Speaking of Sears

[JPSmit]

I have one, same one the last 35 years. Keep it paid off each month and don't buy that much with it as most local transactions tend to be cash. But we're fighting a loosing battle there. Cafeteria where I work transitioned to a new operator this last summer and most of the time now uses a swipe a card or your phone technology with the goal to be totally cash free soon. Cuts people cost with no need for folks "on the floor" I assume is a primary reason.

This is a big deal in my work - trying to explain to churches that if their revenue stream depends on cash or cheques that they are in big trouble! Read an article recently that said that 50% of Canadians plan to abandon cash by 2020. My daughter doesn't even carry a wallet - just her phone and a couple of cards. And, i really don't carry cash either much. My daughter worked at Old Navy as a cashier and typically about 3/4 of sales were debit/credit.

Was talking to a fellow this week and a couple years ago they put a point of sale machine in their church - last year they did 107k on the machine - everything from offerings (80k) to bake sales.

OTOH was driving home this eve and there was an ad for Lowes introducing Craftsman tools. (how's that for getting us back to Sears) :thumbsup:

 

[Bayless]

I do most everything with a credit card. It is more convenient than carrying cash and it gets me a discount (cash back) of 1 - 3% depending on where I use it. I always pay the full balance every month so NO DEBT.

 

[PAUL161]

Funny, 55 years ago we were a struggling young couple with very little money, we splurged and bought her a Kenmore hand mixer, being very protective of her kitchen items, she's had it all these years and still loves it. She used it last night while fixing dinner. Only thing I've ever done to it was replace the cord with a longer one, it still runs perfectly! Hows that for product durability! We also have a Kitchen Maid electric can opener bought from Sears about 50 years ago which still works, but we don't use it anymore as the cutter heads are near impossible to replace, most of the new ones are junk in comparison. PJ

 

[70herald]

Well, even Timken is now foreign. Even if it's NGK, it'll be fine. Go for the least costly, they all come from the same source now.

The seal is more critical than the bearings. The failure mode here is seal fails letting water into the bearing which then fails. Eventually the damaged bearing ruins the tub shaft, and you need the entire assembly.

 

[Basil]

The seal is more critical than the bearings. The failure mode here is seal fails letting water into the bearing which then fails. Eventually the damaged bearing ruins the tub shaft, and you need the entire assembly.

That's a good point! I'd better get this thing changed before it gets to that point (hopefully it hasn't already)

 

[DavidApp]

The bad thing about cards is it is easy to over spend then have to carry the balance then next month over spend. Pretty soon you have a house loan size balance and not much to show for it.
One of the radio get out of debt guys recommends taking a weeks worth of cash out of the bank and dividing it between various envelopes and not getting any more out till next week. If you run out during the week tough.
Cards are very handy but I usually use cash so I know where I am with my day to day spending. I always pay the full amount every month. The sister in law has at least $25000.00 on her card and works as a store check out person.

David

 

[waltesefalcon]

David, that is my thinking too. I don't use the old envelope method but I do something similar to manage my money for the month. Once it is gone, its gone.

 

[YakkoWarner]

I had always paid off in full every month what I used on a card, but now I am terrified to even use a card because all the payment processing that used to be done by actual bank and card service providers is being done on the internet now. I don't have anything against credit cards as such, but with everything being connected to the internet is just seems way too easy for some crook to either intercept the card info in transit or break into the bank/store/processor's system and harvest the info in bulk - and no one ever seems to get prosecuted for that. The bank MAY reimburse you if you can prove it wasn't you, but then its still your problem to change all your accounts and such. And the thieves/crooks/hackers/whoever never face any consequence so for them its just free money. I don't like that, so I pretty much quit using cards.

 

[JPSmit]

I use a card a lot - and, chip cards are waaay more secure (finally making their way into the USofA) - that said, I agree - we use a variation of the envelope method - but, you look at all the ways that people are encouraged to spend money "because you are worth it." - it is frightening. And, cards allow for impulse purchases in a way that cash doesn't.

 

[DavidApp]

When making Internet purchases I use PayPal where ever possible. I feel that limits my exposure a bit.

Was reading about a card type used in Australia or the UK that created a one time card for every transaction.

David

 

[YakkoWarner]

When making Internet purchases I use PayPal where ever possible. I feel that limits my exposure a bit.

Was reading about a card type used in Australia or the UK that created a one time card for every transaction.

David

I asked my bank about that after reading something that referenced the idea, but they told me no such luck.

 

[LarryK]

Cards are OK, but standing behind someone who doesn't remember how to use reader is worse than someone who doesn't have their money ready or has to look for change in the bottom of a bag.

 

[JPSmit]

I asked my bank about that after reading something that referenced the idea, but they told me no such luck.

pretty much what a chip card does - though according to this a phone is even better.

https://squareup.com/townsquare/why-are-chip-cards-more-secure-than-magnetic-stripe-cards

 

[DrEntropy]

Again... convenience over security.

I'll pass.

 

[DavidApp]

Just got one of these foil lined envelopes for my card to help prevent the RFID info being harvested.

David

 

[DrEntropy]

Use it to foil line yer WALLET!

 

[Basil]

Use it to foil line yer WALLET!

I’ll use it to line my hat to keep them aliens from stealing my brain waves

 

[waltesefalcon]

I keep the foil on my head. A few companies are making mesh lined wallets and purses to protect your next generation RFID equipped cards safe.

 

[mikephillips]

Cards are OK, but standing behind someone who doesn't remember how to use reader is worse than someone who doesn't have their money ready or has to look for change in the bottom of a bag.

But is it worse than the person who is head down tapping away who doesn't even realize they've reached the front of the line??...

I also for cash use my own variation of the envelope method, I go to the bank every other week to get a certain amount, covers food, gas, lunch at work and so on expenses. At the end of the pay period whatever is left goes into the "unexpected expense" box, so I have extra cash if I need it. Or to pay vacation expenses or whatever. I may not make as much interest that way, but I cover incidentals I didn't expect.

 

[JPSmit]

But is it worse than the person who is head down tapping away who doesn't even realize they've reached the front of the line??...

Even more concerned with the person head down and typing who doesn't realize they have stepped out onto the road!