Gen Z Thinks Cash Isn't Real Money?! - Ramsey Show Reacts

[@bassgod985]

I think George nailed it when he said money is so digital to us youngins that cash feels free as a result. We’re used to direct deposits increasing our bank account and debit cards decreasing your bank account. When you use cash, your bank account is not affected by the transaction so it feels free. Obviously the cash comes from the bank account, but I’m talking about the illusion aspect

[@taks6738]

Try to use your digital money in a casino

[@altenberg-greifenstein]

That is the most brainless thing I have ever heard. How did that nonsense belief ever spread? It is scary to realize that so many people are this brainless. I'm serious. It is scary how many people have no ability to use their brains.

[@karlabritfeld7104]

Oh wow, this is stupid.

[@sputnik13]

Makes sense put in perspective. One would hope though that you can separate those feelings from the reality of cash being real and still use it responsibly.

[@bobsacamano7653]

No it means it is free from being seen at what it is used for.

[@WhatShallEyeDo4U]

If I FIND money then it's free money... HOWEVER, a majority of us TAKE money out of OUR bank accounts... That's NOT free, Gen Z.

[@WhatShallEyeDo4U]

@YT Flava the whole point of my post is that cash is NOT free. Whether or not they are doing away with cash is BESIDES the point. Seems like the only thing that is dying is your education.

[@fwebster6226]

@YT Flava not true. There is a lot of push back in NZ with the Reserve Bank trying their hardest to remove cash. Main reasons given are cash is used as a budgeting tool, the freedom to spend your allowance on whatever you like without being tracked, more control on our money than the banking system. Are you aware that the less people use cash, the fewer and fewer banks we will have. This in itself would have major repercussions. Also, if we became truly digital, the banks would be more likely to increase their fees (effectively negative interest rates)

[@thedman454]

@@WhatShallEyeDo4U nah pretty sure y’all kicking the bucket soon

[@altenberg-greifenstein]

@@thedman454 I rather think that people like you will be wiped out first thanks to the survival of the fittest. When someone is saying something logical and your brain goes nah, you just a boomer, watch out! You will make so many wrong choices that it is very likely that one of them will be a point of no return.

[@WhatShallEyeDo4U]

@@thedman454 uh huh. Go Kick Rocks.

[@rachelharrison7961]

I can see kids thinking of cash as “found money” like when you put on clothes you haven’t worn in a while and find a $10 in the pocket. But free money? Nope.

[@joshkund]

I was just gonna make this comment. As I do this as well since it's so rare for me to have actual cash.

[@vignettevlogs1571]

I still can't see it. All cash was not found in an old coat or lost by someone on the ground. To suggest to the woman that the cash she paid with was free is stupid. How did the cashier know where that cash came from. The woman could have just withdrawn $500 out of the bank next door.

[@ultraali453]

Yeah. Free and Money is just a bad combination

[@Mathiu_Truhile]

My work bag has a card holder with all my certs, I usually stuff cash in there. I looked through the other and smiled with all the found cash, lol.

[@MartianAmbassador69]

Physical money is used/carried so infrequently with younger and younger generations that, yes, when you actually have it it feels like "free money". It's obviously not "free" as it came from somewhere and is yours, it just has the feeling of being free. What I think the kids mean is a term some of us older folk had called "found money".

[@kylefielder9664]

Yeah it’s obviously not free but it feels like it’s a bonus because we don’t equate work for cash, If I got paid in cash then I would feel like cash is more of a currency that hurts to spend

[@kylefielder9664]

It’s just everyone has direct deposit now, so when we spend cash that we just have in our wallet it doesn’t feel like spending… When obviously it is, I think that’s more the psychology to all this

[@Force5_Eye_Dev]

Yes. I’m not a gen x but I will say “ope it’s free” when I have cash because it’s already out of my account and for me mentally that money is “gone”.

[@mrgmsrd]

This is why I have my 10 year old son pay for everything he buys with cash. Even when he buys something online (for which I use my debit card) he has to hand me the cash from his wallet. Hopefully he won't end up with this bizarre notion.

