OldCoyote
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Post by OldCoyote on Aug 19, 2019 9:18:46 GMT -5
I thought it was against the law to refuse to take "Legal Tender". (Cash)
Please correct me if I am wrong.
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swamp
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Post by swamp on Aug 19, 2019 9:21:07 GMT -5
I am going to Disneyworld in October and plan on taking cash for my spending. It may be more of a hassle but at least I won't come back to a big credit card bill. Before I started using cards, my 18 year old daughter and I went on a driving vacation to Florida. I took a certain amount of cash and told her that when we spent half of it that was all the further we could go. I actually liked it better knowing that I had saved the cash and wouldn't spend more than I had. Why would you do that? put a spending limit on your magic band.
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hoops902
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Post by hoops902 on Aug 19, 2019 9:25:36 GMT -5
I am going to Disneyworld in October and plan on taking cash for my spending. It may be more of a hassle but at least I won't come back to a big credit card bill. Before I started using cards, my 18 year old daughter and I went on a driving vacation to Florida. I took a certain amount of cash and told her that when we spent half of it that was all the further we could go. I actually liked it better knowing that I had saved the cash and wouldn't spend more than I had. Why would you do that? put a spending limit on your magic band. My guess on the "why" based on other people I know...is that seeing the cash leaving your hand and having that constant reminder each time you pay out as to how much you have left...is a lot easier to reign in spending than adding a digital number to a tally and being surprised at the end of the day/week how much you've added to it. Even if you put a spending limit...you just tend to hit that limit much earlier when you're not using cash. I know plenty of people that if they said "Ok, I have 1000 limit on this vacation"...if you handed them $1000 in cash they'd spend $200/day for 5 days. If you handed them a card with a $1000 limit, they'd have it gone in 2 days.
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hoops902
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Post by hoops902 on Aug 19, 2019 9:26:53 GMT -5
I thought it was against the law to refuse to take "Legal Tender". (Cash)
Please correct me if I am wrong.
I believe you are wrong. I don't believe there is any federal law requiring businesses to take cash. I'll only speak to the federal side, because I don't know what all local/state laws might say on the topic.
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OldCoyote
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Post by OldCoyote on Aug 19, 2019 9:39:55 GMT -5
I do think this is Federal, it is to insure that someone cna pay cash,or Legal Tender, for what ever,
Let's say I have been buying property, I am attempting to make my last payment, the loan holder refuses payment, so the can repos the property. Or for paying a fine.
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Deleted
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Post by Deleted on Aug 19, 2019 9:50:37 GMT -5
I thought it was against the law to refuse to take "Legal Tender". (Cash)
Please correct me if I am wrong.
Most airlines now have "cashless cabins"- you can pay for meals and adult beverages only with credit or debit cards. I suppose it's permitted.
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hoops902
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Post by hoops902 on Aug 19, 2019 9:58:05 GMT -5
I do think this is Federal, it is to insure that someone cna pay cash,or Legal Tender, for what ever,
Let's say I have been buying property, I am attempting to make my last payment, the loan holder refuses payment, so the can repos the property. Or for paying a fine. There's a difference between "I'm paying a debt I owe you" and "I'm a business who is refusing to accept cash at the time of the transaction". The issue is, it's not for "whatever", it's for debts. It is legal tender for DEBTS, not for any transaction anyone ever wants to do. I believe you have to allow for cash for debts, because doing so causes problems (for example, you owe me $1000, I refuse to accept payment except for via my own credit card that I have which has a $5000 application fee, all sorts of potential issues with that). But if I'm holding a hamburger, and you're running the cash register, you can refuse to take cash for that as it is not a debt I owe you. You're simply refusing to go forward with the potential transaction. Similarly, if I say "to hell with you and your no-cash policy" and steal the hamburger...I can pay my reparations to you in cash and you can't say anything about...I just have to commit a crime and make it a debt to do so. When you create a debt situation, you're essentially agreeing to accept legal tender per my understanding...but prior to creating that situation there's no federal law that says any business has to accept any particular TYPE of payment...even cash.
