# Money-related things that may become obsolete



## debodun (Jan 4, 2020)

Passbook bank accounts and paper savings bonds seem to have gone the way of CRT TVs, VCRs, paper checks and landline phones. Everything is electronic. The young tellers don't even know what a passbook is.

I see the day when even paper money will be antiquated. Everything will be bought and sold with electronic "credits".

Whadda ya think?


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## CrackerJack (Jan 4, 2020)

I feel threatened as do many I know do and not just the senior generation. Digital wall to wall is fine but within it's bounds 

Scary when it comes to money and my money!! I dont like the sound of it one little bit


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## debodun (Jan 4, 2020)

I am "old school" myself. I refuse to do banking online since electronic banking is easily compromised, but it stresses me that when I hand a teller my passbook, they stare at it like it was a cow patty. I was in the local bank on Friday to get my bi-annual passbook update and the excuse this time was that their printer "wasn't set up".


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## CrackerJack (Jan 4, 2020)

I abhore the possibility of of a cashless society. Children are indoctrinated into the cadh card ethos from an early age over here and maybe in the USA and Canada. This to my mind is not good as cash handling teaches youngsters of a give and take mindset and my 9 yr old GD likes to have her pocket money in her little purse and count the coins and but her treats with cash. It also teaches children and youngsters generousity of popping a few coins in a charity box.

I told my Son how I feel and he respects how I feel and agreed with me despite of him using a card and rarely has cash.

As I said: I find the latest stance on an International scale scary and threatening


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## JustBonee (Jan 4, 2020)

I  personally  am there now,  and have been for a long time  ... hardly ever have any paper money on me.   When I do,   it  usually goes to the grandkids for good report card grades.

The kids  have a board game called Allowance that they like   to play on occasion.... teaches money handling.


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## debodun (Jan 4, 2020)

"Plastic" can lead to overspending. So many people in debt these days. When I reach in my wallet and there's little money, I know I have to lay low until the next pension check. Unfortunately, many businesses have stopped accepting paper checks and once you shell out cash, there's no guarantee you'll be credited with it. I ran into this at a doctor's office recently. The practice is under new management and they want their money up front. I didn't expect this and hadn't brought my checkbook. I paid with cash, then a few weeks later started receiving dunning letters from them. I called the office and they said there's no record of my paying! Now I'm not sure what to do. *It is against my financial and religious beliefs* to get a credit card and a fear of identity theft increases, also.

*Revelation 13:16-17*
And he causeth all, both small and great, rich and poor, free and bond, to receive a mark in their right hand, or in their foreheads: And that *no man might buy or sell, save he that had the mark*, or the name of the beast, or the number of his name.

*Revelation 14:9-12*
Then another angel, a third one, followed them, saying with a loud voice, “If anyone worships the beast and his image, and receives a mark on his forehead or on his hand, he also will drink of the wine of the wrath of God, which is mixed in full strength in the cup of His anger; and he will be tormented with fire and brimstone in the presence of the holy angels and in the presence of the Lamb. “And the smoke of their torment goes up forever and ever; they have no rest day and night, those who worship the beast and his image, and whoever receives the mark of his name.”


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## CrackerJack (Jan 4, 2020)

This to me is a form of bullying at your doctors , Debodun and totally unacceptable. Did you get a receipt for your cash? Stand firm with them and refuse to pay again if they continue to pester you.

I reside in the UK in England and the medical services are different to other countries and I dont know how they work. As you know we have the NHS here and though its not in good shape in many ways we are protected regarding money for treatment on the NHS but we pay for prescriptions per item. We can go Private if we choose to for treatments in hospitals.

I do hope things will be allright for you with this demanding letter wise


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## Catlady (Jan 4, 2020)

Everything has its pluses and minuses.  I do all my banking and bill paying and brokerage online.  I haven't been inside a bank for two years.  I only write a few checks a year and only to businesses that charge a fee for online payments (my HOA is one) and to small businesspeople with no charging ability (my handyman and other providers).  Eventually, if you live long enough, you will have NO choice but to adapt to the new cashless society.


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## CrackerJack (Jan 4, 2020)

Its getting this way in the UK. I do bank online have done for years and all okay but I  very cautious and check statements daily. 

We still have paper cheques and I use them from time to time. They are and will be phased out at some stage and ATM cash machines in our streets too. 

I hope I dont live to a very old age but Im 76 and could live another 10 plus years and quite frankly I have no wish to these days.