[@altenberg-greifenstein]

The thing he needs is to work for the money he spends instead of spending the money of other people.

[@patrickhoban3002]

I don't believe that lady's TikTok story is real. She's going for the shock value so the TikTok algorithm promotes the video. She acts shocked by the stupidity of the cashier's "free" comment, yet it would appear that her kids are also just as stupid. What does that say about mom?

[@Overlord277]

My parents did this when I was a kid. I am cheap af now at 30.

[@m.b5777]

I do this with my one year old. Every time he drinks milk he has to pay me cash

[@grimreaperkatsu]

@@m.b5777wtf

[@mro2352]

I agree with Rachel’s take. I’m a millennial and it feels the same as “it’s just cash, I don’t have to track it”

[@Phantom121904]

I'm the same way, I basically treat cash as a discretionary spending account. But if I do pull cash from the bank, I log it in my budget as such as well.

[@flyingscotsman32]

Agreed. I live on Mint to budget, and I force myself to recategorize the cash withdrawals as food and dining expenses (I only use cash to tip otherwise it’s going on a card). Otherwise it won’t show up in the budget and there’s this disconnect that has happened to me.

[@mariaandersen4557]

I’ve never really thought about it like that, but yeah. Cash feels “free” or like a “bonus” because I don’t need to track in in EveryDollar or in my checking excel sheet.

[@bleepbloop9123]

I guess but it still doesn’t feel “free”!

[@nephetula]

Using the same type of Gen-Z logic, say someone bought you the latest I-Phone, and you lost it a week later. Would you feel bad? Of course not! YOU didn't buy it, so YOU haven't lost anything! 🤣

[@al1395-y3d]

To be fair, digital money is WAAAAAAY easier to keep track off. When I pull cash I just mark it as spent in my spreadsheet even if it's still on my wallet because otherwise I'd need to get every single receipt to keep track of it's use.

[@aarongomez7730]

Best take

[@I_like_turtles_67]

You can't count physical money in your wallet?

[@al1395-y3d]

@@I_like_turtles_67 Imagine having 4k in cash, spent 138.29 at walmart, got gas for 27.12 and spoiled yourself to a starbucks at 4.91. How much money do you have left? Did you pull a calculator to do this? Yeah what a freaking drag lol

[@I_like_turtles_67]

@@al1395-y3d You're carrying around 4k cash on a regular basis?

[@al1395-y3d]

@@I_like_turtles_67 Please answer my question first

[@acs3037]

I’m so much more strict with my card purchases than I am with cash. Card is easier to track and I’m reminded every time I long onto mint or my bank what I spent.

[@yellowrose13]

I'm a millennial and I get it too. Its not "free" but I do sort of think it "doesn't count" because it has already been budgeted and accounted for. I think that's what they meant.

[@R-P-S]

100%

[@nodsib]

Exactly, they meant it’s money that’s unaccountable

[@cashkitty3472]

Every penny counts especially when inflation is high. You won't save until you do this. Concert it into your hourly wage if that helps. How mu h tone did you have to work for that coffee

[@helenmeadows4157]

I'm Gen X and I feel this way. Cash is real money but it feels like a bonus because it's usually money that was not in my budget. It's usually a tip so it just feels like something I don't have to be accountable for.

[@DiscoFang]

I actually wonder if it's tied to the idea that these days so much of what is bought is paid for afterwards. After the transaction. A lot of life-stuff is even subscription now. Whereas paying cash means you don't have any further payment. Once the transaction is done it's free forever.

[@YourFunkiness]

I'm 35 and I relate to this. Ramsey says that spending real money hurts more than swiping a debit card. My generation feels the pain more with card than cash. My wife says that she has to track in her head all digital purchases, but not with cash.

[@cluckieschickens]

Holy cow!

[@jazztazz770]

I experienced something like this yesterday. I was drinking with a friend and paid the bartender in cash. I saw my friend looked concerned for me and then asked why I did that. I explained why I use cash and she was kind of amazed. I think the concern was that she thought I was struggling financially because I was using “fake money.”