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hoops902
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Post by hoops902 on Aug 19, 2019 10:00:17 GMT -5
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MN-Investor
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Post by MN-Investor on Aug 19, 2019 12:27:04 GMT -5
I'm like a lot of folks who rarely uses cash or checks anymore. One of the last places I consistently wrote checks to was my church. Since I'm an offering counter once a month for my church, I see all the envelopes with cash or checks. But times... they are a'changing. When you visit the church's online website, it lists other ways to give - through a website link, via paypal, or through texting on your phone. There's a contact number if you want to donate stock. One of the men I count with donates directly from his IRA. As for me, I donate through my donor advised fund. Ultimately it means that less money is dropped in the offering plate - easier for us to count! - but the money just streams in from other donation locations and that's a good thing.
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hoops902
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Post by hoops902 on Aug 19, 2019 13:16:32 GMT -5
I'm like a lot of folks who rarely uses cash or checks anymore. One of the last places I consistently wrote checks to was my church. Since I'm an offering counter once a month for my church, I see all the envelopes with cash or checks. But times... they are a'changing. When you visit the church's online website, it lists other ways to give - through a website link, via paypal, or through texting on your phone. There's a contact number if you want to donate stock. One of the men I count with donates directly from his IRA. As for me, I donate through my donor advised fund. Ultimately it means that less money is dropped in the offering plate - easier for us to count! - but the money just streams in from other donation locations and that's a good thing. Not sure what you've got access to in terms of info (counting cash or seeing all donations) but do you see any significant difference in total donations as electronic methods take up a larger portion of the overall? We talk some on these boards about how cash is a method some use to limit spending...I'm curious if the same trend continues in church donations or if it's actually the opposite or no change. Some of the psychological aspects here are interesting as well, and probably unanswerable...but I can see a variety of potential: -I donate electronically but don't want to look like I'm stiffing the offering plate so I donate electronically plus a nominal amount in person -I donate far less or not at all and don't have to worry about being seen as stiffing the offering plate since so many donate electronically and can use that as an excuse or at least a cover (or I see other people potentially not donating in person, and feel more comfortable doing so myself) -I make it a line item in my budget to donate and can make the same donation regularly rather than relying on having cash which seems increasingly outdated -Electronic donation may make the aggregation much more "in your face" where tossing in $100/week may never feel like much, but having an electronic aggregation showing $5200 may seem like much more. The sum of the parts feeling larger once I see the sum (another thing I think we talk about a lot on these boards, the aggregation of what many of us view as small-ish frequent expenses).
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OldCoyote
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Post by OldCoyote on Aug 19, 2019 13:34:53 GMT -5
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chiver78
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Post by chiver78 on Aug 19, 2019 15:38:09 GMT -5
Slightly tangential... mercedesbenzstadium.com/card-mobile-payment/I heard this story over the weekend. The entire Mercedez Benz stadium is going cashless. If you don't have a credit or debit card they have kiosks where you put in your cash and get a debit card in exchange. There are no transaction fees but what a pain! Interesting- Parking at Arrowhead Stadium near me is cash only and it's exorbitant- $25? Call me paranoid but I wonder how much gets skimmed off by the workers and how much actually gets reported for tax purposes. I wish the venues around here with paid parking were so exorbitant. lots in the area surrounding Fenway Park charge about that much just for nightclub traffic. if the Sox are home. that goes up to $40-60 for regular season and even more for playoff games.
