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Questions tagged [cash]

For questions relating to paying in cash, cash deposits, accepting cash, cash on financial statements, etc.

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97 votes
9 answers
21k views

Do people tend to spend less when using cash than credit cards?

I know this is a popular theory on this site and finance blogs/media in general, but I'd like to know if there is any reliable research on the subject. I can share personal experience that makes me ...
D Stanley's user avatar
  • 137k
68 votes
8 answers
134k views

What is the best way to accept payment when selling a used car?

I plan on selling a used car via Craigslist, and I hope to get between $4-5K for it. I don't want to take a check from a stranger, but I'm concerned that no one will be willing to show up at my house ...
Matt Solnit's user avatar
58 votes
5 answers
25k views

In what cases can a business refuse to take cash?

Printed on US currency you will find "THIS NOTE IS LEGAL TENDER FOR ALL DEBTS, PUBLIC AND PRIVATE". Some businesses have refused to accept larger bills for a long time, as other forms of payment have ...
NL - Apologize to Monica's user avatar
57 votes
5 answers
107k views

What happens if one brings more than 10,000 USD with them into the US?

Suppose one has $1,000,000 in a suitcase and they are flying to the US. Suppose they check the box in their customs form that says they're bringing more than $10,000 with them. They show the form to ...
mathemagician's user avatar
51 votes
6 answers
38k views

Why do sellers care about down payments?

I'm going through the process of buying a home now. Whenever I make an offer, the seller wants to know how much of that will be down payment. Why do they care? Isn't the combination of the down ...
David says Reinstate Monica's user avatar
50 votes
5 answers
15k views

Potential scammer pushing me to click a link and threatens to send the police

I was contacted by someone wanting to buy a bird cage I was selling on Facebook market place. He said he couldn't collect as he was at work he told me he would send a cash envelope via dpd and that I ...
Kerry Allen's user avatar
38 votes
13 answers
38k views

Is there a good rule of thumb for how much I should have set aside as emergency cash?

I'm buying my very first home, and should be receiving the $8,000 first-time home buyers tax credit. A majority of my savings are going to the down-payment of the house, but we still have a pretty ...
Jeffrey's user avatar
  • 1,636
36 votes
10 answers
16k views

Car buyer wants to pay by actual cash - what are the motivations and risks?

My partner was is listing her car for sale (about $9-10K CAD). She got contacted by someone who wanted to pay with cash bills. He was somewhat reassuring about the obvious risks of walking around ...
Italian Philosophers 4 Monica's user avatar
35 votes
4 answers
17k views

Why is the car dealer insisting on a loan instead of cash?

I saw a question that said "He (dealer) knocked down the price quite a bit" but my experience is different. The dealership says that they have a US$1500 incentive if I take a loan from their financing ...
Raj's user avatar
  • 3,492
28 votes
5 answers
13k views

If I plan to buy a car in cash, should I let the dealer know?

Is it desirable for them if I paid in full? Should I let them know or should I keep it to myself? Will I get lower prices if I was willing to pay in full?
Zaenille's user avatar
  • 4,334
27 votes
8 answers
5k views

Is it wise to keep some savings in a cash account to protect against a long term market crash?

My wife and I have half our savings in a low risk diversified account (WealthFront - mostly bonds, some stocks). We have the other half in a high interest cash savings account (0.35% interest). Our ...
Mary Rose Cook's user avatar
24 votes
4 answers
23k views

How much (paper) cash should I keep on hand for an emergency?

I used to keep $150 hidden in my car for emergencies. I keep less than $100 in small bills in a backpack with food and water for use during natural disasters. I've got a fire safe in my house for ...
NL - Apologize to Monica's user avatar
22 votes
3 answers
4k views

I would like to get cash for money judgement

I am a landlord who got a settlement via garnishment of my ex tenant's account. The total of money owed came to about $30,000. I have collected about $11,000 and would like to get cash for what is ...
Yogirl's user avatar
  • 321
19 votes
3 answers
46k views

Would depositing large cash amounts cause problems?

I saw an article recently where a man withdrew $600,000 USD in cash from his bank. I'm sure many folks here would advise against this move for obvious (and perhaps not-so-obvious) reasons. My ...
Fixee's user avatar
  • 4,524
17 votes
3 answers
2k views

How to deal with a relative's hoarded cash without being accused of money laundering

An elderly relative has been hoarding cash for many years, due to a distrust of financial institutions. Whenever his (multiple) pensions have been paid in, he withdraws most of it in cash and stores ...
Anonymous Worrier's user avatar
16 votes
4 answers
4k views

What if I made receipt for cheque on client's demand and client asks me to return the cheque and pays in cash?

My client gave me a cheque where I gave him the receipt for it's acknowledgement. Now my client tells me to return the cheque and is willing to pay with cash. How to edit the receipt or is there any ...
karan ugale's user avatar
15 votes
3 answers
7k views

How to quickly and inexpensively deposit cash?

