In short, there is a reason that e.g. Disney tries to get everyone to pay with room charges, and why casinos use chips instead of greenbacks.
Now, if you leave your plastic in the car, too, then you're in business...
Brian Noble said:Rob: most things I've read suggest that cards encourage impulse spending more than cash. Handing over cash money is the real deal. You know how much you are paying.
Ouch, if that ever "got out" to the casino-gaming public, an entire industry would be in danger of collapse.
It's also another reason why I heartily endorse the idea of Schlitterbahn's Splash cash, as well as Scooby bucks and any other program that takes money and turns it into something that only has value at the park. Encourages spending. ;)
Ya know who had the weirdest idea ever about in-park spending? Santa's Workshop. You basically get a card, they write down the purchases, and you pay the balance when you leave. Funny how they had probably the most trustworthy of employees going, but almost no one had any cash-handling other responsibilities than at the front gate (I think there was money at the arcade, well, the arcade they had, LOL). But that would virtually eliminate any problems with theft and would be a good idea for others to consider.
My feeling is that anything that takes money and turns it into "almost money", esp. credit cards, makes more money for the business than would be the case in cash-only. Oh, and even though I try to always have SOME cash on hand...I almost never spend cash.
P.S. Splash cash...doesn't care if it gets wet, it's plastic...genius! Waterparks hate paper, even paper money. ;)
*** Edited 2/16/2008 12:53:18 AM UTC by rollergator***
I wasn't thinking about it, but that's $100 a month or so I was putting on my credit card. That helped to make sense why I couldn't get my credit card debt down. The principal is killing me.
I have major surgery coming up soon and they wanted $600 co-pay which in the past would've automatically gone on the credit card. No more. I drove down to the hospital and payed with a check.
Will I not use the credit card at all? No, some fees are still tied to it month to month. I also use it to pay for things shipped to my house. And in the summertime, hotel rooms get reserved with the card.
Debit cards can be equally as bad. Sure, they may seem the same as cash, but don't offer the projection of a credit card, and some businesses (mainly gas stations) can put a hold fee on your card of $75 (in example).
So you not knowing any better go and put something else on your debit card and now you've been charged a overdraft fee or aren't able to use the card because the holding fee at the gas station hasn't cleared yet.
But, if you're not doing that, put as little on it as you can get away with. Good for you for using those greenbacks.
Another tip: make yourself keep a log of every purchase, no matter how small. Knowing you have to write it down later often makes you think twice about that impulse purchase. I did this when I was a broke graduate student, and it was really helpful.
*** Edited 2/18/2008 1:55:25 PM UTC by Brian Noble***
Paying for things at point of sale is easier for me than worrying about a monthly statement telling you "You owe me!"
It's a scary thought to me if actual tangable currency dissapears for imaginary blips on a screen. Give me cash any day. And put it back on the gold standard. No, I'm not backing Ron Paul.
Back on topic...
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