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To an extent; it's probably cultural.
It takes a couple generations for full assimilation. I'd imagine where they came from there isn't widespread debit/credit card use.
This.
If you come from a place where cards are not common and you can't reasonably expect a check you drop in the mail to arrive at its destination without being stolen, you're unlikely to use cards and send checks in the mail.
Quote:
Originally Posted by [B
Sammy0220][/b]Im white and only use cash. I just dont want to have anything stolen. I do send checks.
That is hands down the worst reasoning for not using cards I've ever seen. If your card gets stolen, you call the bank and get a new one. If your cash gets stolen, you suddenly have no cash and are highly unlikely to get it back.
probably off the books, can you imagine life without taxes? on top of that claim welfare. Yes, it can be a reality in this country. We are the middle class suckers who pay all the taxes and get the least benefits.
There are many reasons why people like to use cash, especially $100 bills.
- Status symbol, showing off. (Look at me, I have all this cash! Watch me pay for this $2 soda with a $100 bill!)
- Doesn't trust banks.
- Cultural reasons, many minorities prefer cash.
- Cash is king!
- Cash business, under the table money.
There are many reasons why people like to use cash, especially $100 bills.
- Status symbol, showing off. (Look at me, I have all this cash! Watch me pay for this $2 soda with a $100 bill!)
- Doesn't trust banks.
- Cultural reasons, many minorities prefer cash.
- Cash is king!
- Cash business, under the table money.
When I worked at the bank, I cashed plenty of paycheck's and they all wanted mainly 100's. The primary reason given was to not spend it. It was harder to break that hundred but once broken the money flew out of their pockets.
It's much smarter to use cards IF YOU ARE A RESPONSIBLE PERSON! It's better on so many levels, whenever I go to CASH ONLY stores/restaurants, I feel like I'm throwing money away.
I haven't needed to pay for a plane ticket for the past 8 years because of my mileage credit cards.
I shop on Amazon for pretty much all my household items and use their credit card to get 3% cash back on all purchases made on their website.
I once lost my money clip, which had one credit card and some cash. I never saw the cash again, it was gone! The person charged $200 at Michaels on my credit card and my credit card company took the charge off since it was fraud.
The Target fiasco caused my Health Savings account company to suspend current card and reissue without notice, yet they are behind on getting new cards out. Chase may also be reissuing. So now dollars are tied up on plastic that doesn't work. Also given the homeland security rules and capacity to freeze your accounts without notice I may need to keep a stash of cash at hoe an some 20's in my wallet.
For the record many immigrants and or children of historically were "all cash" sort of persons. That is for various reasons they did not use traditional banks if possible. Reasons for this could be anything from fear of bank runs to simply not trusting or wanting anyone to know "their business". They either didn't want to know or care for the concept of their money being safer in a bank than stashed somewhere in their home or even person.
Remember in the Sopranos? Paulie Walnut's mother (well aunt, but we're not on that right now), living in a senior's complex tells him that one of the other elderly Italian ladies keeps the proceeds from the sale of her house hidden under her mattress. That was all Paulie needed to now! *LOL* He breaks in, kills the woman and steals the money which was in the tens of thousands.
Today however as many have already stated it is very difficult to open a bank account. Thus many Hispanics both legal and illegal have no other choice but to keep their cash on their person or whatever. Yes, it does often make them targets for crime (here in NYC they often travel in pairs or groups after work on their way home), but they really do not have other options.
It's much smarter to use cards IF YOU ARE A RESPONSIBLE PERSON! It's better on so many levels, whenever I go to CASH ONLY stores/restaurants, I feel like I'm throwing money away.
I haven't needed to pay for a plane ticket for the past 8 years because of my mileage credit cards.
I shop on Amazon for pretty much all my household items and use their credit card to get 3% cash back on all purchases made on their website.
I once lost my money clip, which had one credit card and some cash. I never saw the cash again, it was gone! The person charged $200 at Michaels on my credit card and my credit card company took the charge off since it was fraud.
We are responsible people (husband and I) hence the reason we use mainly cash, have no debt, have one business credit card for emergencies for the business and own absolutely everything we have because nothing has ever been financed.
We don't think the trade off is worth the cost for rewards mileage credit cards and the 3% "cash back" is not enough to even think about getting a credit card for personal use.
Nothing wrong with the way others do things we just don't believe in credit cards, financing, or debt outside of utilities and other necessities.
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