[@cielom.elliott3223]

OMG 😲

[@cluckieschickens]

Holy cow!

[@brentagade]

That doesn’t even make sense

[@jazztazz770]

@@brentagade it doesn’t. All I’m saying is I’ve experienced how weird other millennials perceive cash. I can only imagine how bizarre Gen Z sees it.

[@bleepbloop9123]

What???

[@MichaelSamulak]

Speaking as a parent of five. Two who are in this age group...I would say that Rachel is close to their thought. It is related to how they feel it doesn't count against was is their digital balance; what they see to be their real balance; what is counted and they have to keep account of... so it's "free", or "extra", doesn't have to be considered otherwise. "Bonus" money as was also said. Don't agree with it at all...but it is def a byproduct of this digital generation.

[@blackworldtraveler3711]

I can understand what they are saying. Saying "free" seem like wrong choice of word.

[@MichaelSamulak]

@@blackworldtraveler3711 - agreed. I've come to realize that they have a very different sense of conversation and communication - I really believe it is because they have had so much more digital ways of interacting; because they do all seem to understand one another, even if everyone else does not understand them or the way they are conveying things.

[@altenberg-greifenstein]

I just want to know, where is that money coming from they see as free cash? Did they work for it and then take the cash out of their account or does it all come from you and that is why they anyway think it is all free money because they never have to sweat for it and worry about bills?

[@chriscruse9806]

When you have cash, that money is essentially being allocated as spending money. I'm not going to take the time to deposit the money back into my bank, so the option is to spend it. If I had over $100 in cash then maybe I'll deposit it into my bank but if I only have like $20, I am not going to bother putting it in the bank. It's like getting a gift card. It is money that you use to buy things, but you're not going to put it in your bank, or use it to pay bills.

[@altenberg-greifenstein]

Not true. A lot of people save money in cash.

[@HotelBravo556]

@@altenberg-greifenstein a lot of people with dentures, yes.

[@HotelBravo556]

I’m late millennial/early Gen Z. Born in ‘95. I’m definitely more likely to spend cash in my pocket. I’m not a spender, but it definitely hurts less to spend money that hasn’t made it to my account yet.

[@jeffreybutts1916]

What do you think of Central Bank Digital Currencies?

[@wtk6069]

Which is a total inversion of the psychology Dave based his "Cash is King" approach on. He may have no modify it for the next generation

[@HotelBravo556]

@@wtk6069 Dave? Modify the plan? Is that a joke?

[@HotelBravo556]

@@jeffreybutts1916 I HATE THE ANTICHRIST I HATE THE ANTICHRIST I HATE THE ANTICHRIST

[@Mattie_Ice]

@@jeffreybutts1916The BIS can go sit on a uranium rod.

[@dkaik]

I can kind of see the whole “it doesn’t really count since you’re budgeting from your checking/debit account”. But the reality is, if you’re spending cash, you’re funding expenses with cash that normally you would fund with your debit account. You still need to be cognizant of your spending, whether it’s cash or checking. It’s not free money when you’re going to be spending that money either way. With my budgeting, if I do withdraw cash, I budget that withdrawal so I know how much I converted into cash. I still feel that action

[@MRAROCKERDUDE]

The Rachel/George combo is fantastic!

[@jenr854]

I can’t even wrap my head around this…..smh…..🤦🏼‍♀️🤦🏼‍♀️🤦🏼‍♀️

[@kathys1285]

Please tell me they CAN’T be that dumb ???? 😲

[@benb7727]

She meant that it’s not traceable. As in “under the table”. She didn’t truly think it was free. She just wasn’t articulate enough to explain what she meant.

[@nodsib]

Exactly, it’s “unaccountable” money

[@sunshinesarah4746]

When I remove cash from my bank account it is traceable. The direct deposit. You still need to track it. Sheesh

[@unlimitedpower4101]

No I just think she's stupid enough to think it's free knowing this generation lol

[@benb7727]

@@sunshinesarah4746 I didn’t say you “don’t need to track it”. Of course there needs to be a budget for all money. Once its pulled out you can’t trace where it was spent or how much was spent. That’s why cash is used for crimes or hiding purchases for whatever reason. Don’t misunderstand what I meant and then “sheesh” me.

