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Change your monthly purchases this way. Go to the bank each month and get out a bulk of cash. Then use that cash for all your random monthly purchases.

submitted by Crackinjokes to USPolitics 1.1 yearsMar 14, 2024 15:22:16 ago (+35/-0)     (USPolitics)




Change your monthly purchases this way. Go to the bank each month and get out a bulk of cash. Then use that cash for all your random monthly purchases.


This is to avoid discrimination based on your purchases or preferences and to avoid voluntary transaction records surrender by your banks without warrants.

It also keeps cash in play.


It also returns to forcing banks to have and dispense cash to customers. If your won't do it then complain and then find another bank

It also may get you off of automatic withdrawals from your bank which will have the additional benefit of getting you to stop buying shit you don't need.

Inspired by this

https://youtu.be/DIZ1CkmGqsY

Why not start doing it right now?

Stop pulling out the debit and credit card at the grocery and gas station and restaurant.

Go get $1000 out of the bank and keep a few hundred in your wallet and use that.


27 comments block

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[ - ] deleted 5 points 1.1 yearsMar 14, 2024 16:16:31 ago (+5/-0)

deleted

[ - ] GreenSaint 1 point 1.1 yearsMar 14, 2024 22:39:40 ago (+1/-0)

If I do this will you reward me with your nudes?

[ - ] DieselForever 3 points 1.1 yearsMar 14, 2024 18:53:23 ago (+3/-0)

Been doing it a while, cash is kind of required anyway when buying locally etc. most banks are limiting/stopping cash withdrawals now though, in UK at least.

[ - ] PearofAnguishJuniorManager 3 points 1.1 yearsMar 14, 2024 16:25:03 ago (+3/-0)

A withdrawal of 600 dollar triggers a notification from the bank to the IRS. Thanks Biden. The banks process my paycheck, then I drain it with 550 dollar withdrawals. I try to pay cash for everything.

[ - ] SilentByAssociation 4 points 1.1 yearsMar 14, 2024 16:56:19 ago (+4/-0)

A withdrawal of 600 dollar triggers a notification from the bank to the IRS.

Where did you get this information? The CTR requirements are still $10,000 per transaction, whether deposit, withdrawal, or currency exchange, (including a daily aggregate) per FinCEN.

Third party network transactions (e.g. CashApp, Venmo) that exceed $600 in aggregate is reportable to the IRS by that service. From my understanding, Zelle is excluded.

[ - ] dingbat 2 points 1.1 yearsMar 14, 2024 17:26:46 ago (+2/-0)

I think it was some kind of talking that was going around in 2021 from that muppet, but I don’t recall anything coming to fruition from it.

[ - ] Prairie 0 points 1.1 yearsMar 15, 2024 05:19:07 ago (+0/-0)

(e.g. CashApp, Venmo) that exceed $600 in aggregate is reportable to the IRS

I believe only if it's classified as goods and services. If you did friends and family payments, I don't think it's reported (I've never had to give my SS to Venmo and done more than $600 in a year, and never got a 1099-K).

[ - ] SilentByAssociation 1 point 1.1 yearsMar 15, 2024 07:51:36 ago (+1/-0)

I use neither so I can't speak to that, but good for goats to know nevertheless.

[ - ] Crackinjokes [op] 3 points 1.1 yearsMar 14, 2024 16:38:56 ago (+3/-0)

Another reason why we need to make it normalized. But yeah I know they changed the rules from $10,000 to 600. But let me tell you if you're withdrawing 550 repeatedly they're going to get you for I forget what they call it for structuring is what it's called when you're trying to avoid that. Structuring itself is illegal so even if you're not doing anything illegally with the cash you're pulling out if you're trying to withdraw money to avoid it being reported then that is itself illegally and it's called structuring and they can get you for that so I would advise just go ahead and pull your f**** paycheck out and f* them

[ - ] PearofAnguishJuniorManager 2 points 1.1 yearsMar 14, 2024 16:49:35 ago (+3/-1)

It’s reported when my employer cuts the check. Collecting your income isn’t ‘structuring’. The IRS can’t do shit about it.