I placed in a poker tournament at a casino the other day. I went to my bank, Charles Schwab, to deposit the cash. They said "We don't accept cash deposits." I found this very odd given they're a bank, ...
Scott Skiles's user avatar
  • 1,203
15 votes
7 answers
54k views

Why I cannot find a "Pure Cash" option in 401k investments?

I am of an opinion that I should decide where my money should get invested and if it should get invested at all or not. When I looked at the investment options I have with my 401k money, I figured ...
Saurabh Patil's user avatar
15 votes
7 answers
5k views

Is there any reason not to immediately use cash back balance to pay credit card?

If one of my credit cards accrues cash back that is redeemable towards statement balances, is there any reason not to immediately use this cash back each time I go to pay the card? Is there a benefit ...
Runeaway3's user avatar
  • 2,898
15 votes
2 answers
5k views

So the vending machine tore my $5 in pieces. What now?

The vending machine swallowed half of my $5 bill, and the other half remained in my hand. Can I get my $5 back, or is it all lost forever?
littleadv's user avatar
  • 177k
14 votes
5 answers
4k views

What type of profits or scam could do cash-back services?

I found a site called https://alibonus.com/ - they are offering to install Google Chrome extension, to shop with cash-back. What risks could there be with a service like this? Their Google Chrome ...
Arthur's user avatar
  • 243
13 votes
8 answers
5k views

If accepting more than $10K in cash for a used boat, should I worry about counterfeiting?

I'm selling a boat through a broker (a friend of a friend) taking a consignment. The buyers offered to pay in cash, but want the bill of sale to say less than the actual price for tax reasons. ...
Boater's user avatar
  • 131
13 votes
4 answers
8k views

Getting Cash from Credit Card without Fees

I currently: Pay with a credit card, get my 3% cashback, and then pay off the credit card with my debit card. What I would like to do is: Use a credit card (to get my 3% Cash back) to withdraw cash, ...
Joe S's user avatar
  • 624
13 votes
4 answers
2k views

In which situations is it better to consider a loan instead of paying cash?

I live in France where credit cards are less widespread than in the U.S. The default account for us is a checking account. Often you can't spend more than what is in your account; otherwise you have ...
Octoplus's user avatar
  • 719
12 votes
4 answers
59k views

If someone gives me cash legally, can my deposit trigger an audit for them?

I understand that making a large cash deposit can trigger an IRS audit. I have about $75K to deposit. It's a mix of a loan I made to a friend by check that he paid back in cash, and a cash gift from ...
Square Pants's user avatar
12 votes
6 answers
4k views

For a major expensive home renovation (e.g. addition, finished basement, or new kitchen) should one pay cash or finance with a loan? Would such a loan be "good" debt?

This other question is similar, but was referring to a specific renovation/repair (new flooring) that, while expensive ($1500), isn't very expensive – it's feasible to consider saving up for ...
Chris W. Rea's user avatar
  • 31.7k
12 votes
3 answers
3k views

Questions from dealer when paying cash for a car

My wife and I recently bought a new Chevy from a dealer here in California. We didn't use a loan, paid using a personal check. Even though we told them we weren't financing the deal, they insisted on ...
user avatar
9 votes
5 answers
2k views

Home Renovations are expensive.. Should I only pay cash for them?

Should I save up enough cash to do home renovations, or can I take out a loan? Our house needs a new kitchen floor as the linoleum is actually ripped in some areas, and the wood is exposed... This is ...
montyloree's user avatar
9 votes
3 answers
2k views

Long-term cash-equivalent ETFs for "cash" allocation in a portfolio?

My retirement account goal analyzer advises that I keep 3% in cash. My retirement date is over 30 years from now, so I can tolerate heavy volatility and certainly don't need liquidity. Does it make ...
Mike's user avatar
  • 926
9 votes
5 answers
13k views

New car price was negotiated as a "cash deal". Will the price change if I finance instead?

I am planning to buy a new car. I went to a dealership and when talking to a sales person I said I can pay cash. He knocked down the price quite a bit. Since the dealership did not have any low APR ...
Asdfg's user avatar
  • 763
9 votes
5 answers
2k views

Mortgage vs. Cash for U.S. home buy now

I was sure this question must have been asked and answered here long ago, but I've looked and can't find quite this question, in its most direct/blunt form, which is: If you can do it, when is it ...
Chelonian's user avatar
  • 2,197
9 votes
1 answer
1k views

Am I required by law to have cash register for my small business (California)?

We have a Point of Sales terminal to handle all credit card transactions. The credit card processor company sends us 1099K form that we use for tax purposes. This works fine for our small beauty salon....
john1234's user avatar
  • 637
8 votes
2 answers
1k views

How to use a cash budget and buy items online?

Using a cash budget, say we save $100 for household items. Typically, we would withdraw $100 from the ATM, put it in an envelope, and then later, go to home depot or walmart or wherever and buy an ...
Alex B's user avatar
  • 17.4k
8 votes
3 answers
64k views

How do you determine "excess cash" for Enterprise Value calculations from a balance sheet?