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## CrackerJack (Jan 4, 2020)

Bonnie said:


> I  personally  am there now,  and have been for a long time  ... hardly ever have any paper money on me.   When I do,   it  usually goes to the grandkids for good report card grades.
> 
> The kids  have a board game called Allowance that they like   to play on occasion.... teaches money handling.


 Looks good this Game. Looked it up on Google and may buy it for my GD.


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## debodun (Jan 4, 2020)

I remember Monopoly - teaches people to be ruthless money grubbers. LOL


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## Ladybj (Jan 4, 2020)

debodun said:


> Passbook bank accounts and paper savings bonds seem to have gone the way of CRT TVs, VCRs, paper checks and landline phones. Everything is electronic. The young tellers don't even know what a passbook is.
> 
> I see the day when even paper money will be antiquated. Everything will be bought and sold with electronic "credits".
> 
> Whadda ya think?


I agree.  I remember going into a sub shop about 5 years ago to buy a sub and I only had checks...I left my debit card home by mistake.  The cashier informed me they no longer accept checks.. a lot of places no longer accept checks.  I agree, we are headed to an electronic world.  I carry minimum cash on me.  It may be a while before paper money is antiquated but I see it coming.


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## Graysand (Jan 4, 2020)

I'm full blown digital for everything.  Haven't written a check in about ten years, use credit for everything and pay online in full at months end, get all my bills via eBilling to my bank and pay online,  give money to my kids thru Venmo, pulled $200 out at an ATM in 2018, still got about $120 in my wallet.  Can't imagine why anyone would ever use "cash"...


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## rkunsaw (Jan 4, 2020)

I pay with checks,  cash, credit cards and online. Not many checks these days but for most local businesses I pay with cash. I also keep cash at home in case of power outage due to storms.


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## Aunt Bea (Jan 4, 2020)

I like the anonymity of cash but I fear that the end is near, it won't be long before we just _bump_ phones to lend someone twenty bucks or purchase something at a garage sale.

The good news is that it will make it more difficult for traditionally cash-based businesses to cheat on their income taxes, individuals to hoard/hide money, and virtually eliminate the problems of purse snatching, counterfeiting, etc...

_“The measure of intelligence is the ability to change.”_― Albert Einstein


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## retiredtraveler (Jan 4, 2020)

debodun said:


> ".....I see the day when even paper money will be antiquated. Everything will be bought and sold with electronic "credits".
> Whadda ya think?


I'm waiting for it. I've used cc's since my early 20's for everything I could. I don't think there should be paper or coins.


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## debodun (Jan 4, 2020)

A few people that have come to my garage sale have tried to pay with a credit card. I wonder what makes them think a person having a private sale would have a card reader. They are just so used to whipping it out for everything. It still amazes me.


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## CrackerJack (Jan 4, 2020)

In the UK manty pay on their cards by the Contactless method and some find this questionable security wise.You dont insert the card into the machine just float it over the machine...don't like that either


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## retiredtraveler (Jan 5, 2020)

CrackerJack said:


> In the UK manty pay on their cards by the Contactless method and some find this questionable security wise.You dont insert the card into the machine just float it over the machine...don't like that either


I don't know that there is any security difference between contactless and strips. But, you do need to line whatever you carry your card(s) in with aluminum foil. The cards can be read by someone close to you with a handheld reader.


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## Don M. (Jan 5, 2020)

Credit cards are handy....IF a person pays the full balance when due.  Paying by cash actually helps reduce costs....as most merchants have to pay a "surcharge" of about 3% for the processing of credit/debit card transactions....and these costs Are passed along to the consumers via higher prices.  Paying by Cash is also Much safer....as there is always the possibility of a "skimmer" installed at gas pumps, ATM's, etc.  It is imperative that consumers monitor their credit/bank accounts regularly to spot any suspicious activity.  Also, sign up for e-mail notification of any transactions on your credit cards...the sooner any hacking is detected, the easier it is to resolve the problem.  

"Cashless" society may one day become a reality, but at this point it is far too easy for criminals to invade electronic transactions.  Then, there are things like "Bitcoin" which is proving to be little more than a Huge pyramid scheme.


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## Butterfly (Jan 5, 2020)

I use my credit card (the one reserved for emergecies and which has a high credit limit, to pay for just that --emergenies -- like when me refrigerator died on a weekend b July and I had to have a news one immediately,


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## TravelinMan (Jan 5, 2020)

rkunsaw said:


> I pay with checks,  cash, credit cards and online. Not many checks these days but for most local businesses I pay with cash. I also keep cash at home in case of power outage due to storms.