[@cazpk6840]

Equally creepy.

[@patriciamckissack6702]

I like to keep some cash on me at all the time as a JUST IN CASE I end up in a situation where the digital/plastic options aren't available. Still happens from time to time.

[@kitw76]

I’m 45 years old and I don’t understand these younger generations. They seem to be bizarre in their thinking. I guess she meant its not to be deducted from the account because it’s already been done. But it’s technically not free.

[@evanc6110]

The younger generation has always been bizarre in their thinking. Even since our grandparents were the younger generation.

[@Jane5720]

I agree they do have a bazaar way of thinking

[@kingbonezai4925]

Gen z use digital accounts and written budgets. Cash by its nature falls outside of the account balance and budget tools. Therefore it is “free” in the sense it isn’t tied to a budget line item. Also, cash often comes from tips or grandma, or an extra lawn mowed for youngsters. therefore it is often truly extra money. In addition the fact change is always odd and bills get smaller and more numerous as change is made, cash becomes increasingly hard to track, count and use, unless you pay the bank fee to put your coins in the machine and get bills.

[@mynameispremo]

A dollar found was once a dollar lost. It’s not extra, but rather represents a moment in time that you lapsed in your responsibility to keep track of it. So every $10 or $20 found in your pocket or purse still means something. Just think of what you may have lost that you won’t be lucky enough to find again.

[@adamr4198]

I had work done on my house by a medium sized company. They made me pay by check (debit card wasn’t an option). On top of that I had to mail them the check so I had to find an envelope and buy a stamp. I’m in my early 40s but it still felt strange. I was like “Is it 2022 or 2002?”

[@enricmm85]

I think that even for 2002 standards that would have felt out of date.

[@lynnebucher6537]

It sounds like they really don't like the transaction costs of plastic cards.

[@lightwork5414]

That doesn't make sense what those kids even.... 😭😮‍💨

[@Valhal1776]

To be fair, that's pretty much how I feel about coins, but I'm pretty protective of my cash still.

[@YobYm2]

I actually sort of have that mindset - I track my budget through my checking so any cash I make tip wise or gift wise doesn’t count against my set budget, in my mind it’s “free” but I’m also gen z so maybe just grew up differently?

[@HOLDXSTEEL]

So the cash just fell from the sky into your wallet?

[@sindrekdn]

I’m totally with you. When I use cash I look at it like my budget grew, and I’m not tracking it. But I still see cash as real money.

[@SwayzeeSoul]

Ummmmm……..that’s called stupidity…….it’s not “grew up differently”. Money doesn’t change based on your generation. How dumb are these people?!

[@SwayzeeSoul]

@@sindrekdn hahahahahhahahahahahahahhahahahha…..go back to elementary school dippy.

[@Primitive_Code]

Carrying large amounts of cash in your pocket is unsafe and immature. So I'm with the Gen z on this too. You seem like you have good track of your money and wise about spending. Most people carry cash to show off or impress other people just like impressing the Joneses thing. It's stupid.

[@jonnysseltzerreviews9726]

I used to feel this way until I started bartending and actually earning cash. Now I hate spending cash

[@5280Roadrunner]

If cash isn’t real I’ll take all of theirs. I’m afraid I will have exactly as much as I have now. 😂

[@davidzeibert7981]

Yeah, as a Gen Z I can say that paying with cash feels way better because you're not seeing a number go down, so just as older generations can feel like using a card makes it free because there's less feedback, you're not physically handing anything over, Gen Z feels the same way with cash

[@flipmex1]

When Rachel told George $35 for a haircut is good, in my mind I was like. “I pay $10, $12 with tip at my local barber shop. I would never in my life pay $35 for a haircut, I guess I’m the one that’s outdated.

[@jasonmoquin]

Nope. Same here. My cut is $12 and my tip is always $5 or $10(during the Christmas holiday).

[@jrwntctv8091]

Rachel neant it was good that George does actually spend a little money from time to time...

