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<p>[QUOTE="Pere, post: 1837592, member: 59199"]Well, basically it means that I like to be able to pay for whatever routine purchases I might make during the day with appropriately-sized money. I try to avoid either breaking big bills on small purchases, or having to hand over fistfuls of smaller denominations for larger purchases. And I don't want to be carrying too many total <i>pieces</i>; I don't want my wallet awkwardly stuffed or my change pocket cumbersome.</p><p><br /></p><p>So I figure that the ideal configuration of cash on my person each morning is the one that gives me the best odds of covering all the purchases I might conceivably decide to make during the day (excluding large ones that I don't <i>want</i> to be spur-of-the-moment), paying for each with either exact change or something modestly over.</p><p><br /></p><p>The solutions to this will be different for different people, and maybe different days, depending on the routines of one's days and the kinds of things one might be buying. But as an example,* if I leave the house with:</p><p>one $100 bill,</p><p>one $50 bill,</p><p>two $20 bills,</p><p>one $10 bill,</p><p>one $5 bill,</p><p>two $2 bills,</p><p>one $1 coin,</p><p>one half dollar,</p><p>one quarter,</p><p>two dimes,</p><p>one nickel,</p><p>and four pennies (twelve denominations),</p><p>then I'm certainly not feeling encumbered by my cash; I have a thin wallet of eight bills, and just ten coins in my pocket (or, nine and nine if you use $1 bills; I prefer the coins). Yet I have over $210 available, am guaranteed to be able to make exact change for my first purchase, and good odds of coming close for a few subsequent ones. I should generally return home with fewer, or at least no more, pieces of money than I started with. </p><p><br /></p><p>Some people say they don't like cash because they end up with wads of rumpled small bills and heavy piles of coins. But that's because they're using cash <i>badly</i>; they're just getting $20s from the ATM, and paying for anything with one or more of those, and accumulating the change.</p><p><br /></p><p><br /></p><p>* I'm still refining my personal formula, but lately I've usually been starting with a few extra dollar coins for coffee-break type purchases. If the amount is small, it feels more efficient to only pull out coins, and not have to touch the wallet at all.[/QUOTE]</p><p><br /></p>
[QUOTE="Pere, post: 1837592, member: 59199"]Well, basically it means that I like to be able to pay for whatever routine purchases I might make during the day with appropriately-sized money. I try to avoid either breaking big bills on small purchases, or having to hand over fistfuls of smaller denominations for larger purchases. And I don't want to be carrying too many total [i]pieces[/i]; I don't want my wallet awkwardly stuffed or my change pocket cumbersome. So I figure that the ideal configuration of cash on my person each morning is the one that gives me the best odds of covering all the purchases I might conceivably decide to make during the day (excluding large ones that I don't [i]want[/i] to be spur-of-the-moment), paying for each with either exact change or something modestly over. The solutions to this will be different for different people, and maybe different days, depending on the routines of one's days and the kinds of things one might be buying. But as an example,* if I leave the house with: one $100 bill, one $50 bill, two $20 bills, one $10 bill, one $5 bill, two $2 bills, one $1 coin, one half dollar, one quarter, two dimes, one nickel, and four pennies (twelve denominations), then I'm certainly not feeling encumbered by my cash; I have a thin wallet of eight bills, and just ten coins in my pocket (or, nine and nine if you use $1 bills; I prefer the coins). Yet I have over $210 available, am guaranteed to be able to make exact change for my first purchase, and good odds of coming close for a few subsequent ones. I should generally return home with fewer, or at least no more, pieces of money than I started with. Some people say they don't like cash because they end up with wads of rumpled small bills and heavy piles of coins. But that's because they're using cash [i]badly[/i]; they're just getting $20s from the ATM, and paying for anything with one or more of those, and accumulating the change. * I'm still refining my personal formula, but lately I've usually been starting with a few extra dollar coins for coffee-break type purchases. If the amount is small, it feels more efficient to only pull out coins, and not have to touch the wallet at all.[/QUOTE]
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