This is exactly what I do, too.  With checks I pay real estate taxes or a private party bill so that I can have a copy of the cancelled check.  Credit cards are used for shopping, both brick-and-mortar and online, and are paid in full each month.  I've just started to receive online bills, so I set up a separate email account just for that purpose.  Utilities are set up to be paid by credit card.  Cash goes to people like the 15 year old who rakes my yard or my neighbor who watched my dog when I am gone away.

But I do have a nice tidy sum of greenbacks in my safe just in case there is ever a catastrophic event and banks are closed and the internet is not available.  For the same reason, I store 15 gallons of water, too.

I view my bank accounts frequently and have it set up so that I receive text messages whenever my credit cards are used.

I think we are still a ways away from a totally cashless society and that is just fine with me.


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## StarSong (Jan 5, 2020)

rkunsaw said:


> I pay with checks, cash, credit cards and online. Not many checks these days but for most local businesses I pay with cash. I also keep cash at home in case of power outage due to storms.


Same here.  

These days most of my checks go for wedding and other large gifts, and to local trades people for remodeling, plumbing and other repairs because they charge a 3% fee for credit cards. I use a mix of cash and CC for other expenses, plus pay many bills on line. Never use a debit card, ever. Wouldn't even have one if the bank didn't require it for my checking account.   

We stopped accepting checks about 5 years before closing our business because we got stuck with bad checks. Most funds we recovered, but it was a P in A to chase people. Far easier to accept only online, credit card, or cash purchases. Period.


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## CrackerJack (Jan 5, 2020)

retiredtraveler said:


> I don't know that there is any security difference between contactless and strips. But, you do need to line whatever you carry your card(s) in with aluminum foil. The cards can be read by someone close to you with a handheld reader.


Ive got  security wallet sold in shops over here in UK designed to protect cards and do wonder if it actually works.


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## debodun (Jan 5, 2020)

Is there a penalty for having a credit card and not using it?


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## rkunsaw (Jan 5, 2020)

debodun said:


> Is there a penalty for having a credit card and not using it?


No, I quit using one that didn't give cash back. After 2 or 3 years they cancelled it.


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## retiredtraveler (Jan 5, 2020)

debodun said:


> Is there a penalty for having a credit card and not using it?


You won't establish a credit rating. That's a penalty in effect. Kind of depends on lifestyle. If you're not taking out loans, doesn't matter. If you do take out loans, a good credit score can get you lower interest rates.


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## Llynn (Jan 5, 2020)

My HMO started refusing to accept cash a few years ago. I've adjusted but deep inside I still don't like the policy.


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## Ladybj (Jan 5, 2020)

rkunsaw said:


> I pay with checks,  cash, credit cards and online. Not many checks these days but for most local businesses I pay with cash. I also keep cash at home in case of power outage due to storms.


I also keep cash on hand and reading your post, I will make it point to keep more on hand in case of power outage...great point.


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## Ladybj (Jan 5, 2020)

debodun said:


> Is there a penalty for having a credit card and not using it?


No, but there is a big penalty if you close it out.


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## Gary O' (Jan 5, 2020)

Graysand said:


> Can't imagine why anyone would ever use "cash"...


I use cash to keep my transactions to a minimum
...and I don't care for some entity tracking my purchases
.....and I buy/sell things with private folks

However, all bills and large transactions are auto or debit

I'd hate to see paper money disappear 
Because then, totally reliant on the grid, web, etc
Not good IMO


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## Ladybj (Jan 5, 2020)

Gary O' said:


> I use cash to keep my transactions to a minimum
> ...and I don't care for some entity tracking my purchases
> .....and I buy/sell things with private folks
> 
> ...


I SOOOOO AGREE!!!!


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## fmdog44 (Jan 5, 2020)

debodun said:


> Is there a penalty for having a credit card and not using it?


no


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## StarSong (Jan 6, 2020)

Ladybj said:


> No, but there is a big penalty if you close it out.


No penalty.


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## JustBonee (Jan 6, 2020)

StarSong said:


> No penalty.



Just a  lower credit score if that matters to you.


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## StarSong (Jan 6, 2020)

I cannot imagine not having a CC in our modern culture, though obviously some people manage without them.  So many transactions require them, or are far more conveniently conducted with their use. I got my first CC when I was about 20 years old.  No CC debt problems ever, nor any identity theft.


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## Butterfly (Jan 6, 2020)

debodun said:


> I am "old school" myself. I refuse to do banking online since electronic banking is easily compromised, but it stresses me that when I hand a teller my passbook, they stare at it like it was a cow patty. I was in the local bank on Friday to get my bi-annual passbook update and the excuse this time was that their printer "wasn't set up".