The formula for Enterprise Value that I often see is: EV = Total Debt + Market Cap - Cash Often "Cash" is refined further as "Excess Cash" in this formula. My question is how can I determine the ...
Steve N's user avatar
  • 185
8 votes
5 answers
357 views

Advice on low-risk long-term strategy for extra cash?

Basics no debt; no dependents; early thirties 401K is maxed (5% company match) ESPP is maxed out 10% Roth IRA is maxed out salary is about 115K 100K cash in a checking account Question I am trying ...
dfl's user avatar
  • 81
7 votes
4 answers
145k views

Can I cash in a ripped bill?

For example say I have a $100 bill. If I rip it up into 2 halves, and try to cash in each half at a different bank location, could I gain $100?
personjerry's user avatar
7 votes
4 answers
1k views

What forms of payment am I compelled to accept?

In relation to this question about maximum amounts a check can be written for If I sell something like a car or other expensive item on Craig's List or in the local paper classifieds, am I compelled ...
MrChrister's user avatar
  • 25.3k
7 votes
1 answer
6k views

What scrutiny to expect if making large purchase with physical cash? [duplicate]

I tried googling this but most answers that came up were regarding "cash" as bank deposits that a check is normally issued against. Not "cash-cash" or physical cash, as a bunch of bank notes. Say ...
amphibient's user avatar
  • 1,079
6 votes
2 answers
3k views

Using a friend to move cash into my checking account

I have a few thousand dollars that I want to move into my checking account, but as I pointed out in my previous question my bank does not have local branches or ATM partners. I have a friend who will ...
Ken - Enough about Monica's user avatar
6 votes
3 answers
3k views

Can someone earn money from Credit Card Cash Back by buying and selling back and forth?

If I understand cash back programs correctly, the Credit Card companies give you back a percentage of the money you spent on a purchase. 1% would give you back $1 on a $100 purchase. If this is the ...
user avatar
6 votes
2 answers
21k views

What kind of credit card transactions generally count as a cash advance?

I understand that if I use my credit card to get cash from an ATM, that counts as a 'cash advance'. Are there any other credit cards transactions that don't involve taking cash from ATM that count as ...
Victor123's user avatar
  • 16k
6 votes
5 answers
1k views

What should I do with the change in my change-jar?

My change-jar is full, mostly with denominations < 50p. Last time I emptied it, I took it to a machine at the supermarket: ...but it charged me for the privilege of turning my change into usable ...
Tom Medley's user avatar
6 votes
1 answer
794 views

How do I record a purchase of gas in a gnucash chart of accounts?

Complete beginner here. Eyes sore and brain bent from reading. My question too basic for anyone to answer it seems. It is this: I start off with the new chart of accounts. I spend $50 on gas. How ...
abrogard's user avatar
  • 219
6 votes
2 answers
2k views

Buying my first car: why financing is cheaper than paying cash here and now?

I'm buying my first car and I'm a bit puzzled. Here you can see price for 2015 Toyota Camry Hybrid XLE (archived). You can see that MSRP is $34,435, but the dealer is making discount of $8,609, so ...
Oracle's user avatar
  • 61
6 votes
2 answers
692 views

What are the disadvantages of keeping a small part of your assets as cash in a safe deposit box?

In Switzerland, banks do rent out safe deposit boxes for valuables. I am thinking of storing a small fraction of my assets there as cash. To diversify my portfolio, in addition to a savings account at ...
Sybil's user avatar
  • 694
6 votes
2 answers
734 views

How to handle large inheritance

My uncle is ill and doesn't have much longer to live. He's been tying up loose ends and the other day he gave me a briefcase full of $20 bills, neatly stacked. If my math is right it's about $100k. I'...
cashman's user avatar
  • 69
5 votes
6 answers
3k views

Is it better to use cash when cards offer discounts

I am new to budgeting and managing my own finances and have a simple question. Is it better to use cash when credit or debit cards offers discounts. The city I live in, some shops and services offer ...
Shaheer's user avatar
  • 161
5 votes
7 answers
5k views

Why would a bank take a lower all cash offer versus a higher offer via conventional lending?

There seems to be a a belief that a bank or individual will always take cash over conventional financing from a buyer, even if the buyer who is purchasing through conventional financing offers a ...
Aaron McIver's user avatar
5 votes
3 answers
838 views

Investment strategy for retired couple

My parents are retired (71 and 75), their house is paid off, and they have a moderate amount of savings between some IRAs and bank accounts. All of their savings is in cash or money markets, and it ...
minou's user avatar
  • 7,536
5 votes
1 answer
1k views

I withdrew cash from U.S. ATM (not U.S. bank card) and put it into U.S. bank. Is it taxable income?

I'm filling tax return forms 1040NR-EZ, 540NR-short for non-resident (I was exchange visitor in U.S.). When I was in U.S., I withdrew cash from an ATM using a card from an account of mine at a non-US ...
user25768's user avatar