[@flipmex1]

@@jrwntctv8091 I don’t think so. She followed that up with “I thought you were going to be way more bougier than that.” Meaning $35 isn’t that expensive.

[@GabrielMartinez-sd8pc]

Imagine pulling out money out of the ATM and also having a mindset of “this doesn’t count against my budget because it’s paper money”

[@Joenzinator]

I think it's more like the money has already come out of the budget, so that point was the -$100. So now anything you buy, it is like it has already been pre-paid.

[@jrwntctv8091]

ATMs still exist?

[@GabrielMartinez-sd8pc]

@@Joenzinator If you budgeted $100 for fun money and take cash out all you did is change mediums. $100 budgeted for fun money is the same in a checking account or cash.

[@unlimitedpower4101]

​@@Joenzinator I disagree, cause often times you might not spend all the cash anyways.

[@elisewallisrischar21]

According the the bank account, the money is already spent so it doesn’t matter what you spend it on. Nobody else can trace that cash after it comes out so you can do whatever you want with it, theoretically.

[@StephenIC]

I feel similarly in the sense that the number in my back account is the "real" number. I mostly pay with card, I definitely feel the loss more with card than paying with cash for that reason. I'm 23, not even sure what generation that is lol

[@gtathletics912]

We are gen Z

[@justalostcause4425]

Milennial. Gen Z should start from 2000.

[@timothyjohnson679]

I worked at Schlotzskys here in AZ as a teenager! It is a national chain. I love how you guys say it 😂 cracks me up!

[@hilinai10s]

I know some younger folk who, if given cash, seem to be on a mission to get rid of it as quickly as possible. Meaning if they have a $20 bill, and needed something that was $10, would just pick stuff to get as close the $20 as possible.

[@M3Volver]

I’m a 22yr Gen z, I never heard of this. I think it’s just the mindset of the a few individuals, Money is money to me. Asking my 18yr sister she doesn’t understand this either.

[@tcgtpl]

When I first saw the video title, I thought this was going to be a discussion about fiat currency. But then I saw it's a Ramsey Show Highlight video & realized that there's no way that the Ramsey team is going to delve into that deep a level of economic and money theory.

[@susanlocke9384]

With direct deposit, debit cards, Venmo and Paypal, it doesn't surprise me that Gen Z has no idea about actual cash.

[@peace-a]

I bought a blouse the other day on sale for $16 something. I gave the young cashier a $50 bill and waited for my change. It took her a long time to count the bills and coins. She actually apologized for taking so long🤦🏻‍♀️. She's just not used to counting cash.

[@pinerock9668]

Me and my husband apparently both are early Gen Z's and don't understand thinking of cash feeling free. We both are savers and dont really like spending money, To us money is money, in the account or as cash and it comes from somewhere. And spending cash feels harder because of seeing it physically leave. The way we were raised and our childhood has played a part in how we view this.

[@justalostcause4425]

This is why I hate late 90 babies being lumped with post 2000 kids as gen Z. I had a very millennial childhood smh

[@kyleheck8916]

i’m 17 and cash is my favorite so 🤷🏿‍♂️

[@unisonosc1617]

$70 a month for haircuts? I bought an electric trimmer for $25 and buzz my own head. That's frugal. :D

[@probablynot1368]

Don’t forget the $5 discount for paying cash. The cash is untraceable, so therefore a portion goes unreported on his barber’s income taxes.

[@strategicsage7694]

@@probablynot1368 Eh, that depends on the integrity of the barber.

[@waterpoolblue]

If cash is "free"? Then everything is free.

[@chrishart8548]

Nothing is free ever

[@fatheroftheclyde]

Try explaining that to a democrat. Lol!

[@chrishart8548]

@@fatheroftheclyde try explaining anything to a democrat, probably say it's misinformation if they don't agree

[@SeanManks]

In our home when we take cash from bank, I sort of “write it off” in my monthly expense spreadsheet. After that we don’t really track it where it’s spent or we spend it in one day or over a few weeks. That goes for merchandise returned, sometimes stores give you an option to take cash if it’s cost was less than maybe $50.