I continue to insist that online banking and bill paying is actually safer


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## JB in SC (Jan 6, 2020)

We use cash for groceries, a few other things. I use ApplePay at locations that accept it (it doesn't reveal your CC number and is only good for that particular transaction). Bank online but still carry cash. I write checks only if necessary. Now days merchants run them electronically and who knows where they go. No thanks....


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## Ladybj (Jan 6, 2020)

StarSong said:


> No penalty.


The penalty is it effects your credit score. It drops your credit score a bit.


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## OneEyedDiva (Jan 7, 2020)

Paper money is on it's way out in some places. Some places are resisting going cashless. I only use cash now for things that cost less than $8. I usually only write one check a month and that's because the system for paying our carrying charges (co-op speak for HOA fees) only excepts checks.  I still have a passbook but it's one in which I record entries myself after the initial deposit. These days your banking information can be compromised whether you bank online or not. And if you are still receiving paper statements the risk is definitely there.  I don't trust the mail delivery system these days. In fact, just the other day, mail was placed on top of our boxes for someone at a completely different address...no where near our complex.


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## StarSong (Jan 8, 2020)

OneEyedDiva said:


> I don't trust the mail delivery system these days. In fact, just the other day, mail was placed on top of our boxes for someone at a completely different address...no where near our complex.



I agree 100%, Diva.  We get some of our neighbor's mail a couple of times a month.  No reason to suspect they're not getting ours with the same frequency.


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## Catlady (Jan 8, 2020)

OneEyedDiva said:


> I usually only write one check a month and that's because the system for paying our carrying charges (co-op speak for HOA fees) only excepts checks.



I love paying with credit cards and also online, even my brokerage and IRA, would hate going back to checks and cash and physically going to banks.  But, my HOA charges me $4 for an online payment, so I mail them a check four times a year (they charge quarterly).  I also started an online savings account  with Discover, want to keep it separate from my other savings account and use it for an emergency fund (they pay higher interest).

*Do you, and other posters*, think the online banking is safe, since the emergency fund will eventually top $5000. I'm a little leery about it, I trust my physical bank more, but I also have a credit card with Discover.


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## Aunt Bea (Jan 8, 2020)

It seems like the less mail I get the more issues I have with it being delivered to my mailbox.

I signed up for USPS Informed Delivery after terry123 mentioned it in another thread several months ago.

https://informeddelivery.usps.com/box/pages/intro/start.action
It does help to let me know what should be arriving.

As far as online banking accounts being safe, if they are FDIC insured the only issue should be accessing them in the event of an emergency.

I spread my emergency fund around and keep a little in the sugar bowl, a little in the bank and a little in my brokerage MM account.

Living in an apartment and having a guaranteed retirement income has reduced my need for a large emergency fund similar to the ones recommended for younger working folks that may face a period of unemployment.


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## Catlady (Jan 8, 2020)

Aunt Bea said:


> As far as online banking accounts being safe,* if they are FDIC insured *the only issue should be accessing them in the event of an emergency.
> 
> I spread my emergency fund around and keep a little in the sugar bowl, a little in the bank and* a little in my brokerage MM account.*
> 
> Living in an apartment and having a guaranteed retirement income *has reduced my need for a large emergency fund *similar to the ones recommended for younger working folks that may face a period of unemployment.



Yes, they are FDIC insured and pay 1.70% interest.  Discover also has no fees and no minimum deposits or balances, I like that.
I thought of doing that, but know I will be tempted to use the money to buy a stock too good to pass.  LOL Stocks are like gambling to me.
Yes, that is one of the benefits of renting that I like and also having all your equity available to you instead of tied up.  I still like owning, though.


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## Ruthanne (Jan 8, 2020)

My brother says "no one uses a landline anymore!"  But I still  do!  I have 2 phones; one in the living room and one in the bedroom. 

There is always at least one that is fully charged.  I think it's a good thing in case of emergencies especially.


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## Ladybj (Jan 8, 2020)

I never could grasp the concept that I have to pay a company to pay a bill, I have to pay to give them money....WOW!!!


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## Ken N Tx (Jan 9, 2020)

Ladybj said:


> I never could grasp the concept that I have to pay a company to pay a bill, I have to pay to give them money....WOW!!!


Which company would you have to pay??


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## Catlady (Jan 9, 2020)

Ken N Tx said:


> Which company would you have to pay??