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TheOtherMe
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Post by TheOtherMe on Aug 19, 2019 15:39:52 GMT -5
I'm like a lot of folks who rarely uses cash or checks anymore. One of the last places I consistently wrote checks to was my church. Since I'm an offering counter once a month for my church, I see all the envelopes with cash or checks. But times... they are a'changing. When you visit the church's online website, it lists other ways to give - through a website link, via paypal, or through texting on your phone. There's a contact number if you want to donate stock. One of the men I count with donates directly from his IRA. As for me, I donate through my donor advised fund. Ultimately it means that less money is dropped in the offering plate - easier for us to count! - but the money just streams in from other donation locations and that's a good thing. Not sure what you've got access to in terms of info (counting cash or seeing all donations) but do you see any significant difference in total donations as electronic methods take up a larger portion of the overall? We talk some on these boards about how cash is a method some use to limit spending...I'm curious if the same trend continues in church donations or if it's actually the opposite or no change. Some of the psychological aspects here are interesting as well, and probably unanswerable...but I can see a variety of potential: -I donate electronically but don't want to look like I'm stiffing the offering plate so I donate electronically plus a nominal amount in person -I donate far less or not at all and don't have to worry about being seen as stiffing the offering plate since so many donate electronically and can use that as an excuse or at least a cover (or I see other people potentially not donating in person, and feel more comfortable doing so myself) -I make it a line item in my budget to donate and can make the same donation regularly rather than relying on having cash which seems increasingly outdated -Electronic donation may make the aggregation much more "in your face" where tossing in $100/week may never feel like much, but having an electronic aggregation showing $5200 may seem like much more. The sum of the parts feeling larger once I see the sum (another thing I think we talk about a lot on these boards, the aggregation of what many of us view as small-ish frequent expenses). At the small (very, very small) church where I was the secretary until the Synod shut the church down, we felt donations went up when we let them pay via EFT. They didn't do Paypal or credit cards. A lot of people did not come weekly, but they donated weekly. It was more work for me because we were so small that I had to do the EFT transfers manually. I set them up in templates (weekly, bi-weekly, monthly) and went in to the bank account once a month and set up the transfers. I needed 48 hours notice to cancel. We paid the pastor bi-weekly the same way. I did that manually also.
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MN-Investor
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Post by MN-Investor on Aug 19, 2019 16:11:32 GMT -5
Not sure what you've got access to in terms of info (counting cash or seeing all donations) but do you see any significant difference in total donations as electronic methods take up a larger portion of the overall? We talk some on these boards about how cash is a method some use to limit spending...I'm curious if the same trend continues in church donations or if it's actually the opposite or no change. I only get involved in counting the offering and depositing it at the bank. I have discussed donations with the Financial Director of our church and she has told me that more folks are going with the various cashless options, but I don't know the details. For me, I make three donations per year. In the first half of the year I give 1/2 the yearly weekly giving plus a building fund contribution. In the second half of the year I give the second 1/2 of the yearly weekly giving. Actually, I gave an extra donation this year. In June they sent out an email telling everyone to dress cool for church on Sunday because the air conditioning had broken down and wasn't fixed yet. In response to that email, I made a special contribution to help pay for the a/c repair. The Financial Director sent me an email telling me how surprised she was to see my response. Most other people just complained.
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Post by Deleted on Aug 19, 2019 16:20:38 GMT -5
Slightly tangential... mercedesbenzstadium.com/card-mobile-payment/I heard this story over the weekend. The entire Mercedez Benz stadium is going cashless. If you don't have a credit or debit card they have kiosks where you put in your cash and get a debit card in exchange. There are no transaction fees but what a pain! I think it’s wonderful, I seem to always get in the line where the 10 people in front of me are paying cash and I watch the other lines fly past. I would love my home teams stadiums to go CC only.
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ilovedolphins
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Post by ilovedolphins on Aug 19, 2019 19:15:46 GMT -5
Why would you do that? put a spending limit on your magic band. My guess on the "why" based on other people I know...is that seeing the cash leaving your hand and having that constant reminder each time you pay out as to how much you have left...is a lot easier to reign in spending than adding a digital number to a tally and being surprised at the end of the day/week how much you've added to it. Even if you put a spending limit...you just tend to hit that limit much earlier when you're not using cash. I know plenty of people that if they said "Ok, I have 1000 limit on this vacation"...if you handed them $1000 in cash they'd spend $200/day for 5 days. If you handed them a card with a $1000 limit, they'd have it gone in 2 days.
