Too Much Money!

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Have you ever thought about having too much money? What would you do with it? I don’t mean what would you buy, or how you would treat yourself, but what would you do with a huge sum of cash?

Let me explain.

We do all of our banking online. Payments and paychecks go direct deposit to our account. We have little plastic cards we use to shop…for everything. Rarely do we carry more than twenty dollars on our person.

1686000803_1388195322A friend of mine was recently robbed in the parking lot of a supermarket. Her purse was grabbed out of her shopping cart as she went to put her items into the trunk of her car. In fifteen minutes she had cancelled all of her cards using someone else’s cell phone.

When people pay us with checks or money orders, we scan those on the computer or cell phone and the amount is instantly deposited into our bank account. The convenience is something we have become accustomed to. When we pay for services in situations where the provider has no card swiper, like the yard men and housekeepers, we pay with checks.

So, my husband had this Land Rover that has been with him since 1972. He brought it back from England in the 1990’s. It has sailed across the ocean and stayed in his garage forever, until he finally gave it the attention it needed to have it ready to sell.

My husband is a big online shopper and seller. He deals with auto parts online almost every day. We don’t even subscribe to a newspaper or magazines anymore. Last year, everything purchased for Christmas was bought online. Everything is done online. Of course, when he got ready to sell the Land Rover, he marketed it online and had a buyer within the first week.

The guy drove over from the coast, so we knew he was serious. He took the Land Rover for a few drives and offered my husband exactly what he was asking for it, $12,000.00. No problem. Great! Marvelous!

Only, he paid in cash.

So here we were, suddenly drawing the curtains, sleeping with gun box by the head of the bed, using thecash-giveaway security system every night (something we don’t do if we are home), fearing that someone from “Crime Hills” was going to come into our neighborhood and bust through the glass and rob us. When nobody A) knew we had this money, B) has ever done that before. Now, it wasn’t like winning the lottery, but I have a much greater appreciation for the paranoia that most winners develop.

How to deal with this?

We called all around trying to find a place we could purchase a money order to scan to our online bank, which is located in Texas. NOBODY would make money orders for amounts greater than five hundred dollars. Western Union wanted to charge us a small fortune, and the bank had complications with accepting it via Western Union. Then, the bank tells us that we have to send money orders through UPS, and they would only accept up to $6000.00 deposit via money order to one account in one day. So we figured half in my account and half in my husband’s account.

We ended up at the local supermarket buying money orders. Twenty four of them. Can you imagine, with all of the forms to fill out to buy one, just how long that took?

save-time-money-and-stressThen, we walked over to the UPS place, which was conveniently in the same shopping complex. After having spent an hour at the grocery store, with a mile long angry (babies crying, parents screaming, people swearing) line behind us at the customer service desk, we had twenty four more forms to fill out, and the machine that processed the transactions took about twenty minutes per transaction. The man processing our money orders, one at a time, was at least kind enough to give attention to folks coming in for other services so we didn’t feel so awkward, but it did mean OUR wait was longer, as having to give other customers attention also meant we had to wait for his attention periodically. No problem…it was not his fault.

I kid you not, ten hours later; with crippled writing fingers, our money was safely in the bank.

We were exhausted. That was a whole day’s work and then some. We had to laugh to keep from crying.

Have modern conveniences caused you more inconvenience than they should?

44 thoughts on “Too Much Money!

  1. oh… too much money in cash? I would just spend it, lol. Wow, talk about a huge annoyance to get that taken care of. 24 money orders? o.O Well glad it all got taken care of. 🙂

  2. The closest I ever got to that was my first month teaching English in South Korea, where they paid me $2000 in cash for my first month’s pay (since I didn’t have a bank account yet). I’m trying to remember what I did with it … I think I hid it under a pile of clothes in the closet and just pulled out $100 every time I needed more money. I eventually worked my way through the stack of cash … but I suspect spending $12,000 might be a little trickier than spending $2,000!

    • Holding cash still makes me nervous. I don’t know how I would feel about that in a foreign country. Might be even more complicated. Dom pointed out the brighter side…not a bad days work after all.

  3. Never been in that position, but I’m surprised it was so complicated. It does sound like we’re phasing cash out. Not sure if that’s a good or bad thing. It could make it less profitable for a person to do a physical mugging since debit cards require a PIN and many credit cards have security to handle such things. A person can cancel them so quickly that a mugger wouldn’t get very far and they can get tracked by the police. On the other side of the spectrum, it’s ridiculous to use a credit card on one donut and a small hot cocoa.

    • I have felt pretty silly pulling out the debit card to buy my granddaughter a slushy at the 7-11, but better safe than sorry.

      Once, I had a teller machine keep my card. That was a huge inconvenience since the bank I used it at was closed. The next day I had to go in with my birth certificate and driver’s license to claim my card. She told me if no one claimed the cards within 24 hours they were destroyed, so I barely missed another huge inconvenience.

        • That’s a pain. I have had fax machines and copy machines on my job cause me enormous amounts of grief. Since we don’t often come into this kind of cash, we don’t plan to do anything different. People suggested opening a brick and mortar account, but they charge fees, so I closed mine. I NEVER needed it.

  4. My dad used to stuff under his mattress the cash receipts of the day from his farm equipment business. Such a stereotype, but I’m not kidding.
    (To avoid anxiety next time this happens: open an account in a local bank?)

    • I used to have a local brick and mortar bank account but I closed it as I wasn’t using it and they charged a monthly fee. Never really thought about what we would do with this amount of cash.

  5. My wife was at Harrods department store last summer and they confiscated her debit card. (some international mix-up). They chopped it up immediately and it was the card she used to buy the airline tickets. Think getting the travel record to show up at the airport. Luckily the bank sent another by FedEx

  6. I haven’t had that kind of money problem in ages. We never have cash anymore. There’s also darned little in the bank either, but that’s a different problem.

    On the other hand, I really dig Land Rovers. Old, new, doesn’t matter; they just have a certain charm to them. It’s like an unrealized promise of adventure.

    • He kind of hated to see it go for that very reason. But it was just sitting there getting such limited opportunities for adventure that he decided it was time for a new home.

      • My personal LR was a Series I Discovery from the 90s. I drove it every day for all those years. I sold it and bought a truck last January now that we don’t have kids to haul around.

        • They are fun. We had one guy look at it that wanted it for a beach ride, but he was only willing to go 8K and Greg wouldn’t do it.

          We used it once a year to haul the Christmas tree home on the roof. Tradition. We have Dodge Ram 2500 now, but can’t afford the gas for it. HA!

            • We only use our truck when we have to, or one of the kids will use it when their vehicle is down.

              Which is too often, but has taught them a lesson about keeping theirs in working order, else they’ll have to pay.

  7. When I lived overseas, I once had to pay for a vehicle in cash, and because of the currency exchange, it was literally a duffel bag filled with bills. Just counting it was a chore. I think the grand total was $5,000 for a used car, but it felt like we need an armored car to make the deal.

    • That’s how I felt exchanging money in Costa Rica…It was talking in millions of colones, so it seemed such a huge amount, even written on a credit card receipt. I couldn’t imagine trying to carry a duffel bag filled with money. They must have thought you were a rock star.

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