[@mandypdx]

I agree that when it’s cash, it’s already spent. I rarely carry cash, unless I’m traveling overseas or want to give a tip to a service worker

[@GalloVerdesFarms]

Your cute

[@thelovelykimmi7920]

I’m a millennial and I agree to an extent. The cash is out of my account or given to me and I don’t see my balance go down because of it. It’s not traceable to an extent and you can lose it. Everything is electronic

[@jb111082]

You're missing the point. Those numbers in your bank account are basically paper bills that are put into safekeeping. Now, let's assume you take out 200 bucks at an ATM. The number in that bank account goes down.

[@bryanmoore9496]

I’m 45 and and I feel just the opposite. I take my weekly spending allowance out of the ATM because I find I spend a lot less when cash is physically leaving my hand. Whatever I don’t spend reduces what I need to withdrawal the next week. I don’t see how cash could ever be viewed as free money.

[@lynnebucher6537]

It must be a product of the younger generations. I'm 63 and to me cash is definitely more painful to spend, although I'm frugal no matter how I make a payment.

[@Aggie4life77]

Gen X here. I think what these kids are trying to say is that it’s already been withdrawn from your account so it’s already spent. Still doesn’t make sense, but I’m trying lol! It still come down to the fact that the drink is not free! This sounds like a conversation that comes up when your high🤣

[@scottc.miller7775]

Never deposit cash in an ATM. So the "feeling" might be different but the learning should not happen in a vacuum, meaning that the parents and teachers need to up their game.

[@StoneColdMagic]

Awesome video. I’ve never heard of this “cash doesn’t count” thing before. But I’m gonna watch for it now. Also: $35 for a haircut? Is it me or is that a lot? My haircut is $15 and I leave a $10 tip for a total of $25.

[@guillomendez6349]

Go Dave!

[@digiay]

"I'm frugal, I just pay 70 bucks a month for haircuts." Me thinking: I'm not frugal but only get one cut a month for 25 bucks. Am I super frugal? 😅

[@deborahjackson6108]

I have my sister cut my hair (no, she’s not a hairdresser, I’m taking my chances) guess I’m super duper frugal.

[@rthilson]

I wait til I look like bozo the clown then pay $25 to get it shaved off 😂😂

[@rnman99]

This retired NCO hasn't paid for a haircut since 2001 LOL

[@jimroscovius]

I get my haircut every eight months for $25.

[@CloakedC]

To be fair, they have to be filmed for a living.

[@jayalexander3356]

Why is everyone making excuses? "Cash is not real money" is one of the most moronic things I've heard from Gen Z, and I've heard some doozies.

[@briandyck8828]

I think it’s people like my wife that checks the checking account after every single transaction, and sometimes just randomly, but whenever she gets cash as a gift or from a side gig, she considers that “fun money” because it’s not tracked in the checking account 🤦‍♂️

[@RUTHSOFFGRID]

Keep cash as emergency back-up for power outages or your bank card is turned off due to fraud.

[@robertl7239]

The disconnect here is "feeling" versus "thinking".

[@nickholt5835]

The nickel recycling return on cans and bottles is like free money. The sodas and water was already spent in the budget, so the can return is like “lunch is FREEEEE” (if it’s a fairly cheap lunch).

[@ASimoneau]

They're missing an opportunity here. If Cash Doesn't Count, and everything you buy with Cash is Free, then that should incentivize people to cash-flow everything.

[@altenberg-greifenstein]

They are not capable of logical thinking

[@ericlopez7120]

I can understand this mentality, sometimes when I work I get cash tips and because it’s not in my bank account it can get lost as merely extra money that doesn’t get counted in the pile.

[@DiscoFang]

I like that. Cash is Free. It kinda fits with the Ramsey way. If you save up cash to buy stuff that "stuff" is then essentially free forever. What that means is you don't need to then pay it off. I think Gen Z believes that if you want something these days you either get tied to a subscription or you spend the next months paying it off. Perpetual debt. So cash is free.

[@James35142]

I don't buy nearly anything without cash and I'm Gen Z.