I don't know who Lady is talking about, but my HOA charges $4 to pay online, so I mail them a check every quarter.  You would think it would make life easier for them to get payments online.


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## AprilSun (Jan 9, 2020)

Ruthanne said:


> My brother says "no one uses a landline anymore!"  But I still  do!  I have 2 phones; one in the living room and one in the bedroom.
> 
> There is always at least one that is fully charged.  I think it's a good thing in case of emergencies especially.



I still use a landline also. I don't want to take a cell phone with me all over my house. I have three landline extensions in this house so I'll be close to one of them when they ring.


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## oldmontana (Jan 11, 2020)

When I started investing when I purchased shares in a stock I would receive a stock certificate.


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## Butterfly (Jan 11, 2020)

Catlady said:


> I love paying with credit cards and also online, even my brokerage and IRA, would hate going back to checks and cash and physically going to banks.  But, my HOA charges me $4 for an online payment, so I mail them a check four times a year (they charge quarterly).  I also started an online savings account  with Discover, want to keep it separate from my other savings account and use it for an emergency fund (they pay higher interest).
> 
> *Do you, and other posters*, think the online banking is safe, since the emergency fund will eventually top $5000. I'm a little leery about it, I trust my physical bank more, but I also have a credit card with Discover.



I do all my banking online, but the accounts are actually with brick and mortar banks.  

I think online banking is safe, at least as safe as writing checks.  I've been doing it at least 15 years now with no problems.

By online banking, do you mean having an account with a bank that is ONLY online, or do you mean doing all your banking online?


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## Liberty (Jan 11, 2020)

Catlady said:


> I love paying with credit cards and also online, even my brokerage and IRA, would hate going back to checks and cash and physically going to banks.  But, my HOA charges me $4 for an online payment, so I mail them a check four times a year (they charge quarterly).  I also started an online savings account  with Discover, want to keep it separate from my other savings account and use it for an emergency fund (they pay higher interest).
> 
> *Do you, and other posters*, think the online banking is safe, since the emergency fund will eventually top $5000. I'm a little leery about it, I trust my physical bank more, but I also have a credit card with Discover.


Personally I do think credit cards and your "sock" are the way to go for emergency funds.  Banks close on the weekends and online facilities are , well, online. Almost everyplace  takes credit cards. Normally you can get back up to 5% for using a favorate card, like Amazon. We write checks for our home maintenance, like mowing or repair, but otherwise - nope.  Haven't used an ATM machine for decades.

Do think I'd be tempted though if a highly accredited online bank, like Chase, etc., offered a higher CD rate than my local bank did.  We tend to stick with our local bank for "interest bearing" accounts. Right now, our local bank pays the highest CD rates - higher than the on line.  They realize the need to compete with them.


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## Catlady (Jan 11, 2020)

@Butterfly -  Yeah, I meant an online bank only.  I do all my banking online with my local bank, but wanted a savings just for an emergency fund, to keep it separate from my other savings.   @Aunt Bea said Discover should be safe if FIDC insured, and it is and I also have a credit card with them.  And they pay 1.70%, my credit union pays less than 1%.

@Liberty  - Initially I thought of using one of my credit cards as an emergency fund, I have one with $25K credit line and paid off in full each month.  But the problem with that is if I need to use it I will then have to repay it and I have a small income with very low extra left over money to spend, so saving the money slowly each month is best for my situation.  I won't have to repay the bank emergency fund if I can't.


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## Liberty (Jan 11, 2020)

Catlady said:


> @Butterfly -  Yeah, I meant an online bank only.  I do all my banking online with my local bank, but wanted a savings just for an emergency fund, to keep it separate from my other savings.   @Aunt Bea said Discover should be safe if FIDC insured, and it is and I also have a credit card with them.  And they pay 1.70%, my credit union pays less than 1%.
> 
> @Liberty  - Initially I thought of using one of my credit cards as an emergency fund, I have one with $25K credit line and paid off in full each month.  But the problem with that is if I need to use it I will then have to repay it and I have a small income with very low extra left over money to spend, so saving the money slowly each month is best for my situation.  I won't have to repay the bank emergency fund if I can't.


So when you are talking about an "emergency fund" you mean an EMERGENCY FUND...lol.  What type of emergencies do you think you might need that amount of funds for so quickly?


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## Catlady (Jan 11, 2020)

Liberty said:


> So when you are talking about an "emergency fund" you mean an EMERGENCY FUND...lol.  What type of emergencies do you think you might need that amount of funds for so quickly?


