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This is something I am looking into, along with some other things, a few years down the road.
Are these things profitable? Safe? A good long term investment?
This is something I am looking into, along with some other things, a few years down the road.
Are these things profitable? Safe? A good long term investment?
I looked into once a number of years ago. Biggest problem was getting locations. If it would make sense to put an ATM somewhere, the owner of that location would just put in his own machine.
You know, they've been talking about the demise of paper money since credit cards were born. It may be minimized in the future, but I just don't see it ever going completely away. There's something about the feel of it in your hands that solidifies what it represents.
You know, they've been talking about the demise of paper money since credit cards were born. It may be minimized in the future, but I just don't see it ever going completely away. There's something about the feel of it in your hands that solidifies what it represents.
There is certainly something to the declining cash, even the banks see it
Yeah, sometimes I'm amazed at how many days I walk around without any cash at all. Plastic for everything, even a coffee at Dunkin' Donuts.
This is perhaps one of the reasons why so many Americans are in perpetual debt. If you have a $5 bill in your pocket and you're considering buying a coffee, sometimes it's tougher to spend that $5. But with a card it's like it's no problem. And not picking on you, it's just the way banks and credit card companies have viewed it for years and most people have bought into the convenience. And of course the more you spend, the more they make on fees from merchants and cardholders.
Now, are more ATM's the solution? Certainly not. And in their heyday they were making all kinds of money on convenience fees from people using other bank's ATM's. Do I use them? No I do not. But I set aside a set amount of paper money every week and I don't overspend it. I only use a card for purchases over $50 and pay that off in my grace period every month. I've been down that debt road, many moons ago, when I had to live off an AMX card for three months while I was getting my business up and running. It took a long time to dig myself out of that debt. And I never want to be in that situation again.
If I have $5 and buy a coffee that cost say $1.15, $3 makes it back to my wallet, .85c goes to my ash tray, bottom of my laundry basket or inside my couch. With my credit card I get 2% back and best of all no coins.
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