The Pros and Cons of Starting Tabs vs Carrying Cash
It’s no secret, everyone carries plastic these days. For me, going out with cash is a rare occurrence. The stars and planets have to align precisely at the stroke of midnight during a sausage festival in Israel. It’s not gonna happen.
That’s just me, there are advantages of carrying cash vs starting a tab. Let’s discuss the pros and cons:
Pros of Starting Tabs:
If you’re sole purpose is to drink, then start a tab. With cash you end up tipping every drink. If its $2 bottles at happy hour and you have 5 beers, then you just tipped $5 on $10 which is 50%. By starting a tab you tip on actual price and not quantity.
CAUTION: There is a backfire, if you’re at a high end martini bar drinking $15 cosmos, tip on every drink. Do the math…
Cons of Starting Tabs:
Overspending. I don’t know about you, but if I don’t actually see any cash exchanged, then I didn’t spend it. That mentality can get you in trouble if you’re on a budget. Not to mention, people can throw drinks on your tab without you knowing. It’s hard to say no once the damage has been done.
Pros of Carrying Cash:
I usually cringe at the idea of splitting tabs in large groups. You know that feeling, 20+ sit down at the table and start ordering mounds of food with drinks. Then the bill comes and the endless task of “what did you have” begins. For most servers it’s not a problem, for some it can be a daunting train wreck of white copies to sign. Accidentally getting overcharged $300 on a $30 tab is also no fun.
By carrying cash you won’t have to split anything. Just pay for whatever you had and watch as credit card roulette goes down.
Cons of Carrying Cash:
Cash seems to go fast. Money in, money out. It’s good because you can physically see what your spending, but bad because it’s so easy to spend. Hence the term “money burning a hole in your pocket.” You can lose cash. Not to mention, people don’t usually rob you for a Visa, they want cash.
In the end, carrying cash is probably a better alternative. My father always takes out exactly what he wants to spend when going out to eat/drink. Once the cash is gone, it’s time to go home. That’s probably the best option vs starting a tab and blindly blowing through your bank account. Then again, that sends you home early, and we all know everything cool happens after midnight.
Any techniques or tips for saving money while going out?
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Tags: bars, cash, credit card roulette, eating out, going out, nightlife, tabs, visa
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