Well, my cookie-cutter house was built for me 14 years ago, and that's when appliances and other stuff start to need to be replaced.  A new AC is a minimum of $5000 to replace, appliances are getting more and more expensive etc.  My gas water heater got a leak a couple of years back and that cost me $950 for a new one.  I could pay with the credit card, but then would need to pay it off and I don't have a lot of income leftover after my regular expenses.  So, when I have a little extra money leftover I'd like to put in that fund for when things stop working so that I can stop worrying.


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## Liberty (Jan 11, 2020)

I see what you mean, Catlady... one of the neat things is to use the credit card to buy something and then pay it off with no interest, getting the rebate  2-5% the card might offer.  

Hopefully, you won't have a flock of big stuff hitting you at one time. You are so right, generally replacing big stuff is more expensive now days.  Makes me keep my old appliances as long as they keep working!


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## Catlady (Jan 11, 2020)

Liberty said:


> I see what you mean, Catlady... one of the neat things is to use the credit card to buy something and then pay it off with no interest, getting the rebate  2-5% the card might offer.
> 
> Hopefully, you won't have a flock of big stuff hitting you at one time. You are so right, generally replacing big stuff is more expensive now days.  *Makes me keep my old appliances as long as they keep working*!


 Me, too, and I LIKE my old appliances.  My electric stove only has two small burners working, the two big ones died a couple of years ago.  I like my Whirlpool stove and don't want to buy a new one but fixing it will cost about $250, almost half of a new decent stove.  So far I've been making do with the two small burners.


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## Ken N Tx (Jan 12, 2020)

Catlady said:


> I like my Whirlpool stove and don't want to buy a new one but fixing it will cost about $250, almost half of a new decent stove. So far I've been making do with the two small burners.


Is it a smooth top range?? Here is a video that might help..
.


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## StarSong (Jan 12, 2020)

My gas double wall oven and range top are 31 years old, and were reinstalled during our complete kitchen remodel a few years ago.  Not only was I shocked at what it would cost to replace them, I found that getting a new gas double wall oven was a virtual (if not actual) impossibility.  They're just not available anymore.  

Our stovetop's igniter hasn't worked in decades. It went on the fritz within a couple of years so we got it fixed.  Stopped working again less than a year later and kept making a clicking noise.  Hubby unplugged the electric but left the gas line alone.  We've lit it with matches or stick lighters ever since.  I know so many people in the same boat- it seems stovetop electronic igniters just don't last very long.  

If any of the burners stopped working I'd replace the stove top, but it works well and looks like new.  The oven works great.  DH has replaced the oven's igniter every ten years or so, otherwise it's been trouble-free.  Same goes with our gas dryer.  

So glad to be married to someone who's handy. What he doesn't already know how to fix, he learns from the gods at YouTube.


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## Catlady (Jan 12, 2020)

Ken N Tx said:


> Is it a smooth top range?? Here is a video that might help..
> .


No, I hate the smooth ones, mine has the burners.  I don't trust myself with anything electric, so would not attempt doing it myself.   The kit to replace all four burners is about $70 plus shipping.  Seems that all 4 need to be replaced for some reason.  I'm dragging my feet because I can still get by with the two small burners, but someday I'll end up with only one and that is not okay.  LOL  I'm thinking, I'm thinking.


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## Liberty (Jan 12, 2020)

Catlady said:


> Me, too, and I LIKE my old appliances.  My electric stove only has two small burners working, the two big ones died a couple of years ago.  I like my Whirlpool stove and don't want to buy a new one but fixing it will cost about $250, almost half of a new decent stove.  So far I've been making do with the two small burners.


Probably two small burners and a slow cooker is all you really would normally need anyway!  I've got an inexpensive countertop oven that I've used to do "test kitchen bench work" in our business for years. We sold the biz 3 years ago and I still use it a lot - in place of heating up one of the big ovens.

Think its all media hype to have some of these expensive appliances and totally upgraded kitchens.  I've known folks that had 40 grand kitchens put in and don't even know what the room is for ...take out is their middle name...lol.


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## OneEyedDiva (Jan 12, 2020)

Catlady said:


> I love paying with credit cards and also online, even my brokerage and IRA, would hate going back to checks and cash and physically going to banks.  But, my HOA charges me $4 for an online payment, so I mail them a check four times a year (they charge quarterly).  I also started an online savings account  with Discover, want to keep it separate from my other savings account and use it for an emergency fund (they pay higher interest).
> 
> *Do you, and other posters*, think the online banking is safe, since the emergency fund will eventually top $5000. I'm a little leery about it, I trust my physical bank more, but I also have a credit card with Discover.


