropriate to leave a 15 percent to 20 percent tip.

3:Places where You Can’t Use A Card

As more consumers turn to cards and electronic payment systems, the use of cash has diminished. But despite its decline in use, there are still some cases where it is necessary for men to carry physical cash.

For some places, carrying some cash is essential. For example:
At Casinos or Other Gambling Places – When you head out to play some cards, you might want to leave the plastic at home and carry cash instead.

Vending machines are also a great example of situations where you could need some cash. There are vending machines that accept cards, but most of the vending machines only take cash! So having a few dollars in your wallet can save you from a lot of hassle!

4:Mug Money

Chances are you might haven’t heard about this one ever, but it is not an uncommon practice. A lot of people carry some extra money,
let’s say $20, just in case they get mugged. They can give the mugger $20, and chances are he will leave you alone.

Although you won’t run into a mugger every other day. However, a wise choice would be to give the $20 rather than giving away your debit or credit card.

5:To discipline your spending habits

Having a credit or debit card with you all the time can surely be an amazing luxury. But at the same time, it can be the major cause of your reckless spending habits. Some surveys prove that people spend money seamlessly through debit or credit cards; however, think more than once when paying through cash.

Carrying some cash in your wallet as your total spending budget for the day can save you from buying useless things and can save you a lot of money.

6:To protect your privacy

The last thing you would want to do is to insert your debit card into an ATM machine in an unknown area and later find out that cash withdrawals happened from your account, and you were totally unaware of how it happened.

It happens to a lot of people. A credit card scam is not a new thing, and scammers are getting technologically advanced day by day.
It’s not even about inserting your card into an ATM machine in an unknown area anymore, scammers can now scan your credit card from your wallet, and you wouldn’t even know about it.

The smart move would be to carry your card in an RFID wallet which prevents unknown scans and try to ignore inserting the wallet at places where you’ve never been before.

7:When your credit card doesn’t work

It is not a completely new scenario, as it happens with almost everyone every now and then. You could be at a restaurant or at your grocery, and your credit card won’t work! You don’t reach your balance limit, but it’s the card’s chip that fails unexpectedly.

Now you are in a tricky situation because it was your only way of payment. You can simply ignore such scenarios by carrying emergency cash somewhere in your wallet.

Final thoughts on Is it Good to Carry Cash?

Even though the world is moving towards a cashless society and digital payments are the future, however, a handful of $20 bills always come in handy. You would often run into situations where your debit or credit card won’t be of any use, and in such a situation, having some cash in your wallet can make your life a lot easier.

You may also like to read: Things to Keep in your wallet.

FAQs