Friends that waste money

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anonymous user
Registered: 12-31-1969
Friends that waste money
33
Mon, 10-08-2012 - 9:41pm
I don't really know if this appropriate to post but we have a lot of friends that are broke but have way nicer things then us. I know that everyone gets to make their own decision on how they spend their money. However it is painful to watch. Also because all three families have kids so the pattern and lifestyle is being taught. I would never say anything. With one of the friends I do talk with her about how we are trying to pay down our loans ASAP. She agrees but then I see her doing the complete opposite. Oh well. Has anyone ever said anything to someone way over spending? On that note I did confront my uncle nicely via email for not paying on a big loan he owes my dad. Definitely my dad was part of the problem by not calling him on it. It felt really good because it got them talking and him paying but it did make me feel also like what will I do if it happens again because I don't want to be my dads personal bill collector (since he borrows too many people money) and that could be another post.

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iVillage Member
Registered: 10-17-2010
Fri, 10-12-2012 - 5:53pm

I use the ATM for the convenience factor.  It's easier for me to drive up to a machine than to try to bring my 4 year old into the credit union and have her talking to everyone and asking all kinds of questions.  My credit union also has few branches in our area and they're quite busy on paydays, which is when I grab my money.

I plan my ATM trips around errands though.  I may drive a mile farther to a particular grocery store but the ATM/CU branch is right there.  I get my cash and go shopping.  I also have a set amount per pay day that I remove.  I try to keep receipts from spending so I know where it's all going.

Community Leader
Registered: 08-25-2006
Fri, 10-12-2012 - 11:52am
Oh good. :smileyhappy:
Serenity
iVillage Member
Registered: 05-08-2006
Thu, 10-11-2012 - 9:14pm
My mom used to plan one errand a day so that she had a reason to get up, dressed and out of the house every day..she didn't go that far, but it was a good way to stay active. When the price of gas got crazy, she started doing all her errands in one to two days...but ended up depressed and exhausted...even when we urged her to go back to her old routine, she still planned her trips for efficiency...and she loved if she could do something for one of us while she was out so that she was saving someone money:smileyhappy:
Avatar for mahopac
iVillage Member
Registered: 07-24-1997
Thu, 10-11-2012 - 9:12pm

Ohhhhh now I get what you're saying.

I don't live anywhere near my credit union, and there are no CU ATMs near me either, so I do have to pay ATM fees, but only if the ATM charges it.  My CU doesn't charge me for withdrawals.

Misunderstanding cleared. :smileyhappy:

Community Leader
Registered: 08-25-2006
Thu, 10-11-2012 - 6:58pm
I just meant that if I know I am going to need cash for where I am going for the day, then I can stop by my own bank's ATM on the way.

Thats all.

I haven't paid an ATM fee in probably 15-20 years (back when ATM's were new), so a little confused why it would ever be necessary. You go to your own bank or get cash back at the store.

If you live in a way where cash is necessary, then you already know to carry cash.

Thats all I was trying to say.
Serenity
Avatar for mahopac
iVillage Member
Registered: 07-24-1997
Thu, 10-11-2012 - 5:40pm

I don't understand the horror over ATM fees, unless someone is constantly paying $2 to take out $40 in cash.  I probably pay a total of $3.75 in ATM fees for three $300 withdrawals a month, and pay no banking fees whatsoever.  I don't know too many people who pay NO banking fees, but I don't even have to pay a dime for a box of checks.

"Poor planning for the day at hand" is not the issue. When my car is in a parking garage in NYC and I have to tip the guy who brings it around, I don't think he wants me to ask if I can put his tip on my credit card.  I can't tip the bellman at a hotel with a credit card.  The manicurist who gets some percentage of my $10 manicure would certainly prefer that I give her $4 in cash for the tip.  My hair salon doesn't even allow me to put tips on the credit card, though I can use it to pay for my haircut.  The cleaning lady, who is self-employed, can't be paid any way other than cash.  When I go out with friends for coffee or a beer, we're all going to pay cash because it's awkward if someone wants to charge it.  Should I let the collection basket at church pass me by because there was an unexpected collection for a good cause and I didn't have cash in my purse? 

There are lots of reasons to pay cash.  Some people on this board pay cash for everything so they're not tempted by credit card use, and I'm sure they have to pay a fee to withdraw that cash from somewhere.  I prefer to use my credit card because then I can keep track of it, but there are lots of situations that do require cash.

iVillage Member
Registered: 05-08-2006
Thu, 10-11-2012 - 4:58pm

I use the ATM because it is faster than dealing with the teller at the bank, and I can do it when it is convenient for me.  I seldom leave the building during the work day, and in the city where I live, it is unusual for a bank to be open other than 9-5 M-F.  But I never (well, almost never) go to an ATM that doesn't belong to my bank.  Actually, I have two bank accounts with ATM access, and between them it is pretty convenient to find a location i am passing by.  I keep a small amount of money in my 'desk drawer account' as my mother would say, and I take a set amount I take out of the bank when I notice I am getting low on cash.  I use a credit card that I pay off every month for most things so I am mostly paying cash for things that cost less than $5.  I know some people find they spend more money when they charge things but for me, that isn't an issue.  I grocery shop 'big' once a month or less, and buy fresh produce in the in between weeks. 

Community Leader
Registered: 08-25-2006
Thu, 10-11-2012 - 4:41pm
The only reason I can see ever having to pay an ATM fee is if in a real pickle and your only choice is to use the closest ATM.

Maybe at an event where vendors only take cash, or something like that. Other than that, probably poor planning for the day at hand. As it is rare to run across a retailer that doesn't take debit or credit cards.

Back in the day, when ATM cards were just that, an ATM card, and debit cards didn't exist, I can see where paying fees may have been more likely.

Serenity
Avatar for mahopac
iVillage Member
Registered: 07-24-1997
Thu, 10-11-2012 - 4:10pm

We take out $300 at a time from an ATM that only charges $1.25.  If I'm traveling, I'll take out cash from the ATM for the airline employees' credit union, because there's no ATM fee for members of other credit unions (our bank is a CU).  ATM fees (charged by the ATM owner) are the only fees we pay - even our checks are free with our CU.

We use our debit card for groceries; have regular monthly bills like the phone/TV debited directly from our account; write checks for individuals who provide services such as music teachers, landscapers, etc.; use a no-interest Amex card for almost everything else; and cash for things like the cleaning lady, the manicurist, hairdresser tips, other tips, the local pub, school fees, and other places/people where credit cards or checks are either infeasible or kinda weird.

Forecasting spending has nothing to do with *how* you pay for spending.

iVillage Member
Registered: 08-24-2006
Thu, 10-11-2012 - 3:48pm
I don't use cash unless I have to. I have had large amounts of cash stolen from my home and my person before, and I just don't do it anymore. It makes me nervous to have more than 10$ in cash at any given time. That said, I don't have a problem with ATM fees either, because if I do need cash and can't stop at my own bank's ATM I will just get cash back at the drug store or grocery store.

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