[ - ] deleted 0 points 1.1 yearsMar 15, 2024 05:17:16 ago (+0/-0)

deleted

[ - ] Clubberlang 2 points 1.1 yearsMar 14, 2024 20:41:39 ago (+2/-0)

Why not 599? Extra middle finger to the yid.

[ - ] TheOriginal1Icemonkey 1 point 1.1 yearsMar 14, 2024 22:33:38 ago (+1/-0)

600. Whatever. I’ve done a few in the realm of 20-40-75k in the last couple of years.
Come at me feds.

[ - ] Looneyskiproony 1 point 1.1 yearsMar 15, 2024 13:47:10 ago (+1/-0)

Been doing this my whole life. No credit card ever. Can't see paying 114 dollars on a card when I can use a 100 dollar bill. Oh but if you pay it off that month no interest. Soooo why use the fucking card to begin with. People are so mindfucked now.

[ - ] 2017Fallout 0 points 1.1 yearsMar 16, 2024 13:45:25 ago (+0/-0)

On it already. Really stops impulse buying when you have to hand over actual cash

[ - ] Bottled_Tears 2 points 1.1 yearsMar 14, 2024 17:36:26 ago (+2/-0)

I regularly go to the ATM or do cash back to keep cash afloat and also don't like being tracked.

[ - ] SilentByAssociation 2 points 1.1 yearsMar 14, 2024 17:00:13 ago (+2/-0)

If you like what OP is suggesting, consider a reverse budget if you don't have one implemented already.

For variety, here's a piece that Nerd Wallet has on reverse budgeting: https://www.nerdwallet.com/article/finance/pay-yourself-first-reverse-budgeting

[ - ] Clubberlang 1 point 1.1 yearsMar 14, 2024 20:40:12 ago (+1/-0)

Interesting. Correct me if I'm wrong but this seems to be in theory what the barefoot investor talks about.

[ - ] Prairie 1 point 1.1 yearsMar 15, 2024 05:13:32 ago (+1/-0)

I'm terrible about this. I used cash a lot years ago, but have totally stopped in the past few years. 5% cash back on groceries makes a sizeable difference each month, I hat to admit.

[ - ] TheOriginal1Icemonkey 1 point 1.1 yearsMar 14, 2024 22:31:08 ago (+1/-0)

This is the true and real way to go about commerce. Like everyone else here, I do a bit, but not enough.

[ - ] rzr97 1 point 1.1 yearsMar 14, 2024 21:09:26 ago (+1/-0)

Cash isn't the problem. Constant money creation is the problem. Most won't understand until they have to carry wheelbarrows of the stuff around to pay for things.

They'll just wonder why they keep getting more poor.

Poor people save in fiat.

[ - ] SilentByAssociation 1 point 1.1 yearsMar 14, 2024 21:15:24 ago (+1/-0)

Bingo. Remember the hyperinflation in the Weimar Republic after WWI.

[ - ] NeonGreen 1 point 1.1 yearsMar 14, 2024 20:16:29 ago (+1/-0)

Well shit. I'd love to give an affiliate link here because it pays so much but that spills to much private data.

Anyway: Revolut.

Outside of @Crackinjokes all cash all the time strategy. I find the ability to terminate, freeze and otherwise generate out one time use cards to be a blessing.

6% of online shops straight reject them but still pretty convenient.

[ - ] SilentByAssociation 1 point 1.1 yearsMar 14, 2024 21:17:13 ago (+1/-0)

Are you referring to Privacy.com or some other service? I didn't realize some online merchants reject those temp cards.

[ - ] NeonGreen 1 point 1.1 yearsMar 15, 2024 12:32:18 ago (+1/-0)

Even the physical cards you get from them are listed in the system as gift cards. It's like a fixed balance.

[ - ] SilentByAssociation 1 point 1.1 yearsMar 15, 2024 15:26:05 ago (+1/-0)

Now that you mention it, I've not had the best success with prepaid gift cards.

[ - ] fnbs 1 point 1.1 yearsMar 14, 2024 18:30:00 ago (+1/-0)

I already do that, have been for years

[ - ] albatrosv15 0 points 1.1 yearsMar 15, 2024 03:19:56 ago (+0/-0)

Water is wet.