Catlady, it took me awhile to trust banking and dealing with my brokerages online.  One benefit is that I can login to my accounts anytime and see what's going on. I've set alerts so that any suspicious activity will be emailed and/or texted to me immediately. Also, money being moved between brokerage and banks or vice versa can only take place between accounts that have already been verified by their system. Verification codes are via email and I have a special email for financial matters.  In addition, I've enabled two factor identification for my accounts. One brokerage uses a system that really fascinates me.  It uses the VIP app which generates a set of numbers every 30 seconds. In order to login after entering ID and password, that set of numbers has to be entered before the 30 seconds is up. The Mac ID number for the device on which the app is downloaded must be reported to the brokerage before it will work and a set of numbers from any other device with that app will not be recognized.

Banks now take responsibility for any unauthorized transactions they allowed, at least they claim to. Also the FDIC insures your bank (not brokerage) accounts for up to $250,000. It seems like you and I have the same money style.


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## OneEyedDiva (Jan 12, 2020)

Aunt Bea said:


> It seems like the less mail I get the more issues I have with it being delivered to my mailbox.
> 
> I signed up for USPS Informed Delivery after terry123 mentioned it in another thread several months ago.
> 
> ...


I have money spread all around too Aunt Bea. Don't believe in keeping all my eggs in one basket, though I did consolidate a bit last year so when I kick it, my son won't have so many accounts to navigate. I also use informed delivery...pretty cool.


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## Catlady (Jan 12, 2020)

OneEyedDiva said:


> Verification codes are via email and I have a special email for financial matters.  In addition, I've enabled two factor identification for my accounts. One brokerage uses a system that really fascinates me.  It uses the VIP app which generates a set of numbers every 30 seconds.* In order to login after entering ID and password, that set of numbers has to be entered before the 30 seconds is up. *The Mac ID number for the device on which the app is downloaded must be reported to the brokerage before it will work and a set of numbers from any other device with that app will not be recognized.
> 
> Banks now take responsibility for any unauthorized transactions they allowed, at least they claim to. Also the FDIC insures your bank (not brokerage) accounts for up to $250,000. It seems like you and I have the same money style.


Hmm, that all sounds like a lot of work.   I'll pass.

I figured that I've had Discover for a long time, I think it's reputable, so I deposited $70 the first time to test it and will be adding to it until I reach my goal of $5000 or more (that's the minimum for a new AC, can't live without AC in hot Tucson).  I thought of putting the money in the brokerage account, but I know myself, I'll be tempted to use the money to buy stocks.  Better have the emergency fund by itself and available when I need it.


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## Butterfly (Jan 12, 2020)

Liberty said:


> So when you are talking about an "emergency fund" you mean an EMERGENCY FUND...lol.  What type of emergencies do you think you might need that amount of funds for so quickly?



Big ones for me have included:

My dad died while we were stationed in Germany and I had to get home in a  hurry.  Good thing I had a credit card.

Refrigerator/freezer died on a weekend in July.  The fixer guy declared it dead.  I had to replace it right away or lose all the food in the fridge and freezer.  I got online, found the one I wanted and arranged to have it delivered the next morning and the corpse of the old one carried off.  Glad I had a credit card.

Pipes burst under my house  to the tune of about $5,000 -$6,000.  City turned off the water so no more would pool under the house.  This is something you need to get fixed NOW.  Good thing I had that card.

After an emergency, I figure out how to pay off the bill, one, two, three payments, move funds around, etc.


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## Catlady (Jan 12, 2020)

Butterfly said:


> After an emergency, I figure out how to pay off the bill, one, two, three payments, *move funds around*, etc.


Yes, that is what I want to avoid by having an emergency savings.  Of course, if the bill is higher than my emergency savings, I plan on making a few payments from my savings while I have time to sell stocks to pay off the difference.  I just can't afford the extra monthly credit card payments since I seldom have much money left over after paying my monthly bills.


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## OneEyedDiva (Jan 13, 2020)

Catlady said:


> Hmm, that all sounds like a lot of work.   I'll pass.
> 
> I figured that I've had Discover for a long time, I think it's reputable, so I deposited $70 the first time to test it and will be adding to it until I reach my goal of $5000 or more (that's the minimum for a new AC, can't live without AC in hot Tucson).  I thought of putting the money in the brokerage account, but I know myself, I'll be tempted to use the money to buy stocks.  Better have the emergency fund by itself and available when I need it.


