Now at grocery stores it seems like when I ask for several of one denomination I get a "sorry I don't have this many" kind of reply. So it's harder now to fulfill an exact preference of cash back when buying groceries. I shop weekly and usually ask cash back so this has happened many times since the coin shortage started. It's also now more difficult to deal with banks and I think all my local ATM's only disperse $20's.
I have worn out more bank registers in the last 6-8 weeks. I always keep a few bills in my pocket because the thought of using a card for a five dollar purchase is repulsive to me. I can't buy the kids a Happy Meal without using my card right now. Yes, I am seriously feeling this "no change" epidemic myself.
I believe cash/coins are on their way out for buying things. I go to several stores that say "no cash accepted", my guess would be in 30 years it will only be electric currency. Sounds crazy, but it seems to be happening now.
There's already articles circulating of digital currencies, central bank of England I think has been talking about it. What I don't know is if they will demonetize cash, or just have this as an option for people in the future.
I have not done this intentionally, but over the last five years I have become completely cashless. I no longer need cash for anything. Vending machines take plastic, every store I visit takes plastic, I have yet to come across a situation in the past 5 years where I needed to have cash. So, again unintentionally, it has become more of an inconvenience to get cash, so I no longer do. The only cash that I keep around now is my currency collection and that isn't exactly extensive. It happened without me even knowing it. I actually like cash and miss it, but I now have to go out of my way to get it and it's no longer worth it. It's a little strange.
I eat at a couple nice restaurants that do not take plastic. Cash or send a check within 5 days. These are steak houses in a fairly large city.
I've been adding to a rainy day fund, over the last couple years taking small amounts of money out when buying things at stores. It started slow but now it's starting to add up. One day I'll need but I'm not sure when I'll need it or what for. Bank statements (including online) doesn't show you asking cash back, it's part of your grocery transactions so not even the IRS knows about the cash.
In a big city is that actually a smart move though? They might get more customers if all forms of payment are accepted. Besides nowadays if you try to use a card that has nothing on it, it's automatically declined.
Just had some business at the local bank branch, and chatted with them about the change situation. They've got LOTS of half dollars (got four rolls, nothing good), but are chronically short on cents and dimes. They're OK on quarters at the moment, but were down to under $20 worth of them in the entire branch at one point. I may take in the nickels I've been tossing into a jar for years. They also said $2 and $50 bills are still the odd ones out -- most customers want none of them, but those that do want ALL of them.
I took out some decent amount when the pandemic started as a what if hedge. Worst case is I put it back into the bank account, best case is that it is an emergency fund for whatever could happen. But most transactions are electronic for me these days unless the card fee is too much. I pay cash or check for my coin guy, my barber only takes cash. But other than those two, I use card and don't carry cash other than a $20 in my wallet at all times for emergencies. Cool thing is that I still talk to my local bank teller so I can start the bill searching back up whenever I want.
Occasionally a debit reader malfunctions, one of the times I went to Great Clips (literally a week before the shut down in March) their machines weren't working. I was thankful to have some physical cash on me at the time. They told me it happened to every other customer that tried to use plastic that day.
Puerto Rico right after Hurricane Maria - no electricity for weeks, months etc. The people that got by were the ones that had managed to keep some physical cash. Debit and credit cards are pretty useless without electricity. I myself tend to avoid using cash, that said I have an "emergency fund".