[@youngswoll3]

He means that he don’t ain’t never bought nothin without cash and he is generation Z. I hope that clears things up

[@unahko6079]

He's saying he ONLY uses cash for purchases, and he's Gen Z

[@cashkitty3472]

I'm English and I understood it. Keep cash alive. As soon as that goes everything is tracked and youre taxed to death and bank accounts can be frozen at any point. They can't freeze physical cash.

[@amypola5903]

I just pulled out cash and am using that, as well as writing down how much cash I have, it helps to not spend it....the writing it down. Maybe they mean cash is boundary-less, unless you keep track of it.

[@toastybaconbus5737]

I was expecting: “ it’s free because fraudulent federal reserve bank notes are not real money”

[@RyanBrosnahan]

I tend to agree. I don't have emotional attachment to physical cash but the number on Mint hits hard.

[@dannymartial7997]

George's barber is 100% dodging taxes with that "cash discount" 😂

[@tonyisit37]

Schlotsky's ??? I had to check to see if they were still in business. I live in the Chandler/Gilbert area of AZ and we do not even have one in either city .

[@LoonarFox]

I guess the paper in your wallet just magically appears from time to time 😸.

[@colin1818]

By "Free" they mean "untracked." If all of your cash just goes into a general fund in your wallet (as opposed to individualized envelopes) then it feels "free" to them. They buy the coffee and don't see the $5 ding on their checking balance.

[@jodylarson4697]

This is interesting. I have a line item in my monthly expense tracking: "Cash $300." And what I pay for with that cash doesn't get an assignment. Sometimes I pay for haircuts with it (but haircuts is a separate line item), and sometimes it's just a lunch or something like that. So in that sense, it is like "free" money because it doesn't get an assignment. On the other hand, it's in my budget. And no, I'm not Gen Z---not even close.

[@ultraali453]

In Pakistan we mostly use cash, although I personally try to use a debt card anywhere I can. I track BOTH cash and Debt Card transactions manually on a Google Docs spreadsheet.

[@smileychess]

$35 for a haircut?! I thought it was crazy that I splurge for a $25 cut (including tip) once a month.

[@jacksoncrowe5926]

Yeah I see where she’s coming from. I have more of an emotional attachment when I see my checking account go down $20 for lunch, but if I hand over a $20 bill I don’t feel anything cuz there’s not a number changing. If someone gives me cash it feels like I can go buy some free food whereas if someone sends me money on venmo it’s a lot harder to part with.

[@memesquad9608]

Im gen Z and that was literally one of the dummest things I've ever heard. Hey if you're cash is so worthless I'll take it.

[@aaronc5818]

When I get cash I count it spent at that moment. Then if I buy something with it, the cash doesn't go against my balance which is where my budget is based. So in a way I see the point.

[@misutasutanto6312]

It's still deducted from your account so I don't see the point

[@LordWiseWolf]

My wife and I split tip money. That’s the only cash we ever touch and I just immediately deposit in the bank. Honestly just so I can avoid change. Hate change. Except quarters and dollar coins.

[@oldfordman68]

Don't have that restaurant here, never heard of it until you talked about it

[@andrewschmutter4078]

This video is absolutely true. I am 20 and all of my friends and I have the same view.

[@stevenporter863]

I get that feeling too sometimes, think it has to do with the amount. A return and the store gives me physical cash. After I adjust the budget for the return it can feel like it is mad money. On the flip side if someone gave you $5 million in physical cash, it is real life changing.

[@sunshinejones8643]

I have a prepaid card which I place 300 on monthly and I spend it as I chose as all my other money goes into investments and bank budgets for clothing, house repairs, holidays, heating bills and mortgage!

[@kleindropper]

It could be because once you withdraw the cash from your account it's already counted as a debit, so any cash you have is "free money" after that point since its already subtracted from your account.

[@deva190]

Listening to this video reminded of when I was in Calculus IV class several decades ago trying to understand what the HECK teacher was doing

[@tylerbob6144]

For me, the biggest place I get physical cash from cash tips and sometimes that can be a bigger part of my income so I still feel like it can be important to track cash spending

[@sarahsanford3682]

Yes! I agree with Rachel that that is how it feels when you pay for something with cash. Totally feels like that.