Actually it's not a lot of work Catlady. It's less complicated than it sounds. The device gets preauthorized one time...then it's good to go. It's a matter of just opening the app on my phone when I'm ready to log in. It actually takes only 8 - 10 seconds to enter the code on the screen.  With the amount I have invested, the extra 10 seconds is worth it.  The methods (for other accounts) involve receiving a text with the codes. Again, just a matter of opening up my message app.

You are wise to establish a separate emergency fund and not allow yourself to be tempted. I transferred some of the money from the bank I've dealt with for decades into Citibank because of an offer which I found in a pile meant for shredding. Deposit the required amount (of "new money") into a checking-savings account, establish paperless statements and receive $425 if the accounts stay open for at least 90 days. I've had a Citi credit card for at least 12 years, so I felt comfortable, like you do with Discover.


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## fmdog44 (Jan 15, 2020)

With 1%-3% cash back on credit card purchases why use cash? I pay all bills with CC's and find myself rarely putting out cash anymore. I checked the number of cash withdrawals last year and had only six. Adding up the annual charges X 1-3% it could be a nice piece of $$$$. Discover pays 5% on certain items.


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## Liberty (Jan 16, 2020)

fmdog44 said:


> With 1%-3% cash back on credit card purchases why use cash? I pay all bills with CC's and find myself rarely putting out cash anymore. I checked the number of cash withdrawals last year and had only six. Adding up the annual charges X 1-3% it could be a nice piece of $$$$. Discover pays 5% on certain items.


Absolutely, that money can really add up.  Call it a little extra bonus that adds to the savings pot!


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## Uptosnuff (Jan 17, 2020)

I don't think we are at the point of a totally cashless society quite yet.  As a matter of fact, there is a whole cash-paying underground out there if you know where to look.  

We have had several tenants that paid their rent in cash.  Not because they were drug dealers, but because they were wait staff at the local bars and restaurants.  I am surprised at how many don't seem to use their checking or saving accounts.  There are tons of local restaurants that are cash or check only and there seem to be more of them popping up every day.

Even local businesses prefer the cash if you are willing to offer it.  And they are willing to give you a discount if you do.  I have never had a business turn down cash.  I still write checks every month to pay bills from vendors I don't have listed in my online checking account.  I live in an area with our own water association and each month I have to take a water meter reading and write a check for it. 

I don't see how people get along without writing at least a few checks, really.  The cashless society might be around the corner, but it is not here yet.  I hope I never see it.  Way too easy for the powers that be to track every little thing about you.


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## StarSong (Jan 18, 2020)

Uptosnuff said:


> I don't think we are at the point of a totally cashless society quite yet.  As a matter of fact, there is a whole cash-paying underground out there if you know where to look.
> 
> We have had several tenants that paid their rent in cash.  Not because they were drug dealers, but because they were wait staff at the local bars and restaurants.  I am surprised at how many don't seem to use their checking or saving accounts.  There are tons of local restaurants that are cash or check only and there seem to be more of them popping up every day.
> 
> ...


Wow, I could have written this post except that I don't have any tenants. 

Our business offered cash discounts.  CC companies bar merchants from upcharging for CC use, but they couldn't prevent us from discounting the 3% (at least) that it cost us to process their cards.   Toward the end we accepted cash, MC or Visa only.  No checks or debit cards.  We never accepted Discover or AmEx because their fees were too high.


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## Uptosnuff (Jan 18, 2020)

@StarSong The businesses that take cash or check only, or at least deal in cash are usually "mom and pop" establishments.  I think they realized just how much the credit card charges were eating into their profit margins.  What they have done, in effect, is put the charges on their customer's back when they say "we accept cash only, but there's an ATM right over there".  Of course when you have to use their atm there is a charge for that.  

So, while I am all for places taking cash only, as a customer I don't particularly like the charge shifting.


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## StarSong (Jan 18, 2020)

Uptosnuff said:


> @StarSong The businesses that take cash or check only, or at least deal in cash are usually "mom and pop" establishments.  I think they realized just how much the credit card charges were eating into their profit margins.  What they have done, in effect, is put the charges on their customer's back when they say "we accept cash only, but there's an ATM right over there".  Of course when you have to use their atm there is a charge for that.
> 
> So, while I am all for places taking cash only, as a customer I don't particularly like the charge shifting.


We owned a Mom & Pop uniform company.  The retail-direct portion of our business had a restricted customer base that had to purchase from us (school uniforms).  Our payment policy was well publicized, and customers had the option to use our website and PayPal if they needed to use a debit card, Discover or AmEx.


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