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steph08
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Post by steph08 on Aug 19, 2019 19:51:59 GMT -5
Interesting- Parking at Arrowhead Stadium near me is cash only and it's exorbitant- $25? Call me paranoid but I wonder how much gets skimmed off by the workers and how much actually gets reported for tax purposes. I wish the venues around here with paid parking were so exorbitant. lots in the area surrounding Fenway Park charge about that much just for nightclub traffic. if the Sox are home. that goes up to $40-60 for regular season and even more for playoff games. Here, too. My dad is a Steelers season ticket holder and parking just went up to $60/game, even preseason. But, if you park four hours before game time, you can park for free at the casino. That requires him leaving at 7am to make the 9am cut-off for free parking for a 1pm game. Sheesh.
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haapai
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Post by haapai on Aug 20, 2019 16:44:29 GMT -5
I am really bad with credit cards. I can pay them off each month but I spend way too much with them. I usually don't even know how much I spend because I just swipe the card. I think I had a lot more money when I just used cash or checks. I have been thinking about going back to just them but I also like the rewards from the credit cards. Do you or do you know someone who just uses cash or checks....no credit cards. Back when there was a designated smoking area at my workplace, I knew lots of folks who didn't use credit cards. Some of them had lousy credit scores and finances that were way too tight to make secured credit cards work. Others were unbanked, and the reasons why they were unbanked would be worth talking about at length at some other time. (They weren't all about not wanting to admit to being in ChexSystem and they weren't all BS.)
And then there was me. I'd run up a bit of credit card debt in the early aughts (unemployment) and when I started getting paychecks again, I swore that I would stop using the cards and make at least double the minimum payments until it got paid off.
About two and a half weeks after making my first double payment, I found myself putting gas on the card in order to preserve the cash that would allow me to make the minimum payment. A serious investigation of my cash inflows and outflows followed.
I soon discovered that I barely had the wherewithal to make minimum payments on the credit cards. Getting rid of the (12% APR) debt was going to take a complete overhaul of my way of living and my approach to my finances. Until the credit card debt was gone, I would have to scrap my ideas about smart and sensible spending and switch into survival mode.
Needless to say, I developed an appreciation for the insidious nature of credit card debt. You can charge $75 or even $300 a month for many months and only pay $25 a month for a long time before running into difficulty making the minimum payment. By the time that the minimum payment, or even double the minimum becomes pinchy, you are in trouble and it takes some serious re-evaluation and austerity to turn things around.
I had to stop using the card in order to pay them down. Hell, I had to stop using them merely to figure out where I stood. And damn, did I ever learn a lot when I stopped using them for anything except a few automatic payments and dire you-will-be-fired emergencies.
My resistence to using credit cards regularly persisted for a long time after the cards were paid off. Even when I started using them again, I still retained the habit of paying them off multiple times a month for several years.
I still haven't gotten a card that pays rewards, mostly out of fear of how I will be tempted to use it. It's been over a decade since I killed off my credit card debt.
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wvugurl26
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Post by wvugurl26 on Aug 20, 2019 17:28:45 GMT -5
My Ravens passes were $46/game. Not the best lot but not the worst either in terms of access and traffic. Since I bought the one they sell on parking panda, I was able to cancel the 2 I won't be using and get my money back. I may cancel a third of we get a ride with our neighbor.
Even parking for college football is $20 unless we have a hotel in walking distance. I wish the Ravens passes were only $25/game.
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lynnerself
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Post by lynnerself on Aug 20, 2019 22:44:46 GMT -5
I spend pretty much whatever I want. So it doesn't really matter what form I use. Credit card rewards are nice. Cards are paid in full every month.
It's pretty surprising how few checks I see written at the grocery these days. And I hate to get behind someone writing a check because it takes so long.
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