[@marknc9616]

Take the child to an ATM, make a cash withdrawal, and watch their eyes light up with amazement!

[@kenneth9249]

George was spot on. I never use cash, so when I have cash, it's usually unaccounted for.

[@boots911]

I’m gen z and I totally agree. Only money in my bank account feels real. Cash in my hand feels like Monopoly money and I usually lose or throw away my change.

[@john091077]

I'll take all your fake cash.

[@boots911]

@@john091077 I never have any. I don't use cash.

[@mitchellm3536]

I actually agree with George on this, I haven’t carried cash in at least a year so I don’t factor it into my budget.

[@alendryaldimera]

Lol. How have we reached a point where a guy who spends $35 on a haircut TWICE PER MONTH gets to lecture other people about how irresponsible THEY are with their money?

[@aaronmurphy8796]

I do think this is how some people feel now. Im not sure id say i feel its free but i do see my accounts as the "real money" . I track my finances quite closely but I almost never use cash for anything. I keep around 12 dollars in my wallet in case I absolutely have to use cash for something but I do not track that in any of my financial spreadsheets.

[@vanesslifeygo]

Apple and Google pay have caused such galaxy brain ideologies to come about. I don't like physical cash but god, those words are pain.

[@owlblocksdavid4955]

I love how they cite what is clearly an outdated study, shown by their own personal experience, then say that because *a* study a while back showed we spend less with cash, everyone's personal experience shows otherwise.

[@alephnaught8343]

Cash is great. I try to by used items at garage sales, farmers markets, estate sales, craigslist, etc. when I can. No tax, no middleman, goes directly to a real person I see right there, it's great!

[@thekatinator1926]

I kinda get what she means. I make tips delivering pizzas on weekends, and I use the tip money to buy gas and groceries and "fun things" (impulse buys, going to restaurants, movies, etc.). That's how I budget: if I have cash from tips, I can buy it, if I don't, then I have to either wait until I do have cash, pick up an extra shift, or budget for it. In that sense, for me, cash doesn't "count" as part of my budget. I mean, it does, but I'm not adhering to a strict budget with my cash like I do with my paycheck. Does that make sense?

[@flaqko5686]

Does anyone remember when having cash but saying this money doesn't exist because it was for a bill

[@shanemcintyre5432]

$35 haircut!.... I was waiting for Dave to come rolling in and Will Smith you right out of your seat.

[@beyondthetrees5821]

I speak as a Gen Zer and I find it pretty cool how cash can be exchanged hand to hand for goods. The value of print on paper astounds me like a hand written check that can literally be any amount. Insane. Zelle will still be better though😅

[@kellya3162]

This actually makes sense and I'm a millennial or what I would say an xennial 💁🏿‍♀️ I would just rephrase "cash doesn't count" to "cash ALREADY counted" so it's basically spent money bc it's already accounted for in the past.

[@JohnNagleIV]

I don't know about Gen-Z, but as a Millennial, I understand that it's all the same "pool". It's interesting to see how the younger generations grew up in almost a purely "card transaction" system.

[@elbry4]

She means it's not on a credit card paying interest on it.

[@areohbeevee]

I’d like to see further information about the studies Dave mentions that say people spend 12-18% less when they pay with cash. I’d be interested in what age groups are being represented on this study because I’d honestly think that for young people, the opposite is true due to their relationship with cash like George and Rachel explained. When young people spend cash they view it as “free” versus when their bank account balance on their phone dwindles, that’s when the sirens go off

[@kylefielder9664]

It’s 100% all people above the age of 30, I can’t find the study but I’m sure of that.

[@kylefielder9664]

For people younger than 20 right now they would spend a significant percentage more if they were just given cash to spend

[@JasonGroom]

I kind of get it, if you live life totally digital, then the ways you get cash are usually already tracked. Things like returns of products, or money paid by a friend for something you bought, etc... since it is already tracked, it does feel less impactful.